Dominion Resources, Inc. April 28, 2011 Visit us online at: www.dom.com/investors Dominions common stock trades under ticker D:NYSE
Table of Contents 1Q11 Earnings Summary 1Q11 Business Unit EBIT Overview Cash Flow/Financing Activities p g Earnings 2011 Operating g Guidance 2Q11 Earnings Guidance and Drivers Hedge Update 1Q11 Financial Recap Growth Strategy…
1Q11 Earnings Summary 1Q11 Operating Earnings: 0.93 per share Guidance Range: 0.85 to 0.95 per share 1Q11 Reported Earnings*: 0.82 per share Primary items excluded from Operating Earnings* Remaining book value of State Line power…
1Q11 Business Unit EBIT* Overview (EBIT in millions) Dominion Virginia Power 290 Actual A t l vs. EBIT G Guidance id R Range off 250 tto 285 Dominion Energy 291 Actual vs. EBIT Guidance Range of 280 to 305 Dominion…
Cash Flow/Financing Activities Debt Issued 900 million of debt at Dominion 500 million 10-year at an effective interest rate of 4.48% 400 million 3-year at an effective cost of 1.82% S Swapped d tto floating fl ti att LIBOR…
Bonus Depreciation Bonus depreciation cash benefit of approximately 2 0 billi 2.0 billion Offset earnings impact through common stock repurchase in 2011 Repurchase range is now 600 to 700 million for the year Repurchased 6…
2011 Operating Earnings Guidance 2011 operating earnings guidance Unchanged at 3.00 - 3.30 per share* Continue to expect annual earnings growth of 5- 6% beginning in 2012 *Please refer to page 19 of this presentation for GAAP…
2Q11 Earnings Drivers vs. 2Q10* (2Q11 Operating Earnings Guidance: 0.50- 0.50-0.60 per share**) share ) Favorable Drivers Unfavorable Drivers Lower L share h countt Higher Hi h iinterest t t expense Higher rider revenues Absence…
Hedge Update Power Percentage Hedged Description 1/28/11 4/28/11* Increase 2011 Millstone 90% 91% 1% Dominion New England Coal (Power) 50% 62% 12% 2012 Millstone 70% 70% -- Dominion New England Coal (Power) 0% 0% -- 2013 Millstone…
1Q11 Financial Recap Earnings exceeded the midpoint of our guidance range Business units operating results either met or exceeded our guidance Debt financing needs nearly half completed for year at attractive interest rates Bonus…
Growth Strategy Overview Significant progress being made in regulated li lines off b business i Support goal of earnings per share growth of 5 to 6% beginning 2012 Minimum 65% to 75% of earnings g derived from regulated g…
Select Generation Growth Projects Current Projects j Update p Bear Garden Generating Station Complete; Undergoing final testing 84% complete; On plan for commercial Virginia City Hybrid Energy Center operation by summer 2012 New…
Select Transmission Growth Projects Current Projects j Update p Meadow Brook to Loudon Transmission Line In service April 2011 Carson to Suffolk Transmission Line Expected to be energized in June New Projects Update Work on…
Select Energy Growth Projects Current Projects j Update p Cove Point Pier Expansion In service January 2011 Construction to begin summer 2011 pending Appalachian Gateway regulatory approvals; Expected to be in service 3Q 2012…
1Q11 Operational Performance Fossil & Hydro and Nuclear business units operated without an OSHA recordable incident Nuclear fleet achieved a net capacity factor of 99.3% ( (excluding l di refueling f li outages) t ) Achieved…
Regulatory Update Filed first Biennial Review under Virginias re-regulation statute on March 31 Filing indicates our earnings were within the 100 basis-point range of 11.4% to 12.4% Va SCC must issue an order by the end of…
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