Dominion Energy, Inc. · NYSE:D
Dominion Energy — Non-Deal Roadshow (January 2019)
18 slides from Dominion Energy's roadshow presentation, Jan 10, 2019
Slide 1: Investor meetings
Investor meetings January 2019
Slide 2: Important note to investors
Important note to investors This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding Dominion Energy and Dominion Energy Midstream Partners. The statements relate to, among other things, expectations, estimates
Slide 3: Dominion Energy: Premier regulated assets in premium geographies
Dominion Energy Premier regulated assets in premium geographies Southeast Gas Gas Merchant Operating VEPCO Energy Group Distribution Transmission generation² segments NY NC States of VA OH WY OH PA MD UT SC ID WV WV UT CO VA operation NC GA WY NC CA CT UT SC GA Power Delivery Group Net income 40%— 1
Slide 4: National regulated energy infrastructure footprint
Dominion Energy National regulated energy infrastructure footprint $82 $61 $54 $46 $43 NEE DUK D SO EXC Market cap1 ($B) 11 10 9 9 7 SRE PCG DUK SO D U.S. utility customers2 (M) Legend Electric utility service territory Gas utility service territory Utility electric generation Merchant electric gene
Slide 5: 2018 in review: Stock price headwinds
2018 in review: Stock price headwinds… Establishing a foundation for success in 2019 and beyond Relative performance (D vs. UTY) Relative performance (D vs. UTY) 2% In the month following 16% the FERC MLP policy Since then, D has made 0% revision, 14% up a portion of that D underperformed underperfo
Slide 6: 2018 in review: ...balanced by positive execution
2018 in review: …balanced by positive execution Establishing a foundation for success in 2019 and beyond Status Guidance Results Significant value to customers Significant value to customers SCANA merger Preserve transaction economics Complete in Q3¹ Preserved transaction economics Completed at ye
Slide 7: 2018 in review: D & SCG merger
2018 in review: D & SCG merger Establishing a foundation for success in 2019 and beyond Pro forma footprint (select assets) Strategic and financial rationale Year-over-year customer growth rate¹ DE electric utility Attractive DE Carolina Gas Trans. utility Gas customers 2.6%—3.0% Atlantic Coast Pipe
Slide 8: 2018 in review: Meaningful credit improvement
2018 in review: Meaningful credit improvement Establishing a foundation for success in 2019 and beyond Cash sources Benefits Moody’s CFO (pre-WC) / Debt Previous downgrade Negative outlooks threshold: 15% ~15% $3.0B ~$8B removed (S&P / Moody’s) 14% New Moody’s threshold 13% New S&P 12.1% threshold R
Slide 9: Business updates: Atlantic Coast Pipeline
Business updates Atlantic Coast Pipeline Project update Authorization Biological Opinion Forest Service crossing Issuing agency U.S. Fish and Wildlife Service U.S. Forest Service Impacted mileage ~600 miles ~21 miles Status Stayed December 7, 2018 Invalidated December 13, 2018 Impact Halted construc
Slide 10: Business updates: Millstone
Business updates Millstone Summary Date Status Legislation that supports Millstone’s participation in zero-carbon procurement passes CT legislature October 26, 2017 Legislation signed by CT Governor October 31, 2017 Millstone files for “at-risk” determination May 31, 2018 Millstone submits bid
Slide 11: Status of key GTSA-related VEPCO filings
Business updates Status of key GTSA-related VEPCO filings Summary Coastal Virginia Strategic Grid Utility solar Coal-ash off-shore wind undergrounding transformation Smart metering, Modifications to Undergrounding customer 2 turbine (12MW) existing coal-fired of electric information Regulated, utili
Slide 12: Dominion Energy growth profile
Dominion Energy growth profile Operating EPS guidance 6%—8% 5%+ CAGR ~10% YoY ~$3.95 —~$4.10 $3.65 Q4 guidance: Since EEI financial $0.80—$0.95¹ conference (Nov 2018): SCANA Thru Q3: Millstone $3.16 ACP work stoppage Pension expense² Recent headwinds bias expected results to lower-half of 6%
Slide 13: Upcoming IR activities
Upcoming IR activities What to expect Q4 earnings call Investor day Timeframe Early February Late March Business strategy 2018 earnings and drivers Operating segment updates 2019 earnings guidance and drivers Anticipated topics Multi-year capex guidance of discussion 2019 financing & cap
Slide 14: Appendix
Appendix
Slide 15: Programmatic capital investment
Programmatic capital investment Supportive of earnings growth through 2020 and beyond Power Delivery Power Generation Gas Infrastructure Customer demand and The Grid Transformation and Security Act (GTSA) calls for the regulatory support for growth growth capital investment to deliver the affordable
Slide 16: Committed to ESG excellence
Dominion Energy Committed to ESG excellence Dominion Energy ESG Enhanced disclosures Status by the numbers Dedicated ESG Dominion Energy One Sustainability and Corporate Online and Board Committee Responsibility Report available now Reduction in carbon 60% intensity by 2030 EEI & AGA ESG/Sustain
Slide 17: Dominion Energy Midstream Partners (DM): Distribution and merger update
Dominion Energy Midstream Partners (DM) Distribution and merger update – Distributions • January 2, 2019: Board declared 4Q 2018 cash distribution of $0.3690 per unit Final distribution prior to merger completion Payable on Jan. 31, 2019, to unitholders of record at the close of business Jan. 14
Slide 18: Contact information
Dominion Energy Contact information Website Email dominionenergy.com/investors [email protected] dominionenergymidstream.com/investors [email protected] Investor Relations team Steven Ridge (804) 929-6865 [email protected] Paul Adams Sarah Scott