Eversource Energy (d/b/a) · NYSE:ES
Eversource Energy (d/b/a) — Northeast Utilities — AGA Financial Forum 2007
23 slides from Eversource Energy (d/b/a)'s conference presentation, Apr 27, 2007
Slide 1: AGA Financial Forum, Orlando, April 30, 2007
AGA Financial Forum Orlando April 30, 2007 Energy / Growth / Leadership Exhibit 99
Slide 2: Safe Harbor Provisions
Safe Harbor Provisions This presentation contains statements concerning NU’s expectations, plans, objectives, future financial performance and other statements that are not historical facts. These statements are “forward-looking statements” within the meaning of the Private Securities Litigation Ref
Slide 3: Agenda for Today
Agenda for Today First quarter 2007 results 2007 guidance Regulated investment strategy Rate cases Legislative update
Slide 4: 1Q 2007 Results
$41.9 $12.7 -$62.6 -$10.1 $48.2 $15.9 $6.2 $4.8 $75.1 -$2.1 ($80.0) ($60.0) ($40.0) ($20.0) $0.0 $20.0 $40.0 $60.0 $80.0 $100.0 1Q 2006 1Q 2007 2007 Results Distribution and Regulated Generation Transmission Parent/Other Competitive Total
Slide 5: Distribution/Regulated Generation Results
$23.4 $2.5 $11.8 $20.6 $8.1 $5.9 $13.6 $4.2 $0.0 $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 Distribution/Regulated Generation Results CL&P PSNH WMECO Yankee Gas
Slide 6: 2007 Guidance
2007 Guidance Primary Drivers 2006 Actual 2007 Guidance In 2007 Distribution/Regulated Generation $0.75* $0.80 - $0.90 PSNH, Yankee Gas, WMECO rate case resolution, retail sales Transmission $0.39 $0.50 - $0.60 Increased investment Parent & Other Affiliates $0.02 $0.00 - $0.05 Cash from generation s
Slide 7: 2007-2011 Projected Capital Expenditures
2007-2011 Projected Capital Expenditures $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 Distribution Capex Transmission Capex 2006 Actual $908* $779* $874* $1,183* $1,126* $880* *Excludes approximately $18 million per year at corporate service companies
Slide 8: Northeast Utilities System
SUDA, § ast Utilities System
Slide 9: Slide 9
Slide 10: Projected Distribution and Regulated Generation Year-End Rate Base
$1,765 $1,964 $2,083 $2,220 $2,359 $2,466 $868 $974 $1,092 $1,153 $1,225 $1,293 $340 $367 $388 $406 $422 $436 $493 $646 $655 $656 $669 $679 Projected Distribution & Generation Rate Base CAGR of 7% Projected Distribution and Regulated Generation Year-End Rate Base $0 $500 $1,000 $1,500 $2,000 $2,500
Slide 11: Major Distribution/Regulated Generation Projects
Major Distribution/Regulated Generation Projects Yankee Gas’s 1.2 Bcf liquid natural gas production facility in Waterbury, CT $108 million cost More than 91 percent complete LNG expected to be injected in June Scheduled to be in service for 2007- 2008 heating season Will enhance reliability, help in
Slide 12: Growing Transmission Business
Growing Transmission Business 59.8 41.1 28.2 Net income (1.2) (1.4) (1.3) Preferred dividends 6.8 6.6 1.9 Other income, net (16.4) (12.5) (8.9) Income tax expense (22.0) (14.4) (12.0) Interest, net 92.6 62.8 48.5 Operating income (93.6) (80.7) (70.6) Other operating (29.8) (24.0) (21.6) D&A $216.0 $
Slide 13: $ Millions
§ Millions all Northeast ais Utilides System ~~
Slide 14: Northeast Utilities System
= ast = Gig © Utilities System.
Slide 15: Slide 15
Slide 16: Projected Transmission Year-End Rate Base
$840 $2,117 $2,218 $2,461 $140 $175 $276 $282 $335 $325 $1,512 $1,173 Transmission Rate Base 2006-2011 CAGR of 23% * * * Projected Transmission Year-End Rate Base $75 $80 $132 $173 $208 $239 $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 CL&P PSNH WMECO *Reflects FERC approved 50% CWIP for southw
Slide 17: Northeast Utilities System
sw, = ~~ Northeast Zi Villties System
Slide 18: Springfield 115-kV Projects
Springfield 115-kV Projects
Slide 19: Preferred Routes For NEEWS Have Been Selected
Preferred Routes For NEEWS Have Been Selected The four 345-kV components, identified to date, are:
Slide 20: Ability To Finance Growth
$3,268 $116 $2,817 Ability To Finance Growth Total Debt Preferred Stock Common Equity 3/31/07 Strong balance sheet Strong cash and liquidity position Strong access to capital Approximately $450 million of NU parent cash available for investment in utilities $1 billion unused bank, accounts receivabl
Slide 21: Rate Case Update: Transmission, PSNH, Yankee Gas
Transmission PSNH Yankee Gas Rate Case Update • Tariffs forward-looking and adjusted every 6 months with trueups • All 3 distribution companies have transmission trackers (assuming PSNH settlement approval) • FERC set going-forward New England ROE at 10.94% plus 0.50% for joining an RTO and 1.0% for
Slide 22: Legislative Update
Legislative Update Connecticut 2005: Energy Independence Act Grants/loans for customer-side generation $200/kw one-time incentives to host utilities 15-year capacity-only conventional generation contracts with utilities $25/kw one-time incentives to utilities Winning bids announced April 23; final c
Slide 23: NU's Transformation Producing Solid Results, Prospects
NU’s Transformation Producing Solid Results, Prospects Financial performance consistent with projections Transmission business is growing rapidly to meet customer needs Distribution results improving as reasonable rate case outcomes are implemented Additional infrastructure needs being identified Fi