2013 NBF Energy Income Conference September 4, 2013
Forward-looking information This presentation contains forward-looking statements. When used in this presentation the words may, would, could, will, intend, plan, anticipate, believe, seek, propose, estimate, expect, and similar…
Were a leading energy infrastructure company Strategically diversified across North America Enterprise Value: 7.7 billion* Gas processing touching over 2 Bcf/d 1,372 MW of Power generation in five fuel types 5 Utilities serving over…
Our Strategy Capitalize on opportunities created by the renaissance of natural gas and clean energy demand through each of our business segments Diverse business segments; diverse markets Long-life assets Gas Stable and predictable…
We are executing our strategy Added over 4 billion in new assets over the last five years 2010 2011 2012 2013 2014 2015 2010 2011 2012 2013 2014 2015 PNG SEMCO Blythe Cold Lake McLymont Gordondale Forrest Kerr Volcano Blair Creek…
Gas Liquids-rich. Long-term. Contracted. Operating Margin* Gas processing: Unhedged 15% Touching over 2 Bcf/d Hedged Take-or-Pay 14% 33% Processing capacity: Fee for Service 38% 2/3 serving liquids-rich areas Growth: . -LNG…
Strategically located in key liquids-rich gas plays 8.00 Canadian natural gas plays profit/loss 7.00 6.00 5.00 4.00 C/Mcf 3.00 2.00 1.00 0.00 Glauconite Hz. Cardium Hz. Montney at Duvernay Hz. Wilrich at Montney at…
Cold Lake natural gas transmission system expansion Announced in August 2013 Used for steam generation of two SAGD heavy oil projects Underpinned by long-term take-or-pay agreements Total cost: 17 million In-service: Late…
Power Diverse. Dynamic. Renewable. Fuel Type by MW Power generation: 1,372 MW Coal Gas 353 MW 579 MW 5 fuel types: wind, hydro, Hydro** 288 MW biomass, gas and coal Wind 117 Biomass MW 35 MW Growth: -Cogen III -Forrest Kerr…
Cogen III Delivering organic growth Provides strong 15 MW expansion at Harmattan facility for a total of 45 MW returns and capitalizes on Meeting the increased power demand synergies at the at Harmattan Harmattan Potential to…
Completing Forrest Kerr ahead of schedule and on budget Mechanically complete by Powerhouse end of 2013 195 MW capacity 60-year fully indexed EPA with BC Hydro Capital cost estimate: Northwest Transmission Lines 725 million 100…
Strong capacity factor of 55 to 60 percent Forrest Kerr - Predictable, sustainable hydrology 900 800 700 600 Discharge (m/s) Water flow used for generation 500 400 300 200 Design discharge of 252 m/s 100…
Forrest Kerr Power Tunnel Aug. 25 Delivery of Stators Aug. 15 Intake Aug. 25 12
Construction ahead of schedule and on budget McLymont Creek and McLymont Tunnel Volcano Creek 82 MW capacity 60-year fully indexed EPA with BC Hydro Capital cost estimate: 300 million Volcano Intake 30 million annualized EBITDA…
McLymont August 24, 2013 Tunnel Access Road Access Road Construction 14
Volcano Creek August 25, 2013 Headrace Channel and Weir Powerhouse 15
Utilities Secure. Regulated. Growing. Rate Base 5 Utilities: Serving nearly 550,000 customers Canada 44% U.S. 56% Rate base: More than doubled in 2012 to 1.3B Growth: -PNG pipeline expansion . -Volume demand & system betterment…
Well diversified Utility business Alberta AUI: Albertas second largest natural gas utility British Columbia PNG: Only pipeline in the BC LNG corridor Nova Scotia Heritage Gas: Nova Scotias only natural gas utility Michigan…
Strong Utility growth Growing volumes Strong rate base growth from volume demand and system betterment Greenfield expansion Fuel switching 900 Natural gas-fired power Rate Base (millions)* generation 700 Transportation…
Utilities expansion driving earnings growth SEMCO on track to deliver SEMCO 130 M EBITDA M SEMCO EBITDA Target Q2 2013 80 million Q1 2013 Q4 2012 40 million See Forward-Looking Statements & Information 19
Future investment opportunities of 2 - 5 billion British Columbia See Forward-Looking Statements & Information 20
AltaGas / Idemitsu JV partnership AltaGas and Objective: To pursue opportunities to Idemitsu each export LPG and LNG from Canada own a 50 percent LPG exports potentially commencing interest in the in 2016 Partnership LNG exports…
Shippers secured for PNG expansion Increase capacity of PNG system to 750 Mmcf/d from current 115 Mmcf/d PNG expansion is a critical milestone to executing on LNG export initiative 20-year Transportation Reservation Agreements…
LNG: Significant growth potential across all businesses Utilities Power Utilizing existing capacity on Increased generating capacity to PNG Pipeline support LNG projects 30-year firm transportation Gas arrangement with LNG Partners…
Why invest Attractive portfolio of Strong, diversified business Capital growth focused on stable, long-term energy infrastructure contracted projects assets Opportunities to grow Strong credit ratings Financially strong Strong…
2013 milestones Growth projects Area Targets for 2013 Utilization of new gas assets Gas 75 percent utilization of gas assets added in 2012 Forrest Kerr Power Mechanical completion and begin commissioning McLymont Creek and Volcano Creek…
Appendix 26
Q2 2013 Highlights Normalized EBITDA of 106.2 million Significant EBITDA growth driven by new assets* EBITDA is lower in Q2 and Q3 due to normal season factors in the Utilities 160 Announced the construction of 13 MW 140 Cogen…
Capital allocation program drives growth Disciplined in managing balance sheet and allocating capital Excess funds from operations available for 400 growth, maintenance and dividend growth Dividend Payout Target = 40 - 50% of FFO…
Investment grade credit ratios X EBITDA to interest Debt to total Available credit 6.0 capital facilities 1,600 70% 5.0 1,400 60% 1,200 4.0 50% 1,000 (In millions) 40% Available 3.0 800 Drawn 30% 2.0 600 20% 400 1.0…
Debt profile Capital structure* Term debt maturity positions* 500 7% Preferred Shares 400 (in millions) Common Shares Debt 54% 300 39% 200 100 - Strong balance sheet Balanced debt maturity profile 54 percent debt…
Increased earnings stability 80% Adding assets underpinned by regulated returns or long- term contracts Reducing commodity exposure 80 percent from stable earnings in 2013 Target of 85 percent from stable earnings See…
Committed capital fully funded Uses Sources Ample liquidity to fund 2013-15 capital growth 850 million committed capital* 1.3 billion cash flow 540 million dividends 180 million DRIP 60 million pref dividends 1.0 billion current…
Loading...
