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Investor Update – Centerpoint Energy, Inc.

Centerpoint Energy, Inc. · Aug 1, 2014 · 36 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 August, 2014
  2. Investor Update – Centerpoint Energy, Inc. – slide 2
    Vision Refreshed to Reflect Changes in Portfolio 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…
  3. Investor Update – Centerpoint Energy, Inc. – slide 3
    Why invest in CenterPoint Energy Secure, competitive dividend and growth consistent with low business and financial risk Consolidated earnings expectations: Utility Earnings expected to be 4% to 6% CAGR driven aligns with rate base…
  4. Investor Update – Centerpoint Energy, Inc. – slide 4
    Our Strategy: Operate, Serve, Grow We will operate and grow innovative, customer-focused energy delivery businesses that provide superior performance for our key stakeholders OPERATE SERVE Ensure safe, reliable, efficient Add value…
  5. Investor Update – Centerpoint Energy, Inc. – slide 5
    Financing Plan: 2014-2018 Limit equity issuance and utilize debt capacity Enable Midstream Partners will finance its own operations No new debt or equity issuances planned for remainder of 2014 2015 - 2018 Debt to total…
  6. Investor Update – Centerpoint Energy, Inc. – slide 6
    Expected 3-Year Dividend Range: 8-10% CAGR Dividend Reset in 2014 with 14.5% Increase 1.30 S&P 500 Utility Index Companies 2010-2013 1.20 Average Dividend CAGR 4.1% 1.10 1.00 14.5% increase in 2014 0.90 0.80 0.70…
  7. Investor Update – Centerpoint Energy, Inc. – slide 7
    Company Overview investors.centerpointenergy.com 8
  8. Investor Update – Centerpoint Energy, Inc. – slide 8
    Diversified Energy Delivery Portfolio Electric Gas Operations Midstream Transmission & Natural Gas Utilities Energy Services Investments Distribution Regulated wires only Regulated local gas Non-rate regulated, Enable Midstream…
  9. Investor Update – Centerpoint Energy, Inc. – slide 9
    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 Consistently earns at or above the authorized ROE 3% of land…
  10. Investor Update – Centerpoint Energy, Inc. – slide 10
    Capital Investment Continues to Grow Houston Electric , Millions 3.7 Billion 2014-2018 Capital Estimate 1,000 750-800 Capital Upside 759 800 599 600 538 481 463 389 401 428 400 781 833 718 655 666 200 0 2006 2007 2008…
  11. Investor Update – Centerpoint Energy, Inc. – slide 11
    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…
  12. Investor Update – Centerpoint Energy, Inc. – slide 12
    Rights-of-way Revenue continues Houston Electric Expect 2014 ROW revenues to range 20 million to 30 million investors.centerpointenergy.com 13
  13. Investor Update – Centerpoint Energy, Inc. – slide 13
    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 5-Year CAGR: 7-10% Industry leading…
  14. Investor Update – Centerpoint Energy, Inc. – slide 14
    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…
  15. Investor Update – Centerpoint Energy, Inc. – slide 15
    Gas Operations: Natural Gas Utilities , Millions 2013 Operating Income: 263 24 9% 93 99 35% 38% 47 18% Texas Minnesota Arkansas Louisiana, Mississippi, Oklahoma Residential customer growth continues at 1% Operational…
  16. Investor Update – Centerpoint Energy, Inc. – slide 16
    Capital Investment Continues to Grow Natural Gas Utilities , Millions 2.2 Billion Current Capital Estimate, 2014 - 2018 300 to 400 MM Capital Upside Actual Capital Invested Capital Forecast, Per 2013 10-K Capital Upside…
  17. Investor Update – Centerpoint Energy, Inc. – slide 17
    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 to actual capital investment, effects of bonus depreciation,…
  18. Investor Update – Centerpoint Energy, Inc. – slide 18
    Value Proposition Gas Operations Robust and growing service Increased capital investment territories and infrastructure needs Constructive regulatory Leads to rate base growth of relationships and innovative 8-10% rates…
  19. Investor Update – Centerpoint Energy, Inc. – slide 19
    Energy Services Natural Gas sales and services Competitive natural gas supply services (compliment regulated utilities) Leverage natural gas utilities open-access transportation tariffs to replicate utility services at negotiated…
  20. Investor Update – Centerpoint Energy, Inc. – slide 20
    Midstream Investments Enable Midstream Partners, LP Basins Areas under development Bakken IPO completed in April, units trade on NYSE as ENBL CenterPoint LP ownership is 55.4% General partner holds no economic interest in…
  21. Investor Update – Centerpoint Energy, Inc. – slide 21
    2014 Quarterly Financial Results investors.centerpointenergy.com 22
  22. Investor Update – Centerpoint Energy, Inc. – slide 22
    Consolidated Results 3 and 6 months ended June 30 Quarter Ended Six Months Ended (unaudited, in millions except per share amounts) June 30 June 30 2014 2013 2014 2013 Revenues Electric Transmission & Distribution 698 656 1,327 1,188…
  23. Investor Update – Centerpoint Energy, Inc. – slide 23
    Operating Income by Segment 3 and 6 months ended June 30 ( in millions) Quarter Ended June 30 Six Months Ended June 30 2014 2013 2014 2013 Electric Transmission & Distribution: Electric Transmission and Distribution Operations 115…
  24. Investor Update – Centerpoint Energy, Inc. – slide 24
    Reconciliations investors.centerpointenergy.com 25
  25. Investor Update – Centerpoint Energy, Inc. – slide 25
    Op Income to Adjusted Op Income Reconciliation ( in millions) June 30, 2014 12 Months Ended 3 Months 6 Months 2013 2012 2011 Electric Transmission & Distribution Operating Income 145 250 607 639 623 1 Transition and System…
  26. Investor Update – Centerpoint Energy, Inc. – slide 26
    Reconciliation Tables 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…
  27. Investor Update – Centerpoint Energy, Inc. – slide 27
    Q2 2014 Debt and Liquidity Schedules investors.centerpointenergy.com 28
  28. Investor Update – Centerpoint Energy, Inc. – slide 28
    Debt and Capitalization Ratios Excluding Transition and System Restoration Bonds ( in millions) June 30, December 31, 2014 2013 Short-term Debt: Short-term borrowings 42 43 Current portion of transition and system restoration bonds*…
  29. Investor Update – Centerpoint Energy, Inc. – slide 29
    Liquidity and Credit Ratings ( in millions) Facility Amount 1 Amount Source of Liquidity on 7/24/14 Size Utilized Unutilized 2 CenterPoint Energy Revolver 1,200 6 1,194 2 CenterPoint Houston Electric Revolver 300 4 296…
  30. Investor Update – Centerpoint Energy, Inc. – slide 30
    Principal amounts of external debt As of June 30, 2014 ( in millions) CenterPoint Energy, Inc. ZENS 147(1) Senior Notes 750 Collateralized Pollution Control Bonds 118 (2) Uncollateralized Pollution Control Bonds 69 (3)…
  31. Investor Update – Centerpoint Energy, Inc. – slide 31
    Principal amounts of maturing external debt As of June 30, 2014 ( in millions) Series A Series 2008 System Series 2012 CenterPoint Transition Transition Restoration Transition Year Energy (1) CEHE CERC Sub-total Bonds (2) Bonds (2)…
  32. Investor Update – Centerpoint Energy, Inc. – slide 32
    Principal amounts of external debt CenterPoint Energy, Inc. As of June 30, 2014 Call Feature Security Outstanding Rate Insurer Maturity Date Price Commercial Paper (1) 40,500,000 0.250% - - - - 1.2 Billion Revolving Credit Facility…
  33. Investor Update – Centerpoint Energy, Inc. – slide 33
    Principal amounts of external debt CenterPoint Energy Resources Corp. As of June 30, 2014 Call Feature Security Outstanding Rate Maturity Date Price Commercial Paper (1) - - NA - - 600M Revolving Credit Facility - - 09/09/18 - -…
  34. Investor Update – Centerpoint Energy, Inc. – slide 34
    Principal amounts of external debt CenterPoint Energy Houston Electric, LLC As of June 30, 2014 Call Feature Security Outstanding Rate Insurer Maturity Date Price 300M Revolving Credit Facility - - - 09/09/18 - - First Mortgage…
  35. Investor Update – Centerpoint Energy, Inc. – slide 35
    Principal amounts of external debt Transition Bond Company As of June 30, 2014 CenterPoint Energy Transition Bond Company II, LLC Call Feature Security Outstanding Rate Maturity Date Price (1) Tranche A-4 Ser A Transition Bonds…
  36. Investor Update – Centerpoint Energy, Inc. – slide 36
    Principal amounts of external debt Restoration and Transition Bond Company As of June 30, 2014 CenterPoint Energy Restoration Bond Company, LLC Call Feature Security Outstanding Rate Maturity Date Price (1) Tranche A-1 System…

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