Vision and Mission Our Vision: A leading North American infrastructure company that connects NGL and natural gas to domestic and global markets. Our Mission: To improve quality of life by safely and reliably connecting customers to…
COVID-19 Despite the ongoing In response to COVID-19, weve taken challenges of the global action to protect our people and help our pandemic, our teams remain customers and communities by: committed to safely and Implementing…
Financial Highlights (CAD unless otherwise noted) Diversified, low-risk, high-growth 2020e Normalized Utilities and Midstream business that 39% EBITDA2,4 is focused on delivering resilient and 60% Midstream Corporate/Other…
Business Overview 6
AltaGas: Who We Are, Including Petrogas What We Do: We operate a diversified, low-risk, Who We Are: A leading North American energy high-growth Utilities and Midstream business Our Core infrastructure company that connects NGLs and…
Rate Regulated Utilities Provide Stability and Growth 60% of 2020e normalized EBITDA1 from Utilities Segment2 2020e Utility Revenues 1 Alaska: 147,000 customers 1.7 million customers in stable and growing jurisdictions 2 Michigan:…
Premier Midstream Business Leveraging RIPETs Structural Advantage to Markets in Asia Leverage RIPET and access to premium global pricing to attract volumes 65% from investment grade customers 70% from take-or-pay contracts and…
Counterparty Credit 87% of 2020e normalized EBITDA1 from regulated Utilities and investment grade counterparties Credit Quality Counterparty Credit Risk Mitigants: 60% Utilities with 1.7 million customers Diversified Midstream…
Strong Commercial Underpinning 85% of 2020e normalized EBITDA1 from rate Top 5 producers regulated 2020e utilities and take or pay contracts Contract Type 70% of 2020e normalized EBITDA1 underpinned by 5% low-risk regulated and…
Utilities 12
Utilities Strategy - Drive Operational Excellence Priorities Maintain safe and reliable infrastructure Enhance overall returns via complementary Utilities businesses and cost-reduction initiatives Distribution Attract and retain…
Our Utilities Business Operating Model Safe and reliable, high-growth competitive strategy Opportunities Improve business processes and drive down leak remediation costs, reinvesting savings into improving the customer…
Utilities 2020 Growth Drivers Grow earnings through rate base investment Investment in aging infrastructure and attracting new customers is expected to drive strong rate base growth of 8 - 10% annually through 2024 Rate Base Growth…
WGL ROE Strategy Path to earning our allowed returns at WGL Strategy in place with a clear line of sight to allowed returns in 2021 Key initiatives to achieving allowed returns: Anticipated Return On Equity 1. Capital Discipline: &…
Utilities Segment Capital Spend Disciplined approach to capital focused on strategic projects and Accelerated Replacement Programs Designed to earn immediate returns and increase capital efficiency through approximately 25% growth in…
Summary of Recent Rate Case Filings Focused on timely recovery of capital Most Recent Equity Revenue ROE Rate Case Filed Thickness SEMCO (Michigan) Filed May 31, 2019 Received: US19.9MM Received: 9.87% Received: 54%1 WGL…
COVID-19 Regulatory Update State Approach Washington, D.C. Commission issued an Order on April 15, 2020 to establish regulatory asset to track COVID-19 related costs incurred since March 11, 2020 On September 22, DC Council extended the…
Midstream 20
Our Midstream Strategy is Straightforward Maximize utilization of existing assets and pursue capital efficient high-return expansions Invest Continue to build upon our export competency Midstream Diversify and grow our customer base…
Premier Midstream Business Connecting Canadian Producers to Global Markets Leverage RIPET and our integrated value chain to attract volumes Montney Basin Key Assets: Strategic Benefits: Ridley Island Propane Global demand market…
RIPET 2020 Operational Overview Strong performance; positioned for growth Increased utilization - strong interest from producers supports volumes ramping up to exit 2020 at 50,000 Bbls/d RIPET 2020e 33% of total 2020 volumes under…
Montney Processing Increased utilization and expansions drive growth Operational Capacity Processing (Fractionation and NEBC Processing Facilities) 800 70,000 Projects brought online in 2020 add significant 700 60,000 volume…
Petrogas 25
Petrogas Transaction Summary AltaGas advances global export strategy through increased ownership in Petrogas; agreement concludes AIJV Petrogas put process announced January 2, 2020. Transaction re-iterates AltaGas commitment to…
Strategic Rationale Consolidating and integrating ownership position for improved AltaGas and industry outcomes Consistent with our global export strategy and Midstream operations with multiple interconnects. Supports AltaGas Vision and…
Expands AltaGas Footprint; Focused On Optimization Multiple interconnects with AltaGas Terminals Positions AltaGas to leverage its existing footprint; Positions AltaGas with industry-leading footprint in NEBC increased touch points…
The Ferndale Advantage Connecting North American producers to premium LPG prices in Asia The Ferndale Advantage results in significant increases in producers realized prices and tailwinds for the broader energy industry Alberta1…
Petrogas: A Look at How the Assets Fit Into AltaGas Value Chain Integrated Midstream Business Unparalleled access from wellhead to global markets; including Asia, North America and WCSB 1 Wellhead 2 Gas Gathering & Processing 3 NGL…
Midstream: Who We Are Post Petrogas Transaction Integrated Midstream Business from wellhead to global markets NGL Extraction & Fractionation Gas Gathering & Processing 64,000 Bbls/d2 6 Facilities: North Pine, Harmattan, Were a…
The Road Ahead will be Paved with Integration and Optimization Enhancing AltaGas value chain with Petrogas midstream infrastructure, logistics and services offerings will extend and strengthen the companys integrated platform, offering…
2020 Outlook 33
2020 Outlook Unchanged Strong Growth in Base Business Underpins 2020 Outlook 2020 Normalized EBITDA1 Guidance2 2020 Normalized EPS1 Guidance2 ( millions) (per share) 1,600 1.20 - 1.30 1,200 800 400 0 2020e 2020e…
2020 Normalized EBITDA1 Drivers Normalized 2020E EBITDA1 Growth Drivers 2020 Normalized Rate base growth through disciplined EBITDA1 Guidance2 investment in aging infrastructure ( millions) Achieving higher Returns On Equity…
2020 Disciplined Capital Allocation Strong Organic Growth Drives Robust Risk-adjusted Returns 900 million in top-quality projects drive earnings growth1 Corporate/ Other Capital Allocation Criteria: 4% Identified Projects:…
Investment Grade Credit Rating Business is Underpinned by 60% Utilities Business 10.1x Commitment to investment grade credit rating Regained financial flexibility and improving Debt/EBITDA metrics Improved 5.7x Debt / EBITDA…
Supportive Regulatory Environment for Utilities 2019 YE Allowed ROE Average Utility Rate Base and Equity Regulatory Update Customers (US) Thickness Distribution rates approved under cost of service model. Projected test year used…
Supportive Regulatory Environment for Utilities 2019 YE Allowed ROE Average Utility Rate Base and Equity Regulatory Update Customers (US) Thickness Distribution rates approved under cost of service model. Rate case filed in July…
Accelerated Replacement Program Utility Location Program 2019 rate case settlement provides for a renewed Mains Replacement Program for 2021-2025 with total Michigan spending 60 million and the introduction of a new Infrastructure…
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