DTE Energy 2008 Annual Report Download - page 4

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Outlook — Higher gas prices and deteriorating economic conditions have resulted in continued pressure on receivables and working capital
requirements that are partially mitigated by the MPSC’s GCR and uncollectible true-up mechanisms. We will continue to seek opportunities to
improve productivity, minimize lost gas, remove waste and decrease our costs while improving customer satisfaction.
The following variables, either individually or in combination, could impact our future results:
2
• Access to capital markets and capital market conditions 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 or the potential for loss on cash
equivalents and investments;
• Economic conditions within Michigan and corresponding impacts on demand for gas and levels of lost or stolen gas;
• Collectibility of accounts receivable;
• Increases in future expense and contributions to pension and other postretirement plans due to declines in value resulting from market
conditions;
• The amount and timing of cost recovery allowed as a result of regulatory proceedings, related appeals or new legislation;
• Our ability to reduce costs and maximize distribution system performance;
• Variations in market prices of gas;
• Weather;
• Customer conservation;
• Volatility in the short-term storage markets which impact third-party storage revenues;
• Extent and timing of any base gas sales; and
• Any potential new federal and state environmental, renewable energy and energy efficiency requirements.