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): April 27, 2012

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

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:

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

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

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

¨ 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 April 27, 2012, announcing financial results for the quarter ended March 31, 2012. 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 reaffirms its 2012 operating earnings per share guidance of $3.65-$3.95 per share.

Item 7.01. Regulation FD Disclosure.

DTE Energy is furnishing the SEC with its slide presentation issued April 27, 2012. 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 2012 operating earnings guidance. It is likely that certain items that impact the company’s 2012 reported results will be excluded from operating results. Reconciliations to the comparable 2012 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 April 27, 2012.
99.2	Financial Information Distributed for Media and Investor Relations Communications dated April 27, 2012.
99.3	Slide Presentation of DTE Energy Company dated April 27, 2012.

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” section in DTE Energy’s and The Detroit Edison Company’s (Detroit Edison) 2011 Form 10-K (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: April 27, 2012

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 April 27, 2012.
99.2	Financial Information Distributed for Media and Investor Relations Communications dated April 27, 2012.
99.3	Slide Presentation of DTE Energy Company dated April 27, 2012.

EX-99.1

Exhibit 99.1

DTE Energy reports first quarter 2012 results;

Maintains earnings guidance

DETROIT – DTE Energy (NYSE:DTE) today reported first quarter 2012 earnings of $156 million, or $0.91 per diluted share, compared with $176 million, or $1.04 per diluted share in 2011. Unusually warm weather negatively impacted first quarter earnings at MichCon, Detroit Edison and Energy Trading.

Operating earnings for the first quarter 2012 were $156 million, or $0.91 per diluted share, compared with 2011 operating earnings of $188 million, or $1.11 per diluted share. Operating earnings exclude non-recurring items and discontinued operations. Reconciliations of reported earnings to operating earnings are at the end of this news release.

“The extremely warm weather this winter translated into lower bills for customers. At the same time, it created clear challenges for us,” said David E. Meador, DTE Energy executive vice president and chief financial officer. “This quarter’s earnings were lower than expected because of the weather, but we believe that by leveraging DTE Energy’s portfolio of businesses, using our distinctive continuous improvement program, and through one-time cost reductions, we will identify opportunities throughout the balance of the year to offset the impacts of this unfavorable weather and meet our financial goals.”

DTE Energy reiterated its 2012 operating earnings guidance of $3.65 to $3.95 per diluted share.

“We continue to see signs of economic recovery in Michigan,” said Gerard M. Anderson, DTE Energy’s chairman, president and CEO. “An example of this is recently released data indicating that Michigan’s unemployment rate is 8.5%, down from 10.5% at this time last year.”

DTE Energy said it remains committed to contributing to the Michigan recovery through itsinvestments in renewable energy, environmental controls and utility infrastructure improvements.

“Last year, DTE Energy made a five year commitment as part of the Pure Michigan Business Connect initiative to increase our spending on goods and services with Michigan-based suppliers,” Anderson said. “In the first quarter of 2012, we did $180 million in business with Michigan companies, which is nearly $50 million more than the first quarter of 2011.”

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, April 27, to discuss first quarter 2012 earnings results. Investors, the news media and the public may listen to a live internet broadcast of the call at www.dteenergy.com/investors. The telephone dial-in numbers areUS/CAN Toll free: (888) 244-2488 or Int’l Toll: (913) 312-1227. The passcode is 5197948. The internet broadcast will be archived on the company’s website. An audio replay of the call will be available from noontodaytoMay 11. To access the replay, dial (888) 203-1112 or (719) 457-0820 and enter passcode 5197948.

DTE Energy 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 2012 operating earnings guidance. It is likely that certain items that impact the company’s 2012 reported results will be excluded from operating results. Reconciliations to the comparable 2012 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: 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, related appeals or new legislation; impact of electric and gas utility restructuring in Michigan, including legislative amendments and Customer Choice programs; 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; 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; 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; 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; the potential for increased costs or delays in completion of significant construction projects; the uncertainties of successful exploration of unconventional gas and oil 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; the effects of weather and other natural phenomena on operations and sales to customers, and purchases from suppliers; unplanned outages; the cost of protecting assets against, or damage due to, terrorism or cyber attacks; employee relations and the impact of collective bargaining agreements; the availability, cost, coverage and terms of insurance and stability of insurance providers; cost reduction efforts and the maximization of plant and distribution system performance; the effects of competition; 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 the risks discussed in our public filings with the Securities and Exchange Commission. 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 2011 Forms 10-K (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 call:

Scott Simons (313) 235-8808	Len Singer (313) 235-8809
Analysts, for further information call:
Mark Rolling (313) 235-7663	Kurt Wasiluk (313) 235-7726

DTE Energy Company

Consolidated Statements of Operations (unaudited)

	Three Months Ended
	March 31
(in Millions, Except per Share Amounts)	2012			2011
Operating Revenues	$	2,249		$	2,431
Operating Expenses
Fuel, purchased power and gas		889			1,071
Operation and maintenance		726			631
Depreciation, depletion and amortization		232			245
Taxes other than income		95			83
Asset (gains) and losses, reserves and impairments, net		(5	)		11
		1,937			2,041
Operating Income		312			390
Other (Income) and Deductions
Interest expense		113			126
Interest income		(2	)		(3	)
Other income		(37	)		(21	)
Other expenses		7			7
		81			109
Income Before Income Taxes		231			281
Income Tax Expense		73			103
Net Income		158			178
Less: Net Income Attributable to Noncontrolling Interests		2			2
Net Income Attributable to DTE Energy Company	$	156		$	176
Basic Earnings per Common Share
Net Income Attributable to DTE Energy Company	$	0.91		$	1.04
Diluted Earnings per Common Share
Net Income Attributable to DTE Energy Company	$	0.91		$	1.04
Weighted Average Common Shares Outstanding
Basic		170			169
Diluted		170			170
Dividends Declared per Common Share	$	.59		$	.56

DTE Energy Company

Segment Net Income (Unaudited)

	Three Months Ended March 31
	2012								2011
(in Millions)	Reported Earnings			Adjustments		Operating Earnings			Reported Earnings			Adjustments			Operating Earnings
Electric Utility	$	96		$	—	$	96		$	85		$	12	A	$	97
Gas Utility		52			—		52			83			—			83
Non-utility Operations
Gas Storage and Pipelines		17			—		17			15			—			15
Unconventional Gas Production		(1	)		—		(1	)		(2	)		—			(2	)
Power and Industrial Projects		8			—		8			10			—			10
Energy Trading		(2	)		—		(2	)		2			—			2
Total Non-utility operations		22			—		22			25			—			25
Corporate and Other		(14	)		—		(14	)		(17	)		—			(17	)
Net Income Attributable to DTE Energy Company	$	156		$	—	$	156		$	176		$	12		$	188

Adjustments key

A) Fermi 1 asset retirement obligation

DTE Energy Company

Segment Diluted Earnings Per Share (Unaudited)

	Three Months Ended March 31
	2012								2011
	Reported					Operating			Reported						Operating
	Earnings			Adjustments		Earnings			Earnings			Adjustments			Earnings
Electric Utility	$	0.56		$	—	$	0.56		$	0.50		$	0.07	A	$	0.57
Gas Utility		0.31			—		0.31			0.49			—			0.49
Non-utility Operations
Gas Storage and Pipelines		0.10			—		0.10			0.09			—			0.09
Unconventional Gas Production		(0.01	)		—		(0.01	)		(0.01	)		—			(0.01	)
Power and Industrial Projects		0.05			—		0.05			0.06			—			0.06
Energy Trading		(0.01	)		—		(0.01	)		0.01			—			0.01
Total Non-utility operations		0.13			—		0.13			0.15			—			0.15
Corporate and Other		(0.09	)		—		(0.09	)		(0.10	)		—			(0.10	)
Net Income Attributable to DTE Energy Company	$	0.91		$	—	$	0.91		$	1.04		$	0.07		$	1.11

Adjustments key

A) Fermi 1 asset retirement obligation

EX-99.2

Exhibit 99.2

DTE ENERGY COMPANY

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (UNAUDITED)

(In millions)	March 31 2012			December 31 2011
ASSETS
Current Assets
Cash and cash equivalents	$	57		$	68
Restricted cash, principally Securitization		86			147
Accounts receivable (less allowance for doubtful accounts of $160 and $162, respectively)
Customer		1,262			1,317
Other		122			90
Inventories
Fuel and gas		447			572
Materials and supplies		219			219
Deferred income taxes		62			51
Derivative assets		277			222
Regulatory assets		232			314
Other		187			196
		2,951			3,196
Investments
Nuclear decommissioning trust funds		1,004			937
Other		532			525
		1,536			1,462
Property
Property, plant and equipment		22,780			22,541
Less accumulated depreciation, depletion and amortization		(8,856	)		(8,795	)
		13,924			13,746
Other Assets
Goodwill		2,020			2,020
Regulatory assets		4,423			4,539
Securitized regulatory assets		536			577
Intangible assets		70			73
Notes receivable		120			123
Derivative assets		78			74
Other		188			199
		7,435			7,605
Total Assets	$	25,846		$	26,009

DTE ENERGY COMPANY

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (UNAUDITED) — (Continued)

(In millions, except shares)	March 31 2012			December 31 2011
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$	690		$	782
Accrued interest		121			95
Dividends payable		100			99
Short-term borrowings		313			419
Current portion long-term debt, including capital leases		530			526
Derivative liabilities		238			158
Gas inventory equalization		114			—
Other		424			549
		2,530			2,628
Long-Term Debt (net of current portion)
Mortgage bonds, notes and other		6,404			6,405
Securitization bonds		391			479
Junior subordinated debentures		280			280
Trust preferred-linked securities		—			—
Capital lease obligations		18			23
		7,093			7,187
Other Liabilities
Deferred income taxes		3,188			3,116
Regulatory liabilities		1,018			1,019
Asset retirement obligations		1,615			1,591
Unamortized investment tax credit		63			65
Derivative liabilities		99			89
Accrued pension liability		1,300			1,298
Accrued postretirement liability		1,342			1,484
Nuclear decommissioning		156			148
Other		295			331
		9,076			9,141
Commitments and Contingencies
Equity
Common stock, without par value, 400,000,000 shares authorized, 170,112,217 and 169,247,282 shares issued and outstanding, respectively		3,453			3,417
Retained earnings		3,804			3,750
Accumulated other comprehensive loss		(153	)		(158	)
Total DTE Energy Company Equity		7,104			7,009
Noncontrolling interests		43			44
Total Equity		7,147			7,053
Total Liabilities and Equity	$	25,846		$	26,009

DTE ENERGY COMPANY

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

	Three Months Ended March 31
(In millions)	2012			2011
Operating Activities
Net income	$	158		$	178
Adjustments to reconcile net income to net cash from operating activities:
Depreciation, depletion and amortization		232			245
Deferred income taxes		58			48
Asset (gains) and losses, reserves and impairments, net		(19	)		11
Changes in assets and liabilities, exclusive of changes shown separately		191			240
Net cash from operating activities		620			722
Investing Activities
Plant and equipment expenditures — utility		(331	)		(253	)
Plant and equipment expenditures — non-utility		(61	)		(17	)
Proceeds from sale of assets		11			4
Restricted cash for debt redemption, principally Securitization		63			53
Proceeds from sale of nuclear decommissioning trust fund assets		11			20
Investment in nuclear decommissioning trust funds		(15	)		(28	)
Other		(21	)		(23	)
Net cash used for investing activities		(343	)		(244	)
Financing Activities
Redemption of long-term debt		(86	)		(94	)
Short-term borrowings, net		(106	)		(150	)
Issuance of common stock, net		10			—
Dividends on common stock		(99	)		(95	)
Other		(7	)		2
Net cash used for financing activities		(288	)		(346	)
Net Increase (Decrease) in Cash and Cash Equivalents		(11	)		132
Cash and Cash Equivalents at Beginning of Period		68			65
Cash and Cash Equivalents at End of Period	$	57		$	197

THE DETROIT EDISON COMPANY

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

	Three Months Ended March 31
(in Millions)	2012			2011
Operating Revenues	$	1,198		$	1,192
Operating Expenses
Fuel and purchased power		377			378
Operation and maintenance		355			329
Depreciation and amortization		185			202
Taxes other than income		68			59
Asset (gains) and losses, net		—			19
		985			987
Operating Income		213			205
Other (Income) and Deductions
Interest expense		69			71
Interest income		—
Other income		(16	)		(10	)
Other expenses		6			6
		59			67
Income Before Income Taxes		154			138
Income Tax Expense		57			53
Net Income	$	97		$	85

MICHIGAN CONSOLIDATED GAS COMPANY

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

	Three Months Ended March 31
(in Millions)	2012			2011
Operating Revenues	$	501		$	680
Operating Expenses
Cost of gas		271			399
Operation and maintenance		99			101
Depreciation and amortization		23			22
Taxes other than income		18			17
		411			539
Operating Income		90			141
Other (Income) and Deductions
Interest expense		15			16
Interest income		(2	)		(2	)
Other income		(2	)		(2	)
Other expenses		1			1
		12			13
Income Before Income Taxes		78			128
Income Tax Expense		27			46
Net Income	$	51		$	82

DTE Energy Debt/Equity Calculation

As of March 31, 2012

($ millions)

Short-term borrowings	$	313
Current portion of long-term debt, including capital leases		530
Mortgage bonds, notes and other		6,404
Securitization bonds, excluding current portion		391
Capital lease obligations		18
Other adjustments		248
less Securitization bonds, including current portion		(559	)
50% Junior Subordinated Debentures		140
Total debt		7,485
50% Junior Subordinated Debentures		140
Total preferred/ other		140
Equity		7,104
Total capitalization	$	14,729
Debt		51	%
Junior Subordinated Debentures		1	%
Common shareholders’ equity		48	%
Total		100	%

Sales Analysis - 1Q 2012

Electric Sales - Detroit Edison Service Area (GWh)

	1Q 2012		1Q 2011		% Change
Residential		3,700		3,889		-5	%
Commercial		3,885		3,993		-3	%
Industrial		2,374		2,342		1	%
Other1		258		280		-8	%
		10,217		10,503		-3	%
Choice		1,254		1,302		-4	%
TOTAL SALES		11,471		11,805		-3	%

¹  2011 Excludes 518 GWh related to a wholesale contract terminated Dec. 2011

Gas Sales - MichCon Service Area (MMcf)

	1Q 2012		1Q 2011		% Change
Residential		36,793		47,659		-23	%
Commercial		8,652		12,503		-31	%
Industrial		235		299		-22	%
		45,680		60,461		-24	%
End User Transportation*		48,014		51,724		-7	%
TOTAL SALES		93,694		112,185		-16	%

* Includes choice customers

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

	1Q 2012		1Q 2011		% Change
Residential		546,791		519,437		5	%
Commercial		429,512		395,706		9	%
Industrial		183,400		164,301		12	%
Other2		25,849		25,989		-1	%
		1,185,552		1,105,434		7	%
Choice		20,785		26,034		-20	%
TOTAL REVENUES		1,206,337		1,131,468		7	%

²  2011 Excludes $22,723k related to a wholesale contract terminated Dec. 2011

Gas Revenue - MichCon Service Area ($000s)

	1Q 2012		1Q 2011		% Change
Residential		321,645		443,274		-27	%
Commercial		72,995		113,370		-36	%
Industrial		1,804		2,512		-28	%
		396,444		559,157		-29	%
End User Transportation*		73,177		81,232		-10	%
TOTAL REVENUES		469,621		640,389		-27	%

* Includes choice customers

Weather

Cooling Degree Days

Detroit Edison service territory

	1Q 2012		1Q 2011		% Change
Actuals		16		—		N/A
Normal		—		—
Deviation from normal		N/A		N/A

Earnings Impact of Weather

Variance from normal weather ($millions, after-tax)

	1Q 2012			1Q 2011
MichCon		(23	)		9

Heating Degree Days

MichCon service territory

	1Q 2012			1Q 2011			% Change
Actuals		2,525			3,451			-27	%
Normal		3,225			3,213
Deviation from normal		-22	%		7	%

EX-99.3

Exhibit 99.3

1st Quarter 2012

Earnings Conference Call

April 27, 2012

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: 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, related appeals or new legislation; impact of electric and gas utility restructuring in Michigan, including legislative amendments and Customer Choice programs; 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; 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; 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; access to capital markets and the results of other financing efforts which can be affected by credit agenc y 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; the potential for increased costs or delays in completion of significant construction projects; the uncertainties of successful exploration of unconventional gas and oil 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; the effects of weather and other natural phenomena on operations and sales to customers, and purchases from suppliers; unplanned outages; the cost of protecting assets against, or damage due to, terrorism or cyber attacks; employee relations and the impact of collective bargaining agreements; the availability, cost, coverage and terms of insurance and stability of insurance providers; cost reduction efforts and the maximization of plant and distribution system performance; the effects of competition; 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 the risks discussed in our public filings with the Securities and Exchange Commission. 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 2011 Forms 10-K (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 2011 Form 10-K, File No. 1-11607, available from our offices or from our website at www.dteenergy.com. You can also obtain this Forms from the SEC by accessing its website at www.sec.gov or by calling 1-800-SEC-0330.

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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

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• Overview

• First Quarter 2012 Earnings Results

• Cash Flow and Capital Expenditures

• Summary

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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

5%-6% Average Annual EPS Growth

– Constructive regulatory structure and continued cost savings enable utilities to earn their authorized returns

Attractive Dividend

– 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

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Overview

DTE Energy 1Q 2012 operating earnings per share* of $0.91 vs. $1.11 in 1Q 2011; maintaining 2012 operating earnings guidance of $3.65—$3.95

– Detroit Edison results are flat year over year

– MichCon experienced unusually warm weather in 1Q 2012; working to offset weather impact

• Rate case filed April 20, 2012 for $77 million

– Energy Trading had a slight 1Q 2012 loss from unprecedented mild weather

Will leverage opportunities across portfolio of businesses to help offset unfavorable 1Q 2012 weather

Balance sheet remains strong

– Generated $620 million in cash from operations 1Q 2012

– On pace to hit balance sheet targets in 2012

* Reconciliation to GAAP reported earnings included in the appendix 6

2012 Operating Earnings Guidance*

2011 2012

2012 Drivers

($ millions, except EPS) Actual* Guidance

Full year rate order impact at lower ROE, increased earnings

Detroit Edison $443 $438 $ ? 448 from renewable investments, and one-time tax items in 2011 Continued cost control to offset 1Q unfavorable weather;

MichCon 110 110 115 ?

2Q rate case filing

Modest incremental earnings from existing projects; more

Gas Storage & Pipelines 57 57 60 ? significant growth begins in 2013 from new projects

Unconventional Gas Targeting monetization

(6) 0 Production Power & Industrial

38 45 55 ? Incremental earnings from reduced emissions fuel (REF)

Projects

Unprecedented 1Q warm weather pressuring 2012 earnings;

Energy Trading 52 30 ?50 balance of year assumed at historical levels

Corporate & Other (61) (54) Primarily lower interest expense

DTE Energy $633 $626 $ ? 674

Operating EPS $3.73 $3.65 $ ? 3.95

Avg. Shares Outstanding 170 171

* Reconciliation to GAAP reported earnings included in the appendix 7

MichCon Rate Case Filing (U-16999)

Estimated Net Rate Request Rate Case Highlights

($ millions) Represents annual base rate growth of

$1 $77

$27 ~4%* since last rate increase; combined with declining gas prices, annual bills decreasing ~5%*

• Lower sales due to customer $49 conservation and lower midstream revenues

• $377 million increase in rate base

• Other highlights

– 11% return on equity

– Modified revenue decoupling mechanism

– Infrastructure recovery mechanism for main renewal, meter move-out and pipeline integrity

• Timing

– Filed: April 2012

– Self-implement: November 2012

– Final Order: By April 2013

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*Projected annualized residential change from 2010 to 2013 (weather normalized)

• Overview

• First Quarter 2012 Earnings Results

• Cash Flow and Capital Expenditure

• Summary

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First Quarter 2012 Operating Earnings Per Share*

$0.91

Detroit Edison MichCon** Non-Utility Corporate & Other $0.56 $0.31 $0.13 ($0.09)

Gas Storage & Unconventional Power & Industrial Energy Pipelines Gas Production Projects Trading $0.10 ($0.01) $0.05 ($0.01)

* Reconciliation to GAAP reported earnings included in the appendix

** Includes Citizens Gas Utility 10

First Quarter 2012 Operating Earnings Variance

Operating Earnings* Drivers

($ millions, except EPS)

1Q 2011 1Q 2012 Change

Detroit Edison

Detroit Edison $ 97 $ 96 $ (1) • Higher customer restoration costs and 2011 true-up of EE incentives offset by increased margin and MichCon 83 52 (31) growth in renewables Gas Storage and

15 17 2 MichCon Pipelines

• Unusually warm weather in 1Q 2012 and colder than Unconventional Gas normal weather in 1Q 2011 (2) (1) 1 Production Power & Industrial Projects 10 8 (2) Non-Utility

• Gas Storage & Pipelines due to higher transportation Energy Trading 2 (2) (4) revenue

• Power & Industrial driven by one time items offset by Corporate & Other (17) (14) 3 REF growth

• Energy Trading lower performance due to 1Q 2012

DTE Energy $ 188 $ 156 $ (32) weather

Operating EPS $ 1.11 $ 0.91 $ (0.20) Corporate & Other

• Primarily lower interest expense Avg. Shares Outstanding 170.0 170.3

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* Reconciliation to GAAP reported earnings included in the appendix

Detroit Edison Variance Analysis

Detroit Edison Operating Earnings* Variance Drivers

($ millions)

$9 ($6) $5 ($8) • Margin reflects rate increase partially

$97 ($1) $96 offset by warmer weather

• Two year true-up of EE incentives recorded in 2011

• Growth in earnings on renewable energy investments

• O&M primarily driven by increased customer restoration activity and higher benefit costs

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* Reconciliation to GAAP reported earnings included in the appendix

• Overview

• First Quarter 2012 Earnings Results

• Cash Flow and Capital Expenditures

• Summary

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Strong Balance Sheet Supports Growth

Leverage*

Target

50%—52% • A strong balance sheet remains a key DTE priority

51% 51% 50%

• Series of credit improvements in 2012

– Fitch upgraded Detroit Edison and MichCon 2010 2011 2012E – Moody’s raised its outlook to Positive

• Leverage and cash flow metrics within targeted ranges

Funds from Operations / Debt* • $1.4 billion of available liquidity as of March 31, 2012

Target 22%—24% 28% 24% 22%

2010 2011 2012E

*Debt excludes securitization, a portion of MichCon’s short-term debt, and considers 50% of the Trust Preferreds/Junior Subordinated Notes as equity 14

First Quarter 2012 Cash Flow

DTE Energy Cash Flow* Drivers

($ billions)

1Q 2011 1Q 2012 • Cash flow remains strong this year

Cash From • Cash from operations down slightly from Operations $0.7 $0.6 near historical levels last year, mainly due to federal taxes

Capital Spending (0.3) (0.4)

Free Cash Flow $0.4 $0.2 • Even with higher investment spending, net cash was positive in the first quarter

Asset Sales — —• Reconfirming full year cash and capital 2012

Dividends (0.1) (0.1) guidance

Net Cash $0.3 $0.1

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* Includes securitization

First Quarter 2012 Capital Expenditures

DTE Energy Capital Expenditures Drivers

($ millions) 1Q 2011 1Q 2012 Detroit Edison

Operational $177 $238 • Capital spending is higher than last year for all

DTE businesses

Environmental 39 29 • Detroit Edison investments are up year over year Renewables / EE 3 17 driven by increased spending for renewables and $219 $284 Fermi refueling outage

MichCon

Operational $31 $42 • Increased investments in the non-utility Expansion 3 3 businesses reflect higher spending in Gas Storage and Pipelines and Power & Industrial

$34 $45

Non-Utility

Gas Storage and

2 25 Pipelines Unconventional Gas 8 9 Power & Industrial 26 41 Energy Trading — -

$36 $75

Corporate & Other $1 -

Total $290 $404

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• Overview

• First Quarter 2012 Earnings Results

• Cash Flow and Capital Expenditures

• Summary

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Summary

?1Q 2012 operating EPS* of $0.91 impacted by unusually warm weather

?Leverage portfolio of businesses to achieve current EPS guidance of $3.65—$3.95

?Mandated utility investments and meaningful, low-risk growth opportunities in our non-utility businesses expected to provide 5%—6% annual EPS growth going forward

?Balance sheet and cash flow metrics remain strong

AGA conference presentation is May 7 at 2:15 PM MST with Gerry Anderson – Chairman, President & CEO

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* Reconciliation to GAAP reported earnings included in the appendix

Contact Us

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

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Appendix

DTE Energy Trading Reconciliation of Operating Earnings* to Economic Net Income

Operating Earnings* to Economic Net Income Energy Trading Operating ($ millions) Earnings*

• Economic net income ($ millions, after-tax) equals economic gross $0 margin*** minus O&M

1Q 2011 1Q 2012 expenses and taxes

($2) ($2)

• DTE Energy management Realized $16 $20 uses economic net income Unrealized

1Q 2012 Operating Accounting 1Q 2012 as one of the performance—(11) Earnings* Adjustments** Economic Net Income measures for external O&M / Other (14) (11) communications with $2 ($2) analysts and investors

• Internally, DTE Energy

$22 $24 uses economic net income as one of the measures to review performance against financial targets and budget $2

1Q 2011 Operating Accounting 1Q 2011 Earnings* Adjustments** Economic Net Income

* Reconciliation to GAAP reported earnings included in the appendix

** 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 *** Economic gross margin is the change in net fair value of realized and unrealized purchase and sale contracts including certain non-derivative contract costs

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Barnett Shale Operating Metrics

Reserves (Bcfe) Acreage Position (000’s Acres) 1Q 2012 Results

87 88 • 9 new wells on-line, 6 in progress

555 559

17 17 Net • Production of 1.3 Bcfe (60% liquids) 201 186 Proven Developed • 58% increase in oil sales volume year-Acres over-year

71 Net 70

354 373 Probable Undeveloped

(Unaudited) Acres

2012 Goals

YE2010 YE2011 YE2011 1Q 2012

• Prudently manage Barnett assets and focus on developing liquids production

Gross Producing Wells Net Production (Bcfe)

• Pursue monetization opportunities

224

215 6—7 5.1

YE2011 1Q 2012 YE2011 YE 2012E

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Unconventional Gas: Barnett Shale Assets Focused on Marble Falls Oil Play

Oil and NGLs* driving value

• Focus on maturing Marble Falls oil play Revenue by product (%)

• Wells confirming resource play

Oil 60% – Vertical wells initial production up to 250 bbls oil per day plus liquids rich gas NGL 30% – Potential upside with horizontal wells Gas 10% – ~65,000 net acre Marble Falls position

2010 2011 2012E

• Well payback period of 6-24 months at current prices

– Vertical well costs of $800k

Proved reserves by product (%) – Attractive economics at current prices Oil 11%

NGL39%

Gas 50%

2009 2010 2011

* Natural gas liquids 23

2012 Capital Expenditures & Cash Flow Guidance

Capital Expenditures Cash Flow Summary

($ millions) ($ billions) 2011 2012

Actual Guidance 2011 2012 Actual Guidance

Detroit Edison

Operational $688 $785

Cash From Operations $2.0 $1.9 Environmental 186 255 Renewables / EO 328 235 Capital Spending (1.5) (1.9)

Free Cash Flow $0.5 $0.0 $1,202 $1,275

MichCon

Operational $155 $155 Asset Sales — 0.3 Expansion 25 60 Dividends (0.4) (0.4) $180 $215 Net Cash $0.1 ($0.1) Non-Utility / Corporate & $146 $430 Debt ($0.1) $0.1

Other

Total $1,528 $1,920

Equity issued for employee benefit programs is considered non-cash and not included in financing activities

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Reconciliation of 1Q 2011 Reported to Operating Earnings

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.

1Q 2011 Net Income ($ millions)

Gas Power &

DTE Electric Gas Storage & Unc. Gas Indust. Energy Corporate Energy Utility Utility Pipelines Prod. Projects Trading & Other Reported Earnings $176 $85 $83 $15 ($2) $10 $2 ($17) Fermi 1 Asset Retirement Obligation 12 12 — — — — — -

Operating Earnings $188 $97 $83 $15 ($2) $10 $2 ($17)

1Q 2011 $EPS

Gas Power &

DTE Electric Gas Storage & Unc. Gas Indust. Energy Corporate Energy Utility Utility Pipelines Prod. Projects Trading & Other Reported Earnings $1.04 $0.50 $0.49 $0.09 ($0.01) $0.06 $0.01 ($0.10) Fermi 1 Asset Retirement Obligation 0.07 0.07 — — — — — -

Operating Earnings $1.11 $0.57 $0.49 $0.09 ($0.01) $0.06 $0.01 ($0.10)

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Reconciliation of 2011 Reported to Operating Earnings

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.

2011 Net Income ($ millions)

Gas Power &

DTE Electric Gas Storage & Unc. Gas Indust. Energy Corporate Energy Utility Utility Pipelines Prod. Projects Trading & Other Reported Earnings $711 $434 $110 $57 ($6) $38 $52 $26

Michigan Corporate Income Tax

Adjustment (87) — — — — — — (87) Fermi 1 Asset Retirement Obligation 9 9 — — — — — -

Operating Earnings $633 $443 $110 $57 ($6) $38 $52 ($61)

2011 $EPS

Gas Power &

DTE Electric Gas Storage & Unc. Gas Indust. Energy Corporate Energy Utility Utility Pipelines Prod. Projects Trading & Other Reported Earnings $4.18 $2.55 $0.65 $0.34 ($0.04) $0.22 $0.31 $0.15

Michigan Corporate Income Tax

Adjustment (0.50) — — — — — — (0.50) Fermi 1 Asset Retirement Obligation 0.05 0.05 — — — — — -

Operating Earnings $3.73 $2.60 $0.65 $0.34 ($0.04) $0.22 $0.31 ($0.35)

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Reconciliation of Other Reported to Operating Earnings

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 guidance for future period operating earnings. It is likely that certain items that impact the company’s future period reported results will be excluded from operating results. A reconciliation to the comparable future period reported earnings 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 earnings adjustments in 1Q 2012.

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