Michigan Public Service Commission Case No.: U The Detroit Edison Company Exhibit: A-17 Current and Historical Credit Ratings Schedule: I1

Transcription

1 Current and Historical Credit Ratings Schedule: I1 Page: 1 of 1 Line 1 Standard & Poor's 2 Current Ratings at Year End 3 Ratings Detroit Edison 5 Senior Unsecured Debt BBB BBB BBB BBB- BBB- BBB- 6 Senior Secured Debt A- A- A- A- BBB+ BBB+ 7 Commercial Paper A-2 A-3 A-2 A-2 A-2 A-2 8 Outlook Positive Negative Stable Stable Stable Stable 9 10 DTE Energy 11 Senior Unsecured Debt BBB- BBB- BBB- BBB- BBB- BBB- 12 Commercial Paper A-2 A-3 A-2 A-2 A-2 A-2 13 Outlook Positive Negative Stable Stable Stable Stable Moody's Investors Service 18 Current Ratings at Year End 19 Ratings Detroit Edison 21 Senior Unsecured Debt Baa1 Baa1 Baa1 Baa1 Baa1 22 Senior Secured Debt A2 A2 A3 A3 A3 A3 23 Commercial Paper P-2 P-2 P-2 P-2 P-2 P-2 24 Outlook Stable Stable Stable Stable Stable Stable DTE Energy 27 Senior Unsecured Debt Baa2 Baa2 Baa2 Baa2 Baa2 Baa2 28 Commercial Paper P-2 P-2 P-2 P-2 P-2 P-2 29 Outlook Stable Stable Stable Stable Stable Stable Fitch Ratings 34 Current Ratings at Year End 35 Ratings Detroit Edison 37 Senior Secured Debt A- A- A- A- A- A- 38 Commercial Paper F2 F2 F2 F2 F2 F2 39 Outlook Stable Stable Stable Stable Positive Stable DTE Energy 42 Senior Unsecured Debt BBB BBB BBB BBB BBB BBB 43 Commercial Paper F2 F2 F2 F2 F2 F2 44 Outlook Stable Negative Negative Stable Stable Stable

2 Recent Utility Corporate Bond Issuances Schedule: I2 Page: 1 of 4 (a) (b) (c) (d) (e) (f) (g) (h) (i) Line Offer Amount Credit Ratings No. Date Issuer Type ($MM) Moody's S&P Coupon Structure Maturity Spread 1 07/07/08 Idaho Power Corp Sec 120 A3 A % 10 NC/L 07/15/ bp 2 07/14/08 PacifiCorp Sec 500 A3 A % 10 NC/L 07/15/ bp 3 07/14/08 PacifiCorp Sec 300 A3 A % 30 NC/L 07/15/ bp 4 07/14/08 Entergy Arkansas Inc. Sec 300 Baa1 A % 5 NC/L 08/01/ bp 5 07/25/08 Nevada Power Company Sec 500 Baa3 BBB 6.500% 10 NC/L 08/01/ bp 6 08/06/08 Public Service Company of Colorado Sec 300 A3 A % 10 NC/L 08/01/ bp 7 08/06/08 Public Service Company of Colorado Sec 300 A3 A % 30 NC/L 08/01/ bp 8 08/11/08 Entergy Louisiana, LLC Sec 300 Baa1 A % 10 NC/L 09/01/ bp 9 08/11/08 Southern California Edison Sec 400 A2 A 5.500% 10 NC/L 08/15/ bp 10 08/18/08 Duke Energy Indiana, Inc. Sec 500 A3 A 6.350% 30 NC/L 08/15/ bp 11 08/20/08 Orange and Rockland Utilities U 50 A2 A % 10 NC/L 09/01/ bp 12 08/27/08 Sierra Pacific Power Company Sec 250 Baa3 BBB 5.450% 5 NC/L 09/01/ bp 13 09/03/08 Oncor Electric Delivery Co. F 650 Baa3 BBB % 5 NC/L 09/01/ bp 14 09/03/08 Oncor Electric Delivery Co. F 550 Baa3 BBB % 10 NC/L 09/01/ bp 15 09/03/08 Oncor Electric Delivery Co. F 300 Baa3 BBB % 30 NC/L 09/01/ bp 16 09/03/08 Northern States Power Sec 200 A2 A 6.375% 30 NC/L 09/01/ bp 17 09/04/08 Ohio Power Company U 250 A3 BBB 5.750% 5 NC/L 09/01/ bp 18 09/04/08 Oklahoma Gas and Electric Co. U 250 A2 BBB % 10 NC/L 09/01/ bp 19 09/08/08 Consumers Energy Company Sec 350 Baa1 BBB 6.125% 10.5 NC/L 03/15/ bp 20 09/24/08 UGI Utilities, Inc. U 108 A3 A 6.375% 5 NC/L 09/30/ bp 21 09/25/08 Wisconsin Electric Power U 300 A1 A % 5.5 NC/L 04/01/ bp 22 09/25/08 PECO Energy Sec 300 A2 A 5.600% 5 NC/L 10/15/ bp 23 09/25/08 South Carolina E&G Sec 300 A2 A % 10 NC/L 11/01/ bp 24 10/01/08 Wisconsin Power & Light U 250 A2 A % 30 NC/L 10/01/ bp 25 10/01/08 Interstate Power & Light U 250 A3 BBB % 10 NC/L 10/01/ bp 26 10/07/08 The Detroit Edison Company Sec 250 A3 A % 5 NC/L 10/01/ bp 27 10/07/08 Southern California Edison Sec 500 A2 A 5.750% 5.5 NC/L 03/15/ bp 28 10/14/08 PPL Electric Utilities Sec 400 A3 A % 5 NC/L 11/30/ bp 29 10/15/08 Ohio Edison Company Sec 275 Baa1 BBB % 30 NC/L 11/01/ bp 30 10/16/08 Pacific Gas and Electric U 600 A3 BBB % 10 NC/L 10/15/ bp 31 10/20/08 Illinois Power Sec 400 Baa3 BBB 9.750% 10 NC/L 11/15/ bp 32 11/03/08 Virginia Electric and Power Company U 700 Baa1 A % 30 NC/L 11/15/ bp 33 11/06/08 Atlantic City Electric Sec 250 A3 A % 10 NC/L 11/15/ bp 34 11/12/08 Georgia Power U 400 A2 A 6.000% 5 NC/L 11/01/ bp 35 11/12/08 Duke Energry Carolinas Sec 400 A2 A 5.750% 5 NC/L 11/15/ bp 36 11/12/08 Duke Energry Carolinas Sec 500 A2 A 7.000% 10 NC/L 11/15/ bp 37 11/12/08 Georgia Power (retail) U 100 A2 A 8.200% 40 NC/5 11/01/ /13/08 Cleveland Electric Illuminating Sec 300 Baa2 BBB % 10 NC/L 11/15/ bp 39 11/13/08 Pacific Gas and Electric U 400 A3 BBB % 5 NC/L 12/01/ bp 40 11/13/08 Pacific Gas and Electric U 200 A3 BBB % 10 NC/L 10/15/ bp 41 11/13/08 Central Hudson Gas & Electric U 30 A2 A 6.854% 5 NC/L 11/01/ bp 42 11/14/08 Alabama Power Company U 250 A2 A 5.800% 5 NC/L 11/15/ bp 43 11/14/08 Mississippi Power Company U 50 A1 A 6.000% 5 NC/L 11/15/ bp 44 11/14/08 Southwestern Public Services U 300 Baa1 BBB % 10 NC/L 12/01/ bp 45 11/18/08 Delmarva Power & Light Sec 250 Baa1 A % 5 NC/L 12/01/ bp 46 11/18/08 Southern California Gas Co Sec 250 A1 A % 5 NC/L 03/15/ bp 47 11/18/08 Westar Energy Sec 300 Baa2 BBB 8.750% 10 NC/L 12/01/ bp 48 11/21/08 American Water Capital Corp U 75 Baa2 BBB % 30 NC/L 12/01/ /24/08 Public Service Electric and Gas Sec 275 A3 A % 5 NC/L 11/01/ bp 50 12/01/08 Wisconsin Public Service Corp. F 125 Aa3 A % 7 NC/L 12/01/ bp 51 12/02/08 Consolidated Edison of NY U 600 A1 A % 10 NC/L 12/01/ bp 52 12/03/08 Potomac Electric Power Company Sec 250 Baa1 BBB % 30 NC/L 12/15/ bp 53 12/04/08 Central Illinios Light Company Sec 150 Baa2 BBB % 5 NC/L 12/15/ bp 54 12/08/08 Wisconsin Electric Power U 250 A1 A % 7 NC/L 12/01/ bp 55 12/08/08 Oklahoma Gas and Electric Co. U 250 A2 BBB % 10 NC/L 01/15/ bp 56 12/10/08 Monongahela Power Co. Sec 300 Baa2 BBB % 5 NC/L 12/15/ bp 57 12/19/08 Southern Connecticut Gas Company Sec 50 A3 A 7.500% 10 NC/L 12/15/ bp 58 12/19/08 Rochester Gas and Electric Sec 150 A3 A 8.000% 25 NC/L 12/01/ bp 59 01/05/09 PacifiCorp Sec 350 A3 A % 10 NC/L 01/15/ bp 60 01/05/09 PacifiCorp Sec 650 A3 A % 30 NC/L 01/15/ bp

3 Recent Utility Corporate Bond Issuances Schedule: I2 Page: 2 of 4 (a) (b) (c) (d) (e) (f) (g) (h) (i) Line Offer Amount Credit Ratings No. Date Issuer Type ($MM) Moody's S&P Coupon Structure Maturity Spread 61 01/06/09 CenterPoint Energy Houston Electric LLC Sec 500 Baa2 BBB % 5 NC/L 03/01/ bp 62 01/07/09 Nevada Power Company Sec 125 Baa3 BBB 7.375% 5 NC/L 01/15/ bp 63 01/08/09 Progress Energy Carolina Sec 600 A2 A % 10 NC/L 01/15/ bp 64 01/12/09 Indiana Michigan Power U 475 Baa2 BBB 7.000% 10.3 NC/L 03/15/ bp 65 01/14/09 Metropolitan Edison Co. U 300 Baa2 BBB 7.700% 10 NC/L 01/15/ bp 66 01/20/09 Puget Sound Energy F 250 Baa2 A % 7 NC/L 01/15/ bp 67 01/22/09 Jersey Central Power & Light U 300 Baa2 BBB 7.350% 10 NC/L 02/01/ bp 68 01/23/09 The Israel Electric Corp. U 500 Baa2 BBB % 11 NC/L 01/28/ bp 69 01/27/09 Entergy Texas Inc. Sec 500 Baa3 BBB % 10 NC/L 02/01/ bp 70 02/04/09 Georgia Power Company U 500 A2 A 5.950% 30 NC/L 02/01/ bp 71 02/09/09 Connecticut Light & Power Company Sec 250 A3 BBB % 10 NC/L 02/01/ bp 72 02/10/09 NSTAR Electric Co. U 100 A1 A % 9 NC/L 11/15/ bp 73 02/23/09 Arizona Public Service U 500 Baa2 BBB % 10 NC/L 03/01/ bp 74 02/25/09 Nevada Power Company Sec 500 Baa3 BBB 7.125% 10 NC/L 03/15/ bp 75 02/26/09 Alabama Power Company U 500 A2 A 6.000% 30 NC/L 03/01/ bp 76 03/02/09 Consumers Energy Sec 500 Baa1 BBB 6.700% 10 NC/L 09/15/ bp 77 03/03/09 Pacific Gas & Electric Company U 550 A3 BBB % 30 NC/L 03/01/ bp 78 03/03/09 Mississippi Power Company U 125 A1 A 5.550% 10 NC/L 03/01/ bp 79 03/04/09 Appalachian Power Co. U 350 Baa2 BBB 7.950% 11 NC/L 01/15/ bp 80 03/10/09 South Carolina Electric and Gas Sec 175 A2 A % 29 NC/L 01/15/ bp 81 03/11/09 Florida Power & Light Sec 500 Aa3 A 5.960% 30 NC/L 04/01/ bp 82 03/13/09 Union Electric Co. Sec 350 Baa1 BBB 8.450% 30 NC/L 03/15/ bp 83 03/16/09 Texas-New Mexico Power Co. Sec 262 Baa2 BBB % 10 NC/L 04/01/ bp 84 03/17/09 Southern California Edison Sec 250 A2 A 4.150% 5.5 NC/L 09/15/ bp 85 03/17/09 Southern California Edison Sec 500 A2 A 6.050% 30 NC/L 03/15/ bp 86 03/18/09 Duke Energy Ohio Sec 450 A3 A 5.450% 10 NC/L 04/01/ bp 87 03/18/09 Duke Energy Indiana Sec 450 A3 A 6.450% 30 NC/L 04/01/ bp 88 03/19/09 Kansas City Power and Light Sec 400 A3 BBB % 10 NC/L 04/01/ bp 89 03/19/09 PECO Energy Company Sec 250 A2 A % 5.5 NC/L 10/01/ bp 90 03/23/09 Consolidated Edison of NY U 275 A1 A % 5 NC/L 04/01/ bp 91 03/23/09 Consolidated Edison of NY U 475 A1 A % 10 NC/L 04/01/ bp 92 03/23/09 Northwestern Energy Corporation Sec 250 Baa1 A % 10 NC/L 04/01/ bp 93 03/23/09 Atmos Energy Corp. U 450 Baa3 BBB % 10 NC/L 03/15/ bp 94 03/25/09 Idaho Power Company Sec 100 A3 A % 10 NC/L 04/01/ bp 95 04/13/09 Portland General Electric Sec 300 Baa1 A 6.100% 10 NC/L 04/15/ bp 96 04/23/09 The Toledo Edison Company Sec 300 Baa2 BBB % 11 NC/L 05/01/ bp 97 05/06/09 DTE Energy Corporation U 300 Baa2 BBB % 5 NC/L 05/15/ bp 98 05/11/09 San Diego Gas and Electic Sec 300 A1 A % 30 NC/L 06/01/ bp 99 05/14/09 Entergy Texas Inc. Sec 150 Baa3 BBB % 30 NC/5 06/01/ /18/09 Central Maine Power Sec 150 A3 A 5.700% 10 NC/L 06/01/ bp /19/09 PPL Electric Utilities Corp Sec 300 A3 A % 30 NC/L 05/15/ bp /08/09 Kansas Gas & Electric Company Sec 300 Baa2 BBB 6.700% 10 NC/L 06/15/ bp /09/09 Entergy Mississippi Inc. Sec 150 Baa A % 10 NC/L 07/01/ bp /23/09 Virginia Electric and Power Company U 350 Baa1 A % 10 NC/L 06/30/ bp /24/09 Rochester Gas and Electric Sec 150 Baa1 A % 10 NC/L 07/15/ bp /01/09 Tampa Electric (Reopening) U 100 Baa1 BBB 6.100% 9 NC/L 05/15/ bp /07/09 Wisconsin Power and Light Company U 250 A2 A % 10 NC/L 07/15/ bp /07/09 Interstate Power and Light Company U 300 A3 BBB % 30 NC/L 07/15/ bp /03/09 Niagara Mohawk Power Corp U 750 A3 A % 10 NC/L 08/15/ bp /13/09 Cleveland Electric Sec 300 Baa1 BBB % 15 NC/L 08/15/ bp /18/09 Sierra Pacific Power (reopening) Sec 150 Baa3 BBB 6.000% 7 NC/L 05/15/ bp /08/09 Puget Sound Energy F 350 Baa1 A % 30 NC/L 10/01/ bp /15/09 Avista Corporation SEC 250 Baa1 BBB % 12.5 NC/L 04/01/ bp /17/09 Duke Energy Kentucky U 100 Baa1 A % 10 NC/L 10/01/ bp /21/09 Niagara Mohawk Power Corp U 500 A3 A % 5 NC/L 10/01/ bp /21/09 Ohio Power Company U 500 Baa1 BBB 5.375% 12 NC/L 10/01/ bp /28/09 Pennsylvania Electric Company U 250 Baa2 BBB 5.200% 10.5 NC/L 04/01/ bp /28/09 Pennsylvania Electric Company U 250 Baa2 BBB 6.150% 29 NC/L 10/01/ bp /29/09 Entergy Gulf States Lousiana Sec 300 Baa1 BBB % 15 NC/L 10/01/ bp /22/09 Black Hills Power Sec 180 A3 BBB 6.125% 30 NC/L 11/01/ bp

4 Recent Utility Corporate Bond Issuances Schedule: I2 Page: 3 of 4 (a) (b) (c) (d) (e) (f) (g) (h) (i) Line Offer Amount Credit Ratings No. Date Issuer Type ($MM) Moody's S&P Coupon Structure Maturity Spread /26/09 Oglethorpe Power Corp. Sec 400 A3 A 5.950% 30 NC/L 11/01/ bp /09/09 Northern States Power Sec 300 A1 A 5.350% 30 NC/L 11/01/ bp /09/09 Public Service Co. of Oklahoma U 250 Baa1 BBB 5.150% 10 NC/L 12/01/ bp /09/09 Cleco Power (Reopening) U 145 Baa2 BBB 5.350% 26 NC/L 06/15/ bp /10/09 Entergy Louisiana LLC Sec 400 A3 A % 15 NC/L 11/01/ bp /10/09 Pacific Gas & Electric Company U 550 A3 BBB % 30.2 NC/L 01/15/ bp /10/09 Massachusetts Electric Co. U 800 A3 A % 30 NC/L 11/15/ bp /16/09 Duke Energy Carolinas, LLC Sec 750 A1 A 5.300% 30 NC/L 02/15/ bp /17/09 Idaho Power Company Sec 150 A3 A % 10.4 NC/L 03/01/ bp /18/09 Public Service Electric and Gas Co. Sec 250 A2 A % 30 NC/L 11/01/ bp /02/09 South Carolina G&E Sec 150 A3 A % 30 NC/5 12/15/ bp /02/09 Consolidated Edison of New York U 600 A3 A % 30 NC/L 12/01/ bp /08/09 Wisconsin Electric Power U 250 A1 A % 10 NC/L 12/15/ bp /08/09 Georgia Power Company U 500 A2 A 4.250% 10 NC/L 12/01/ bp /08/09 Orange and Rockland U 60 Baa1 A % 10 NC/L 12/01/ bp /08/09 Orange and Rockland U 60 Baa1 A % 30 NC/L 12/01/ bp /09/09 Public Service of New Hampshire Sec 150 A3 BBB % 10 NC/L 12/01/ bp /10/09 American Transmission Systems U 400 Baa1 BBB 5.250% 12 NC/L 01/15/ bp /14/09 Duke Energy Ohio Sec 250 A2 A 2.100% 3.5 NC/L 06/15/ bp /19/10 Trans-Allegheny Interstate Line Co U 450 Baa2 BBB % 5 NC/L 01/15/ bp /03/10 Florida Power & Light Sec 500 Aa2 A 5.690% 30 NC/L 03/01/ bp /03/10 Elm Road Generating Station Supercritical, L Sec 255 A1 A % 12.14YR AL 02/11/ bp /03/10 Elm Road Generating Station Supercritical, L Sec 275 A1 A % 25.73YR AL 02/11/ bp /02/10 Public Service Electric & Gas Company Sec 300 A2 A % 30 NC/L 03/01/ bp /03/10 Puget Sound Energy F 325 Baa1 A % 30 NC/L 03/15/ bp /03/10 Western Massachusetts Electric Co. U 95 Baa2 BBB 5.100% 10 NC/L 03/01/ bp /03/10 Southwestern Electric Power Company U 350 Baa3 BBB 6.200% 30 NC/L 03/15/ bp /08/10 Southern California Edison Sec 500 A1 A 5.500% 30 NC/L 03/15/ bp /11/10 NSTAR Electric Company U 300 A1 A % 30 NC/L 03/15/ bp /15/10 Entergy Louisiana Sec 150 A3 A % 30 NC/5 03/15/ /17/10 Narragansett Electric U 250 A3 A % 10 NC/L 03/15/ bp /17/10 Narragansett Electric U 300 A3 A % 30 NC/L 03/15/ bp /22/10 Progress Energy Florida, Inc. Sec 250 A1 A % 10 NC/L 04/01/ bp /22/10 Progress Energy Florida, Inc. Sec 350 A1 A % 30 NC/L 04/01/ bp /06/10 Gulf Power Company U 175 A2 A 4.750% 10 NC/L 04/15/ bp /07/10 Entergy Mississippi Sec 80 Baa1 A % 30 NC/5 04/15/ /10/10 San Diego Gas and Electric Sec 250 Aa3 A % 30 NC/L 05/15/ bp /17/10 Public Service Electric & Gas Company Sec 300 A2 A % 5 NC/L 05/01/ bp /18/10 Entergy Texas Inc. Sec 200 Baa2 BBB % 5 NC/L 06/01/ bp /19/10 Appalachian Power U 300 Baa2 BBB 3.400% 5 NC/L 05/24/ bp /24/10 Empire District Electric Sec 100 A3 BBB % 10 NC/L 05/28/ bp /24/10 Georgia Power Company U 600 A2 A 5.400% 30 NC/L 06/01/ bp /02/10 Duke Energy Carolinas, LLC Sec 450 A1 A 4.300% 10 NC/L 06/15/ bp /02/10 Consolidated Edison of NY U 350 A3 A % 10 NC/L 06/15/ bp /02/10 Consolidated Edison of NY U 350 A3 A % 30 NC/L 06/15/ bp /03/10 Oklahoma Gas & Electric Co. U 250 A2 BBB % 30 NC/L 06/01/ bp /10/10 Wisconsin Power & Light U 150 A2 A % 10 NC/L 06/15/ bp /10/10 Interstate Power and Light U 150 A3 BBB % 5 NC/L 06/15/ bp /24/10 Puget Sound Energy Sec 250 Baa1 A % 30 NC/L 07/15/ bp /06/10 Duke Energy Indiana Sec 500 A2 A 3.750% 10 NC/L 07/15/ bp /13/10 Black Hills Corp. U 200 Baa3 BBB % 10 NC/L 07/15/ bp /26/10 Commonwealth Edison Sec 500 Baa1 A % 10 NC/L 08/01/ bp /03/10 Public Service Electric & Gas Company Sec 250 A2 A % 10 NC/L 08/15/ bp /04/10 Northern States Power - Minnesota Sec 250 A1 A 4.850% 30 NC /15/ bp /04/10 Northern States Power - Minnesota Sec 250 A1 A 1.950% 5 NC/L 08/15/ bp /09/10 Orange and Rockland U 115 Baa1 A % 30 NC/L 08/15/ bp /09/10 Orange and Rockland U 55 Baa1 A % 5 NC/L 08/15/ bp /10/10 Great Plains Energy U 250 Baa3 BBB % 3 NC/L 08/15/ bp /12/10 Detroit Edison Company Sec 300 A2 A % 10 NC /01/ bp /18/10 Empire District Electric Sec 50 A3 BBB % 30 NC/L 09/01/ bp

5 Recent Utility Corporate Bond Issuances Schedule: I2 Page: 4 of 4 (a) (b) (c) (d) (e) (f) (g) (h) (i) Line Offer Amount Credit Ratings No. Date Issuer Type ($MM) Moody's S&P Coupon Structure Maturity Spread /23/10 San Diego Gas and Electric Sec 500 Aa3 A % 30 NC/L 08/15/ bp /23/10 Interstate Power & Light U 200 A3 BBB % 10 NC /01/ bp /25/10 Virginia Electric and Power Co. U 300 Baa1 A % 12 NC/L 09/01/ bp /25/10 Southern California Edison Sec 500 A1 A 4.500% 30 NC/L 09/01/ bp /25/10 Idaho Power Company Sec 100 A2 A % 10 NC/L 11/01/ bp /25/10 Idaho Power Company Sec 100 A2 A % 30 NC/L 08/15/ bp /26/10 Georgia Power Company U 500 A3 A 4.750% 30 NC/L 09/01/ bp /08/10 Pacific Gas & Electric U 550 A3 BBB % 10 NC /01/ bp /08/10 Oncor Electric Delivery Sec 475 Baa1 A % 30 NC/L 09/30/ bp /09/10 Nevada Power Sec 250 Baa3 BBB 5.375% 30 NC /15/ bp /09/10 Gulf Power Company U 125 A3 A 5.100% 30 NC/L 10/01/ bp /20/10 Georgia Power Company U 500 A3 A 1.300% 3 NC/L 09/15/ bp /21/10 Entergy Louisiana LLC Sec 250 A3 A % 15 NC/L 01/15/ bp /27/10 Entergy Gulf States Louisiana Sec 250 A3 BBB % 10 NC/L 10/01/ bp /27/10 Alabama Power U 250 A2 A 3.375% 10 NC/L 10/01/ bp Legend: U = Unsecured Sec = Secured F = Secured by Fallway Bonds Source: Citibank

6 Historical Financial Metrics Schedule: I3 Page: 1 of 1 (a) (b) (c) (d) (e) (f) Line No. Metric A) EBIT Interest Coverage B) EBITDA Interest Coverage C) FFO Interest Coverage D) Overall Fixed Charge Coverage E) Cash Flow Coverage of Dividend F) Common Dividend Payout Ratio 111% 95% 96% 92% 81% 7 G) Permanent Capitalization ($MM) 6,256 6,711 6,873 7,700 7,998 8 G) Permanent Capitalization (% Debt) 53% 54% 52% 54% 52% 9 H) Return on Common Equity (ROE) 9% 11% 10% 10% 10% 10 H) Authorized ROE 11% 11% 11% 11% 11% A) Methodology consistent with Standard & Poor's B) Methodology consistent with Standard & Poor's C) Methodology consistent with Standard & Poor's D) Numerator: Net Income plus Gross Interest Denominator: Gross Interest plus Preferred Dividends E) Numerator: Net Income for Common plus depreciation plus amortization plus deferred taxes plus deferred investment tax credits Denominator: Common Dividends F) Numerator: Common Dividends Denominator: Net Income for Common G) Numerator: Long-Term Debt Denominator: Permanent Capital (Long-Term Debt + Equity) H) Numerator: Net Income Denominator: Avg Equity

7 Historical Ratemaking Metrics Schedule: I4 Page: 1 of 1 (a) (b) (c) (d) (e) (f) Line No. Metric A) EBIT Interest Coverage B) EBITDA Interest Coverage C) FFO Interest Coverage D) Overall Fixed Charge Coverage E) Cash Flow Coverage of Dividend F) Common Dividend Payout Ratio 109% 96% 103% 96% 82% 7 G) Permanent Capitalization ($MM) 6,235 6,696 6,843 7,673 7,970 8 G) Permanent Capitalization (% Debt) 52% 53% 51% 54% 51% 9 H) Return on Common Equity (ROE) 9% 10% 9% 9% 10% 10 H) Authorized ROE 11% 11% 11% 11% 11% A) Methodology consistent with Standard & Poor's B) Methodology consistent with Standard & Poor's C) Methodology consistent with Standard & Poor's D) Numerator: Net Income plus Gross Interest Denominator: Gross Interest plus Preferred Dividends E) Numerator: Net Income for Common plus depreciation plus amortization plus deferred taxes plus deferred investment tax credits Denominator: Common Dividends F) Numerator: Common Dividends Denominator: Net Income for Common G) Numerator: Long-Term Debt Denominator: Permanent Capital (Long-Term Debt + Equity) H) Numerator: Net Income Denominator: Avg Equity

8 Forecasted Metrics Schedule: I5 Page: 1 of 1 (a) (b) (c) With Without Line Rate Rate No. Metric Relief Relief 1 A) EBIT Interest Coverage B) EBITDA Interest Coverage C) FFO Interest Coverage D) Overall Fixed Charge Coverage E) Cash Flow Coverage of Dividend F) Common Dividend Payout Ratio 66% 164% 7 G) Permanent Capitalization ($MM) 8,485 8,487 8 G) Permanent Capitalization (% Debt) 51.1% 51.0% 9 H) Return on Common Equity (ROE) 11.4% 4.6% 10 I) Authorized ROE 11.0% 11.0% A) Methodology consistent with Standard & Poor's B) Methodology consistent with Standard & Poor's C) Methodology consistent with Standard & Poor's D) Numerator: Net Income plus Gross Interest Denominator: Gross Interest plus Preferred Dividends E) Numerator: Net Income for Common plus depreciation plus amortization plus deferred taxes plus deferred investment tax credits Denominator: Common Dividends F) Numerator: Common Dividends Denominator: Net Income for Common G) Numerator: Long-Term Debt Denominator: Permanent Capital (Long-Term Debt + Equity) H) Numerator: Net Income Denominator: Avg Equity I) Per case No. U-15768