PRICING SUPPLEMENT NO. 48 DATED Filed Pursuant to MARCH 15, 2001 TO PROSPECTUS DATED Rule 424(b)(5) NOVEMBER 9, 2000, AS AMENDED BY PROSPECTUS File No. 333-47464 SUPPLEMENT DATED DECEMBER 15, 2000 CMS ENERGY CORPORATION General Term Notes (servicemark of J.W. Korth & Company), Series F Due 9 Months to 25 Years from date of issue Except as set forth herein, the Notes offered hereby have such terms as are described in the accompanying Prospectus dated November 9, 2000, as amended by the Additional Agent Prospectus Supplements dated December 15, 2000. Aggregate Principal Amount: $ 5,045,000.00 Original Issue Date (Settlement Date): March 20, 2001 Stated Maturity Date: March 15, 2008 Issue Price to Public: 100.00% of Principal Amount Interest Rate: 8.000% Per Annum Interest Payment Dates: April 15 and Monthly Thereafter Commencing April 15, 2001 Survivor's Option: [ X ] Yes [ ] No Optional Redemption: [ X ] Yes [ ] No Initial Redemption Date: March 15, 2003 Redemption Price: Initially 101% of Principal Amount and 100% after the first anniversary of the Initial Redemption Date. Principal Amount of Notes Agent Solicited by Each Agent First of Michigan Corporation $ 590,000.00 Prudential Securities Incorporated $ 1,617,000.00 J.J.B. Hilliard, W.L. Lyons, Inc $ 1,272,000.00 Raymond James & Associates, Inc $ 782,000.00 J.W. Korth & Company $ 784,000.00 Total $ 5,045,000.00 Per Note Sold by Agents To Public Total Issue Price: $ 1,000.00 $ 5,045,000.00 Agent's Discount or Commission: $ 7.00 $ 35,315.00 Maximum Dealer's Discount or Selling Concession: $ 21.00 $ 105,945.00 Proceeds to the Company: $ 972.00 $ 4,903,740.00 CUSIP Number: 12589SBA9