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Q3 2012 Earnings Call – Dominion Resources, Inc.

Dominion Resources, Inc. · Oct 25, 2012 · 14 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q3 2012 Earnings Call – Dominion Resources, Inc. – slide 1
    3rd Quarter 2012 Earnings Call October 25, 2012
  2. Q3 2012 Earnings Call – Dominion Resources, Inc. – slide 2
    3Q12 Operating Earnings Summary 1 1.00 3rd Quarter Drivers 0.92 Storm-related outage at 0.90 Hastings processing plant Unplanned outage at Millstone Unit 2 Principal Exclusions from Operating EPS Kewaunee impairment Brayton…
  3. Q3 2012 Earnings Call – Dominion Resources, Inc. – slide 3
    3Q12 Weather 3Q12 weather impact milder than expected due to late June derecho storm and low humidity Majority of above-normal Cooling Degree Days occurred during the first week of July During this time, up to 1 million customers…
  4. Q3 2012 Earnings Call – Dominion Resources, Inc. – slide 4
    Operating EBIT 3Q12 guidance versus actual (in millions) Guidance Actual Drivers Dominion Lower storm costs 235-260 242 Virginia Power Dominion Retail Unplanned Hastings outage Dominion 190-215 178 Energy Producer Services…
  5. Q3 2012 Earnings Call – Dominion Resources, Inc. – slide 5
    Financing Debt DRI recently issued 1.05 billion of 5, 10, and 30-year notes Locked in Treasury rates for a significant amount of anticipated 2013 debt needs and portion of 2014 debt needs Equity Anticipate 320 million of equity…
  6. Q3 2012 Earnings Call – Dominion Resources, Inc. – slide 6
    4Q12 Operating Earnings Guidance 0.65 to 0.75 th Quarter Drivers 4th4Quarter Drivers Return to normal weather .08 hurt in 4Q11 0.58 Gas transmission growth Regulated electric sales and riders Merchant generation margins 1…
  7. Q3 2012 Earnings Call – Dominion Resources, Inc. – slide 7
    Operating Earnings Growth Weather normalized year to date (YTD) Mild weather has reduced YTD weather normalized earnings by 96 million operating EPS growth compared to normal YTD +5% 2011 2012 2.53 1Q EPS 0.93 0.85 2.40 2Q EPS…
  8. Q3 2012 Earnings Call – Dominion Resources, Inc. – slide 8
    2013 Operating Earnings Guidance 3.50 3.35 0.75 0.17 3.20 0.65 2012 3.10 3.05 Weather 4Q12 Guidance 2.36 Range Middle of 2013 guidance is 5-6% above middle of 2012 guidance 3Q12 YTD 2012* 2013* Operating Earnings Per…
  9. Q3 2012 Earnings Call – Dominion Resources, Inc. – slide 9
    Hedged Power Update Millstone Hedge 2013 2014 2015 Position 80% 40% 24% 58.72 49.09 49.73 47.97 45.54 /MWH 45.12 45.45 35.57 2012 2013 2014 2015 NEPOOL Baseload Avg. Hedge Price NEPOOL ATC Power Price 2013…
  10. Q3 2012 Earnings Call – Dominion Resources, Inc. – slide 10
    Financial Review 3Q12 operating earnings below midpoint of range Driven by unplanned outages at Hastings processing plant and Millstone power station Operating earnings guidance* 4th quarter 2012 range of 0.65 to 0.75 per share…
  11. Q3 2012 Earnings Call – Dominion Resources, Inc. – slide 11
    Dominion Generation Kewaunee Nuclear Power Station Announced decision to decommission Virginia City Hybrid Energy Center 1.8 billion project on-time, on-budget Warren County Scheduled for completion in late 2014 Brunswick County…
  12. Q3 2012 Earnings Call – Dominion Resources, Inc. – slide 12
    Dominion Energy Continuing progress on growth plan Appalachian Gateway In-service September 1; on-time, below-budget Northeast Expansion & Ellisburg to Craigs Expected in-service next week; on-time, on budget Natrium Phase I…
  13. Q3 2012 Earnings Call – Dominion Resources, Inc. – slide 13
    Virginia Power Economic growth driving results Growth in 3Q12 YTD weather adjusted sales growth of 1.5% New connects well above last years level VA Regulatory Update NC North Carolina base rate case 2.5 million customers in VA &…
  14. Q3 2012 Earnings Call – Dominion Resources, Inc. – slide 14
    Visit our website at www.dom.com/investors.

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