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Q2 2012 Earnings Call – Dominion Resources, Inc.

Dominion Resources, Inc. · Aug 1, 2012 · 13 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. Q2 2012 Earnings Call – Dominion Resources, Inc. – slide 1
    2nd Quarter 2012 Earnings Call Tom Farrell, Chairman, President & CEO Mark McGettrick, Executive VP & CFO August 1, 2012
  2. Q2 2012 Earnings Call – Dominion Resources, Inc. – slide 2
    Earnings Summary Results near midpoint of guidance range 2Q11 Operating EPS 1 0.59 2Q 2011 2Q 2012 O&M expense/Outages 0.07 0.59 Dominion Retail 0.05 0.58 0.59 Weather ( 2Q11 +.01, 2Q12 -.05) (0.06) 0.45 Merchant generation…
  3. Q2 2012 Earnings Call – Dominion Resources, Inc. – slide 3
    Operating EBIT 2Q12 guidance versus actual (in millions) Guidance Actual Drivers Dominion Dominion Retail 230-260 282 Virginia Power Weather O&M expense Dominion 175-200 186 Energy Producer Services margins O&M expense…
  4. Q2 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 most of…
  5. Q2 2012 Earnings Call – Dominion Resources, Inc. – slide 5
    Operating Earnings Guidance* 3rd Quarter Drivers 0.90 to 1.00 Regulated electric sales & riders O&M expense 0.95 Return to normal weather (+.06 3Q11) Merchant generation margins 2012 Full Year Guidance Remains 3.10 to 3.35 per…
  6. Q2 2012 Earnings Call – Dominion Resources, Inc. – slide 6
    Operating Earnings Growth Weather normalized year to date (YTD) Mild weather has reduced YTD weather normalized earnings by 92 million operating EPS growth compared to normal YTD 6% 2011 2012 1.60 1Q EPS 0.93 0.85 1.51 2Q EPS…
  7. Q2 2012 Earnings Call – Dominion Resources, Inc. – slide 7
    Hedged Power Update Reducing sensitivity to commodity prices As of As of Average Hedge Increase 4/26/2012 8/1/2012 Price* Millstone 80% 80% - 2013 50.09 Brayton Point Coal 8% 13% 5% Millstone 40% 40% - 2014 49.73 Brayton Point…
  8. Q2 2012 Earnings Call – Dominion Resources, Inc. – slide 8
    NEPOOL Baseload Hedging to protect against declining prices 58.72 54.44 49.33 50.09 49.73 48.82 /MWH 43.22 42.04 41.02 34.88 2011 2012 2013 2014 2015 NEPOOL Baseload - Average Hedge Price NEPOOL RTC Power Price…
  9. Q2 2012 Earnings Call – Dominion Resources, Inc. – slide 9
    Financial Review 2Q12 earnings reduced by mild weather 0.05 per share compared to normal Reduced O&M expenses Successfully offset incremental headwinds to merchant generation margins Operating earnings guidance* 3rd quarter…
  10. Q2 2012 Earnings Call – Dominion Resources, Inc. – slide 10
    Dominion Generation Continuing progress on growth plan Virginia City Hybrid Energy Center 585 MW plant began operations July 10 1.8 billion project on-time, on-budget Warren County Scheduled for completion in late 2014 Brunswick…
  11. Q2 2012 Earnings Call – Dominion Resources, Inc. – slide 11
    Dominion Energy Continuing progress on growth plan Appalachian Gateway September completion Cove Point Liquefaction FEED studies under way FERC Began FERC pre-filing process for environmental review in June 2012 Expect…
  12. Q2 2012 Earnings Call – Dominion Resources, Inc. – slide 12
    Virginia Power Economic growth driving results Growth in 2Q12 Weather adjusted sales growth of 1.0% VA New connects well above last years level NC Regulatory Update 2.4 million customers in VA & NC Requested base rate increase…
  13. Q2 2012 Earnings Call – Dominion Resources, Inc. – slide 13
    Visit our website at www.dom.com/investors.

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