DTE Energy 2014 Annual Report Download - page 5

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
Certain information presented herein includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995
with respect to the financial condition, results of operations and business of DTE Energy. Words such as “anticipate,” “believe,” “expect,” “projected,”
“aspiration” and “goals” signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions, but rather are
subject to numerous assumptions, risks and uncertainties that may cause actual future results to be materially different from those contemplated, projected,
estimated or budgeted. Many factors may impact forward-looking statements including, but not limited to, the following:
• impact of regulation by the EPA, FERC, MPSC, NRC, CFTC 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; including legislative
amendments and retail access programs;
• economic conditions and population changes in our geographic area resulting in changes in demand, customer conservation and thefts of
electricity and natural gas;
• 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;
• the potential for losses on investments, including nuclear decommissioning and benefit plan assets and the related increases in future expense
and contributions;
• volatility in the short-term natural gas storage markets impacting third-party storage revenues;
• volatility in commodity markets, deviations in weather and related risks impacting the results of our energy trading operations;
• 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 increased costs or delays in completion of significant construction projects;
• 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 risk of a major safety incident at an electric or gas distribution, storage or generation facility;
• 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;
• contract disputes, 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 speak 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.
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