Exhibit 99.3

DQE Energy Services, LLC and Subsidiaries

Consolidating Statements of Income

Year Ended December 31, 2002

	DQEES		DH Energy			MT Energy		PI		SYNLLC		MT Detroit			DQE Synfuels		Defiance		Monmouth			DH Canada			SVSINC			OPSVC		SOS		Eliminations			DQE Energy Services Consolidated
Revenues	$	—	$	5,332,161		$	1,235,699	$	140,923	$	—	$	199,996		$	30,413,819	$	6,367,635	$	2,291,389		$	8,806,172		$	25,375		$	27,787	$	58,288	$	(252,374	)	$	54,646,871
Dividend Revenue		17,480,463		—			—		—		—		—			—		—		—			—			—			—		—		(17,480,463	)		—
Total Revenue		17,480,463		5,332,161			1,235,699		140,923		—		199,996			30,413,819		6,367,635		2,291,389			8,806,172			25,375			27,787		58,288		(17,732,837	)		54,646,871
Salaries		—		—			—		—		—		—			15		—		—			—			2,356,280			—		—		—			2,356,295
Depreciation		—		643,251			—		—		—		—			36,275		—		618,670			566,745			185,440			—		—		—			2,050,380
Employee Expenses		—		2,038			1,656		—		—		—			26,829		2,517		1,021			7,912			98,662			—		—		—			140,636
Letter Of Credit Fees		—		—			—		—		—		—			—		—		4,059			—			—			—		—		—			4,059
Office Supplies And Expenses		17		1,629			2,236		—		—		75			16,799		4,188		221			1,068			27,127			—		—		—			53,359
Payroll Fringes And Taxes		—		—			—		—		—		—			—		—		—			—			400,472			—		—		—			400,472
Rent Expense		—		—			—		—		—		—			—		—		—			—			299,230			—		—		—			299,230
Telephone Expense		—		960			1,879		—		—		—			13,397		10,163		15,532			2,601			16,406			—		—		—			60,937
Insurance Expense		—		13,608			7,275		—		—		3,876			124,640		19,132		143,239			17,880			91,013			—		—		—			420,663
Insurance Expense—Third Party		—		11,055			—		—		—		—			—		—		—			9,951			—			—		—		—			21,006
Advertising & Promotional		—		—			—		—		—		—			661		—		—			—			(1,186	)		—		—		—			(525	)
Dues & Memberships		—		66			—		—		—		197			59		317		—			—			8,075			310		450		—			9,474
Subscriptions & Publications		—		—			—		—		—		—			—		—		—			—			3,267			—		—		—			3,267
Postage		—		48			105		—		—		—			10,697		528		1,769			46			6,289			—		—		—			19,482
Contribution		—		—			—		—		—		—			100		500		—			—			8,340			—		—		—			8,940
Operating Lease		—		—			—		—		—		—			—		4,094,761		—			—			—			—		—		—			4,094,761
Miscellaneous Expense		—		—			—		—		—		15			123,409		—		16			190			9,304			—		50		—			132,984
DLC-A&G Charge		—		—			—		—		—		—			—		—		—			—			394			—		—		—			394
DQE Allocation		—		—			—		—		—		—			—		—		—			—			133			—		—		—			133
DQE Management Fee		—		—			—		—		—		—			—		—		—			—			147,000			—		—		—			147,000
Management Fee		—		439,130			138,819		—		—		(618,631	)		2,386,075		507,691		214,700			51,504			(3,802,295	)		—		—		—			(683,006	)
Outside Accounting Services		—		—			—		—		—		12,921			—		—		—			—			—			—		—		—			12,921
Outside Legal Services		—		—			2,440		—		—		3,158			19,942		—		7,364			10,771			7,067			—		6,269		—			57,012
Other Outside Services		—		1,296			5,180		—		—		204			169,953		10,021		1,752			3,296			107,769			—		197		—			299,667
State Capital Stock Tax		—		46,644			9,604		—		—		—			580		—		2,000			—			9,524			100		—		—			68,452
Pgh Business Privilege Tax		—		18,000			407		1		—		2			—		—		—			—			21,609			10,300		—		—			50,320
Operating Expenses		—		4,820,733			590,617		—		—		683,006			3,169,757		627,920		2,598,691			8,599,992			81			—		—		(111,451	)		20,979,348
Purchased Power		—		—			—		—		—		—			—		—		—			297,998			—			—		—		—			297,998
Total Operating Expenses		17		5,998,458			760,219		1		—		84,824			6,099,189		5,277,738		3,609,032			9,569,954			—			10,710		6,966		(111,451	)		31,305,658
Total Operating Income (Loss)		17,480,446		(666,296	)		475,480		140,922		—		115,172			24,314,630		1,089,897		(1,317,643	)		(763,782	)		25,375			17,077		51,322		(17,621,386	)		23,341,213
Interest Earned		317,333		—			—		77,535		—		—			—		—		—			—			—			—		—		(77,535	)		317,333
Other (Expense)/Income		—		—			58,500		—		—		1,314,063			771,618		168,535		—			—			—			—		—		—			2,312,716
Interest Expense		—		523,050			—		—		—		204,571			—		—		—			140,129			—			—		—		(77,535	)		790,213
Discount Expense		—		18,235			—		—		—		—			105,032		—		13,173			4,482			—			—		—		(140,923	)		—
Net Income Before Tax		17,797,779		(1,207,581	)		533,980		218,457		—		1,224,664			24,981,216		1,258,432		(1,330,816	)		(908,393	)		25,375			17,077		51,322		(17,480,463	)		25,181,048
Federal Income Taxes		111,060		(422,653	)		186,893		76,460		—		427,376			8,743,425		440,451		(465,786	)		—			8,881			3,953		16,213		—			9,126,274
State Income Taxes		—		—			—		—		—		3,591			—		—		—			—			—			5,782		5,000		—			14,373
FIT Expense-Sec 29		—		—			—		—		—		—			—		—		(1,057,522	)		—			—			—		—		—			(1,057,522	)
Net Income After Tax		$17,686,718		$(784,928)			$347,087		$141,997	$	—		$793,698			$16,237,790		$817,981	$	192,492			$(908,393)		$	16,494			$7,342		$30,109		$(17,480,463)			$17,097,923

Exhibit 99.3 (cont’d)

DQE Energy Services, LLC and Subsidiaries

Consolidating Balance Sheet

As of December 31, 2003

	DQEES			DH Energy			MT Energy		PI		SYNLLC		MT Detroit			DQE Synfuels			Defiance			Monmouth			DH Canada			SVSINC			OPSVC		SOS		Eliminations			DQE Energy Services Consolidated
ASSETS
Current Assets:
Accts Receivable-DQE	$	—		$	—		$	—	$	—	$	—	$	—		$	—		$	—		$	—		$	—		$	40,347		$	—	$	—	$	—		$	40,347
Accts Receivable-DQE Financial		—			—			—		—		—		—			—			—			—			—			89,126			—		—		—			89,126
Accts Receivable-Partners		—			—			—		—		—		—			—			—			—			—			102,666			—		—		—			102,666
Accts Receivable-Duquesne Power		—			—			—		—		—		—			—			—			—			—			37,632			—		—		—			37,632
Accts Receivable-Heinz		—			—			—		250,572		—		—			—			—			—			207,046			—			—		—		—			457,618
Accts Receivable-Spicer Energy		—			—			—		2,973,040		—		—			(104,109	)		—			—			—			—			—		—		—			2,868,930
Accts Receivable-Defiance		—			—			—		—		—		—			—			115,841			—			—			—			—		—		—			115,841
Accts Receivable-Iris Energy		—			—			—		899,370		—		—			(99,751	)		—			—			—			—			—		—		—			799,618
A/R Metro Energy		—			—			—		—		—		458,738			—			—			—			—			—			—		—		—			458,738
Accounts Receivable—GST		—			—			—		—		—		—			—			—			—			40,040			—			—		—		—			40,040
Accounts Reveivable—GPU		—			—			—		707,710		—		—			—			—			202,898			—			—			—		—		—			910,608
Accts Receivable-Other		21,547			—			—		—		—		—			1,362			—			—			—			915			—		—		—			23,824
Federal Tax Receivable—  Operating Services		3,953			—			—		—		—		—			—			—			—			—			—			—		—		(3,953	)		—
Federal Tax Receivable—  MT Detroit		427,376			—			—		—		—		—			—			—			—			—			—			—		—		(427,376	)		—
Federal Tax Rec.—Sec. 29		1,057,342			—			—		—		—		—			—			—			1,057,342			—			—			—		—		(1,057,342	)		1,057,342
Intercompany Due To/From		(1,546,768	)		(1,599,088	)		2,728,240		4,785,041		—		(72,536	)		(71,268	)		(406,205	)		(350,862	)		(3,576,568	)		52,163			6,169		51,682		—			—
Total Receivables		(36,550	)		(1,599,088	)		2,728,240		9,615,733		—		386,203			(273,767	)		(290,365	)		909,378			(3,329,483	)		322,849			6,169		51,682		(1,488,671	)		7,002,330
Cash		12,436,255			—			—		576,206		—		393,051			528,926			4,153,057			—			267,850			535,175			30,794		—		—			18,921,313
Prepaid Expenses		—			5,682			626		—		—		4,261			83,214			2,296			81,156			15,641			—			—		—		—			192,875
Total Current Assets		12,399,706			(1,593,406	)		2,728,865		10,191,939		—		783,515			338,373			3,864,988			990,534			(3,045,993	)		858,024			36,962		51,682		(1,488,671	)		26,116,518
Inventory		—			20,250			—		—		—		—			—			—			35,342			83,536			—			—		—		—			139,128
Office Furniture & Equipment		—			9,692			—		—		—		—			6,614			—			—			—			882,062			—		—		—			898,368
Acc Deprec-Off Furn & Equip		—			(6,173	)		—		—		—		—			(3,123	)		—			—			—			(645,700	)		—		—		—			(654,996	)
Plant, Property & Equip.		—			6,760,611			—		—		—		—			268,465			—			11,951,383			5,879,909			81,473			—		—		—			24,941,841
Accm.Deprec. PP&E		—			(1,879,515	)		—		—		—		—			(35,146	)		—			(2,260,613	)		(1,636,549	)		(35,162	)		—		—		—			(5,846,985	)
Predictive Overhall PP&E		—			1,031,841			—		—		—		—			—			—			541,796			1,331,376			—			—		—		—			2,905,014
Accum.Depre. Predict. Overhall		—			(314,873	)		—		—		—		—			—			—			(152,714	)		(308,167	)		—			—		—		—			(775,755	)
Project Development Costs		—			—			—		—		—		—			—			—			—			—			241			—		—		—			241
Total Fixed Assets		—			5,621,832			—		—		—		—			236,810			—			10,115,194			5,350,106			282,914			—		—		—			21,606,856
Investments		34,488,668			—			—		—		20,086,168		8,747,168			—			—			—			—			—			—		—		(54,574,836	)		8,747,168
Total Assets	$	46,888,373		$	4,028,427		$	2,728,865	$	10,191,939	$	20,086,168	$	9,530,683		$	575,183		$	3,864,988		$	11,105,728		$	2,304,113		$	1,140,938		$	36,962	$	51,682	$	(56,063,507	)	$	56,470,542

Exhibit 99.3 (cont’d)

DQE Energy Services, LLC and Subsidiaries

Consolidating Balance Sheet

As of December 31, 2003

	DQEES			DH Energy			MT Energy			PI		SYNLLC		MT Detroit		DQE Synfuels			Defiance			Monmouth			DH Canada			SVSINC		OPSVC		SOS		Eliminations			DQE Energy Services Consolidated
LIABILITIES & CAPITALIZATION
Current Liabilities:
Accounts Payable-DLC	$	76,176		$	—		$	—		$	—	$	—	$	—	$	—		$	—		$	—		$	—		$	56,183	$	—	$	—	$	—		$	132,359
Accounts Payable-DQE		83,031			—			129,945			—		—		—		—			—			—			—			—		—		—		—			212,975
Accounts Payable—Heinz		—			166,657			—			—		—		—		—			—			—			402,530			—		—		—		—			569,188
Accounts Payable-Others		—			330,261			882,264			—		—		22,589		469,218			75,317			174,333			92,804			933,365		—		—		—			2,980,151
Accounts Payable-Insurance		164,122			—			—			—		—		—		22,746			—			—			—			—		—		—		—			186,868
Notes Payable—Current		—			—			—			—		—		—		—			—			—			165,329			—		—		—		—			165,329
Payroll Withholdings		—			—			—			—		—		—		—			—			—			—			14,005		443		3,637		—			18,085
Payroll Withholdings-DLC		—			—			—			—		—		7,827		—			—			—			—			48,034		8,770		1,556		—			66,186
Accounts Payable-Payroll		—			—			27			—		—		—		—			—			—			—			62,658		—		221		—			62,907
Accts Payable-FIT Sec 29 Cr		1,057,342			—			—			—		—		—		—			—			—			—			—		—		—		(1,057,342	)		—
Accrued Rent		—			—			—			—		—		—		—			2,302,973			—			—			—		—		—		—			2,302,973
Advances		5,586,406			—			—			—		—		—		—			—			—			—			—		—		—		—			5,586,406
Prepaid Revenue		—			—			104,023			—		—		—		—			109,750			—			—			—		—		—		—			213,773
Federal Income Taxes Payable		14,006,214			—			—			—		—		427,376		—			—			—			—			—		3,953		—		(431,329	)		14,006,214
State Income Taxes Payable		—			—			1,536,582			—		—		3,591		635,715			35,605			33,781			—			—		—		—		—			2,245,274
Accrued Capital Stock Tax		28,324			47,789			133,757			—		—		—		11,500			—			—			—			—		—		—		—			221,369
Accrued Pgh Business Priv Tax		2,656			10,465			—			—		—		—		—			—			—			—			—		—		—		—			13,120
Total Current Liabilities		21,004,270			555,172			2,786,598			—		—		461,383		1,139,179			2,523,644			208,114			660,663			1,114,246		13,166		5,413		(1,488,671	)		28,983,177
Notes Payable—Long Term		—			—			—			—		—		—		—			—			—			2,020,593			—		—		—		—			2,020,593
Additional Paid In Capital		22,881,708			4,402,499			—			10,000,000		20,086,168		7,112,323		—			—			11,030,001			1,943,844			—		—		—		(54,574,836	)		22,881,708
Retained Earnings		91,711,750			355,684			90,210,379			49,942		—		1,163,280		3,895,245			1,198,544			4,515,603			(1,412,593	)		10,198		16,455		16,159		(99,847,430	)		91,883,215
YTD Net Income		17,686,718			(784,928	)		347,087			141,997		—		793,698		16,237,790			817,981			192,492			(908,393	)		16,494		7,342		30,109		(17,480,463	)		17,097,923
Dividends		(106,396,074	)		(500,000	)		(90,615,198	)		—		—		—		(20,697,032	)		(675,181	)		(4,840,482	)		—			—		—		—		117,327,893			(106,396,074	)
Total Shareholder Equity		25,884,103			3,473,255			(57,732	)		10,191,939		20,086,168		9,069,301		(563,996	)		1,341,343			10,897,614			(377,142	)		26,692		23,797		46,269		(54,574,836	)		25,466,773
Total Liabilities & Capitalization	$	46,888,373		$	4,028,427		$	2,728,865		$	10,191,939	$	20,086,168	$	9,530,683	$	575,183		$	3,864,988		$	11,105,728		$	2,304,113		$	1,140,938	$	36,962	$	51,682	$	(56,063,507	)	$	56,470,542