2013 EEI Financial Conference November 10-12, 2013
Executing the Growth Plan Dominion Generation Warren County 60% complete; expect in service late 2014 Brunswick County construction underway; expect in service mid 2016 Dominion Virginia Power Placed 108 million of assets in to…
Executing the Growth Plan Dominion Energy (continued) Western Access and Producer Outlet Projects Transportation projects that will move Utica and Marcellus Shale gas for customers Blue Racer Midstream Natrium II and Berne…
Todays Agenda Operating Earnings Dominion Growth Plan Gas Infrastructure Financing Investment Consideration Please refer to page 2 for risks and uncertainties related to projections and forward looking statements. 5
4Q13 Operating Earnings Guidance Expected strong 4th quarter provides year-over-year growth 0.95 Absence of Producer Core Services 0.85 Reduced growth offset by O&M expiration of Millstone Absence of tax 0.69 Millstone…
Hedged Power Update Millstone Hedge 2013 2014 2015 Position 100% 83% 71% 54.38 51.84 52.95 51.29 50.78 47.97 49.01 +3% vs. +5% vs. 2014 /MWH 2013 36.06 2012 2013 2014 2015 NEPOOL Baseload Avg. Hedge Price NEPOOL…
Growth Plan Update 8
Updated Plan September 2013 Planned growth capital (billions) 15.8 - 16.2 billion Diverse plan with growth across all business units 3.4 - 3.8 Average annual spend of 2.6 billion 2.4 2.3 1.8 4.6 4.1 1.4 3.2 1.0 2.5 1.9…
Utility Generation 2013 2018 2013 2014 2015 2016 2017 2018 Uprates 4.6 billion planned growth Biomass Conversions capex 2013-2018 Bremo Conversion Brunswick County Warren County Brunswick County Future CC Commercial…
Electric Transmission Potential Additional Capex Critical Substation Security Potential additional capex of 300 - 500m over next 5-10 years Security requirements include: 2 levels of perimeter security and anti-climb PJM Service…
Dominion Energy 2013 2018 2013 2014 2015 2016 2017 2018 Natrium Phase I Ethane Project Tioga Area Expansion 5.8 6.2 billion planned growth capex Allegheny Storage 2013-2018 BP Project Western Access Producer Outlet Projects…
New Pipeline Projects Western Access Transport residue gas from 3rd party processing to interstate New Market Project pipelines Estimated investment: 90m Firm transport from Leidy, PA to multiple delivery points to serve Volume:…
Marcellus Farmout Initiative Had previously announced initiative to farmout 100,000 Marcellus Shale acres under storage fields Reached agreement with multiple counterparties; drilling to commence next year Anticipate farmout…
Blue Racer Midstream Growth Plan Update Utica development update Blue Racer Area of Operations Utica Wells Jul 2013 Oct 2013 % Increase Permitted 789 953 +21% Drilled 387 597 +54% Producing 113 169 +50% Source: Ohio Department of…
Marcellus and Utica Shale Production Forecast 20 Future pipeline Utica production* 15 takeaway BCF Per Day opportunities 10 3 Bcf/d of potential reallocation of current pipelines*** 7.5 Bcf/d of incremental firm pipeline…
Growth Plan Summary Forward progress on long-term plan Regulated infrastructure investment plan in place to support future earnings growth Track record of successful execution 2013 2018 plan of nearly 3 billion per year growth…
Gas Infrastructure Financing 19
Regulated Gas Financing Plan Dominion Gas Holdings, LLC is now parent of: Dominion Transmission, Inc. Dominion East Ohio Iroquois Pipeline (Dominions interest) Hope Gas (potentially) Provides greater visibility of the capital…
Current Financing Structure DRI Va. Power Dominion Gas Merchant Cove Point Generation Utility Dominion Transmission Blue Racer Generation Dominion Electric East Ohio Transmission Dominion Hope* Electric Distribution…
Planned Dominion Structure Have announced intention to form MLP Plan to use expected cash flows from Cove Point import and export and Blue Racer Midstream Will likely file S-1 during 1Q14 and target coming to market around mid…
Planned Dominion Structure DRI 2014 Va. Power Dominion Gas MLP Dominion Up to 1 Cove Point Merchant Hope* Generation billion of Dominion EBITDA East Ohio* Blue Racer** Additional Dominion Transmission 1 billion of eligible…
Cove Point LNG Export and Va. Regulatory Update 24
Cove Point LNG Export Key Milestones Key Milestones Date Status DOE Export to FTA Countries October 2011 Approved FERC Pre-Filing June 2012 Completed Ruling in favor of Dominion; Declaratory Judgment with Sierra Club January…
Biennial Review Update Procedural Schedule Intervenor testimony filed in July Staff testimony filed in August Staff and Intervenors did not oppose company position that Va. Powers base rates are not subject to downward revision…
Investment Consideration 27
Growth in Dividends 2.25 Target 2.11 payout of 1.97 1.83 65-70% of operating Dividend earnings Per Share 2010 2011 2012 2013* 2014 and beyond * All dividend declarations are subject to Board of Directors approval. Please…
Summary 16 billion regulated infrastructure investment plan in place to support 5 - 6% earnings per share growth and annual dividend growth Blue Racer continues to execute on gathering & processing opportunities in the Utica shale…
Appendix 30
Dominion Profile Operating Segments Overview Dominion Virginia Power Dominion Energy Dominion Generation Electric Transmission Gas Transmission Utility Generation 6,400 miles of transmission lines Together with Gas Distribution,…
Dominion Profile Power and Natural Gas Infrastructure Leading provider of energy and energy services in the Midwest, Northeast and Mid-Atlantic regions of the U.S 23,500 MW of electric generation 6,400 miles of electric…
GAAP Reconciliation 2012 Earnings Earnings Per Share (diluted) Reconciliation of measures prepared in accordance with Generally Accepted Accounting Principles (GAAP) versus non-GAAP measures The net effects of the following items, all…
GAAP Reconciliation 2013 Earnings Earnings Per Share (diluted) Reconciliation of measures prepared in accordance with Generally Accepted Accounting Principles (GAAP) versus non-GAAP measures The net effects of the following items, all…
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