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Investor Update – Centerpoint Energy, Inc.

Centerpoint Energy, Inc. · Nov 10, 2014 · 31 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. Investor Update – Centerpoint Energy, Inc. – slide 1
    Focused on Energy Delivery, Positioned to Execute Investor Update November, 2014
  2. Investor Update – Centerpoint Energy, Inc. – slide 2
    Our Corporate Vision is to Our Vision Lead the nation in delivering energy, service and value We are the premier domestic energy delivery company LEAD THE Focus on leadership sets tone and helps drive priorities NATION Perform at…
  3. Investor Update – Centerpoint Energy, Inc. – slide 3
    Why Invest in CenterPoint Energy CNP Investment Thesis: Superior dividend and earnings growth consistent with low business and financial risk Robust 6.2 billion 5 year capital spending plan with potential 1.2 billion upside leads to…
  4. Investor Update – Centerpoint Energy, Inc. – slide 4
    Our Strategy: Operate, Serve, Grow We will operate and grow innovative, customerfocused energy delivery businesses that provide superior performance for our key stakeholders OPERATE SERVE Ensure safe, reliable, efficient Add…
  5. Investor Update – Centerpoint Energy, Inc. – slide 5
    Expected 3Year Dividend Range: 810% CAGR Dividend Reset in 2014 with 14.5% Increase 1.30 S&P 500 Utility Index Companies 20102013 1.20 Average Dividend CAGR 4.1% Dividend comprised of 1.10 two components1: 1. 6070% of…
  6. Investor Update – Centerpoint Energy, Inc. – slide 6
    Company Overview investors.centerpointenergy.com 7
  7. Investor Update – Centerpoint Energy, Inc. – slide 7
    Diversified Energy Delivery Portfolio Electric Gas Operations Midstream Transmission & Natural Gas Utilities Energy Services Investments Distribution Regulated wires only Regulated local gas Nonrate regulated, Enable Midstream…
  8. Investor Update – Centerpoint Energy, Inc. – slide 8
    Houston Electric: Background , Millions TDU Operating Income1,2 600 14.5% 12.7% 11.2% 500 ROE ROE ROE 400 300 496 492 474 200 5,000 sq. 100 miles 2011 2012 2013 3% of land mass in TX, but 25% of ERCOT KWh sales 2.3…
  9. Investor Update – Centerpoint Energy, Inc. – slide 9
    Capital Investment Continues to Grow Houston Electric , Millions 3.7 Billion 20142018 Capital Estimate 1,000 750800 Capital Upside Potential 759 800 599 600 538 481 463 389 401 428 400 781 833 718 655 666 200 0 2006…
  10. Investor Update – Centerpoint Energy, Inc. – slide 10
    5.6 Billion Projected 2018 Rate Base Houston Electric , Millions Projected Average Rate Base 6,000 5,608 5,387 5,088 5,000 4,627 4,172 4,000 3,886 3,000 2013A 2014F 2015F 2016F 2017F 2018F Estimated average annual rate…
  11. Investor Update – Centerpoint Energy, Inc. – slide 11
    RightsofWay Revenue Continues Houston Electric Revenues attributable to allowing thirdparty use of transmission ROWs Thirdparty needs result in uncertain project/revenue timing Expect 2014 ROW revenues to range 20 million to 30…
  12. Investor Update – Centerpoint Energy, Inc. – slide 12
    Value Proposition Houston Electric Continued strong customer Increased capital investment growth One of the fastest growing service territories in the nation Higher rate base growth rate Expected 5Year CAGR: 710% Industry…
  13. Investor Update – Centerpoint Energy, Inc. – slide 13
    Gas Operations: Overview 2013 Aggregate Avg Utility Rate Base 2013 Op Income (Total: 2.1 Billion) 13 218 10% 664 803 32% 39% 385 263 19% 2013 Operating Income of 276 , Millions GAS UTILITIES ENERGY SERVICES Six state…
  14. Investor Update – Centerpoint Energy, Inc. – slide 14
    Gas Operations: Natural Gas Utilities 2013 Regional Portfolio , Millions 2013 Operating Income: 263 24 9% 93 99 35% 38% 47 18% Minnesota Arkansas Texas Louisiana, Mississippi, Oklahoma Operational O&M1 and D&A CAGRs 2011…
  15. Investor Update – Centerpoint Energy, Inc. – slide 15
    Capital Investment Continues to Grow Natural Gas Utilities , Millions 2.2 Billion Current Capital Estimate, 2014 2018 300 to 400 MM Capital Upside Potential Actual Capital Invested Capital Forecast, Per 2013 10K Capital Upside…
  16. Investor Update – Centerpoint Energy, Inc. – slide 16
    3+ Billion Projected 2018 Rate Base Natural Gas Utilities , Millions Projected Average Rate Base Estimated average annual rate base at year end; subject to change due various factors, including, actual capital investment, effects…
  17. Investor Update – Centerpoint Energy, Inc. – slide 17
    Value Proposition Gas Operations Robust and growing service Increased capital investment territories and infrastructure needs Constructive regulatory Expected 5Year Rate Base CAGR: relationships and innovative 810% rates…
  18. Investor Update – Centerpoint Energy, Inc. – slide 18
    Energy Services Natural Gas Sales and Services Competitive natural gas supply services (compliment regulated utilities) Leverage natural gas utilities openaccess transportation tariffs to replicate utility services at negotiated…
  19. Investor Update – Centerpoint Energy, Inc. – slide 19
    Midstream Investments Enable Midstream Partners, LP Midstream Investments is a strategic component of our business portfolio, providing financial flexibility through our ownership of Enable LP and GP units and from the…
  20. Investor Update – Centerpoint Energy, Inc. – slide 20
    Financial Results: Consolidated Results Operating Income by Segment Weather Effect on Utility Operations Op. Income Debt and Capitalization Ratios Liquidity and Credit Ratings Principal amounts of external debt Principal amounts…
  21. Investor Update – Centerpoint Energy, Inc. – slide 21
    Consolidated Results Q3 and 9 Months Ended September 30 Quarter Ended Nine Months Ended (unaudited, in millions except per share amounts) September 30 September 30 2014 2013 2014 2013 Revenues Electric Transmission & Distribution 839…
  22. Investor Update – Centerpoint Energy, Inc. – slide 22
    Operating Income by Segment Q3 and 9 Months Ended September 30 ( in millions) Quarter Ended Sept 30 Nine Months Ended Sept 30 2014 2013 2014 2013 Electric Transmission & Distribution: Electric Transmission and Distribution…
  23. Investor Update – Centerpoint Energy, Inc. – slide 23
    Weather Effect on Utility Operations Operating Income vs. Normal Weather* ( in millions) * Average weather for service areas is based on a 10 year average. Note the regulatory normal weather definition may vary per service…
  24. Investor Update – Centerpoint Energy, Inc. – slide 24
    Debt and Capitalization Ratios Excluding Transition and System Restoration Bonds ( in millions) September 30, December 31, 2014 2013 Short-term Debt: Short-term borrowings 80 43 Current portion of transition and system restoration…
  25. Investor Update – Centerpoint Energy, Inc. – slide 25
    Liquidity and Credit Ratings (in millions) Facility Amount Amount Source of Liquidity on 10/22/14 Size Utilized 1 Unutilized 2 CenterPoint Energy, Inc. Revolver 1,200 69 1,131 2 CenterPoint Houston Electric, LLC Revolver 300 4 296…
  26. Investor Update – Centerpoint Energy, Inc. – slide 26
    Principal Amounts of External Debt As of September 30, 2014 ( in millions) CenterPoint Energy, Inc. ZENS 149(1) Senior Notes 750 Collateralized Pollution Control Bonds 118 (2) Uncollateralized Pollution Control Bonds 69 (3)…
  27. Investor Update – Centerpoint Energy, Inc. – slide 27
    Principal Amounts of Maturing External Debt As of September 30, 2014 ( in millions) Series A Series 2008 System Series 2012 CenterPoint Transition Transition Restoration Transition (1) (2) (2) (2) (2) Year Energy CEHE CERC…
  28. Investor Update – Centerpoint Energy, Inc. – slide 28
    Appendices: Operating Income to Adjusted Operating Income Reconciliation Reconciliation Table Gas Operations Additional Reference Materials investors.centerpointenergy.com 29
  29. Investor Update – Centerpoint Energy, Inc. – slide 29
    Operating Income to Adjusted Operating Income Reconciliation ( in millions) Quarter Ended Year Ended December 31 30Sep14 30Jun14 31Mar14 2013 2012 2011 Electric Transmission & Distribution Operating Income 232 145 105 607 639…
  30. Investor Update – Centerpoint Energy, Inc. – slide 30
    Reconciliation Table Gas Operations Reconciliation of Operating Income on an as reported basis (in millions) Year Ended December 31, 2013 Operating Income, as reported Natural Gas Distribution 263 Energy Services 13 Total Gas…
  31. Investor Update – Centerpoint Energy, Inc. – slide 31
    Additional Reference Materials Category Reference Material Link Financial Information Quarterly Financial Tables Debt & Maturity Schedules http://investors.centerpointenergy.com/highlights.cfm Equity Return Amortization Schedules…

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