Coastal Virginia Offshore Wind (CVOW) pilot project components en route from Europe (April 2020) Q1 2020 earnings call May 5, 2020
COVID assessment Corporate actions taken One Dominion Energy Implemented social distancing policies More than half of workforce working remotely Following best-practices in distribution and use of PPE Expanded health and paid time…
Operating earnings per share Actual versus guidance ( per share) First quarter 2020 1.25 1.18 1.09 17 straight quarters of weather-normalized results Unfavorable 1.05 that meet or exceed the weather impact on midpoint of our…
Operating earnings per share Actual versus guidance ( per share) Second quarter operating EPS Full-year 2020 operating EPS 4.60 4.22 4.25 0.85 0.75 No change to existing guidance 0.75 Actual: Guidance: Actual: Guidance:…
Dom Zone weather-normalized load Daily electric sales volume vs. 2018/19 average (through end of April) 12.0% Mar 11: Coronavirus Mar 23: VA Governor issues closure of 10.0% outbreak declared a schools and non-essential businesses;…
Dominion Energy Virginia Operating revenue and load (2019) Rate base 45% Revenue Volume Inclusive of 41% 40% fuel-pass- 36% 24B throughs, Data centers: 33% 30% of 60% 50% commercial of operating volume revenue Rider…
DESC weather-normalized load Daily electric sales volume vs. 2018/19 average (through end of April) Mar 11: Coronavirus 12.0% outbreak declared a vs. 2018/19 average pandemic by WHO March April 8.0% (1.2%) (9.6%) 4.0% 0.0%…
Dominion Energy South Carolina Electric and gas operations Operating revenue and load (2019) Rate base 45% Revenue Volume 8% Inclusive of 26% fuel-pass- 8.4B1 throughs, 36% 50% 32% 32% 66% of operating revenue 25% Rider…
Gas Distribution, Gas T&S, Contracted Generation 2020E operating EPS Commentary guidance contribution Over 80% of margin is decoupled Gas Distribution Full or partial bad debt recovery in OH, UT, NC 13% Entering off-peak and…
Liquidity As of May 1, 2020 Liquidity Access to capital markets March 16 March 17 March 17 0.7 7.8 DEI DEI DEI 1.8 500M 400M notes 350M notes 364-day term 3.3% 3.6% loan Due 2025 Due 2027 6.0 5.3 (0.7) March 19 March 31 April…
Long-term debt issuance plan 2020 ( millions) Original guidance: Remaining issuances Year-to-date issuances gross issuance range for year Dominion Energy Virginia 8001,000 8001,000 Gas Transmission & Storage 400700 400700 Gas…
Pension Consolidated funded status as of year-end1 Commentary 92% Re-measured at year-end only Discount rate proxies (long-term, all-in corporate bond yields) unchanged since year-end 2019 85% Proactive hedge strategy: Hedged…
Summary 17th straight quarter of weather-normalized results at or above the midpoint of our quarterly guidance range Well positioned with regard to COVID-related demand impacts but continue to monitor the situation carefully…
Excellence amidst turmoil Salt Lake City earthquake response (March 18) Largest earthquake in thirty years 20x+ more calls and work orders than typical Surveys found zero material gas leaks caused by earthquake across system South…
Virginia legislative session Most comprehensive renewable energy mandate in the nation Will create thousands of jobs, putting Virginia to work Regional, state, and local OFFSHORE SOLAR OR ENERGY economic growth WIND ONSHORE…
Virginia offshore wind Update Capital Existing 2.6GW CVOW project on-track to meet legislated approval standards Competitive procurement/solicitation per standard procedure Est. energy cost compares favorably to legislative…
Virginia solar and onshore wind Update Capital Near-term commitment: 3,000MW by 2022 More than 70% (2,100MW) complete During Q1, third solar rider application approved by Commission Select legislated approval standards Public…
Virginia energy storage Update Capital Pumped-storage Engineering and environmental analysis continuing Projected in-service in late 2020s Battery-storage 16MW pilot projects approved by Commission during Q1 (30M) Previous…
Near-term capital investment opportunities Dominion Energy Virginia +4.1B +71% 9.9B 5.8B Energy storage Solar Offshore wind Investor day guidance Updated guidance 2019-2023 growth capex 2020-2024 growth capex (OSW,…
Long-term capital investment opportunities Dominion Energy Virginia Up to 16B (subject to regulatory approval) Up to 43B (subject to regulatory approval) Electric transmission Nuclear relicensing 24B Offshore wind Strategic…
Dominion Energy Virginia Typical monthly residential electric bills (1,000kwh/month) Current DEV (VA) typical residential monthly bill vs. DEV future residential rates Expected to keep pace annually Virginia (4.1%) with average…
Atlantic Coast Pipeline Update Appalachian Biological Buckingham Nationwide Twelve Trail Opinion County Permit Agency U.S. Fish and U.S. Forest Service VA Air Control Board U.S. Army Corps of Engineers Wildlife Service Supreme…
Summary Outstanding Q1 safety performance; on-track to set new company annual record Achieved weather-normalized operating earnings that exceeded the midpoint of our guidance range for the 17th consecutive quarter Affirmed 2020…
Appendix Please refer to page 2 for risks and uncertainties related to projections and forward looking statements. 25
Operating earnings per share Track-record of successful execution Weather normalized operating EPS vs. guidance Upper end guidance Guidance midpoint Lower end guidance 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18…
Operating segments Summary Dominion Energy Gas Transmission Dominion Energy Contracted Gas Distribution Virginia & Storage South Carolina Generation NY CT UT CT OH PA States of VA WY OH MD ID WV SC CA IN WV WY operation…
Segment-level disclosure Operating earnings per share guidance 2020E guidance Q1 actual 2020E contribution by segment Dominion Energy Contracted Dominion Energy Virginia 2.222.40 0.58 Virginia Generation 5% 47% Gas Transmission…
Atlantic Coast Pipeline Select updates Financial update Capex to date (total project) 3.6B Project-level 1.8B debt AFUDC 14% equity rate Expected EPS contribution: Mid- to high- teen 2020 cents per share Ownership Expected…
Atlantic Coast Pipeline Permit summary Reflects judicial solution to Appalachian Trail crossing Assumed Permit/authorization Agency Current status resolution (timing) U.S. Fish & Wildlife Service Vacated Reissuance Biological…
State utility customers Segment summary as of 3/31/2020 State summary 3 months ended Customers March 31 3/31/2020 (M) DE 18-20 CAGR South Carolina DE Virginia 1.1% 2.7 1.1M Gas Distribution 17% 3.0M DE South Carolina 2.2%…
Weather After-tax impact (M) Q1 Q2 Q3 Q4 2020 QTD Dominion Energy (58) (58) Virginia2 Versus normal Dominion Energy (9) (9) South Carolina3 Gas Distribution4 (5) (5) Total (72) (72) Q1 Q2 Q3 Q4 2020 QTD Dominion…
Weather Degree days Quarter ended 3/31 2020 2019 Actual 1,518 1,892 Heating Normal 1,990 1,988 Dominion Energy Virginia Actual 14 5 Cooling Electric Normal 5 4 Actual 578 660 Heating Dominion Energy South Normal 801…
Contracted Generation 2020 Millstone hedge position Millstone hedging as of April 2020 17% open 2.6M MWh 56% long-term 15.4M contracted MWh in 8.7M MWh 2020 49.99 27% hedged 4.2M MWh 39.55 83% of 2020 volumes…
Environmental Generation by fuel type Electric generation mix (MWH) 2005 2018 2019 2005 2018 2019 Coal 52% 17% 12% Nuclear 36% 39% 42% Natural Gas 7% 39% 42% Petroleum…
Environmental Generation portfolio 2019 owned electric generation capacity (MW) Solar 27,100 27,100 1,800 MW MW MW Total by fuel Total by segment Solar portfolio Natural gas 40% DE Virginia 69% Contracted Gen 69% Nuclear…
Environmental Coal-fired generation Coal-fired generation as percent of Coal-fired generation as percent of company-wide generation output (MWh) company-wide generation capacity (MW) 52% 35% 20% 12% 2005A 2019A 2005A 2019A…
Environmental 1Q 2020 Solar portfolio Capacity summary: By segment Approximate values In service In development Total Dominion Energy Virginia 560 MW 1,450 MW 2,010 MW Contracted Generation 1,270 MW 620 MW 1,890 MW Total 1,830…
Fixed income 2020 remaining long-term debt maturities billions 2.0 100% of remaining maturities occur during 2H 2020 May June 2H 2020 Please refer to page 2 for risks and uncertainties related to projections and…
Fixed income Schedule of debt maturities ( millions, as of March 31, 2020) Dominion Energy, Inc. & Subsidiaries Financing Segment Due Date Entity DE Virginia DE GT&S DE Gas Dist DE SC DE C Gen Corp & Other Total 2020 6.25% Medium…
Fixed income Schedule of debt maturities continued ( millions, as of March 31, 2020) Dominion Energy, Inc. & Subsidiaries Financing Segment Due Date Entity DE Virginia DE GT&S DE Gas Dist DE SC DE C Gen Corp & Other Total 2023 2.45%…
Fixed income Schedule of long-term debt ( millions, preliminary & unaudited) Segment Financing Entity Description Maturity Weighted Avg. Rate Short-term at 3/31/2020 Long-term at 3/31/2020 DE Virginia VEPCO Unsecured Senior Notes,…
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