8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 4, 2011

	Exact Name of Registrant as Specified in its Charter,
Commission	State of Incorporation, Address of Principal Executive	IRS Employer
File Number	Offices and Telephone Number	Identification No.
1-11607	DTE Energy Company	38-3217752
	(a Michigan corporation)
	One Energy Plaza
	Detroit, Michigan 48226-1279
	313-235-4000
1-2198	The Detroit Edison Company	38-0478650
	(a Michigan corporation)
	One Energy Plaza
	Detroit, Michigan 48226-1279
	313-235-4000

     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

DTE Energy Company (DTE Energy) is furnishing the Securities and Exchange Commission (SEC) with its earnings release issued November 4, 2011, announcing financial results for the quarter ended September 30, 2011. Copies of the earnings release and the financial information distributed for media and investor relations communications are furnished as Exhibits 99.1 and 99.2 and incorporated herein by reference. In its earnings release and the slide presentation discussed below, DTE Energy narrowed its 2011 operating earnings per share guidance to $3.50-$3.70 per share.

Item 7.01. Regulation FD Disclosure.

DTE Energy is furnishing the SEC with its slide presentation issued November 4, 2011. A copy of the slide presentation is furnished as Exhibit 99.3 and incorporated herein by reference.

In its earnings release, slide presentation and this filing, DTE Energy discusses 2011 operating earnings guidance. It is likely that certain items that impact the company’s 2011 reported results will be excluded from operating results. Reconciliations to the comparable 2011 reported earnings guidance are not provided because it is not possible to provide a reliable forecast of specific line items. These items may fluctuate significantly from period to period and may have a significant impact on reported earnings.

In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibits 99.1 and 99.2 and 99.3, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1	Earnings Release of DTE Energy Company dated November 4, 2011.
99.2	Financial Information Distributed for Media and Investor Relations Communications dated November 4, 2011.
99.3	Slide Presentation of DTE Energy Company dated November 4, 2011.

Forward-Looking Statements:

This Form 8-K contains forward-looking statements that are subject to various assumptions, risks and uncertainties. It should be read in conjunction with the “Forward-Looking Statements” sections in DTE Energy’s and The Detroit Edison Company’s (Detroit Edison) 2010 Forms 10-K and 2011 Forms 10-Q (which sections are incorporated by reference herein), and in conjunction with other SEC reports filed by DTE Energy and Detroit Edison that discuss important factors that could cause DTE Energy’s and Detroit Edison’s actual results to differ materially. DTE Energy and Detroit Edison expressly disclaim any current intention to update any forward-looking statements contained in this report as a result of new information or future events or developments.

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.

Date: November 4, 2011

DTE ENERGY COMPANY
(Registrant)
 

/s/ Peter B. Oleksiak  

Peter B. Oleksiak 

Vice President and Controller and Chief Accounting Officer 

THE DETROIT EDISON COMPANY
(Registrant)
 

/s/ Peter B. Oleksiak  

Peter B. Oleksiak 

Vice President and Controller and Chief Accounting Officer 

EXHIBIT INDEX

Exhibit
Number		Description
	99.1	Earnings Release of DTE Energy Company dated November 4, 2011.
	99.2	Financial Information Distributed for Media and Investor Relations Communications dated November 4, 2011.
	99.3	Slide Presentation of DTE Energy Company dated November 4, 2011.

EX-99.1

Exhibit 99.1

November 4, 2011

DTE Energy reports third quarter 2011 results; narrows 2011 earnings guidance

DETROIT — DTE Energy (NYSE:DTE) today reported third quarter 2011 earnings of $183 million, or $1.07 per diluted share, compared with $163 million, or $0.96 per diluted share, in the third quarter of 2010.

Operating earnings for the third quarter 2011 were $183 million, or $1.07 per diluted share, compared with third quarter 2010 operating earnings of $163 million, or $0.96 per diluted share. Operating earnings increased primarily due to improved results at Energy Trading and Corporate & Other, partially offset by lower earnings at Power & Industrial Projects, Detroit Edison and MichCon. Operating earnings exclude non-recurring items and discontinued operations. Reconciliations of reported earnings to operating earnings are at the end of this news release.

“DTE Energy delivered good results in the third quarter, and we are on track to achieve our 2011 goals,” said Gerard M. Anderson, DTE Energy chairman, president and CEO. “Our aspiration is to be the best operated energy company in North America and our employees take great pride in finding opportunities to control costs, strengthen operating performance, and improve our customers’ experiences with DTE Energy.”

Reported earnings for the first nine months ended September 30, 2011 were $561 million or $3.30 per diluted share versus $478 million or $2.84 per diluted share in 2010. Year-to-date operating earnings were $482 million or $2.83 per diluted share, compared with $458 million or $2.72 per diluted share in 2010.

Outlook for 2011

DTE Energy narrowed its 2011 operating earnings guidance to $3.50 to $3.70 per diluted share from $3.40 to $3.70 per diluted share.

“With our solid operational and financial performance through the first nine months of the year, we are able to confidently narrow our operating earnings guidance range for 2011,” said David E. Meador, DTE Energy executive vice president and chief financial officer. “Looking beyond 2011, we will continue to execute on our utility and non-utility growth strategies, and are committed to being a force for growth and prosperity in the communities we serve.”

Earlier this year, DTE Energy joined a number of prominent companies across the state to become part of the Pure Michigan Business Initiative, a public-private venture to help perpetuate the philosophy of “economic gardening” in Michigan. The company committed to increasing purchases of goods and services from Michigan-based companies by $750 million over the next five years. As an example of this commitment, Meador pointed to DTE Energy’s recent groundbreaking of the Gratiot County Wind Farm, which when operational will generate clean, renewable energy for more than 50,000 Michigan homes. This project, which is being constructed by a Livonia, Michigan-based company, will provide over 200 temporary and permanent jobs and yield long-term economic benefits to the community.

This earnings announcement, as well as a package of slides and supplemental information, is available at www.dteenergy.com.

DTE Energy plans to conduct a conference call with the investment community hosted by Meador at 9:00 a.m. EDT Friday, November 4, to discuss third quarter earnings results. Investors, the news media and the public may listen to a live internet broadcast of the meeting at www.dteenergy.com. The telephone dial-in numbers are US/CAN Toll free: (877) 723-9509 or Int’l Toll: (719) 325-4750. The passcode is 6196954. The internet broadcast will be archived on the company’s website. An audio replay of the call will be available from noon today to November 18. To access the replay, dial (888) 203-1112 or (719) 457-0820 and enter passcode 6196954.

DTE Energy (NYSE:DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include Detroit Edison, an electric utility serving 2.1 million customers in Southeastern Michigan, MichCon, a natural gas utility serving 1.2 million customers in Michigan, and other non-utility, energy businesses focused on gas storage and pipelines, unconventional gas production, power and industrial projects, and energy trading. Information about DTE Energy is available at www.dteenergy.com.

Use of Operating Earnings Information — DTE Energy management believes that operating earnings provide a more meaningful representation of the company’s earnings from ongoing operations and uses operating earnings as the primary performance measurement for external communications with analysts and investors. Internally, DTE Energy uses operating earnings to measure performance against budget and to report to the Board of Directors.

In this release, DTE Energy discusses 2011 operating earnings guidance. It is likely that certain items that impact the company’s 2011 reported results will be excluded from operating results. Reconciliations to the comparable 2011 reported earnings guidance are not provided because it is not possible to provide a reliable forecast of specific line items. These items may fluctuate significantly from period to period and may have a significant impact on reported earnings.

The information contained herein is as of the date of this release. DTE Energy expressly disclaims any current intention to update any forward-looking statements contained in this release as a result of new information or future events or developments. Words such as “anticipate,” “believe,” “expect,” “projected” and “goals” signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various assumptions, risks and uncertainties. This release contains forward-looking statements about DTE Energy’s financial results and estimates of future prospects, and actual results may differ materially.

Many factors may impact forward-looking statements including, but not limited to, the following: economic conditions and population changes in our geographic area resulting in changes in demand, customer conservation, increased thefts of electricity and gas and high levels of uncollectible accounts receivable; changes in the economic and financial viability of suppliers and trading counterparties, and the continued ability of such parties to perform their obligations to the Company; access to capital markets and the results of other financing efforts which can be affected by credit agency ratings; instability in capital markets which could impact availability of short and long-term financing; the timing and extent of changes in interest rates; the level of borrowings; the potential for losses on investments, including nuclear decommissioning and benefit plan assets and the related increases in future expense and contributions; impact of regulation by the FERC, MPSC, NRC and other applicable governmental proceedings and regulations, including any associated impact on rate structures; the amount and timing of cost recovery allowed as a result of regulatory proceedings; the potential for increased costs or delays in completion of significant construction projects; the effects of weather and other natural phenomena on operations and sales to customers, and purchases from suppliers; environmental issues, laws, regulations, and the increasing costs of remediation and compliance, including actual and potential new federal and state requirements; health, safety, financial, environmental and regulatory risks associated with ownership and operation of nuclear facilities; impact of electric and gas utility restructuring in Michigan, including legislative amendments and Customer Choice programs; employee relations and the impact of collective bargaining agreements; unplanned outages; changes in the cost and availability of coal and other raw materials, purchased power and natural gas; volatility in the short-term natural gas storage markets impacting third-party storage revenues; cost reduction efforts and the maximization of plant and distribution system performance; the effects of competition; the uncertainties of successful exploration of unconventional gas resources and challenges in estimating gas and oil reserves with certainty; changes in and application of federal, state and local tax laws and their interpretations, including the Internal Revenue Code, regulations, rulings, court proceedings and audits, related appeals or new legislation; the cost of protecting assets against, or damage due to, terrorism or cyber attacks; the availability, cost, coverage and terms of insurance and stability of insurance providers; changes in and application of accounting standards and financial reporting regulations; changes in federal or state laws and their interpretation with respect to regulation, energy policy and other business issues; binding arbitration, litigation and related appeals; and risks discussed in public filings with the SEC. New factors emerge from time to time. We cannot predict what factors may arise or how such factors may cause our results to differ materially from those contained in any forward-looking statement. Any forward-looking statements refer only as of the date on which such statements are made. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. This presentation should also be read in conjunction with the “Forward-Looking Statements” sections in each of DTE Energy’s and Detroit Edison’s 2010 Forms 10-K and 2011 Forms 10-Q (which sections are incorporated herein by reference), and in conjunction with other SEC reports filed by DTE Energy and Detroit Edison.

For further information, members of the media may contact:
Scott Simons, (313) 235-8808
Len Singer, (313) 235-8809

Analysts — for further information:

Kurt Wasiluk, (313) 235-7726
Mark Rolling, (313) 235-7663

DTE Energy Company

Consolidated Statements of Operations (Unaudited)

	Three Months Ended						Nine Months Ended
	September 30						September 30
(in Millions, Except per Share Amounts)	2011			2010			2011			2010
Operating Revenues	$	2,265		$	2,139		$	6,724		$	6,384
Operating Expenses
Fuel, purchased power and gas		866			763			2,708			2,366
Operation and maintenance		670			649			1,948			1,898
Depreciation, depletion and amortization		259			271			752			775
Taxes other than income		79			69			239			231
Asset (gains) and losses, reserves and impairments, net		(8	)		1			—			—
		1,866			1,753			5,647			5,270
Operating Income		399			386			1,077			1,114
Other (Income) and Deductions
Interest expense		120			142			370			418
Interest income		(3	)		(3	)		(8	)		(9	)
Other income		(20	)		(20	)		(59	)		(62	)
Other expenses		16			9			31			32
		113			128			334			379
Income Before Income Taxes		286			258			743			735
Income Tax Expense		101			92			180			252
Net Income		185			166			563			483
Less: Net Income Attributable to Noncontrolling Interests		2			3			2			5
Net Income Attributable to DTE Energy Company	$	183		$	163		$	561		$	478
Basic Earnings per Common Share
Net Income Attributable to DTE Energy Company	$	1.08		$	0.97		$	3.31		$	2.85
Diluted Earnings per Common Share
Net Income Attributable to DTE Energy Company	$	1.07		$	0.96		$	3.30		$	2.84
Weighted Average Common Shares Outstanding
Basic		169			169			169			168
Diluted		170			170			170			168
Dividends Declared per Common Share	$	0.59		$	0.56		$	1.74		$	1.62

DTE Energy Company
Segment Net Income (Unaudited)

	Three Months Ended September 30
	2011								2010
	Reported					Operating			Reported					Operating
(in Millions)	Earnings			Adjustments		Earnings			Earnings			Adjustments		Earnings
Electric Utility	$	157		$	—	$	157		$	165		$	—	$	165
Gas Utility		(11	)		—		(11	)		(6	)		—		(6	)
Non-utility Operations
Gas Storage and Pipelines		13			—		13			12			—		12
Unconventional Gas Production		(2	)		—		(2	)		(4	)		—		(4	)
Power and Industrial Projects		12			—		12			26			—		26
Energy Trading		22			—		22			(12	)		—		(12	)
Total Non-utility operations		45			—		45			22			—		22
Corporate and Other		(8	)		—		(8	)		(18	)		—		(18	)
Net Income Attributable to DTE Energy Company	$	183		$	—	$	183		$	163		$	—	$	163

DTE Energy Company
Segment Diluted Earnings Per Share (Unaudited)

	Three Months Ended September 30
	2011								2010
	Reported					Operating			Reported					Operating
	Earnings			Adjustments		Earnings			Earnings			Adjustments		Earnings
Electric Utility	$	0.92		$	—	$	0.92		$	0.97		$	—	$	0.97
Gas Utility		(0.06	)		—		(0.06	)		(0.04	)		—		(0.04	)
Non-utility Operations
Gas Storage and Pipelines		0.08			—		0.08			0.07			—		0.07
Unconventional Gas Production		(0.01	)		—		(0.01	)		(0.02	)		—		(0.02	)
Power and Industrial Projects		0.07			—		0.07			0.15			—		0.15
Energy Trading		0.13			—		0.13			(0.07	)		—		(0.07	)
Total Non-utility operations		0.27			—		0.27			0.13			—		0.13
Corporate and Other		(0.06	)		—		(0.06	)		(0.10	)		—		(0.10	)
Net Income Attributable to DTE Energy Company	$	1.07		$	—	$	1.07		$	0.96		$	—	$	0.96

DTE Energy Company
Segment Net Income (Unaudited)

	Nine Months Ended September 30
	2011									2010
	Reported						Operating			Reported						Operating
(in Millions)	Earnings			Adjustments			Earnings			Earnings			Adjustments			Earnings
Electric Utility	$	345		$	9	A	$	354		$	343		$	—		$	343
Gas Utility		69			—			69			92			(20	)C		72
Non-utility Operations
Gas Storage and Pipelines		42			—			42			36			—			36
Unconventional Gas Production		(5	)		—			(5	)		(9	)		—			(9	)
Power and Industrial Projects		27			—			27			66			—			66
Energy Trading		36			—			36			—			—			—
Total Non-utility operations		100			—			100			93			—			93
Corporate and Other		47			(88	)B		(41	)		(50	)		—			(50	)
Net Income Attributable to DTE Energy Company	$	561		$	(79	)	$	482		$	478		$	(20	)	$	458

Adjustments key

A)	Fermi asset retirement obligation
B)	Income tax adjustment due to enactment of Michigan Corporate Income Tax in May 2011.
C)	Deferral of costs to achieve restructuring expenses for the Performance Excellence Process approved in the June 2010 MPSC rate order.

DTE Energy Company
Segment Diluted Earnings Per Share (Unaudited)

	Nine Months Ended September 30
	2011									2010
	Reported						Operating			Reported						Operating
	Earnings			Adjustments			Earnings			Earnings				Adjustments		Earnings
Electric Utility	$	2.03		$	0.05	A	$	2.08		$	2.04		$	—		$	2.04
Gas Utility		0.41			—			0.41			0.55			(0.12	)C		0.43
Non-utility Operations
Gas Storage and Pipelines		0.25			—			0.25			0.21			—			0.21
Unconventional Gas Production		(0.03	)		—			(0.03	)		(0.05	)		—			(0.05	)
Power and Industrial Projects		0.16			—			0.16			0.39			—			0.39
Energy Trading		0.21			—			0.21			—			—			—
Total Non-utility operations		0.59			—			0.59			0.55			—			0.55
Corporate and Other		0.27			(0.52	)B		(0.25	)		(0.30	)		—			(0.30	)
Net Income Attributable to DTE Energy Company	$	3.30		$	(0.47	)	$	2.83		$	2.84		$	(0.12	)	$	2.72

Adjustments key

A)	Fermi 1 asset retirement obligation
B)	Income tax adjustment due to enactment of the Michigan Corporate Income Tax in May 2011.
C)	Deferral of costs to achieve restructuring expenses for the Performance Excellence Process approved in the June 2010 MPSC rate order.

EX-99.2

Exhibit 99.2

DTE Energy Company
Consolidated Statements of Financial Position (Unaudited)

	September 30			December 31
(in Millions)	2011			2010
ASSETS
Current Assets
Cash and cash equivalents	$	46		$	65
Restricted cash, principally Securitization		73			120
Accounts receivable (less allowance for doubtful accounts of $168 and $196, respectively)
Customer		1,206			1,393
Other		121			402
Inventories
Fuel and gas		567			460
Materials and supplies		209			202
Deferred income taxes		130			139
Derivative assets		109			131
Regulatory assets		201			58
Other		249			197
		2,911			3,167
Investments
Nuclear decommissioning trust funds		893			939
Other		527			518
		1,420			1,457
Property
Property, plant and equipment		22,312			21,574
Less accumulated depreciation, depletion and amortization		(8,890	)		(8,582	)
		13,422			12,992
Other Assets
Goodwill		2,020			2,020
Regulatory assets		3,940			4,058
Securitized regulatory assets		618			729
Intangible assets		74			67
Notes receivable		124			123
Derivative assets		59			77
Other		192			206
		7,027			7,280
Total Assets	$	24,780		$	24,896

DTE Energy Company
Consolidated Statements of Financial Position (Unaudited)

	September 30			December 31
(in Millions, Except Shares)	2011			2010
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$	708		$	729
Accrued interest		121			111
Dividends payable		99			95
Short-term borrowings		275			150
Current portion long-term debt, including capital leases		247			925
Derivative liabilities		114			142
Other		536			597
		2,100			2,749
Long-Term Debt (net of current portion)
Mortgage bonds, notes and other		6,702			6,114
Securitization bonds		479			643
Trust preferred-linked securities		289			289
Capital lease obligations		27			43
		7,497			7,089
Other Liabilities
Deferred income taxes		3,076			2,632
Regulatory liabilities		1,040			1,328
Asset retirement obligations		1,560			1,498
Unamortized investment tax credit		68			75
Derivative liabilities		62			110
Liabilities from transportation and storage contracts		73			83
Accrued pension liability		680			866
Accrued postretirement liability		1,216			1,275
Nuclear decommissioning		141			149
Other		258			275
		8,174			8,291
Commitments and Contingencies
Equity
Common stock, without par value, 400,000,000 shares authorized, 169,250,934 and 169,428,406 shares issued and outstanding, respectively		3,418			3,440
Retained earnings		3,698			3,431
Accumulated other comprehensive loss		(146	)		(149	)
Total DTE Energy Company Equity		6,970			6,722
Noncontrolling interests		39			45
Total Equity		7,009			6,767
Total Liabilities and Equity	$	24,780		$	24,896

DTE Energy Company
Consolidated Statements of Cash Flows (Unaudited)

	Nine Months Ended
	September 30
(in Millions)	2011			2010
Operating Activities
Net income	$	563		$	483
Adjustments to reconcile net income to net cash from operating activities:
Depreciation, depletion and amortization		752			775
Deferred income taxes		123			173
Asset losses, reserves and impairments, net		—			5
Changes in assets and liabilities, exclusive of changes shown separately		48			73
Net cash from operating activities		1,486			1,509
Investing Activities
Plant and equipment expenditures — utility		(968	)		(743	)
Plant and equipment expenditures — non-utility		(61	)		(75	)
Proceeds from sale of assets, net		13			28
Restricted cash for debt redemption, principally Securitization		47			33
Proceeds from sale of nuclear decommissioning trust fund assets		69			179
Investment in nuclear decommissioning trust funds		(97	)		(204	)
Consolidation of VIEs		—			19
Investment in Millennium Pipeline Project		—			(49	)
Other		(55	)		(22	)
Net cash used for investing activities		(1,052	)		(834	)
Financing Activities
Issuance of long-term debt		908			595
Redemption of long-term debt		(1,161	)		(660	)
Short-term borrowings, net		126			(307	)
Issuance of common stock		—			26
Repurchase of common stock		(18	)		—
Dividends on common stock		(289	)		(265	)
Other		(19	)		(32	)
Net cash used for financing activities		(453	)		(643	)
Net Increase (Decrease) in Cash and Cash Equivalents		(19	)		32
Cash and Cash Equivalents at Beginning of Period		65			52
Cash and Cash Equivalents at End of Period	$	46		$	84

The Detroit Edison Company
Consolidated Statements of Operations (Unaudited)

	Three Months Ended						Nine Months Ended
	September 30						September 30
(in Millions)	2011			2010			2011			2010
Operating Revenues	$	1,517		$	1,444		$	3,949		$	3,798
Operating Expenses
Fuel and purchased power		553			484			1,348			1,217
Operation and maintenance		352			325			1,012			960
Depreciation and amortization		215			230			619			644
Taxes other than income		63			54			182			180
Asset (gains) and losses, net		(1	)		—			13			(1	)
		1,182			1,093			3,174			3,000
Operating Income		335			351			775			798
Other (Income) and Deductions
Interest expense		74			83			218			241
Interest income		—			(1	)		—			(1	)
Other income		(9	)		(10	)		(30	)		(27	)
Other expenses		14			6			26			23
		79			78			214			236
Income Before Income Taxes		256			273			561			562
Income Tax Expense		98			108			214			219
Net Income	$	158		$	165		$	347		$	343

MICHIGAN CONSOLIDATED GAS COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

	Three Months Ended						Nine Months Ended
	September 30						September 30
(in Millions)	2011			2010			2011			2010
Operating Revenues	$	156		$	167		$	1,074		$	1,142
Operating Expenses
Cost of gas		35			36			526			575
Operation and maintenance		91			96			294			271
Depreciation and amortization		22			20			66			68
Taxes other than income		11			11			42			42
		159			163			928			956
Operating Income (Loss)		(3	)		4			146			186
Other (Income) and Deductions
Interest expense		16			17			47			50
Interest income		(1	)		(2	)		(5	)		(6	)
Other income		(2	)		(2	)		(5	)		(5	)
Other expenses		3			—			4			3
		16			13			41			42
Income (Loss) Before Income Taxes		(19	)		(9	)		105			144
Income Tax Expense (Benefit)		(8	)		(4	)		37			51
Net Income (Loss)	$	(11	)	$	(5	)	$	68		$	93

DTE Energy Debt/Equity Calculation
As of September 30, 2011
($ millions)

Short-term borrowings	$	275
Current portion of long-term debt, including capital leases		247
Mortgage bonds, notes and other		6,702
Securitization bonds, excluding current portion		479
Capital lease obligations		27
Other adjustments		305
less Securitization bonds, including current portion		(643	)
50% Trust preferred-linked securities		144
Total debt		7,536
50% Trust preferred-linked securities		144
Total preferred/ other		144
Equity		6,970
Total capitalization	$	14,650
Debt		51	%
Preferred		1	%
Common shareholders’ equity		48	%
Total		100	%

Sales Analysis — 3Q 2011

Electric Sales — Detroit Edison Service Area (GWh)

	3Q 2011		3Q 2010		% Change
Residential		4,863		5,034		-3	%
Commercial		4,759		4,730		1	%
Industrial		2,606		2,357		11	%
Other		782		798		-2	%
		13,010		12,919		1	%
Choice		1,393		1,289		8	%
TOTAL SALES		14,403		14,208		1	%

Electric Revenue — Detroit Edison Service Area ($000s)

	3Q 2011		3Q 2010		% Change
Residential		665,301		653,756		2	%
Commercial		478,457		459,441		4	%
Industrial		186,946		164,850		13	%
Other		50,035		49,605		1	%
		1,380,739		1,327,652		4	%
Choice		26,160		28,167		-7	%
TOTAL REVENUES		1,406,899		1,355,819		4	%

Gas Sales — MichCon Service Area (MMcf)

	3Q 2011		3Q 2010		% Change
Residential		7,123		6,058		18	%
Commercial		1,531		1,491		3	%
Industrial		110		120		-8	%
		8,764		7,669		14	%
End User Transportation*		25,722		28,469		-10	%
TOTAL SALES		34,486		36,138		-5	%

* Includes choice customers

Gas Revenue — MichCon Service Area ($000s)

	3Q 2011		3Q 2010		% Change
Residential		85,932		84,929		1	%
Commercial		17,442		18,719		-7	%
Industrial		886		1,092		-19	%
		104,261		104,740		0	%
End User Transportation*		30,332		29,494		3	%
TOTAL REVENUES		134,593		134,235		0	%

* Includes choice customers

Weather

Cooling Degree Days
Detroit Edison service territory

	3Q 2011			3Q 2010			% Change
Actuals		793			758			5	%
Normal		537			537
Deviation from normal		48	%		41	%

Heating Degree Days
MichCon service territory

	3Q 2011			3Q 2010			% Change
Actuals		142			136			4	%
Normal		128			129
Deviation from normal		11	%		5	%

Earnings Impact of Weather
Variance from normal weather ($millions, after-tax)

	3Q 2011		3Q 2010
MichCon		1		—

Colder weather increased MichCon’s earnings by $1M Q3 2011

Sales Analysis — YTD September 30, 2011

Electric Sales — Detroit Edison Service Area (GWh)

	YTD 2011		YTD 2010		% Change
Residential		12,358		12,301		0	%
Commercial		12,750		12,660		1	%
Industrial		7,353		7,438		-1	%
Other		2,343		2,398		-2	%
		34,804		34,797		0	%
Choice		4,104		3,675		12	%
TOTAL SALES		38,908		38,472		1	%

Electric Revenue — Detroit Edison Service Area ($000s)

	YTD 2011		YTD 2010		% Change
Residential		1,679,205		1,592,910		5	%
Commercial		1,283,431		1,239,498		4	%
Industrial		520,634		499,546		4	%
Other		148,199		140,063		6	%
		3,631,469		3,472,017		5	%
Choice		77,671		78,898		-2	%
TOTAL REVENUES		3,709,140		3,550,915		4	%

Gas Sales — MichCon Service Area (MMcf)

	YTD 2011		YTD 2010		% Change
Residential		68,913		60,460		14	%
Commercial		17,204		16,246		6	%
Industrial		613		449		37	%
		86,730		77,155		12	%
End User Transportation*		104,788		100,113		5	%
TOTAL SALES		191,518		177,268		8	%

* Includes choice customers

Gas Revenue — MichCon Service Area ($000s)

	YTD 2011		YTD 2010		% Change
Residential		677,691		693,160		-2	%
Commercial		162,262		181,127		-10	%
Industrial		5,105		4,477		14	%
		845,058		878,764		-4	%
End User Transportation*		154,747		142,609		9	%
TOTAL REVENUES		999,805		1,021,373		-2	%

* Includes choice customers

Weather

Cooling Degree Days
Detroit Edison service territory

	YTD 2011			YTD 2010			% Change
Actuals		1,035			1,066			-3	%
Normal		730			730
Deviation from normal		42	%		46	%

Heating Degree Days
MichCon service territory

	YTD 2011			YTD 2010			% Change
Actuals		4,416			3,772			17	%
Normal		4,144			4,197
Deviation from normal		7	%		-10	%

Earnings Impact of Weather
Variance from normal weather ($millions, after-tax)

	YTD 2011		YTD 2010
MichCon		11		(11	)

Colder weather increased MichCon’s earnings by $11M YTD 2011

Detroit Edison Temperature Normal Sales Analysis -
September 30, 2011

Temperature Normal Electric Sales — Detroit Edison
Service Area (GWh)

	3Q 2011		3Q 2010		% Change
Residential		4,183		4,379		-4	%
Commercial		4,484		4,524		-1	%
Industrial		2,577		2,337		10	%
Other		782		798		-2	%
		12,026		12,038		0	%
Choice		1,336		1,245		7	%
TOTAL SALES		13,362		13,282		1	%

Temperature Normal Electric Sales — Detroit Edison
Service Area (GWh)

	YTD 2011		YTD 2010		% Change
Residential		11,484		11,531		0	%
Commercial		12,431		12,382		0	%
Industrial		7,320		7,408		-1	%
Other		2,343		2,398		-2	%
		33,578		33,718		0	%
Choice		4,036		3,614		12	%
TOTAL SALES		37,614		37,332		1	%

Temperature Normal Electric Sales — Detroit Edison
Service Area (Includes Electric Choice) (GWh)

	3Q 2011		3Q 2010		% Change
Residential		4,183		4,379		-4	%
Commercial		5,364		5,407		-1	%
Industrial		3,033		2,698		12	%
Other		782		798		-2	%
TOTAL SALES		13,362		13,282		1	%

Temperature Normal Electric Sales — Detroit Edison
Service Area (Includes Electric Choice) (GWh)

	YTD 2011		YTD 2010		% Change
Residential		11,485		11,531		0	%
Commercial		14,915		14,743		1	%
Industrial		8,872		8,660		2	%
Other		2,343		2,398		-2	%
TOTAL SALES		37,614		37,332		1	%

EX-99.3

Exhibit 99.3

Third Quarter 2011 Earnings Conference Call November 4, 2011

Safe Harbor Statement The information contained herein is as of the date of this presentation. Many factors may impact forward-looking statements including, but not limited to, the following: economic conditions and population changes in our geographic area resulting in changes in demand, customer conservation, increased thefts of electricity and gas and high levels of uncollectible accounts receivable; changes in the economic and financial viability of suppliers and trading counterparties, and the continued ability of such parties to perform their obligations to the Company; access to capital markets and the results of other financing efforts which can be affected by credit agency ratings; instability in capital markets which could impact availability of short and long-term financing; the timing and extent of changes in interest rates; the level of borrowings; the potential for losses on investments, including nuclear decommissioning and benefit plan assets and the related increases in future expense and contributions; impact of regulation by the FERC, MPSC, NRC and other applicable governmental proceedings and regulations, including any associated impact on rate structures; the amount and timing of cost recovery allowed as a result of regulatory proceedings; the potential for increased costs or delays in completion of significant construction projects; the effects of weather and other natural phenomena on operations and sales to customers, and purchases from suppliers; environmental issues, laws, regulations, and the increasing costs of remediation and compliance, including actual and potential new federal and state requirements; health, safety, financial, environmental and regulatory risks associated with ownership and operation of nuclear facilities; impact of electric and gas utility restructuring in Michigan, including legislative amendments and Customer Choice programs; employee relations and the impact of collective bargaining agreements; unplanned outages; changes in the cost and availability of coal and other raw materials, purchased power and natural gas; volatility in the short-term natural gas storage markets impacting third-party storage revenues; cost reduction efforts and the maximization of plant and distribution system performance; the effects of competition; the uncertainties of successful exploration of unconventional gas resources and challenges in estimating gas and oil reserves with certainty; changes in and application of federal, state and local tax laws and their interpretations, including the Internal Revenue Code, regulations, rulings, court proceedings and audits, related appeals or new legislation; the cost of protecting assets against, or damage due to, terrorism or cyber attacks; the availability, cost, coverage and terms of insurance and stability of insurance providers; changes in and application of accounting standards and financial reporting regulations; changes in federal or state laws and their interpretation with respect to regulation, energy policy and other business issues; binding arbitration, litigation and related appeals; and risks discussed in public filings with the SEC. New factors emerge from time to time. We cannot predict what factors may arise or how such factors may cause our results to differ materially from those contained in any forward-looking statement. Any forward-looking statements refer only as of the date on which such statements are made. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. This presentation should also be read in conjunction with the "Forward-Looking Statements" sections in each of DTE Energy's and Detroit Edison's 2010 Forms 10-K and 2011 Forms 10-Q (which sections are incorporated herein by reference), and in conjunction with other SEC reports filed by DTE Energy and Detroit Edison. Cautionary Note - The Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this presentation such as "probable reserves" that the SEC's guidelines strictly prohibit us from including in filings with the SEC. You are urged to consider closely the disclosure in DTE Energy's 2010 Form 10-K and 2011 Forms 10-Q, File No. 1-11607, available from our offices or from our website at www.dteenergy.com. You can also obtain these Forms from the SEC by accessing its website at www.sec.gov or by calling 1- 800-SEC-0330. 2

3 Participants Dave Meador, Executive Vice President and CFO Peter Oleksiak, Vice President, Controller & Investor Relations Nick Khouri, Vice President and Treasurer Mark Rolling, Director of Investor Relations

4 Overview Third Quarter 2011 Earnings Results Cash Flow and Capital Expenditures Summary

Investment Thesis DTE Energy has a plan it believes will provide 5% - 6% long-term operating EPS growth, an attractive dividend yield and a strong balance sheet Utility growth plan driven by mandated investments Constructive regulatory structure and continued cost savings enable utilities to earn their authorized returns Plans in place to achieve operational excellence and customer satisfaction that are distinctive in our industry, with a focus on customer affordability Meaningful, low-risk growth opportunities in non- utility businesses continue to provide diversity in earnings and geography 5%-6% Average Annual EPS Growth Attractive Dividend 5

Overview 6 * Reconciliation to GAAP reported earnings included in the appendix DTE Energy 3Q 2011 operating earnings per share* of $1.07 vs. $0.96 in 3Q 2010; Detroit Edison results lower due primarily to higher O&M Power & Industrial earnings down following non-repeating earnings in 2010 Gas Storage & Pipelines continues to provide solid earnings stream Energy Trading earnings higher driven by improved 3Q economic performance Narrowing DTE 2011 operating EPS guidance to $3.50 - $3.70 from $3.40 - $3.70 Balance sheet remains strong Generated $1.5 billion in cash from operations YTD 2011 On pace to hit balance sheet targets in 2011 Closed on $1.8 billion 5-year credit facilities in October 2011 Final order in Detroit Edison rate case Enables Detroit Edison to earn its new 10.5% authorized ROE Provides for full recovery of projected capital investments

Detroit Edison Rate Order Summary 7 (CHART) Base Rate Increase Choice Migration Net Sales Rate Base Int. expense / Cap. mix Benefits/ Other Total Rate Increase $123 $91 $82 ($34) ($20) $175 10.5% allowed ROE Modified revenue decoupling mechanism Discontinuation of uncollectible, restoration, line clearance and choice trackers Choice fully recovered in base rates ($38) Depreciation rates ROE ($29) (millions)

YTD Actual 8 2011 Operating Earnings* Guidance (millions, except EPS) Prior Guidance * Reconciliation to GAAP reported earnings included in the appendix Revised Guidance Drivers Raising lower end of guidance range; increasing midpoint to $3.60 Lower authorized ROE at Detroit Edison Strong YTD economic performance at Energy Trading

9 Overview Third Quarter 2011 Earnings Results Cash Flow and Capital Expenditures Summary

Third Quarter 2011 Operating Earnings Per Share* Detroit Edison $0.92 Unconventional Gas Production ($0.01) Non-Utility $0.27 Gas Storage & Pipelines $0.08 Corporate & Other ($0.06) MichCon** ($0.06) $1.07 Power & Industrial Projects $0.07 * Reconciliation to GAAP reported earnings included in the appendix ** Includes Citizens Gas Utility Energy Trading $0.13 10

11 Third Quarter 2011 Operating Earnings Variance * Reconciliation to GAAP reported earnings included in the appendix Operating Earnings* ($ millions, except EPS) 3Q 2011 3Q 2010 Change Detroit Edison Higher planned O&M MichCon True-up of final rate order in 2010 and lower storage revenues in 2011 Non-Utility Power & Industrial due to non-repeating 2010 earnings Energy Trading due to improved economic performance in 3Q 2011 Corporate & Other primarily driven by lower interest expense in 2011 Drivers

(CHART) 12 Detroit Edison Variance Analysis * Reconciliation to GAAP reported earnings included in the appendix 3Q 2010 Operating Earnings $165 3Q 2011 Operating Earnings Margin $1 ($ millions) Detroit Edison Operating Earnings* Variance $157 Margin driven by higher rates offset by true-up of final rate order O&M reflects higher planned maintenance activities Other Drivers ($8) O&M

13 Overview Third Quarter 2011 Earnings Results Cash Flow and Capital Expenditures Summary

(CHART) 14 *Debt excludes securitization, a portion of MichCon's short-term debt, and considers 50% of the trust preferreds as equity Targeted Financial Metrics A strong balance sheet continues to be a key priority Leverage and cash flow metrics within targeted ranges, without new equity in 2011 Issued over $1 billion of new or refinanced debt this year, generating annual interest savings of nearly $25 million Closed on $1.8 billion 5-year credit facilities in October 2011 $1.6 billion of available liquidity at end of 3Q 2011 Leverage* Funds from Operations / Debt* (CHART) 51% 51% Target 50% - 52% 28% 23% Target 22% - 24% 53% 22%

15 YTD 2011 Cash Flow DTE Energy Cash Flow* (billions) Cash from operations comparable to strong levels achieved in 2010 Increased capital spend reflects higher renewable energy and environmental investments at Detroit Edison Positive YTD net cash after capital and dividends * Includes securitization Drivers

16 YTD 2011 Capital Expenditures DTE Energy Capital Expenditures (millions) Detroit Edison primarily driven by increased spending on wind projects and higher environmental spend at Monroe Power Plant, offset partially by 2010 nuclear fuel cost related to outage cycle MichCon spending increased due to mainline renewal and meter relocation projects Gas Storage & Pipelines lower due to equity contribution for Millennium pipeline in 2010 Drivers

17 Overview Third Quarter 2011 Earnings Results Cash Flow and Capital Expenditures Summary

Summary 18 * Reconciliation to GAAP reported earnings included in the appendix Solid YTD earnings results Narrowing 2011 operating EPS* guidance to $3.50 - $3.70 Final order in Detroit Edison rate case Growth investments on track Balance sheet and cash flow metrics remain strong EEI Financial Conference presentation - November 8, 9:45AM EST Gerry Anderson - Chairman, President and CEO Dave Meador - Executive Vice President and CFO

19 Contact Us DTE Energy Investor Relations www.dteenergy.com/investors 313-235-8030

Appendix

21 2011 Capital Expenditures & Cash Flow Guidance Capital Expenditures (millions) Cash Flow Summary* (billions) * Includes securitization

(CHART) DTE Energy Trading Reconciliation of Operating Earnings* to Economic Net Income ** Consists of the income statement effect of not recognizing changes in the fair market value of certain non- derivative contracts including physical inventory and capacity contracts for transportation, transmission and storage. These contracts are not MTM, instead are recognized for accounting purposes on an accrual basis. (millions) YTD 2011 Economic Net Income Accounting Adjustments** YTD 2011 Operating Earnings* $10 $46 Economic net income equals economic gross margin*** minus O&M expenses and taxes. DTE Energy management uses economic net income as one of the performance measures for external communications with analysts and investors. Internally, DTE Energy uses economic net income as one of the measures to review performance against financial targets and budget. * Reconciliation to GAAP reported earnings included in the appendix *** Economic gross margin is the change in net fair value of realized and unrealized purchase and sale contracts including certain non-derivative contract costs Energy Trading Operating Earnings* Realized Unrealized O&M / Other YTD 2010 YTD 2011 $30 $51 24 11 (41) (39) ($ millions, after-tax) $0 $36 (CHART) $0 $23 $23 YTD 2010 Operating Earnings* YTD 2010 Economic Net Income Accounting Adjustments** 22 $36

(CHART) (CHART) (CHART) Net Production (Bcfe) Gross Producing Wells 209 Reserves (Bcfe) Acreage Position (000's Acres) Net Undeveloped Acres Net Developed Acres Barnett Shale Operating Metrics 17 3Q 2011 69 86 16 54 YE2010 70 3Q 2011 YE2010 194 5.5 YE2010 4.8 (CHART) YE2010 YE2009 Probable (Unaudited) Proven 354 201 555 255 234 489 Continue to prudently manage and develop Barnett assets Invest $25 - $30 million Drill 20 - 25 wells Produce 5.5 Bcfe net, increase oil production Develop oil reserves 15 new wells on-line, 4 in progress Production of 3.8 Bcfe 56% increase in oil sales volume year-over-year Capital expenditures $23 million Acquired 16k acres, net 2011 YTD Results 2011 Goals YE 2011 Est.

24 Use of Operating Earnings Information - DTE Energy management believes that operating earnings provide a more meaningful representation of the company's earnings from ongoing operations and uses operating earnings as the primary performance measurement for external communications with analysts and investors. Internally, DTE Energy uses operating earnings to measure performance against budget and to report to the Board of Directors. Reconciliation of YTD September 30, 2011 Reported to Operating Earnings

25 Use of Operating Earnings Information - DTE Energy management believes that operating earnings provide a more meaningful representation of the company's earnings from ongoing operations and uses operating earnings as the primary performance measurement for external communications with analysts and investors. Internally, DTE Energy uses operating earnings to measure performance against budget and to report to the Board of Directors. Reconciliation of YTD September 30, 2010 Reported to Operating Earnings * Deferral of previously expensed cost to achieve as allowed for in June 3, 2010 MPSC order (case - U-15985)

26 Reconciliation of Full Year 2011, 3Q 2011 and 3Q 2010 Reported to Operating Earnings and Use of Operating Earnings Information - DTE Energy management believes that operating earnings provide a more meaningful representation of the company's earnings from ongoing operations and uses operating earnings as the primary performance measurement for external communications with analysts and investors. Internally, DTE Energy uses operating earnings to measure performance against budget and to report to the Board of Directors. In this presentation, DTE Energy provides 2011 guidance for operating earnings. It is likely that certain items that impact the company's 2011 reported results will be excluded from operating results. A reconciliation to the comparable 2011 reported earnings/net income guidance is not provided because it is not possible to provide a reliable forecast of specific line items. These items may fluctuate significantly from period to period and may have a significant impact on reported earnings. There were no reported to operating adjustments in 3Q 2010 or 3Q 2011