EEI 2014 Financial Conference November 11- 14, 2014
A Rare Investment Opportunity Projected long-term EPS growth of 6%-8% Unique electric and gas transmission growth platform Transmission Unique opportunity to reduce O&M by 3% - 4% annually Unique robust gas expansion plans 2014…
Strong Record of Total Shareholder Return 28.3% 19.5% 16.8% 11.8% 12.1% 12.3% 2009 2010 2011 2012 2013 2014 through 10/31 4
Q3 and YTD 2014 Results YTD EPS YTD EPS Q3 EPS 2014 Q3 EPS 2013 2014 2013 Electric Distribution 0.48 0.50 1.10 1.10 Electric Transmission 0.28 0.18 0.65 0.68 Natural Gas Distribution (0.03) (0.03) 0.14 0.11 Parent & Other 0.02…
Preliminary Key 2015 Earnings Growth Drivers vs. 2014 Anticipated CL&P rate case outcome and return on 300 MM storm balance Expected increased return on PSNH scrubber following prudence review Transmission rate base growth 3 4%…
NU Consolidated ROE Will Grow as Transmission Portion of NU Rate Base Expands Rate Base By Business 18.5 billion* 3% 11% 13.6 billion 6% 10% 46% * Rate base figures exclude Access Northeast 51% 3 billion increase in…
Status of Major Transmission Projects Expected Total Remaining Project Scope Investment by Work Ahead Amount 12/31/14 1.28 billion Complete IRP in 2015 NEEWS/GHCC investment in CT, 925 million 355 million Complete GHCC in 2018…
Progress on Major CT Reliability Projects Interstate Reliability Project Joint project with National Grid Siting approval in place Construction began in March 2014 62% complete as of September 30, 2014 Projected completion: End of…
NPT - Overview 1,200 MW of clean energy 1.432 billion HVDC line, terminal and AC facilities Participant-funded with opportunity for regional funding Uses HVDC technology at +/- 300-kV with AC/DC converters in Quebec and NH AC…
Northern Pass Timeline Early 2015 Early 2015 Mid-2015 Mid-2016 Second Half- Dept. of Energy Northern Pass NH SEC Accepts Permits 2018 Issues Draft Files Application Application Received Environmental with New Within 60 days ---…
New England Has Experienced a Significant Increase in Natural Gas Generation Annual Energy Output Generating Capability Source: ISO-New England 13
Yet 75 Percent of Regions Natural Gas Generation Was Unavailable During Winter Peak Demand And Critical Oil, Coal, Nuclear Units Retiring Fuel Mix During Peak Demand on 1/7/14 2014 Retirements Salem Harbor (coal & oil) - RETIRED…
3 Billion Cost Increase in Last Winter 15
Infrastructure Deficiency Driving Retail Rates Sharply Higher Price increases despite abundant nearby natural gas and hydro Pipeline constraints caused supply costs to increase by 3 billion during 2013-2014 winter Liquidity reduced…
Additional Investment in Spectra Energy Pipelines Will Provide a Regional Solution 17
Regional Funding Approach We support a regional approach to expedite construction of gas infrastructure Generation Gas LDC Demand Demand Support NESCOE approach to Traditional Open Season securing new gas infrastructure…
NU Natural Gas LDCs: Significant Expansion Ahead CT Residential Market Penetration by Shale gas lowering natural gas prices Heating Source 60% in Northeast 50% US Average = 7% 40% Oil heat much more expensive, yet 32% remains…
Significant Massachusetts Gas Initiatives Taking Shape Project Status Cost Ratemaking Upgrade of 3 bcf Hopkinton methodology now Up to 200 MM LNG facility under DPU review 42 MM in 2015 Legislatively mandated 25- Joint plan…
Potential for More Than 150,000 Additional New Heating Customers Over the Next Ten Years Potential natural gas conversion targets by year 18,000 Expansion Plan Timeframe 2014-2023 16,000 14,000 12,000 10,000 NSTAR Gas…
Long-term Rate Stability Jurisdiction Company Commentary NSTAR Electric Base rates frozen through 12/31/15 with limitations Massachusetts NSTAR Gas on number of concurrent filings; NSTAR Gas to file first in 12/14 for new rates…
Key Elements of CL&P Rate Case Distribution rate increase request of approximately 122 million Driven by increased investment in reliability, which has improved significantly 726 million of investment projected from 7/1/12 (end…
Other Regulatory Initiatives FERC ROE Case Generation Update Photo of scrubber 10/16/14 order lowered base ROE Merrimack Scrubber Case to 10.57% Completed September 2011 Multiple requests for Favorable staff testimony…
A Rare Investment Opportunity Projected long-term EPS growth of 6%-8% Unique electric and gas transmission growth platform Transmission Unique opportunity to reduce O&M by 3% - 4% annually Unique robust gas expansion plans 2014…
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