Central Vermont Public Service Corp
Central Vermont Public Service — Investor Presentation (September 2011)
19 slides from Central Vermont Public Service's investor presentation, Sep 8, 2011
Slide 1: Slide 1
Slide 2: Central Vermont Public Service Corporation Form 8-K
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) September 8, 2011 CENTRAL VERMONT PUBLIC SERVICE CORPORATION (Exact name of registr
Slide 3: Regulation FD Disclosure and Safe Harbor Statement
Item 7.01. Regulation FD Disclosure. This presentation will be conducted at individual meetings at various venues in New York City before an audience of electric industry analysts and industry professionals on September 8, 2011. Central Vermont Public Service Corporation Investor Update, New York Se
Slide 4: Corporate Credit Rating
Corporate Credit Rating Baa3/Stable First Mortgage Bonds Baa1 Preferred Stock Ba2
Slide 5: Common Stock Profile, Agenda and Merger Agreement
COMMON STOCK PROFILE (NYSE: CV) Quarter Ended June 30, 2011 Market Capitalization $485.2M Book Value $20.41 Market-to-Book 1.77 52-week Range $19.09-$36.36 Debt% - Equity% 45% - 55% Average Daily Volume 128,089 Shares Outstanding 13.422M Annualized Dividend Yield 2.54% AGENDA · Update on Acquisition
Slide 6: About Gaz Métro
About Gaz Métro · Quebec’s leading natural gas distributor · $3.6 billion in assets · 10,000 kilometer network serving 300 municipalities · Proven track record in Vermont − Vermont Gas Systems acquired in 1986 − Green Mountain Power Corporation acquired in 2007 Gaz Métro U.S. Operations Post-Acquisi
Slide 7: CVPS & GMP Buildings and Territory
Slide 8: Merger will benefit many stakeholders
Merger will benefit many stakeholders · Significant premium for investors · Significant savings for all customers − $144 million guaranteed over 10 years · Low-income customers to benefit from spin-off of 33% interest in VELCO ($8 million rate base) · Workforce reductions accomplished through normal
Slide 9: J.D. Power East Region Overall CSI
J.D. Power East Region Overall CSI Southern Maryland Electric 686 Central Maine Power 638 PPL Electric Utilities 636 Penn Power 636 Central Vermont Public Service 623 New York State Electric & Gas 621 Rochester Gas & Electric 620 Penelec 618 PECO Energy 617 NSTAR 617 WMECO 617 Met-Ed 615 Allegheny P
Slide 10: Irene’s wrath
Irene’s wrath Route 4 between Rutland and Killington A damaged pole and line in front of a washed out bridge
Slide 11: Rochester Substation was destroyed
Rochester Substation was destroyed
Slide 12: Vermont Marble, Readsboro purchases; CVPS SmartPower
Vermont Marble, Readsboro purchases · PSB approved Vermont Marble and Readsboro acquisitions − Closed the Readsboro purchase August 1, 2011, adding 320 customers − Closed the Vermont Marble purchase on Sept. 1, 2011, adding 900 customers ◦ Includes Omya calcium carbonate plant, which is now CVPS’s s
Slide 13: Vermont Yankee and Regulatory update
Vermont Yankee · Status of Vermont Yankee − Existing 175 MW VT Yankee contract expires March 21, 2012, at expiration of initial license term − NRC has granted Entergy a 20-year license extension; but the State of Vermont is opposed to continued operation of the plant − Entergy and Vermont are engage
Slide 14: Liquidity and Financing
Liquidity and Financing Cash Flows 2011 2010 Cash and cash equivalents at beginning of period $ 2,676 $ 2,069 Cash provided by operating activities 31,468 27,251 Cash used for investing activities (8,035) (12,333) Cash provided (used) by financing activities 233 (14,343) Cash and cash equivalents at
Slide 15: Actual and planned investments in Velco/VT Transco
CV Actual and planned investments in Velco/VT Transco ($millions) 2004 $7 2005 $0 2006 $23 2007 $53 2008 $3 2009 $21 2010 $22 2011 $0 2012 $21 2013 $0 2014 $23 2015 $19
Slide 16: Rate Base Growth and 2011 Earnings Guidance
Rate Base Growth (Dollars in Millions) Actual and Projected* 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Projected Rate Base $236 $236 $302 $344 $385 $426 $470 $507 $551 $578 $619 Projected CAGR of 7.75% from 2010 - 2015 net of Stimulus funding *Includes Velco investments and VT Marble ac
Slide 17: Jointly-Owned Plants
Jointly-Owned Plants (1) Millstone #3 (nuclear) 21.4 161,536 Wyman #4 (oil) 10.8 2,174 McNeil (various) 10.5 54,440
Slide 18: Signature
SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CENTRAL VERMONT PUBLIC SERVICE CORPORATION By /s/ Pamela J. Keefe Pamela J. Keefe Senior Vice President, C
Slide 19: Slide 19
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