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DETROIT EDISON ANNOUNCES EARNINGS INCREASE

 DETROIT EDISON ANNOUNCES EARNINGS INCREASE
 DETROIT, April 27 /PRNewswire/ -- The Detroit Edison Company


(NYSE: DTE) today announced earnings for common stock for the three months ended March 31, 1992, of $148.4 million, or $1.01 per share, up 18.8 percent from the $124.7 million, or 85 cents per share, for the first quarter of 1991.
 Total and per-share earnings for common stock increased due to higher operating revenue, continued reductions in fuel and purchased power expenses, and interest savings associated with the early redemption and refinancing of high-cost debt. Those savings were partially offset by higher operating expenses.
 For the 12 months ended March 31, earnings for common stock totaled $558.8 million, or $3.80 per share, compared with earnings of $476.4 million, or $3.24 per share, for the same period a year ago.
 Operating revenues were $896 million for the first quarter, compared with $865 million in the first quarter of 1991. For the 12-month period, operating revenues were $3.62 billion, compared with $3.53 billion for the same period a year ago.
 An increase in operating revenue for the three- and 12-month periods resulted from previously approved rate increases and higher system sales in southeastern Michigan. Those sales, however, were substantially offset by decreased interconnection sales.
 On Feb. 24, the board of directors increased the quarterly dividend rate on the company's common stock from 47 cents per share to 49.5 cents per share. The indicated annual dividend rate is now $1.98 per share.
 Total system sales (excluding interconnection sales) for the three months ended March 31 were up 5 percent from the same period a year ago. Industrial sales were up 6.4 percent and commercial sales increased 1 percent, but residential sales declined 0.2 percent.
 The increase in industrial sales for the three-month period resulted primarily from higher sales to automotive, steel and other manufacturing customers.
 Total system sales (excluding interconnection sales) for the 12 months ended March 31 were up 3.2 percent from the same period a year ago. Industrial sales rose 0.6 percent, commercial sales were up 2.8 percent and residential sales were up 6 percent.
 The increases in residential and commercial sales for the 12-month period were due primarily to warmer weather during the second and third quarters of 1991, resulting in increased air-conditioning and cooling- related loads. In addition, cooler weather in the fourth quarter of 1991 resulted in increased heating-related loads.
 Interconnection sales, which represent sales between utilities to meet short- and longer-term energy needs as a result of demand and/or generating unit availability, were down 58.2 percent and 57.7 percent for the three- and 12-month periods, respectively.
 THE DETROIT EDISON COMPANY
 CONSOLIDATED INCOME DATA
 (Thousands of Dollars)
 Three Months Ended Percent
 March 31 Change
 1992 1991
 Operating revenues $895,827 $864,697 + 3.6
 Net income 156,105 133,093 +17.3
 Preferred and preference
 stock dividend requirements 7,752 8,344 - 7.1
 Earnings for common stock $148,353 $124,749 +18.9
 Weighted avg. no. of shares of
 common stock outstanding 146,986,619 146,925,170 ---
 Earnings per share $1.01 $0.85 +18.8
 12 Months Ended Percent
 March 31 Change
 1992 1991
 Operating revenues $3,622,666 $3,535,275 + 2.5
 Net income 591,049 511,005 +15.7
 Preferred and preference
 stock dividend requirements 32,240 34,600 - 6.8
 Earnings for common stock $558,809 $476,405 +17.3
 Weighted avg. no. of shares of
 common stock outstanding 146,961,153 146,904,011 ---
 Earnings per share $3.80 $3.24 +17.3
 -0- 4/27/92
 /CONTACT: Lorie N. Kessler, 313-237-8807, or Scott L. Simons, 313-237-8808, both of The Detroit Edison Company/
 (DTE) CO: The Detroit Edison Company ST: Michigan IN: UTI SU: ERN


JG -- DE008 -- 3038 04/27/92 10:43 EDT
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Date:Apr 27, 1992
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