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Q1 2012 Earnings Call – Dominion Resources, Inc.

Dominion Resources, Inc. · Apr 26, 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. Q1 2012 Earnings Call – Dominion Resources, Inc. – slide 1
    1st Quarter 2012 Earnings Call Tom Farrell, Chairman, President & CEO Mark McGettrick, Executive VP & CFO April 26, 2012
  2. Q1 2012 Earnings Call – Dominion Resources, Inc. – slide 2
    Earnings Summary Unfavorable weather in 1Q12 1Q 2011 1Q 2012 1Q11 Operating EPS 0.93 0.93 0.85 0.82 0.86 Regulated electric sales & Riders1 0.06 O&M expense 0.04 Dominion Retail 0.03 Share accretion 0.01 Weather (0.11)…
  3. Q1 2012 Earnings Call – Dominion Resources, Inc. – slide 3
    Operating EBIT 1Q12 guidance versus actual (in millions) Guidance Actual Drivers Dominion Retail Dominion O&M expense 285-320 324 Virginia Power Weather O&M expense & fuel costs Dominion Producer Services margins 265-300 256…
  4. Q1 2012 Earnings Call – Dominion Resources, Inc. – slide 4
    Financing Debt Planned remaining 2012 issuances of 1.6 - 2.0 billion Evenly split between Dominion and VEPCO Includes 1.5 billion in maturing debt Locked in Treasury rates with hedges Locked in Treasury rates for 50% of 2013 debt…
  5. Q1 2012 Earnings Call – Dominion Resources, Inc. – slide 5
    Operating Earnings Guidance* 0.65 2nd Quarter Drivers Regulated electric sales & riders 0.59 0.55 O&M expense Merchant generation margins 2012 Full Year Guidance Remains 3.10 to 3.35 per share 2Q11 2Q12 EPS EPS Guidance *See…
  6. Q1 2012 Earnings Call – Dominion Resources, Inc. – slide 6
    Hedged Power Update Reducing sensitivity to commodity prices As of As of Average Hedge Increase 1/27/2012 4/26/2012 Price** Millstone 80% 95% 15% 2012* 49.33 Dominion New England Coal 22% 35% 13% Millstone 59% 80% 21% 2013 49.93…
  7. Q1 2012 Earnings Call – Dominion Resources, Inc. – slide 7
    NEPOOL Baseload Hedging to protect against declining prices 58.72 54.44 49.33 49.93 49.73 48.82 /MWH 42.12 40.44 38.55 30.92 2011 2012 2013 2014 2015 NEPOOL Baseload - Average Hedge Price NEPOOL RTC Power…
  8. Q1 2012 Earnings Call – Dominion Resources, Inc. – slide 8
    Financial Review Remain well positioned to meet growth targets 1Q12 earnings reduced by mild weather 0.11 per share compared to normal Reduced O&M expenses Successfully offset incremental headwinds to merchant generation…
  9. Q1 2012 Earnings Call – Dominion Resources, Inc. – slide 9
    Dominion Generation Continuing progress on growth plan Virginia City Hybrid Energy Center 98% complete and on schedule for completion First synchronized to grid in 1Q12 Warren County CPCN and Rider approved by VaSCC in 1Q12…
  10. Q1 2012 Earnings Call – Dominion Resources, Inc. – slide 10
    Dominion Virginia Power Continuing progress on growth plan Mt Storm to Doubs Rebuild of 500kV line continues Expected completion date advanced to end of 2014 Dooms to Sherwood Rebuild of 115kV to 230kV line Approved by VaSCC in…
  11. Q1 2012 Earnings Call – Dominion Resources, Inc. – slide 11
    Dominion Energy Continuing progress on growth plan Appalachian Gateway Construction ongoing On schedule for September completion Northeast Expansion Project Construction began 1Q12 Expected completion in November Natrium…
  12. Q1 2012 Earnings Call – Dominion Resources, Inc. – slide 12
    Dominion Cove Point LNG Liquefaction Project Signed binding precedent agreements with two companies Planned project capacity is fully subscribed Continuing to negotiate binding terminal service agreements and expect to complete…
  13. Q1 2012 Earnings Call – Dominion Resources, Inc. – slide 13
    Virginia Power Economic growth driving results Growth in 1Q12 Continuing improvement in VA unemployment rate 5.6%, well below national average of 8.2% New connects up 13% vs.1Q11 Estimate year-over-year increase of more than 10%…
  14. Q1 2012 Earnings Call – Dominion Resources, Inc. – slide 14
    Visit our website at www.dom.com/investors.

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