<PAGE>
                                                                   EXHIBIT 4-248


                                    INDENTURE

                         DATED AS OF SEPTEMBER 30, 2005

                                 ---------------

                           THE DETROIT EDISON COMPANY
                   (2000 2nd Avenue, Detroit, Michigan 48226)

                                       TO

                 J.P. MORGAN TRUST COMPANY, NATIONAL ASSOCIATION
                  (Successor to Bank One, National Association)
                 (611 Woodward Avenue, Detroit, Michigan 48226)

                                   AS TRUSTEE

                                 ---------------

                   SUPPLEMENTAL TO MORTGAGE AND DEED OF TRUST
                           DATED AS OF OCTOBER 1, 1924

                                  PROVIDING FOR

                    (A) GENERAL AND REFUNDING MORTGAGE BONDS,
                                  2005 SERIES E

                                       AND

                          (B) RECORDING AND FILING DATA



                                       1
<PAGE>



                               TABLE OF CONTENTS*

<Table>
<Caption>
                                                                                                 PAGE
                                                                                                 ----
<S>                                                                                              <C>
 PARTIES........................................................................................... 3
 RECITALS.......................................................................................... 3
       Original Indenture and Supplementals........................................................ 3
       Issue of Bonds Under Indenture.............................................................. 3
       Bonds Heretofore Issued..................................................................... 4
       Reason for Creation of New Series...........................................................10
       Bonds to be 2005 Series E...................................................................10
       Further Assurance...........................................................................10
       Authorization of Supplemental Indenture.....................................................10
       Consideration for Supplemental Indenture....................................................11
 PART I.  CREATION OF THREE HUNDRED FORTY-FIFTH SERIES OF BONDS, GENERAL AND
          REFUNDING MORTGAGE BONDS, 2005 SERIES E..................................................11
       Sec. 1. Terms of Bonds of 2005 Series E.....................................................11
       Sec. 2. Release.............................................................................13
       Sec. 3. Redemption of Bonds of 2005 Series E................................................13
       Sec. 4. Redemption of Bonds of 2005 Series E in Event of Acceleration of Notes..............14
       Sec. 5. Form of Bonds of 2005 Series E......................................................14
               Form of Trustee's Certificate.......................................................16
               Form of Reverse of Bond.............................................................16
 PART II. RECORDING AND FILING DATA................................................................18
       Recording and Filing of Original Indenture..................................................18
       Recording and Filing of Supplemental Indentures.............................................19
       Recording and Filing of Supplemental Indenture Dated as of February 1, 2005.................23
       Recording of Certificates of Provision for Payment..........................................23
 PART III. THE TRUSTEE.............................................................................24
       Terms and Conditions of Acceptance of Trust by Trustee......................................24
 PART IV. MISCELLANEOUS............................................................................24
       Confirmation of Section 318(c) of Trust Indenture Act.......................................24
       Execution in Counterparts...................................................................24
       Testimonium.................................................................................24
       Execution by Company........................................................................26
       Acknowledgment of Execution by Company......................................................27
       Execution by Trustee........................................................................28
       Acknowledgment of Execution by Trustee......................................................29
       Affidavit as to Consideration and Good Faith................................................30
</Table>

----------
* This Table of Contents shall not have any bearing upon the interpretation of
any of the terms or provisions of this Indenture.



                                       2
<PAGE>



PARTIES.          SUPPLEMENTAL INDENTURE, dated as of the 30th day of September,
                  in the year 2005, between THE DETROIT EDISON COMPANY, a
                  corporation organized and existing under the laws of the State
                  of Michigan and a public utility (hereinafter called the
                  "Company"), party of the first part, and J.P. Morgan Trust
                  Company, National Association (successor to Bank One, National
                  Association), a trust company organized and existing under the
                  laws of the United States, having a corporate trust office at
                  611 Woodward Avenue, Detroit, Michigan 48226, as successor
                  Trustee under the Mortgage and Deed of Trust hereinafter
                  mentioned (hereinafter called the "Trustee"), party of the
                  second part.

ORIGINAL          WHEREAS, the Company has heretofore executed and delivered its
INDENTURE AND     Mortgage and Deed of Trust (hereinafter referred to as the
SUPPLEMENTALS     "Original Indenture"), dated as of October 1, 1924, to the
                  Trustee, for the security of all bonds of the Company
                  outstanding thereunder, and pursuant to the terms and
                  provisions of the Original Indenture, indentures dated as of,
                  respectively, June 1, 1925, August 1, 1927, February 1, 1931,
                  June 1, 1931, October 1, 1932, September 25, 1935, September
                  1, 1936, November 1, 1936, February 1, 1940, December 1, 1940,
                  September 1, 1947, March 1, 1950, November 15, 1951, January
                  15, 1953, May 1, 1953, March 15, 1954, May 15, 1955, August
                  15, 1957, June 1, 1959, December 1, 1966, October 1, 1968,
                  December 1, 1969, July 1, 1970, December 15, 1970, June 15,
                  1971, November 15, 1971, January 15, 1973, May 1, 1974,
                  October 1, 1974, January 15, 1975, November 1, 1975, December
                  15, 1975, February 1, 1976, June 15, 1976, July 15, 1976,
                  February 15, 1977, March 1, 1977, June 15, 1977, July 1, 1977,
                  October 1, 1977, June 1, 1978, October 15, 1978, March 15,
                  1979, July 1, 1979, September 1, 1979, September 15, 1979,
                  January 1, 1980, April 1, 1980, August 15, 1980, August 1,
                  1981, November 1, 1981, June 30, 1982, August 15, 1982, June
                  1, 1983, October 1, 1984, May 1, 1985, May 15, 1985, October
                  15, 1985, April 1, 1986, August 15, 1986, November 30, 1986,
                  January 31, 1987, April 1, 1987, August 15, 1987, November 30,
                  1987, June 15, 1989, July 15, 1989, December 1, 1989, February
                  15, 1990, November 1, 1990, April 1, 1991, May 1, 1991, May
                  15, 1991, September 1, 1991, November 1, 1991, January 15,
                  1992, February 29, 1992, April 15, 1992, July 15, 1992, July
                  31, 1992, November 30, 1992, December 15, 1992, January 1,
                  1993, March 1, 1993, March 15, 1993, April 1, 1993, April 26,
                  1993, May 31, 1993, June 30, 1993, June 30, 1993, September
                  15, 1993, March 1, 1994, June 15, 1994, August 15, 1994,
                  December 1, 1994, August 1, 1995, August 1, 1999, August 15,
                  1999 and January 1, 2000, April 15, 2000, August 1, 2000,
                  March 15, 2001, May 1, 2001, August 15, 2001, September 15,
                  2001, September 17, 2002, October 15, 2002, December 1, 2002,
                  August 1, 2003, March 15, 2004, July 1, 2004, February 1,
                  2005, April 1, 2005, August 1, 2005, and September 15, 2005
                  supplemental to the Original Indenture, have heretofore been
                  entered into between the Company and the Trustee (the Original
                  Indenture and all indentures supplemental thereto together
                  being hereinafter sometimes referred to as the "Indenture");
                  and


ISSUE OF BONDS    WHEREAS, the Indenture provides that said bonds shall be
UNDER             issuable in one or more series, and makes provision that the
INDENTURE.        rates of interest and dates for the payment thereof, the date
                  of maturity or dates of maturity, if of serial maturity, the
                  terms and rates of optional redemption (if redeemable), the
                  forms of registered bonds without coupons of any series and
                  any other provisions and agreements in respect thereof, in the
                  Indenture provided and permitted, as the



                                       3
<PAGE>



                  Board of Directors may determine, may be expressed in a
                  supplemental indenture to be made by the Company to the
                  Trustee thereunder; and


BONDS             WHEREAS, bonds in the principal amount of Eleven billion eight
HERETOFORE        hundred forty-two million five hundred seventy-three thousand
ISSUED.           dollars ($11,842,573,000) have heretofore been issued under
                  the Indenture as follows, viz:

<Table>
<S>               <C>                                 <C>
      (1)         Bonds of Series A                   -- Principal Amount $26,016,000,

      (2)         Bonds of Series B                   -- Principal Amount $23,000,000,

      (3)         Bonds of Series C                   -- Principal Amount $20,000,000,

      (4)         Bonds of Series D                   -- Principal Amount $50,000,000,

      (5)         Bonds of Series E                   -- Principal Amount $15,000,000,

      (6)         Bonds of Series F                   -- Principal Amount $49,000,000,

      (7)         Bonds of Series G                   -- Principal Amount $35,000,000,

      (8)         Bonds of Series H                   -- Principal Amount $50,000,000,

      (9)         Bonds of Series I                   -- Principal Amount $60,000,000,

      (10)        Bonds of Series J                   -- Principal Amount $35,000,000,

      (11)        Bonds of Series K                   -- Principal Amount $40,000,000,

      (12)        Bonds of Series L                   -- Principal Amount $24,000,000,

      (13)        Bonds of Series M                   -- Principal Amount $40,000,000,

      (14)        Bonds of Series N                   -- Principal Amount $40,000,000,

      (15)        Bonds of Series O                   -- Principal Amount $60,000,000,

      (16)        Bonds of Series P                   -- Principal Amount $70,000,000,

      (17)        Bonds of Series Q                   -- Principal Amount $40,000,000,

      (18)        Bonds of Series W                   -- Principal Amount $50,000,000,

      (19)        Bonds of Series AA                  -- Principal Amount $100,000,000,

      (20)        Bonds of Series BB                  -- Principal Amount $50,000,000,

      (21)        Bonds of Series CC                  -- Principal Amount $50,000,000,

      (22)        Bonds of Series UU                  -- Principal Amount $100,000,000,

      (23-31)     Bonds of Series DDP Nos. 1-9        -- Principal Amount $14,305,000,
</Table>



                                       4
<PAGE>



<Table>
<S>               <C>                                 <C>
      (32-45)     Bonds of Series FFR Nos. 1-14       -- Principal Amount $45,600,000,

      (46-67)     Bonds of Series GGP Nos. 1-22       -- Principal Amount $42,300,000,

      (68)        Bonds of Series HH                  -- Principal Amount $50,000,000,

      (69-90)     Bonds of Series IIP Nos. 1-22       -- Principal Amount $3,750,000,

      (91-98)     Bonds of Series JJP Nos. 1-8        -- Principal Amount $6,850,000,

      (99-107)    Bonds of Series KKP Nos. 1-9        -- Principal Amount $34,890,000,

      (108-122)   Bonds of Series LLP Nos. 1-15       -- Principal Amount $8,850,000,

      (123-143)   Bonds of Series NNP Nos. 1-21       -- Principal Amount $47,950,000,

      (144-161)   Bonds of Series OOP Nos. 1-18       -- Principal Amount $18,880,000,

      (162-180)   Bonds of Series QQP Nos. 1-19       -- Principal Amount $13,650,000,

      (181-195)   Bonds of Series TTP Nos. 1-15       -- Principal Amount $3,800,000,

      (196)       Bonds of 1980 Series A              -- Principal Amount $50,000,000,

      (197-221)   Bonds of 1980 Series CP Nos. 1-25   -- Principal Amount $35,000,000,

      (222-232)   Bonds of 1980 Series DP Nos. 1-11   -- Principal Amount $10,750,000,

      (233-248)   Bonds of 1981 Series AP Nos. 1-16   -- Principal Amount $124,000,000,

      (249)       Bonds of 1985 Series A              -- Principal Amount $35,000,000,

      (250)       Bonds of 1985 Series B              -- Principal Amount $50,000,000,

      (251)       Bonds of Series PP                  -- Principal Amount $70,000,000,

      (252)       Bonds of Series RR                  -- Principal Amount $70,000,000,

      (253)       Bonds of Series EE                  -- Principal Amount $50,000,000,

      (254-255)   Bonds of Series MMP and MMP No. 2   -- Principal Amount $5,430,000,

      (256)       Bonds of Series T                   -- Principal Amount $75,000,000,

      (257)       Bonds of Series U                   -- Principal Amount $75,000,000,

      (258)       Bonds of 1986 Series B              -- Principal Amount $100,000,000,
</Table>



                                       5
<PAGE>



<Table>
<S>               <C>                                 <C>
      (259)       Bonds of 1987 Series D              -- Principal Amount $250,000,000,

      (260)       Bonds of 1987 Series E              -- Principal Amount $150,000,000,

      (261)       Bonds of 1987 Series C              -- Principal Amount $225,000,000,

      (262)       Bonds of Series V                   -- Principal Amount $100,000,000,

      (263)       Bonds of Series SS                  -- Principal Amount $150,000,000,

      (264)       Bonds of 1980 Series B              -- Principal Amount $100,000,000,

      (265)       Bonds of 1986 Series C              -- Principal Amount $200,000,000,

      (266)       Bonds of 1986 Series A              -- Principal Amount $200,000,000,

      (267)       Bonds of 1987 Series B              -- Principal Amount $175,000,000,

      (268)       Bonds of Series X                   -- Principal Amount $100,000,000,

      (269)       Bonds of 1987 Series F              -- Principal Amount $200,000,000,

      (270)       Bonds of 1987 Series A              -- Principal Amount $300,000,000,

      (271)       Bonds of Series Y                   -- Principal Amount $60,000,000,

      (272)       Bonds of Series Z                   -- Principal Amount $100,000,000,

      (273)       Bonds of 1989 Series A              -- Principal Amount $300,000,000,

      (274)       Bonds of 1984 Series AP             -- Principal Amount $2,400,000,

      (275)       Bonds of 1984 Series BP             -- Principal Amount $7,750,000,

      (276)       Bonds of Series R                   -- Principal Amount $100,000,000,

      (277)       Bonds of Series S                   -- Principal Amount $150,000,000,

      (278)       Bonds of 1993 Series D              -- Principal Amount $100,000,000,

      (279)       Bonds of 1992 Series E              -- Principal Amount $50,000,000,

      (280)       Bonds of 1993 Series B              -- Principal Amount $50,000,000,

      (281)       Bonds of 1989 Series BP             -- Principal Amount $66,565,000,

      (282)       Bonds of 1990 Series A              -- Principal Amount $194,649,000,

      (283)       Bonds of 1990 Series D              -- Principal Amount $0,

      (284)       Bonds of 1993 Series G              -- Principal Amount $225,000,000,

      (285)       Bonds of 1993 Series K              -- Principal Amount $160,000,000,
</Table>



                                       6
<PAGE>



<Table>
<S>               <C>                                 <C>
      (286)       Bonds of 1991 Series EP             -- Principal Amount $41,480,000,

      (287)       Bonds of 1993 Series H              -- Principal Amount $50,000,000,

      (288)       Bonds of 1999 Series D              -- Principal Amount $40,000,000,

      (289)       Bonds of 1991 Series FP             -- Principal Amount $98,375,000,

      (290)       Bonds of 1992 Series BP             -- Principal Amount $20,975,000,

      (291)       Bonds of 1992 Series D              -- Principal Amount $300,000,000,

      (292)       Bonds of 1992 Series CP             -- Principal Amount $35,000,000,

      (293)       Bonds of 1993 Series C              -- Principal Amount $225,000,000,

      (294)       Bonds of 1993 Series E              -- Principal Amount $400,000,000,

      (295)       Bonds of 1993 Series J              -- Principal Amount $300,000,000,

      (296-301)   Bonds of Series KP Nos. 10-15       -- Principal Amount $179,590,000,

      (302)       Bonds of 1989 Series BP No. 2       -- Principal Amount $36,000,000,

      (303)       Bonds of 1993 Series FP             -- Principal Amount $5,685,000,

      (304)       Bonds of 1993 Series IP             -- Principal Amount $5,825,000,

      (305)       Bonds of 1994 Series AP             -- Principal Amount $7,535,000,

      (306)       Bonds of 1994 Series BP             -- Principal Amount $12,935,000,

      (307)       Bonds of 1994 Series DP             -- Principal Amount $23,700,000,

      (308)       Bonds of 1994 Series C              -- Principal Amount $200,000,000,

      (309)       Bonds of 2000 Series A              -- Principal Amount $220,000,000,

      (310)       Bonds of 2005 Series A              -- Principal Amount $200,000,000,

      (311)       Bonds of 1995 Series AP             -- Principal Amount $97,000,000,

      (312)       Bonds of 1995 Series BP             -- Principal Amount $22,175,000;
</Table>


                  all of which have either been retired and cancelled, or no
                  longer represent obligations of the Company, having matured or
                  having been called for redemption and funds necessary to
                  effect the payment, redemption and retirement thereof having
                  been deposited with the Trustee as a special trust fund to be
                  applied for such purpose;



                                       7
<PAGE>



      (313)       Bonds of 1990 Series B in the principal amount of Two hundred
                  fifty-six million nine hundred thirty-two thousand dollars
                  ($256,932,000) of which One hundred fifty-two million two
                  hundred fifty-six thousand dollars ($152,256,000) principal
                  amount have here heretofore been retired;

      (314)       Bonds of 1990 Series C in the principal amount of Eighty-five
                  million four hundred seventy-five thousand dollars
                  ($85,475,000) of which Fifty-four million seven hundred and
                  four thousand dollars ($54,704,000) principal amount have
                  heretofore been retired;

      (315)       INTENTIONALLY RESERVED FOR 1990 SERIES E;

      (316)       INTENTIONALLY RESERVED FOR 1990 SERIES F;

      (317)       Bonds of 1991 Series AP in the principal amount of Thirty-two
                  million three hundred seventy-five thousand dollars
                  ($32,375,000), all of which are outstanding at the date
                  hereof;

      (318)       Bonds of 1991 Series BP in the principal amount of Twenty-five
                  million nine hundred ten thousand dollars ($25,910,000), all
                  of which are outstanding at the date hereof;

      (319)       Bonds of 1991 Series CP in the principal amount of Thirty-two
                  million eight hundred thousand dollars ($32,800,000), all of
                  which are outstanding at the date hereof;

      (320)       Bonds of 1991 Series DP in the principal amount of
                  Thirty-seven million six hundred thousand dollars
                  ($37,600,000), all of which are outstanding at the date
                  hereof;

      (321)       Bonds of 1992 Series AP in the principal amount of Sixty-six
                  million dollars ($66,000,000), all of which are outstanding at
                  the date hereof;

      (322)       Bonds of 1993 Series AP in the principal amount of Sixty-five
                  million dollars ($65,000,000), all of which are outstanding at
                  the date hereof;

      (323)       Bonds of 1999 Series AP in the principal amount of One hundred
                  eighteen million three hundred sixty thousand dollars
                  ($118,360,000), all of which are outstanding at the date
                  hereof;

      (324)       Bonds of 1999 Series BP in the principal amount of Thirty-nine
                  million seven hundred forty-five thousand dollars
                  ($39,745,000), all of which are outstanding of the date
                  hereof;

      (325)       Bonds of 1999 Series CP in the principal amount of Sixty-six
                  million five hundred sixty-five thousand dollars
                  ($66,565,000), all of which are outstanding at the date
                  hereof;

      (326)       Bonds of 2000 Series B in the principal amount of Fifty
                  million seven hundred forty-five thousand dollars
                  ($50,745,000), all of which are outstanding at the date
                  hereof;




                                       8
<PAGE>



      (327)       Bonds of 2001 Series AP in the principal amount of Thirty-one
                  million ($31,000,000), all of which are outstanding at the
                  date hereof;

      (328)       Bonds of 2001 Series BP in the principal amount of Eighty-two
                  million three hundred fifty thousand ($82,350,000), all of
                  which are outstanding at the date hereof;

      (329)       Bonds of 2001 Series CP in the principal amount of One hundred
                  thirty-nine million eight hundred fifty-five thousand dollars
                  ($139,855,000), all of which are outstanding at the date
                  hereof;

      (330)       Bonds of 2001 Series D in the principal amount of Two hundred
                  million dollars ($200,000,000), all of which are outstanding
                  at the date hereof;

      (331)       Bonds of 2001 Series E in the principal amount of Five hundred
                  million dollars ($500,000,000), all of which are outstanding
                  at the date hereof;

      (332)       Bonds of 2002 Series A in the principal amount of Two hundred
                  twenty-five million dollars ($225,000,000), all of which are
                  outstanding at the date hereof;

      (333)       Bonds of 2002 Series B in the principal amount of Two hundred
                  twenty-five million dollars ($225,000,000), all of which are
                  outstanding at the date hereof;

      (334)       Bonds of 2002 Series C in the principal amount of Sixty-four
                  million three hundred thousand dollars ($64,300,000), all of
                  which are outstanding at the date hereof;

      (335)       Bonds of 2002 Series D in the principal amount of Fifty-five
                  million nine hundred seventy-five thousand dollars
                  ($55,975,000), all of which are outstanding at the date
                  hereof;

      (336)       Bonds of 2003 Series A in the principal amount of Forty-nine
                  million dollars ($49,000,000), all of which are outstanding at
                  the date hereof;

      (337)       Bonds of 2004 Series A in the principal amount of Thirty-six
                  million dollars ($36,000,000), all of which are outstanding at
                  the date hereof;

      (338)       Bonds of 2004 Series B in the principal amount of Thirty-one
                  million nine hundred eighty thousand dollars ($31,980,000),
                  all of which are outstanding at the date hereof;

      (339)       Bonds of 2004 Series D in the principal amount of Two hundred
                  million dollars ($200,000,000), all of which are outstanding
                  at the date hereof;

      (340)       Bonds of 2005 Series B in the principal amount of Two hundred
                  million dollars ($200,000,000), of which One hundred
                  ninety-nine million seven hundred seventy-one thousand dollars
                  ($199,771,000) principal amount have heretofore been retired
                  and Two hundred twenty-nine thousand dollars ($229,000)
                  principal amount are outstanding at the date hereof;

      (341)       Bonds of 2005 Series AR in the principal amount of Two hundred
                  million dollars ($200,000,000), all of which are outstanding
                  at the date hereof;



                                       9
<PAGE>



      (342)       Bonds of 2005 Series BR in the principal amount of One hundred
                  ninety-nine million seven hundred seventy-one thousand dollars
                  ($199,771,000), all of which are outstanding at the date
                  hereof;

      (343)       Bonds of 2005 Series DT in the principal amount of One hundred
                  nineteen million one hundred seventy-five thousand dollars
                  ($119,175,000), all of which are outstanding at the date
                  hereof; and

      (344)       Bonds of the 2005 Series C in the principal amount of One
                  hundred million dollars ($100,000,000), all of which are
                  outstanding at the date hereof;

                  accordingly, the Company has issued and has presently
                  outstanding Three billion one hundred thirty million, one
                  hundred eighty-two thousand dollars ($3,130,182,000) aggregate
                  principal amount of its General and Refunding Mortgage Bonds
                  (the "Bonds") at the date hereof.

REASON FOR        WHEREAS, the Company intends to issue a series of Notes under
CREATION OF       the Note Indenture herein referred to, and, pursuant to the
NEW SERIES.       Note Indenture, the Company has agreed to issue its General
                  and Refunding Mortgage Bonds under the Indenture in order
                  further to secure its obligations with respect to such Notes;
                  and

BONDS TO BE       WHEREAS, for such purpose the Company desires by this
2005 SERIES E.    Supplemental Indenture to create a new series of bonds, to be
                  designated "General and Refunding Mortgage Bonds, 2005 Series
                  E," in the aggregate principal amount of Two hundred fifty
                  million dollars ($250,000,000), to be authenticated and
                  delivered pursuant to Section 8 of Article III of the
                  Indenture; and

FURTHER           WHEREAS, the Original Indenture, by its terms, includes in the
ASSURANCE.        property subject to the lien thereof all of the estates and
                  properties, real, personal and mixed, rights, privileges and
                  franchises of every nature and kind and wheresoever situate,
                  then or thereafter owned or possessed by or belonging to the
                  Company or to which it was then or at any time thereafter
                  might be entitled in law or in equity (saving and excepting,
                  however, the property therein specifically excepted or
                  released from the lien thereof), and the Company therein
                  covenanted that it would, upon reasonable request, execute and
                  deliver such further instruments as may be necessary or proper
                  for the better assuring and confirming unto the Trustee all or
                  any part of the trust estate, whether then or thereafter owned
                  or acquired by the Company (saving and excepting, however,
                  property specifically excepted or released from the lien
                  thereof); and

AUTHORIZATION     WHEREAS, the Company in the exercise of the powers and
OF                authority conferred upon and reserved to it under and by
SUPPLEMENTAL      virtue of the provisions of the Indenture, and pursuant to
INDENTURE.        resolutions of its Board of Directors has duly resolved and
                  determined to make, execute and deliver to the Trustee a
                  supplemental indenture in the form hereof for the purposes
                  herein provided; and

                  WHEREAS, all conditions and requirements necessary to make
                  this Supplemental Indenture a valid and legally binding
                  instrument in accordance with its terms have been done,
                  performed and fulfilled, and the execution and delivery hereof
                  have been in all respects duly authorized;



                                       10
<PAGE>



CONSIDERATION     NOW, THEREFORE, THIS INDENTURE WITNESSETH: That The Detroit
FOR               Edison Company, in consideration of the premises and of the
SUPPLEMENTAL      covenants contained in the Indenture and of the sum of One
INDENTURE.        Dollar ($1.00) and other good and valuable consideration to it
                  duly paid by the Trustee at or before the ensealing and
                  delivery of these presents, the receipt whereof is hereby
                  acknowledged, hereby covenants and agrees to and with the
                  Trustee and its successors in the trusts under the Original
                  Indenture and in said indentures supplemental thereto as
                  follows:

                                     PART I.

                      CREATION OF THREE HUNDRED FORTY-FIFTH
                                SERIES OF BONDS,
                      GENERAL AND REFUNDING MORTGAGE BONDS,
                                  2005 SERIES E

TERMS OF          SECTION 1. The Company hereby creates the three hundred
BONDS OF          forty-fifth series of bonds to be issued under and secured by
2005 SERIES E.    the Original Indenture as amended to date and as further
                  amended by this Supplemental Indenture, to be designated, and
                  to be distinguished from the bonds of all other series, by the
                  title "General and Refunding Mortgage Bonds, 2005 Series E"
                  (elsewhere herein referred to as the "bonds of 2005 Series
                  E"). The aggregate principal amount of bonds of 2005 Series E
                  shall be limited to Two hundred fifty million
                  dollars($250,000,000), except as provided in Sections 7 and 13
                  of Article II of the Original Indenture with respect to
                  exchanges and replacements of bonds, and except further that
                  the Company may, without the consent of any holder of the
                  bonds of 2005 Series E, "reopen" the bonds of 2005 Series E so
                  as to increase the aggregate principal amount outstanding to
                  equal the aggregate principal amount of Notes (as defined
                  below) outstanding upon a "reopening" of the series, so long
                  as any additional bonds of 2005 Series E have the same tenor
                  and terms as the bonds of 2005 Series E established hereby.

                  Subject to the release provisions set forth below, each bond
                  of 2005 Series E is to be irrevocably assigned to, and
                  registered in the name of, J.P. Morgan Trust Company, National
                  Association, as trustee, or a successor trustee (said trustee
                  or any successor trustee being hereinafter referred to as the
                  "Note Indenture Trustee"), under the collateral trust
                  indenture, dated as of June 30, 1993, as supplemented (the
                  "Note Indenture"), between the Note Indenture Trustee and the
                  Company, to secure payment of the Company's 2005 Series E
                  5.70% Senior Notes due 2037 (for purposes of this Part I, the
                  "Notes").

                  The bonds of 2005 Series E shall be issued as registered bonds
                  without coupons in denominations of a multiple of $1,000. The
                  bonds of 2005 Series E shall be issued in the aggregate
                  principal amount of $250,000,000, shall mature on October 1,
                  2037 (subject to earlier redemption or release) and shall bear
                  interest at the rate of 5.70% per annum, payable semi-annually
                  in arrears on April 1 and October 1 of each year (commencing
                  April 1, 2006), until the principal thereof shall have become
                  due and payable and thereafter until the Company's obligation
                  with respect to the payment of said principal shall have been
                  discharged as provided in the Indenture.



                                       11
<PAGE>



                  The bonds of 2005 Series E shall be payable as to principal,
                  premium, if any, and interest as provided in the Indenture,
                  but only to the extent and in the manner herein provided. The
                  bonds of 2005 Series E shall be payable, as to principal,
                  premium, if any, and interest, at the office or agency of the
                  Company in the Borough of Manhattan, the City and State of New
                  York, in any coin or currency of the United States of America
                  which at the time of payment is legal tender for public and
                  private debts.

                  Except as provided herein, each bond of 2005 Series E shall be
                  dated the date of its authentication and interest shall be
                  payable on the principal represented thereby from the April 1
                  or October 1 next preceding the date thereof to which interest
                  has been paid on bonds of 2005 Series E, unless the bond is
                  authenticated on a date to which interest has been paid, in
                  which case interest shall be payable from the date of
                  authentication, or unless the date of authentication is prior
                  to April 1, 2006, in which case interest shall be payable from
                  October 6, 2005.

                  The bonds of 2005 Series E in definitive form shall be, at the
                  election of the Company, fully engraved or shall be
                  lithographed or printed in authorized denominations as
                  aforesaid and numbered R-1 and upwards (with such further
                  designation as may be appropriate and desirable to indicate by
                  such designation the form, series and denomination of bonds of
                  2005 Series E). Until bonds of 2005 Series E in definitive
                  form are ready for delivery, the Company may execute, and upon
                  its request in writing the Trustee shall authenticate and
                  deliver in lieu thereof, bonds of 2005 Series E in temporary
                  form, as provided in Section 10 of Article II of the
                  Indenture. Temporary bonds of 2005 Series E, if any, may be
                  printed and may be issued in authorized denominations in
                  substantially the form of definitive bonds of 2005 Series E,
                  but without a recital of redemption prices and with such
                  omissions, insertions and variations as may be appropriate for
                  temporary bonds, all as may be determined by the Company.

                  Interest on any bond of 2005 Series E that is payable on any
                  interest payment date and is punctually paid or duly provided
                  for shall be paid to the person in whose name that bond, or
                  any previous bond to the extent evidencing the same debt as
                  that evidenced by that bond, is registered at the close of
                  business on the regular record date for such interest, which
                  regular record date shall be the fifteenth calendar day
                  (whether or not a business day) next preceding such interest
                  payment date. If the Company shall default in the payment of
                  the interest due on any interest payment date on the principal
                  represented by any bond of 2005 Series E, such defaulted
                  interest shall forthwith cease to be payable to the registered
                  holder of that bond on the relevant regular record date by
                  virtue of his having been such holder, and such defaulted
                  interest may be paid to the registered holder of that bond (or
                  any bond or bonds of 2005 Series E issued upon transfer or
                  exchange thereof) on the date of payment of such defaulted
                  interest or, at the election of the Company, to the person in
                  whose name that bond (or any bond or bonds of 2005 Series E
                  issued upon transfer or exchange thereof) is registered on a
                  subsequent record date established by notice given by mail by
                  or on behalf of the Company to the holders of bonds of 2005
                  Series E not less than ten (10) days preceding such subsequent
                  record date, which subsequent record date shall be at least
                  five (5) days prior to the payment date of such defaulted
                  interest.



                                       12
<PAGE>



                  Bonds of 2005 Series E shall not be assignable or transferable
                  except as may be set forth under Section 405 of the Note
                  Indenture or in the supplemental note indenture relating to
                  the Notes, or, subject to compliance with applicable law, as
                  may be involved in the course of the exercise of rights and
                  remedies consequent upon an Event of Default under the Note
                  Indenture. Any such transfer shall be made upon surrender
                  thereof for cancellation at the office or agency of the
                  Company in the Borough of Manhattan, the City and State of New
                  York, together with a written instrument of transfer (if so
                  required by the Company or by the Trustee) in form approved by
                  the Company duly executed by the holder or by its duly
                  authorized attorney. Bonds of 2005 Series E shall in the same
                  manner be exchangeable for a like aggregate principal amount
                  of bonds of 2005 Series E upon the terms and conditions
                  specified herein and in Section 7 of Article II of the
                  Indenture. The Company waives its rights under Section 7 of
                  Article II of the Indenture not to make exchanges or transfers
                  of bonds of 2005 Series E during any period of ten (10) days
                  next preceding any redemption date for such bonds.

                  Bonds of 2005 Series E, in definitive and temporary form, may
                  bear such legends as may be necessary to comply with any law
                  or with any rules or regulations made pursuant thereto or as
                  may be specified in the Note Indenture.

                  Upon payment of the principal or premium, if any, or interest
                  on the Notes, whether at maturity or prior to maturity by
                  redemption or otherwise, or upon provision for the payment
                  thereof having been made in accordance with Article V of the
                  Note Indenture, bonds of 2005 Series E in a principal amount
                  equal to the principal amount of such Notes, shall, to the
                  extent of such payment of principal, premium or interest, be
                  deemed fully paid and the obligation of the Company thereunder
                  to make such payment shall forthwith cease and be discharged,
                  and, in the case of the payment of principal and premium, if
                  any, such bonds shall be surrendered for cancellation or
                  presented for appropriate notation to the Trustee.

RELEASE.          SECTION 2. From and after the Release Date (as defined in the
                  Note Indenture), the bonds of 2005 Series E shall be deemed
                  fully paid, satisfied and discharged and the obligation of the
                  Company thereunder shall be terminated. On the Release Date,
                  the bonds of 2005 Series E shall be surrendered to and
                  canceled by the Trustee. The Company covenants and agrees
                  that, prior to the Release Date, it will not take any action
                  that would cause the outstanding principal amount of the bonds
                  of 2005 Series E to be less than the then outstanding
                  principal amount of the Notes.

REDEMPTION OF     SECTION 3. Bonds of 2005 Series E shall be redeemed on the
BONDS OF 2005     respective dates and in the respective principal amounts which
SERIES E.         correspond to the redemption dates for, and the principal
                  amounts to be redeemed of, the Notes.

                  In the event the Company elects to redeem any Notes prior to
                  maturity in accordance with the provisions of the Note
                  Indenture, the Company shall give the Trustee notice of
                  redemption of bonds of 2005 Series E on the same date as it
                  gives notice of redemption of Notes to the Note Indenture
                  Trustee.



                                       13
<PAGE>



REDEMPTION OF     SECTION 4. In the event of an Event of Default under the Note
BONDS OF 2005     Indenture and the acceleration of all Notes, the bonds of 2005
SERIES E IN       Series E shall be redeemable in whole upon receipt by the
EVENT OF          Trustee of a written demand (hereinafter called a "Redemption
ACCELERATION      Demand") from the Note Indenture Trustee stating that there
OF NOTES.         has occurred under the Note Indenture both an Event of Default
                  and a declaration of acceleration of payment of principal,
                  accrued interest and premium, if any, on the Notes, specifying
                  the last date to which interest on the Notes has been paid
                  (such date being hereinafter referred to as the "Initial
                  Interest Accrual Date") and demanding redemption of the bonds
                  of said series. The Trustee shall, within five (5) days after
                  receiving such Redemption Demand, mail a copy thereof to the
                  Company marked to indicate the date of its receipt by the
                  Trustee. Promptly upon receipt by the Company of such copy of
                  a Redemption Demand, the Company shall fix a date on which it
                  will redeem the bonds of said series so demanded to be
                  redeemed (hereinafter called the "Demand Redemption Date").
                  Notice of the date fixed as the Demand Redemption Date shall
                  be mailed by the Company to the Trustee at least ten (10) days
                  prior to such Demand Redemption Date. The date to be fixed by
                  the Company as and for the Demand Redemption Date may be any
                  date up to and including the earlier of (x) the 60th day after
                  receipt by the Trustee of the Redemption Demand or (y) the
                  maturity date of such bonds first occurring following the 20th
                  day after the receipt by the Trustee of the Redemption Demand;
                  provided, however, that if the Trustee shall not have received
                  such notice fixing the Demand Redemption Date on or before the
                  10th day preceding the earlier of such dates, the Demand
                  Redemption Date shall be deemed to be the earlier of such
                  dates. The Trustee shall mail notice of the Demand Redemption
                  Date (such notice being hereinafter called the "Demand
                  Redemption Notice") to the Note Indenture Trustee not more
                  than ten (10) nor less than five (5) days prior to the Demand
                  Redemption Date.

                  Each bond of 2005 Series E shall be redeemed by the Company on
                  the Demand Redemption Date therefor upon surrender thereof by
                  the Note Indenture Trustee to the Trustee at a redemption
                  price equal to the principal amount thereof plus accrued
                  interest thereon at the rate specified for such bond from the
                  Initial Interest Accrual Date to the Demand Redemption Date
                  plus an amount equal to the aggregate premium, if any, due and
                  payable on such Demand Redemption Date on all Notes; provided,
                  however, that in the event of a receipt by the Trustee of a
                  notice that, pursuant to Section 602 of the Note Indenture,
                  the Note Indenture Trustee has terminated proceedings to
                  enforce any right under the Note Indenture, then any
                  Redemption Demand shall thereby be rescinded by the Note
                  Indenture Trustee, and no Demand Redemption Notice shall be
                  given, or, if already given, shall be automatically annulled;
                  but no such rescission or annulment shall extend to or affect
                  any subsequent default or impair any right consequent thereon.

                  Anything herein contained to the contrary notwithstanding, the
                  Trustee is not authorized to take any action pursuant to a
                  Redemption Demand and such Redemption Demand shall be of no
                  force or effect, unless it is executed in the name of the Note
                  Indenture Trustee by its President or one of its Vice
                  Presidents.

FORM              SECTION 5. The bonds of 2005 Series E (including the reverse
OF BONDS OF       thereof) and the form of Trustee's Certificate to be endorsed
2005 SERIES E.    on such bonds shall be substantially in the following forms,
                  respectively:



                                       14
<PAGE>



                           THE DETROIT EDISON COMPANY
                       GENERAL AND REFUNDING MORTGAGE BOND
                                  2005 SERIES E

                  Notwithstanding any provisions hereof or in the Indenture,
                  this bond is not assignable or transferable except as may be
                  required to effect a transfer to any successor trustee under
                  the Collateral Trust Indenture, dated as of June 30, 1993, as
                  amended, and as further supplemented as of September 30, 2005,
                  between The Detroit Edison Company and J.P. Morgan Trust
                  Company, National Association, as Note Indenture Trustee, or,
                  subject to compliance with applicable law, as may be involved
                  in the course of the exercise of rights and remedies
                  consequent upon an Event of Default under said Indenture.

                  $______________                                      No. R-___

                  THE DETROIT EDISON COMPANY (hereinafter called the "Company"),
                  a corporation of the State of Michigan, for value received,
                  hereby promises to pay to J.P. Morgan Trust Company, National
                  Association, as Note Indenture Trustee, or registered assigns,
                  at the Company's office or agency in the Borough of Manhattan,
                  the City and State of New York, the principal sum of
                  ____________________ Dollars ($__________) in lawful money of
                  the United States of America on October 1, 2037 (subject to
                  earlier redemption or release) and interest thereon at the
                  rate of 5.70% per annum, in like lawful money, from October 6,
                  2005, and after the first payment of interest on bonds of this
                  Series has been made or otherwise provided for, from the most
                  recent date to which interest has been paid or otherwise
                  provided for, semi-annually on April 1 and October 1 of each
                  year (commencing April 1, 2006), until the Company's
                  obligation with respect to payment of said principal shall
                  have been discharged, all as provided, to the extent and in
                  the manner specified in the Indenture hereinafter mentioned
                  and in the supplemental indenture pursuant to which this bond
                  has been issued.

                  Under a Collateral Trust Indenture, dated as of June 30, 1993,
                  as amended and as further supplemented as of September 30,
                  2005 (hereinafter called the "Note Indenture"), between the
                  Company and J.P. Morgan Trust Company, National Association,
                  as trustee (hereinafter called the "Note Indenture Trustee"),
                  the Company has issued its 2005 Series E 5.70% Senior Notes
                  due 2037 (the "Notes"). This bond was originally issued to the
                  Note Indenture Trustee so as to secure the payment of the
                  Notes. Payments of principal of, or premium, if any, or
                  interest on, the Notes shall constitute like payments on this
                  bond as further provided herein and in the supplemental
                  indenture pursuant to which this bond has been issued.

                  Reference is hereby made to such further provisions of this
                  bond set forth on the reverse hereof and such provisions shall
                  for all purposes have the same effect as though set forth in
                  this place.

                  This bond shall not be valid or become obligatory for any
                  purpose until J.P. Morgan Trust Company, National Association,
                  the Trustee under the Indenture, or its successor thereunder,
                  shall have signed the form of certificate endorsed hereon.



                                       15
<PAGE>



                  IN WITNESS WHEREOF, THE DETROIT EDISON COMPANY has caused this
                  instrument to be executed by an authorized officer, with his
                  or her manual or facsimile signatures, and its corporate seal,
                  or a facsimile thereof, to be impressed or imprinted hereon
                  and the same to be attested by its Corporate Secretary or
                  Assistant Corporate Secretary by manual or facsimile
                  signature.

                  Dated: _____________

                                                THE DETROIT EDISON COMPANY


                                                By:
                                                    ----------------------------
                                                Name:
                                                Title:

                  [Corporate Seal]

                  Attest:

                  By:
                      ------------------------
                  Name:
                  Title:

                         [FORM OF TRUSTEE'S CERTIFICATE]

FORM OF           This bond is one of the bonds, of the series designated
TRUSTEE'S         therein, described in the within-mentioned Indenture.
CERTIFICATE.

                                                J.P. MORGAN TRUST COMPANY,
                                                NATIONAL ASSOCIATION as Trustee


                                                By:
                                                    ----------------------------
                                                          Authorized Officer

                            [FORM OF REVERSE OF BOND]

FORM OF           This bond is one of an authorized issue of bonds of the
REVERSE OF        Company, unlimited as to amount except as provided in the
BOND              Indenture hereinafter mentioned or any indentures supplemental
                  thereto, and is one of a series of General and Refunding
                  Mortgage Bonds known as 2005 Series E, limited to an aggregate
                  principal amount of $250,000,000, except as otherwise provided
                  in the Indenture hereinafter mentioned. This bond and all
                  other bonds of said series are issued and to be issued under,
                  and are all equally and ratably secured (except insofar as any
                  sinking, amortization, improvement or analogous fund,
                  established in accordance with the provisions of the Indenture
                  hereinafter mentioned, may afford additional security for the
                  bonds of any particular series and except as provided in
                  Section 3 of Article VI of said Indenture) by an Indenture,
                  dated as of October 1, 1924, duly executed by the Company to
                  J.P. Morgan Trust Company, National Association, as successor
                  in interest to Bank One, National Association, as Trustee, to
                  which Indenture and all indentures supplemental thereto
                  (including the Supplemental Indenture dated as of September
                  30, 2005) reference is hereby made for a description of the



                                       16
<PAGE>



                  properties and franchises mortgaged and conveyed, the nature
                  and extent of the security, the terms and conditions upon
                  which the bonds are issued and under which additional bonds
                  may be issued, and the rights of the holders of the bonds and
                  of the Trustee in respect of such security (which Indenture
                  and all indentures supplemental thereto, including the
                  Supplemental Indenture dated as of September 30, 2005, are
                  hereinafter collectively called the "Indenture"). As provided
                  in the Indenture, said bonds may be for various principal sums
                  and are issuable in series, which may mature at different
                  times, may bear interest at different rates and may otherwise
                  vary as in said Indenture provided. With the consent of the
                  Company and to the extent permitted by and as provided in the
                  Indenture, the rights and obligations of the Company and of
                  the holders of the bonds and the terms and provisions of the
                  Indenture, or of any indenture supplemental thereto, may be
                  modified or altered in certain respects by affirmative vote of
                  at least eighty-five percent (85%) in amount of the bonds then
                  outstanding, and, if the rights of one or more, but less than
                  all, series of bonds then outstanding are to be affected by
                  the action proposed to be taken, then also by affirmative vote
                  of at least eighty-five percent (85%) in amount of the series
                  of bonds so to be affected (excluding in every instance bonds
                  disqualified from voting by reason of the Company's interest
                  therein as specified in the Indenture); provided, however,
                  that, without the consent of the holder hereof, no such
                  modification or alteration shall, among other things, affect
                  the terms of payment of the principal of or the interest on
                  this bond, which in those respects is unconditional.

                  This bond is redeemable prior to the Release Date upon the
                  terms and conditions set forth in the Indenture, including
                  provision for redemption upon demand of the Note Indenture
                  Trustee following the occurrence of an Event of Default under
                  the Note Indenture and the acceleration of the principal of
                  the Notes.

                  Under the Indenture, funds may be deposited with the Trustee
                  (which shall have become available for payment), in advance of
                  the redemption date of any of the bonds of 2005 Series E (or
                  portions thereof), in trust for the redemption of such bonds
                  (or portions thereof) and the interest due or to become due
                  thereon, and thereupon all obligations of the Company in
                  respect of such bonds (or portions thereof) so to be redeemed
                  and such interest shall cease and be discharged, and the
                  holders thereof shall thereafter be restricted exclusively to
                  such funds for any and all claims of whatsoever nature on
                  their part under the Indenture or with respect to such bonds
                  (or portions thereof) and interest.

                  In case an event of default, as defined in the Indenture,
                  shall occur, the principal of all the bonds issued thereunder
                  may become or be declared due and payable, in the manner, with
                  the effect and subject to the conditions provided in the
                  Indenture.

                  Upon payment of the principal of, or premium, if any, or
                  interest on, the Notes, whether at maturity or prior to
                  maturity by redemption or otherwise or upon provision for the
                  payment thereof having been made in accordance with Article V
                  of the Note Indenture, bonds of 2005 Series E in a principal
                  amount equal to the principal amount of such Notes, and having
                  both a corresponding maturity date and interest rate shall, to
                  the extent of such payment of principal, premium or interest,
                  be deemed fully paid and the obligation of the Company
                  thereunder to make such payment shall forthwith cease and be
                  discharged, and,



                                       17
<PAGE>



                  in the case of the payment of principal and premium, if any,
                  such bonds of said series shall be surrendered for
                  cancellation or presented for appropriate notation to the
                  Trustee.

                  This bond is not assignable or transferable except as set
                  forth under Section 405 of the Note Indenture or in the
                  supplemental indenture relating to the Notes, or, subject to
                  compliance with applicable law, as may be involved in the
                  course of the exercise of rights and remedies consequent upon
                  an Event of Default under the Note Indenture. Any such
                  transfer shall be made by the registered holder hereof, in
                  person or by his attorney duly authorized in writing, on the
                  books of the Company kept at its office or agency in the
                  Borough of Manhattan, the City and State of New York, upon
                  surrender and cancellation of this bond, and thereupon, a new
                  registered bond of the same series of authorized denominations
                  for a like aggregate principal amount will be issued to the
                  transferee in exchange therefor, and this bond with others in
                  like form may in like manner be exchanged for one or more new
                  bonds of the same series of other authorized denominations,
                  but of the same aggregate principal amount, all as provided
                  and upon the terms and conditions set forth in the Indenture,
                  and upon payment, in any event, of the charges prescribed in
                  the Indenture.

                  From and after the Release Date (as defined in the Note
                  Indenture), the bonds of 2005 Series E shall be deemed fully
                  paid, satisfied and discharged and the obligation of the
                  Company thereunder shall be terminated. On the Release Date,
                  the bonds of 2005 Series E shall be surrendered to and
                  cancelled by the Trustee. The Company covenants and agrees
                  that, prior to the Release Date, it will not take any action
                  that would cause the outstanding principal amount of the bond
                  of 2005 Series E to be less than the then outstanding
                  principal amount of the Notes.

                  No recourse shall be had for the payment of the principal of
                  or the interest on this bond, or for any claim based hereon or
                  otherwise in respect hereof or of the Indenture, or of any
                  indenture supplemental thereto, against any incorporator, or
                  against any past, present or future stockholder, director or
                  officer, as such, of the Company, or of any predecessor or
                  successor corporation, either directly or through the Company
                  or any such predecessor or successor corporation, whether for
                  amounts unpaid on stock subscriptions or by virtue of any
                  constitution, statute or rule of law, or by the enforcement of
                  any assessment or penalty or otherwise howsoever; all such
                  liability being, by the acceptance hereof and as part of the
                  consideration for the issue hereof, expressly waived and
                  released by every holder or owner hereof, as more fully
                  provided in the Indenture.

                                    PART II.

                            RECORDING AND FILING DATA

RECORDING AND     The Original Indenture and indentures supplemental thereto
FILING OF         have been recorded and/or filed and Certificates of Provision
ORIGINAL          for Payment have been recorded as hereinafter set forth.
INDENTURE.
                  The Original Indenture has been recorded as a real estate
                  mortgage and filed as a chattel Mortgage in the offices of the
                  respective Registers of Deeds of certain



                                       18
<PAGE>



                  counties in the State of Michigan as set forth in the
                  Supplemental Indenture dated as of September 1, 1947, has been
                  recorded as a real estate mortgage in the office of the
                  Register of Deeds of Genesee County, Michigan as set forth in
                  the Supplemental Indenture dated as of May 1, 1974, has been
                  filed in the Office of the Secretary of State of Michigan on
                  November 16, 1951 and has been filed and recorded in the
                  office of the Interstate Commerce Commission on December 8,
                  1969.

RECORDING AND     Pursuant to the terms and provisions of the Original
FILING OF         Indenture, indentures supplemental thereto heretofore entered
SUPPLEMENTAL      into have been Recorded as a real estate mortgage and/or filed
INDENTURES.       as a chattel mortgage or as a financing statement in the
                  offices of the respective Registers of Deeds of certain
                  counties in the State of Michigan, the Office of the Secretary
                  of State of Michigan and the Office of the Interstate Commerce
                  Commission, as set forth in supplemental indentures as
                  follows:

<Table>
<Caption>
                                                                         RECORDED AND/OR FILED AS
                                                                         SET FORTH IN
   SUPPLEMENTAL INDENTURE             PURPOSE OF SUPPLEMENTAL            SUPPLEMENTAL
   DATED AS OF                        INDENTURE                          INDENTURE DATED AS OF
   -------------------------------    -----------------------            -------------------------
<S>                                   <C>                                <C>
   June 1, 1925(a)(b).............    Series B Bonds                     February 1, 1940
   August 1, 1927(a)(b)...........    Series C Bonds                     February 1, 1940
   February 1, 1931(a)(b).........    Series D Bonds                     February 1, 1940
   June 1, 1931(a)(b).............    Subject Properties                 February 1, 1940
   October 1, 1932(a)(b)..........    Series E Bonds                     February 1, 1940
   September 25, 1935(a)(b).......    Series F Bonds                     February 1, 1940
   September 1, 1936(a)(b)........    Series G Bonds                     February 1, 1940
   November 1, 1936(a)(b).........    Subject Properties                 February 1, 1940
   February 1, 1940(a)(b).........    Subject Properties                 September 1, 1947
   December 1, 1940(a)(b).........    Series H Bonds and Additional      September 1, 1947
                                      Provisions
   September 1, 1947(a)(b)(c).....    Series I Bonds, Subject            November 15, 1951
                                      Properties and Additional
                                      Provisions
   March 1, 1950(a)(b)(c).........    Series J Bonds and Additional      November 15, 1951
                                      Provisions
   November 15, 1951(a)(b)(c).....    Series K Bonds Additional          January 15, 1953
                                      Provisions and Subject Properties
   January 15, 1953(a)(b).........    Series L Bonds                     May 1, 1953
   May 1, 1953(a).................    Series M Bonds and Subject         March 15, 1954
                                      Properties
   March 15, 1954(a)(c)...........    Series N Bonds and Subject         May 15, 1955
                                      Properties
   May 15, 1955(a)(c).............    Series O Bonds and Subject         August 15, 1957
                                      Properties
   August 15, 1957(a)(c)..........    Series P Bonds Additional          June 1, 1959
                                      Provisions and Subject Properties
   June 1, 1959(a)(c).............    Series Q Bonds and Subject         December 1, 1966
                                      Properties
</Table>



                                       19
<PAGE>


<Table>
<Caption>
                                                                         RECORDED AND/OR FILED AS
                                                                         SET FORTH IN
   SUPPLEMENTAL INDENTURE             PURPOSE OF SUPPLEMENTAL            SUPPLEMENTAL
   DATED AS OF                        INDENTURE                          INDENTURE DATED AS OF
   -------------------------------    -----------------------            -------------------------
<S>                                   <C>                                <C>
   December 1, 1966(a)(c).........    Series R Bonds Additional          October 1, 1968
                                      Provisions and Subject Properties
   October 1, 1968(a)(c)..........    Series S Bonds and Subject         December 1, 1969
                                      Properties
   December 1, 1969(a)(c).........    Series T Bonds and Subject         July 1, 1970
                                      Properties
   July 1, 1970(c)................    Series U Bonds and Subject         December 15, 1970
                                      Properties
   December 15, 1970(c)...........    Series V and Series W Bonds        June 15, 1971
   June 15, 1971(c)...............    Series X Bonds and Subject         November 15, 1971
                                      Properties
   November 15, 1971(c)...........    Series Y Bonds and Subject         January 15, 1973
                                      Properties
   January 15, 1973(c)............    Series Z Bonds and Subject         May 1, 1974
                                      Properties
   May 1, 1974....................    Series AA Bonds and Subject        October 1, 1974
                                      Properties
   October 1, 1974................    Series BB Bonds and Subject        January 15, 1975
                                      Properties
   January 15, 1975...............    Series CC Bonds and Subject        November 1, 1975
                                      Properties
   November 1, 1975...............    Series DDP Nos. 1-9 Bonds and      December 15, 1975
                                      Subject Properties
   December 15, 1975..............    Series EE Bonds and Subject        February 1, 1976
                                      Properties
   February 1, 1976...............    Series FFR Nos. 1-13 Bonds         June 15, 1976
   June 15, 1976..................    Series GGP Nos. 1-7 Bonds and      July 15, 1976
                                      Subject Properties
   July 15, 1976..................    Series HH Bonds and Subject        February 15, 1977
                                      Properties
   February 15, 1977..............    Series MMP Bonds and Subject       March 1, 1977
                                      Properties
   March 1, 1977..................    Series IIP Nos. 1-7 Bonds, Series  June 15, 1977
                                      JJP Nos. 1-7 Bonds, Series KKP
                                      Nos. 1-7 Bonds and Series LLP
                                      Nos. 1-7 Bonds
   June 15, 1977..................    Series FFR No. 14 Bonds and        July 1, 1977
                                      Subject Properties
   July 1, 1977...................    Series NNP Nos. 1-7 Bonds and      October 1, 1977
                                      Subject Properties
   October 1, 1977................    Series GGP Nos. 8-22 Bonds and     June 1, 1978
                                      Series OOP Nos. 1-17 Bonds and
                                      Subject Properties
</Table>



                                       20
<PAGE>



<Table>
<Caption>
                                                                         RECORDED AND/OR FILED AS
                                                                         SET FORTH IN
   SUPPLEMENTAL INDENTURE             PURPOSE OF SUPPLEMENTAL            SUPPLEMENTAL
   DATED AS OF                        INDENTURE                          INDENTURE DATED AS OF
   -------------------------------    -----------------------            -------------------------
<S>                                   <C>                                <C>
   June 1, 1978...................    Series PP Bonds, Series QQP Nos.   October 15, 1978
                                      1-9 Bonds and Subject Properties
   October 15, 1978...............    Series RR Bonds and Subject        March 15, 1979
                                      Properties
   March 15, 1979.................    Series SS Bonds and Subject        July 1, 1979
                                      Properties
   July 1, 1979...................    Series IIP Nos. 8-22 Bonds,        September 1, 1979
                                      Series NNP Nos. 8-21 Bonds and
                                      Series TTP Nos. 1-15 Bonds and
                                      Subject Properties
   September 1, 1979..............    Series JJP No. 8 Bonds, Series     September 15, 1979
                                      KKP No. 8 Bonds, Series LLP Nos.
                                      8-15 Bonds, Series MMP No. 2
                                      Bonds and Series OOP No. 18 Bonds
                                      and Subject Properties
   September 15, 1979.............    Series UU Bonds                    January 1, 1980
   January 1, 1980................    1980 Series A Bonds and Subject    April 1, 1980
                                      Properties
   April 1, 1980..................    1980 Series B Bonds                August 15, 1980
   August 15, 1980................    Series QQP Nos. 10-19 Bonds, 1980  August 1, 1981
                                      Series CP Nos. 1-12 Bonds and
                                      1980 Series DP No. 1-11 Bonds and
                                      Subject Properties
   August 1, 1981.................    1980 Series CP Nos. 13-25 Bonds    November 1, 1981
                                      and Subject Properties
   November 1, 1981...............    1981 Series AP Nos. 1-12 Bonds     June 30, 1982
   June 30, 1982..................    Article XIV Reconfirmation         August 15, 1982
   August 15, 1982................    1981 Series AP Nos. 13-14 and      June 1, 1983
                                      Subject Properties
   June 1, 1983...................    1981 Series AP Nos. 15-16 and      October 1, 1984
                                      Subject Properties
   October 1, 1984................    1984 Series AP and 1984 Series BP  May 1, 1985
                                      Bonds and Subject Properties
   May 1, 1985....................    1985 Series A Bonds                May 15, 1985
   May 15, 1985...................    1985 Series B Bonds and Subject    October 15, 1985
                                      Properties
   October 15, 1985...............    Series KKP No. 9 Bonds and         April 1, 1986
                                      Subject Properties
   April 1, 1986..................    1986 Series A and Subject          August 15, 1986
                                      Properties
   August 15, 1986................    1986 Series B and Subject          November 30, 1986
                                      Properties
   November 30, 1986..............    1986 Series C                      January 31, 1987
   January 31, 1987...............    1987 Series A                      April 1, 1987
</Table>



                                       21
<PAGE>


<Table>
<Caption>
                                                                         RECORDED AND/OR FILED AS
                                                                         SET FORTH IN
   SUPPLEMENTAL INDENTURE             PURPOSE OF SUPPLEMENTAL            SUPPLEMENTAL
   DATED AS OF                        INDENTURE                          INDENTURE DATED AS OF
   -------------------------------    -----------------------            -------------------------
<S>                                   <C>                                <C>
   April 1, 1987..................    1987 Series B and 1987 Series C    August 15, 1987
   August 15, 1987................    1987 Series D and 1987 Series E    November 30, 1987
                                      and Subject Properties
   November 30, 1987..............    1987 Series F                      June 15, 1989
   June 15, 1989..................    1989 Series A                      July 15, 1989
   July 15, 1989..................    Series KKP No. 10                  December 1, 1989
   December 1, 1989...............    Series KKP No. 11 and 1989 Series  February 15, 1990
                                      BP
   February 15, 1990..............    1990 Series A, 1990 Series B,      November 1, 1990
                                      1990 Series C, 1990 Series D,
                                      1990 Series E and 1990 Series F
   November 1, 1990...............    Series KKP No. 12                  April 1, 1991
   April 1, 1991..................    1991 Series AP                     May 1, 1991
   May 1, 1991....................    1991 Series BP and 1991 Series CP  May 15, 1991
   May 15, 1991...................    1991 Series DP                     September 1, 1991
   September 1, 1991..............    1991 Series EP                     November 1, 1991
   November 1, 1991...............    1991 Series FP                     January 15, 1992
   January 15, 1992...............    1992 Series BP                     February 29, 1992 and
                                                                         April 15, 1992
   February 29, 1992..............    1992 Series AP                     April 15, 1992
   April 15, 1992.................    Series KKP No. 13                  July 15, 1992
   July 15, 1992..................    1992 Series CP                     November 30, 1992
   July 31, 1992..................    1992 Series D                      November 30, 1992
   November 30, 1992..............    1992 Series E and 1993 Series D    March 15, 1993
   December 15, 1992..............    Series KKP No. 14 and 1989 Series  March 15, 1993
                                      BP No. 2
   January 1, 1993................    1993 Series C                      April 1, 1993
   March 1, 1993..................    1993 Series E                      June 30, 1993
   March 15, 1993.................    1993 Series D                      September 15, 1993
   April 1, 1993..................    1993 Series FP and 1993 Series IP  September 15, 1993
   April 26, 1993.................    1993 Series G and Amendment of     September 15, 1993
                                      Article II, Section 5
   May 31, 1993...................    1993 Series J                      September 15, 1993
   September 15, 1993.............    1993 Series K                      March 1, 1994
   March 1, 1994..................    1994 Series AP                     June 15, 1994
   June 15, 1994..................    1994 Series BP                     December 1, 1994
   August 15, 1994................    1994 Series C                      December 1, 1994
   December 1, 1994...............    Series KKP No. 15 and 1994 Series  August 1, 1995
                                      DP
   August 1, 1995.................    1995 Series AP and 1995 Series DP  August 1, 1999
</Table>

                  (a) See Supplemental Indenture dated as of July 1, 1970 for
                  Interstate Commerce Commission filing and recordation
                  information.



                                       22
<PAGE>


<Table>
<Caption>
                                                                         RECORDED AND/OR FILED AS
                                                                         SET FORTH IN
   SUPPLEMENTAL INDENTURE             PURPOSE OF SUPPLEMENTAL            SUPPLEMENTAL
   DATED AS OF                        INDENTURE                          INDENTURE DATED AS OF
   -------------------------------    -----------------------            -------------------------
<S>                                   <C>                                <C>

                  (b) See Supplemental Indenture dated as of May 1, 1953 for
                  Secretary of State of Michigan filing information.

                  (c) See Supplemental Indenture dated as of May 1, 1974 for
                  County of Genesee, Michigan recording and filing information.



RECORDING AND     Further, pursuant to the terms and provisions of the Original
FILING OF         Indenture, a Supplemental Indenture dated as of February 1,
SUPPLEMENTAL      2005 providing for the terms of bonds to be issued thereunder
INDENTURE         of 2005 Series A and 2005 Series B has heretofore been entered
DATED AS OF       into between the Company and the Trustee and has been filed in
FEBRUARY 1,       the Office of the Secretary of State of Michigan as a
2005.             financing statement on February 23, 2005 (Filing No.
                  2005036247-6), has been filed and recorded in the Office of
                  the Surface Transportation Board (Recordation No. 5485-HHHHH)
                  on February 18, 2005, and has been recorded as a real estate
                  mortgage in the offices of the respective Register of Deeds of
                  certain counties in the State of Michigan, as follows:
</Table>


<Table>
<Caption>
                                                               LIBER/
   COUNTY                                    RECORDED          INSTRUMENT NO.        PAGE
   ------                                    --------          --------------        ----
<S>                                          <C>               <C>                   <C>
   Genesee...............................    2/15/05           200502150014717       N/A
   Huron.................................    2/7/05            1093                  705
   Ingham................................    2/8/05            3150                  1158
   Lapeer................................    2/7/05            2006                  706
   Lenawee...............................    2/7/05            2290                  824
   Livingston............................    2/7/05            Not available         Not available
   Macomb................................    2/11/05           16388                 602
   Mason.................................    2/7/05            569                   621
   Monroe................................    2/7/05            2873                  984
   Oakland...............................    2/4/05            34917                 695
   St. Clair.............................    2/7/05            3277                  142
   Sanilac...............................    2/8/05            874                   384
   Tuscola...............................    2/9/05            1027                  90
   Washtenaw.............................    2/9/05            4457                  272
   Wayne.................................    2/8/05            42154                 235
</Table>


RECORDING OF      All the bonds of Series A which were issued under the Original
CERTIFICATES OF   Indenture dated as of October 1, 1924, and of Series B, C, D,
PROVISION FOR     E, F, G, H, I, J, K, L, M, N, O, P, Q, R, S, W, Y, Z, AA, BB,
PAYMENT.          CC, DDP Nos. 1-9, FFR Nos. 1-14, GGP Nos. 1-22, HH, IIP Nos.
                  1-22, JJP Nos. 1-8, KKP Nos. 1-9, LLP Nos. 1-15, NNP Nos.
                  1-21, OOP Nos. 1-18, QQP Nos. 1-17, TTP Nos. 1-15, UU, 1980
                  Series A, 1980 Series CP Nos. 1-25, 1980 Series DP Nos. 1-11,
                  1981 Series AP Nos. 1-16, 1984 Series AP, 1984 Series BP, 1985
                  Series A, 1985 Series B, 1987 Series A, PP, RR, EE, MMP, MMP
                  No. 2, 1989 Series A, 1990 Series A, 1993 Series D, 1993
                  Series G and 1993 Series H which were issued under
                  Supplemental Indentures dated as of, respectively, June 1,
                  1925, August 1, 1927, February 1, 1931, October 1, 1932,
                  September 25, 1935, September 1, 1936, December 1, 1940,
                  September 1, 1947, November 15, 1951, January 15, 1953,



                                       23
<PAGE>



                  May 1, 1953, March 15, 1954, May 15, 1955, August 15, 1957,
                  December 15, 1970, November 15, 1971, January 15, 1973, May 1,
                  1974, October 1, 1974, January 15, 1975, November 1, 1975,
                  February 1, 1976, June 15, 1976, July 15, 1976, October 1,
                  1977, March 1, 1977, July 1, 1979, March 1, 1977, March 1,
                  1977, March 1, 1977, September 1, 1979, July 1, 1977, July 1,
                  1979, September 15, 1979, October 1, 1977, June 1, 1978,
                  October 1, 1977, July 1, 1979, January 1, 1980, August 15,
                  1980, November 1, 1981, October 1, 1984 May 1, 1985, May 15,
                  1985, January 31, 1987, June 1, 1978, October 15, 1978,
                  December 15, 1975, February 15, 1977, September 1, 1979, June
                  15, 1989, February 15, 1990, March 15, 1993, April 26, 1992
                  and September 15, 1992 have matured or have been called for
                  redemption and funds sufficient for such payment or redemption
                  have been irrevocably deposited with the Trustee for that
                  purpose; and Certificates of Provision for Payment have been
                  recorded in the offices of the respective Registers of Deeds
                  of certain counties in the State of Michigan, with respect to
                  all bonds of Series A, B, C, D, E, F, G, H, K, L, M, O, W, BB,
                  CC, DDP Nos. 1 and 2, FFR Nos. 1-3, GGP Nos. 1 and 2, IIP No.
                  1, JJP No. 1, KKP No. 1, LLP No. 1 and GGP No. 8.

                                    PART III.

                                  THE TRUSTEE.

TERMS AND         The Trustee hereby accepts the trust hereby declared and
CONDITIONS OF     provided, and agrees to perform the same upon the terms and
ACCEPTANCE OF     conditions in the Original Indenture, as amended to date and
TRUST BY          as supplemented by this Supplemental Indenture, and in this
TRUSTEE.          Supplemental Indenture set forth, and upon the following terms
                  and conditions:

                  The Trustee shall not be responsible in any manner whatsoever
                  for and in respect of the validity or sufficiency of this
                  Supplemental Indenture or the due execution hereof by the
                  Company or for or in respect of the recitals contained herein,
                  all of which recitals are made by the Company solely.

                                    PART IV.

                                 MISCELLANEOUS.

CONFIRMATION      Except to the extent specifically provided therein, no
OF SECTION        provision of this Supplemental Indenture or any future
318(c) OF TRUST   supplemental indenture is intended to modify, and the parties
INDENTURE ACT.    do hereby adopt and confirm, the provisions of Section 318(c)
                  of the Trust Indenture Act which amend and supersede
                  provisions of the Indenture in effect prior to November 15,
                  1990.

EXECUTION IN      THIS SUPPLEMENTAL INDENTURE MAY BE SIMULTANEOUSLY EXECUTED IN
COUNTERPARTS.     ANY NUMBER OF COUNTERPARTS, EACH OF WHICH WHEN SO EXECUTED
                  SHALL BE DEEMED TO BE AN ORIGINAL; BUT SUCH COUNTERPARTS SHALL
                  TOGETHER CONSTITUTE BUT ONE AND THE SAME INSTRUMENT.

TESTIMONIUM.      IN WITNESS WHEREOF, THE DETROIT EDISON COMPANY AND J.P. MORGAN
                  TRUST COMPANY, NATIONAL ASSOCIATION HAVE CAUSED THESE PRESENTS
                  TO BE SIGNED IN THEIR RESPECTIVE CORPORATE NAMES BY THEIR
                  RESPECTIVE CHAIRMEN OF THE



                                       24
<PAGE>



                  BOARD, PRESIDENTS, VICE PRESIDENTS, ASSISTANT VICE PRESIDENTS,
                  TREASURERS OR ASSISTANT TREASURERS AND IMPRESSED WITH THEIR
                  RESPECTIVE CORPORATE SEALS, ATTESTED BY THEIR RESPECTIVE
                  SECRETARIES OR ASSISTANT SECRETARIES, ALL AS OF THE DAY AND
                  YEAR FIRST ABOVE WRITTEN.



                                       25
<PAGE>



EXECUTION BY                           THE DETROIT EDISON COMPANY
COMPANY.

                                       By:  /s/ Paul A. Stadnikia
                                           ------------------------------------
(Corporate Seal)                       Name: Paul A. Stadnikia
                                       Title: Assistant Treasurer

            Attest:


            By:  /s/ Sandra K. Ennis
                --------------------------
            Name: Sandra K. Ennis
            Title: Corporate Secretary


            Signed, sealed and delivered by
            THE DETROIT EDISON COMPANY
            in the presence of

              /s/ Jaileah X. Huddleston
            ------------------------------
            Name: Jaileah X. Huddleston

              /s/ Stephanie V. Washio
            ------------------------------
            Name: Stephanie V. Washio




                                       26
<PAGE>



                  STATE OF MICHIGAN            )
                                               ) SS
                  COUNTY OF WAYNE              )

ACKNOWLEDG-       On this 4th day of October 2005, before me, the subscriber, a
MENT OF           Notary Public within and for the County of Macomb, in the
EXECUTION BY      State of Michigan, acting in the County of Wayne, personally
COMPANY.          appeared Paul A. Stadnikia, to me personally known, who, being
                  by me duly sworn, did say that he does business at 2000 2nd
                  Avenue, Detroit, Michigan 48226 and is the Assistant Treasurer
                  of THE DETROIT EDISON COMPANY, one of the corporations
                  described in and which executed the foregoing instrument; that
                  he knows the corporate seal of the said corporation and that
                  the seal affixed to said instrument is the corporate seal of
                  said corporation; and that said instrument was signed and
                  sealed in behalf of said corporation by authority of its Board
                  of Directors and that he subscribed his name thereto by like
                  authority; and said Paul A. Stadnikia acknowledged said
                  instrument to be the free act and deed of said corporation.



(Notarial Seal)   /s/ Nancy Jo Wilk-Stasyk
                  ------------------------------------
                  Nancy Jo Wilk-Stasyk, Notary Public
                  County of Macomb, State of Michigan
                  My Commission Expires: March 19, 2011
                  Acting in County of Wayne




                                       27
<PAGE>



EXECUTION BY                                 J.P. MORGAN TRUST COMPANY,
TRUSTEE.                                     NATIONAL ASSOCIATION


                                             By: /s/ J. Michael Banas
                                                 -------------------------------
(Corporate Seal)                             Name: J. Michael Banas
                                             Title: Vice President

                        Attest:


                        By: /s/ Alexis M. Johnson
                            ----------------------------
                        Name: Alexis M. Johnson
                        Title: Authorized Officer



                        Signed, sealed and delivered by
                        J.P. MORGAN TRUST COMPANY,
                        NATIONAL ASSOCIATION
                        in the presence of

                        /s/ Anthony G. Morrow
                        --------------------------------
                        Name: Anthony G. Morrow


                        /s/ Timothy J. Maloche
                        --------------------------------
                        Name: Timothy J. Maloche




                                       28
<PAGE>



                  STATE OF MICHIGAN          )
                                             ) SS
                  COUNTY OF WAYNE            )


ACKNOWLEDG-       On this 4th day of October 2005, before me, the subscriber, a
MENT OF           Notary Public within and for the County of Macomb, in the
EXECUTION BY      State of Michigan, acting in the County of Wayne, personally
TRUSTEE.          appeared J. Michael Banas, to me personally known, who, being
                  by me duly sworn, did say that his business office is located
                  at 611 Woodward Avenue, Detroit, Michigan 48226, and he is
                  Vice President of J.P. MORGAN TRUST COMPANY, NATIONAL
                  ASSOCIATION, one of the corporations described in and which
                  executed the foregoing instrument; that he knows the corporate
                  seal of the said corporation and that the seal affixed to said
                  instrument is the corporate seal of said corporation; and that
                  said instrument was signed and sealed in behalf of said
                  corporation by authority of its Board of Directors and that he
                  subscribed his name thereto by like authority; and said J.
                  Michael Banas acknowledged said instrument to be the free act
                  and deed of said corporation.


(Notarial Seal)   /s/ Nancy Jo Wilk-Stasyk
                  ------------------------------------
                  Nancy Jo Wilk-Stasyk, Notary Public
                  County of Macomb, State of Michigan
                  My Commission Expires: March 19, 2011
                  Acting in County of Wayne



                                       29
<PAGE>



                  STATE OF MICHIGAN            )
                                               ) SS
                  COUNTY OF WAYNE              )


AFFIDAVIT AS TO   Paul A. Stadnikia, being duly sworn, says: that he is the
CONSIDERATION     Assistant Treasurer of THE DETROIT EDISON COMPANY, the
AND GOOD FAITH.   Mortgagor named in the foregoing instrument, and that he has
                  knowledge of the facts in regard to the making of said
                  instrument and of the consideration therefor; that the
                  consideration for said instrument was and is actual and
                  adequate, and that the same was given in good faith for the
                  purposes in such instrument set forth.

                  /s/ Paul A. Stadnikia
                  --------------------------------------
                  Name: Paul A. Stadnikia
                  Title: Assistant Treasurer
                  The Detroit Edison Company



                  Sworn to before me this 4th day of
                  October 2005

(Notarial Seal)   /s/ Nancy Jo Wilk-Stasyk
                  --------------------------------------
                  Nancy Jo Wilk-Stasyk, Notary Public
                  County of Macomb, State of Michigan
                  My Commission Expires: March 19, 2011
                  Acting in County of Wayne



                                       30
<PAGE>



                         This instrument was drafted by:
                           Jaileah X. Huddleston, Esq.
                                 2000 2nd Avenue
                                     688 WCB
                             Detroit, Michigan 48226

                            When recorded return to:
                               Stephanie V. Washio
                                 2000 2nd Avenue
                                     688 WCB
                             Detroit, Michigan 48226




                                       31