Exhibit 99.2

DQE Enterprises, Inc. and Subsidiaries

Consolidating Statements of Income

Year Ended December 31, 2002

	Allegheny Development Corporation			Duquense Enterprises			On Demand			Property Venture Ltd.			JLK			DQE Enterprise Ventures, Inc.			Eliminations			DQE Enterprises Consolidated
Other Revenues	$	—		$	7,500		$	—		$	—		$	—		$	—		$	—		$	7,500
Dividends		—			530,788			—			—			—			—			—			530,788
On Demand Energy Revenue		—			—			948,206			—			—			—			—			948,206
Total Revenues		—			538,288			948,206			—			—			—			—			1,486,495
Salaries		—			98,058			70,850			—			—			3,000			—			171,908
Depreciation & Amortization		—			52,862			91,671			5,109			—			—			—			149,641
Employee Expenses		—			9,050			3,605			—			—			—			—			12,655
Office Supplies And Expenses		—			9,873			2,637			—			—			—			—			12,510
Payroll Fringes And Taxes		—			(37,468	)		(67,885	)		—			—			313			—			(105,040	)
Rent Expense		—			26,048			1,953			—			—			2,000			—			30,001
Telephone Expense		—			6,919			1,309			—			—			—			—			8,228
Office Equipment Leases		—			13,428			—			—			—			—			—			13,428
Insurance Expense		—			(3,484	)		—			861			—			—			—			(2,623	)
Miscellaneous Expense		—			19,804			(52,288	)		—			—			—			—			(32,485	)
DLC-Legal Services		—			16			—			—			—			—			—			16
Advertising & Promotion		—			—			628			—			—			—			—			628
Outside Accounting Services		—			420			—			—			—			—			—			420
Outside Legal Services		—			174,698			26,185			3,932			—			—			—			204,815
Other Outside Services		—			(12,660	)		96,341			—			—			8,771			—			92,453
State Capital Stock Tax		64,578			36,515			1,248			180,874			—			50			—			283,265
Property Tax		—			—			—			635			—			—			—			635
Pgh Business Privilege Tax		—			—			17,798			—			—			—			—			17,798
On Demand Energy Oper Expenses		—			—			1,292,919			—			—			—			—			1,292,919
Total Operating Expense		64,578			394,079			1,486,970			191,410			—			14,134			—			2,151,172
Total Operating Income		(64,578	)		144,209			(538,764	)		(191,410	)		—			(14,134	)		—			(664,677	)
Interest Earned		317,216			53,262			58,793			1,279,116			—			32,103			(1,611,424	)		129,066
Other Income		24,601			(12,267,998	)		(123,419	)		377,876			(356,199	)		(6,608,556	)		—			(18,953,695	)
Total Other Income		341,817			(12,214,735	)		(64,626	)		1,656,991			(356,199	)		(6,576,453	)		(1,611,424	)		(18,824,629	)
Interest Expense		(70,975	)		1,637,493			39,312			2,092			18			—			(1,611,424	)		(3,484	)
Net Income Before Tax		348,214			(13,708,019	)		(642,702	)		1,463,489			(356,217	)		(6,590,587	)		0			(19,485,822	)
Federal Income Taxes		109,700			(701,047	)		(224,946	)		461,050			(124,682	)		6,289			—			(473,636	)
State Income Taxes		33,043			(216,556	)		—			146,203			—			—			—			(37,310	)
Net Income After Tax	$	205,471		$	(12,790,416	)	$	(417,756	)	$	856,236		$	(231,535	)	$	(6,596,876	)	$	0		$	(18,974,876	)

Exhibit 99.2 (cont’d)

DQE Enterprises, Inc. and Subsidiaries

Consolidating Balance Sheet

As of December 31, 2002

	Allegheny Development Corporation			Duquense Enterprises			On Demand			Property Venture Ltd.			JLK		DQE Enterprise Ventures, Inc.		Eliminations			DQE Enterprises Consolidated
ASSETS
Cash	$	—		$	28,203		$	66,038		$	—		$	—	$	10,913	$	1		$	105,155
Temporary Investments		—			—			—			—			—		14,035		—			14,035
Total Cash		—			28,203			66,038			—			—		24,948		1			119,190
Accts Receivable-DLC		—			9,317			—			900			—		—		—			10,217
Accts Receivable-ADC		—			414,243			—			—			—		—		(414,243	)		—
Accts Receivable-PVL		23,001			7,846,147			—			—			—		—		(7,869,148	)		—
Accts Receivable-Keystone		—			(190,554	)		—			—			—		—		190,554			—
Accts Receivable-DQE		34			804,598			424,819			—			—		—		—			1,229,451
Accts Receivable-Monitor.Com		—			156,374			—			—			—		—		—			156,374
Accts Receivable-JLK Tech		13,799			531,453			—			—			—		—		(545,252	)		—
Accts Receivable-On Demand Ene		—			(282,918	)		—			—			—		—		282,918			—
Advances Receivable-PVL		92,912			—			—			—			—		—		(92,912	)		—
Advances Receivable-DE		(6,908,458	)		—			(724,088	)		57,174,168			1,048,970		450,000		(51,040,592	)		—
Accts Receivable-DQE Comm		—			(18,269	)		—			—			—		—		—			(18,269	)
Advances Receivable-Keystone		—			82,704			—			—			—		—		(82,704	)		—
Accounts Receivable-Ventures		—			211,743			—			—			—		—		(211,743	)		—
Accts Receivable-Other		—			52,785			175,176			—			—		11		47,176			275,148
Interest Receivable		—			—			2,137			—			—		—		—			2,137
Notes Receivable-Zbihley		—			—			256,507			—			—		—		—			256,507
Total Receivables		(6,778,712	)		9,617,623			134,551			57,175,068			1,048,970		450,011		(59,735,946	)		1,911,565
Deferred Federal Income Taxes		—			2,578,868			—			—			—		—		—			2,578,868
Deferred State Income Taxes		—			817,511			—			—			—		—		—			817,511
Total Other Current Assets		—			3,396,379			—			—			—		—		—			3,396,379
Total Current Assets		(6,778,712	)		13,042,205			200,589			57,175,068			1,048,970		474,959		(59,735,945	)		5,427,134
Office Furniture & Equipment		—			221,382			239,064			91,952			—		—		—			552,398
Acc Deprec-Off Furn & Equip		—			(213,205	)		(239,064	)		(91,952	)		—		—		—			(544,221	)
Office Furniture & Equipment, net		—			8,177			—			—			—		—		—			8,177
Deferred Debits		(13,738	)		(6,409	)		—			—			—		—		(17,240	)		(37,387	)
Deferred Federal Income Taxes		—			13,046,579			—			—			—		—		—			13,046,579
Deferred State Income Taxes		—			67,492			—			—			—		—		—			67,492
Total Deferred Assets		(13,738	)		13,107,662			—			—			—		—		(17,240	)		13,076,684
Investments		—			60,868,542			—			—			—		2,109,697		(60,866,657	)		2,111,582
Lease Payment Receivable		—			—			519,117			—			—		—		—			519,117
Total Other Assets		—			60,868,542			519,117			—			—		2,109,697		(60,866,657	)		2,630,699
Total Assets	$	(6,792,450	)	$	87,026,585		$	719,707		$	57,175,068		$	1,048,970	$	2,584,656	$	(120,619,842	)	$	21,142,694

Exhibit 99.2 (cont’d)

DQE Enterprises, Inc. and Subsidiaries

Consolidating Balance Sheet

As of December 31, 2002

	Allegheny Development Corporation			Duquense Enterprises			On Demand			Property Venture Ltd.			JLK			DQE Enterprise Ventures, Inc.			Eliminations			DQE Enterprises Consolidated
LIABILITIES & CAPITALIZATION
Accounts Payable-ODE	$	—		$	(47,176	)	$	—		$	—		$	—		$	—		$	47,176		$	—
Accounts Payable-DLC		—			8,356			29,798			—			—			—			—			38,154
Accts Payable-DE		223,691			—			(283,637	)		7,846,147			531,453			211,743			(8,529,398	)		(1	)
Accts Payable-Keystone		—			—			—			23,001			13,799			—			(36,800	)		—
Accounts Payable-DQE		—			18,578			1,979			—			—			—			—			20,557
Accounts Payable—JLK		—			1,048,970			—			—			—			—			(1,048,970	)		—
Advances Payable-ADC		—			91,542			—			92,912			—			—			(184,454	)		—
Advances Payable-PVL		—			57,174,168			—			—			—			—			(57,174,168	)		—
Advances Payable-DE		(6,917,297	)		—			—			—			—			—			6,917,296			(1	)
Advances Payable-ODE		—			(724,088	)		—			—			—			—			723,369			(719	)
Accounts Payable-Valu Source		—			52,500			—			—			—			—			—			52,500
Accounts Payable		—			703			(6,881	)		—			—			—			—			(6,178	)
Accounts Payable-Others		—			24,235			2,759			1,017			—			—			—			28,011
Accounts Payable-Checks Issued		—			(5,526	)		19,317			—			—			—			—			13,791
Payroll Withholdings		—			7,912			9,992			—			—			—			—			17,904
Current Portion Of Lt Debt		—			—			26,146			—			—			—			—			26,146
Interco Advances-Ventures		—			451,050			—			—			—			—			(450,000	)		1,050
Payroll Accrual		—			1,604			—			—			—			—			—			1,604
Total Short Term Payables		(6,693,606	)		58,102,828			(200,527	)		7,963,077			545,252			211,743			(59,735,949	)		192,818
State Income Taxes Payable		(918,523	)		(1,237,509	)		(5,162	)		110,335			91,187			(1,782	)		—			(1,961,454	)
Accrued Local Taxes		—			—			(1,983	)		—			—			—			—			(1,983	)
Accrued Capital Stock Tax		253,899			25,684			(952	)		—			(30,734	)		—			—			247,897
Reserve For ODE A/R		—			93,077			—			—			—			—			—			93,077
Total Other Liabilities		(664,624	)		(1,118,748	)		(8,097	)		110,335			60,453			(1,782	)		—			(1,622,463	)
Total Current Liabilities		(7,358,230	)		56,984,080			(208,624	)		8,073,412			605,705			209,961			(59,735,949	)		(1,429,645	)
Other Liabilities		—			—			169,168			850,290			—			—			(97,876	)		921,582
Deferred Income Taxes		646,142			326,868			47,191			(1,104,816	)		(365	)		(135,803	)		—			(220,783	)
Other Liabilities		—			—			(26,067	)		—			—			—			97,876			71,809
Total Other Liabilities		646,142			326,868			190,292			(254,526	)		(365	)		(135,803	)		—			772,608
Shareholders Equity:
Common Stock		96,001			2			45,500			1			—			—			(141,500	)		4
Additional Paid In Capital		8,041,021			88,906,673			3,731,945			50,320,822			—			8,679,400			(79,886,264	)		79,793,597
Retained Earnings		11,651,272			17,801,357			(2,621,650	)		10,290,463			675,165			427,974			(13,041,595	)		25,182,986
YTD Net Income		205,471			(12,790,416	)		(417,756	)		856,236			(231,535	)		(6,596,876	)		—			(18,974,876	)
Dividends		(20,074,127	)		(64,201,979	)		—			(12,111,340	)		—			—			32,185,467			(64,201,979	)
Treasury Stock		—			—			—			—			—			—			(1	)		(1	)
Total Shareholder Equity		(80,362	)		29,715,637			738,039			49,356,182			443,630			2,510,498			(60,883,893	)		21,799,731
Total Liabilities & Capitalization	$	(6,792,450	)	$	87,026,585		$	719,707		$	57,175,068		$	1,048,970		$	2,584,656		$	(120,619,842	)	$	21,142,694