Edison International · NYSE:EIX
Edison International — Corporate Update (September 2009)
31 slides from Edison International's corporate update, Sep 10, 2009
Slide 1: Leading the Way in Electricity: Business Update September 9, 2009
Exhibit 99.1 Exhibit 99.1 Leading Business Septemberthe Update 2009 9, Way 2009inEDISON Electricity INTERNATIONAL® SM
Slide 2: Forward-Looking Statements
Leading Forward-Looking Statements not differ them Analysis” www.edisoninvestor.com. September 1 purely to materially reflect the in historical, 9, contained Way Edison 2009 new from inStatements EDISON information, Electricity International’s are in current this forward-looking These presentation I
Slide 3: What's Changing Since Last Update
Leading What’s Q2 Earnings Updated Changing Recap $207 Financial SCE September 2 2009 Regulatory million ofNew the Information SCE results Guidance Environmental Impact Electric 9,Way Since Wind 2009 Capital and Key of inSystem Our EDISON Portfolio as Electricity Global standard Events Spending ofLa
Slide 4: Delivering A Sustained Value Proposition
Leading Delivering A Leverage Positioned Southern Balance Focus Establish Decoupled Edison Diversify Enhance Effectively Our September 3 diversified keyon International Mission electric operating the liquidity California lower foundation regulated generation for Superior 9, regulatory manage Way and
Slide 5: Updated Guidance and Reconciliation
Leading Reconciliation as Low Midpoint EIX SCE Includes Assumes 2009 48% 11.5% Potential Forward EMG EMMT Increased Pre-tax Prior Non-Core Mountainview Other Normal No Excludes core See participating September 4 ofchanges significant Use core GAAP parent item) Midpoint Equity $2.49 05/08/09 Approved
Slide 6: SCE Rate Base Forecast
Leading SCE July $5 $ Solar Edison Generation Transmission Distribution 5-Yr By 2009 2012 Other FERC Total Base Subject and Low experienced September 5 Billions %$4 Classification Proceeding (2) 2009 Case2 Case Capital Base Case 2010 CPUC 20.4 100 Rooftop $3 CPUC Rate SmartConnect™ SCE’s to the $2re
Slide 7: SCE Capital Investment Forecast
Leading SCE July $ $15 2008 5-Yr Base Low Forecast construction program Reflects September 6 Billions $10 2009 Case2 Rate Case 2009 $5 the Low at asBase $20 $12.5 2010 9, SCE; of $0 $14.4 Way work 2009 Case July Forecast1 2011 $14.5 and in $15.8 in 2009 EDISON from Electricity progress (6) 2012 $16.
Slide 8: SCE Transmission Projects 2009-2013
Leading Rector SCE Santa Antelope Territory Vincent Pardee Los DPV2 Project 2009-2013 Renewables Tehachapi DPV2—CA San Reliability Rancho Other Total Grand Transmission and Subject “Other Petition FERC CPCN September 7 increase Angeles Joaquin Transmission Renewables Reliability Clarita Projects2 To
Slide 9: The Smart Grid and Changing Electric System
Leading The Smart Energy Historical Improving Increased Future Artificial Grid Integration Robust Sends Manages Optimizes Improves Support For $54 September territory. 8 the million Traditional Control, control management Metering price Grid customer last Smart for the aggregate intelligence generat
Slide 10: EMG Operating Business Platform
Leading EMG Operating Coal Other 10,072 Wind Pipeline Turbines Thermal Natural MW Projects 1 2 3 favorably September 9 Natural Owned Deliveries % 7,395 1,185 Development Business 153 100 Gas in the ~5,000 Pipeline3 942 or gas resolved Platform1 2development operation 9, 73 12 under Way 1,339 479 und
Slide 11: Managing Midwest Generation Focus Areas
Leading Managing Focus Operating Liquidity Environmental Reducing Increasing Result Maintaining Adding Testing Support MWG 7.9% 9.7% 6.4% Homer 83.7% 85.2% 89.4% 2005 Note: September 10 2006 8.3% Forced Area Forced -81.9% City alternative PRB Improved Waxman-Markey the and boiler Performance the cri
Slide 12: Environmental Spending and Illinois Agreement
Leading Environmental In Key Mercury Installed NOx SO2 Preliminary Evaluating Testing Comments Illinois Spending September 11 2006, Elements (Beginning (Beginning IPA ofthe sodium alternative Midwest (90% Dry capital Selective 9, particulate impact granted results Way Sorbent 2009 removal Agreement
Slide 13: EMG Strategic Wind Portfolio
Leading EMG Strategic Portfolio Rapid Increasing Recent $207M Seeing Wind Projects1 In Development Purchased Turbines MW Projects 109 Zond 439 Siemens Clipper Mitsubishi 1 2 3 September 12Data Development Commitments discussion Service Suzlon 300 by Project Wind return as increased activities: proje
Slide 14: Global Tax Settlement
Leading Global Year-to-date Income Overall Edison EIX Net of Taxes Estimated Cash The removes See Includes September 13 cross-border proceeds the IRS ($ flow settled Tax parent “EIX: Statement global millions)1 the Global a future all major expected 9, Settlement other Way status through from 2009 c
Slide 15: Appendix
Leading the9,Way September Appendix 14 2009inEDISON Electricity INTERNATIONAL® SM
Slide 16: Southern California Edison (SCE)
Leading the Southern September 15 California 9,Way 2009inEDISON Electricity Edison (SCE) INTERNATIONAL® SM
Slide 17: SCE Key Regulatory Cases and Milestones
Leading SCE Case Number CPUC’s 2006-08 R. Earnings the 2010 ER09-1534 Rate settlement Decision 12/09/04 Tehachapi Transmission 06/28/07 (Segments Service Petition A. on DPV2 Transmission1 06-0295-00130 Filed Cost mechanism 1 September 16CPUC 09-01-019 04-12-007/8 07-06-031 05-04-015 05/14/08 record
Slide 18: Edison Mission Group (EMG)
LeadingMission Edison September 17 the9,Way 2009 Group inEDISON Electricity (EMG) INTERNATIONAL® SM
Slide 19: EMG Midwest Generation Statistics
Leading EMG Midwest 5,471 Powder Rail Homer 1,884 Northern Coal Operational Total Load Equivalent All-in $60 $42.08 $52.23 $14.74 $58.51 $34.26 $35.67 $22.84 YTD $0 Includes Average See September 18 Non-GAAP $56.82 under largely Generation Factor 08 Coal-Fired MW Average $33.86 $18.37 $56.62 $30 $22
Slide 20: EMG Capacity Status
Leading EMG Status Installed Price Aggregate MW July Midwest EME Capacity Other auction. auctions Includes The price resources. September 19 RPM 1, MW of per Homer Capacity capacity at2012 2009 2010 2011 $16.46 the and 342 June Unsold Generation Average Capacity1 not MW auction The 9,Way to other so
Slide 21: EMG Hedge Status
Leading EMG Status Remainder 2009 Midwest Additional Homer Total Average Coal 1 MWh) 2 September 20As June At of under 2010 estimated Hedge atto City June the price June Generation1 hedge 30, 2011 9, coal of contract Way 30, Program 2009 2009, 30, ($/MWh) GWh contracted Midwest 2012 2009, in 2009 ED
Slide 22: Edison Mission Marketing and Trading
Leading Edison Markets Hedges Typically Target Proprietary Primarily Largely Enters Controls VaR; EMMT $200 $23 $50 $100 Income 20092 Year-to-date September 21 $27 $195 EaR; hedge-neutral into Mission Trading from key in $0 the energy on atransmission-related eastern stress $164 9, load rolling trad
Slide 23: Large-scale Ground-mounted Solar Program
Leading Large-scale Ground Connected Identified Processing Formed Focus solar southwestern EMG September 22 insolation Solar is onmounted strategic seeking the high over 9, to transmission Program (20-100 Way 2009 United transmission 30 areas torelationship insites deploy EDISON Electricity MW State
Slide 24: EMG Estimated Capital Expenditures
Leading EMG Estimated Remainder (in MWG Homer Plant Environmental Growth Projects Turbine Other Total (a) 23 Millions) $725 capital Capital capital City See projects commitments1 under the Expenditures expenditures Capital Pending ?Completion ?Development ?EME ?No See $417 of substantially million S
Slide 25: EIX Third-Party Relationships and Legal Structure
Leading EIX Third-Party No Intercompany Ordinary Long-standing Unregulated Southern International Group Edison Mission 10-K September 24 EIX and is for aCapital Mission guarantees cross-default obligation Energy the focused EMG acourse California complete 9,Obligations Way investment 2009 Relationsh
Slide 26: Liquidity Profile
Leading Liquidity March EMG EME & Sources Credit Cash Available Edison Excludes subsidiary SCE September 25 Capital amounts &Edison EMG Facility 31, Capital short (in the the Profile Liquidity parent 2009 of 9,Millions) Way unused EIX Lehman 2009 term include $&June (availability)2 3,000 co. in othe
Slide 27: Second Quarter Reconciliation
Leading Second Reconciliation Non-core and Total Basic Diluted Core $0.06 Midwest capacity Homer Higher expenses Renewable Timing turbine Natural Primarily revenues EMMT2 Corporate Edison Lower gain $0.06, Non-Core SCE EMG Q2 EIX See company EMMT September 26 09: other Use –parent on $EPS –$0.13 Ear
Slide 28: Year-to-Date Reconciliation
Leading Year-to-Date Reconciliation Non-core and Total Basic Diluted Core includes due Midwest buy-out SFAS Homer expense Renewable More Natural Primarily revenues EMMT2 Corporate Higher offset Edison Lower sale Non-Core SCE EMG Q2 EIX See company EMMT September 27 09 09: other to Use of –parent $EP
Slide 29: EMG Reconciliation
Leading EMG Reconciliation Earnings Addback Discontinued Interest Income Depreciation EBITDA2 Production Addback: Gain Loss Charge Adjusted 1 2 3 September 28Earnings See Production on Use – to Adjusted (loss) expense income taxes lease early sale the (Loss) (Deduct): EBITDA2 cancel of 275 9, refers
Slide 30: Non-GAAP Generation Reconciliation
Leading Non-GAAP Generation Capacity All-in Less: Realized Average Reconciliation YTD Operating Wind Fuel Midwest Homer Other Segment September 29 expenses Costs 08 Unrealized projects revenues Average City YTD the realized Revenues fuel revenues Generation and revenues 9, (GWh) Way Reconciliation 3
Slide 31: Use of Non-GAAP Financial Measures
Leading Use Edison accurately EPS share. weighted stock) we EBITDA gain evaluating The and impact A referenced September 30reconciliation refer Exchange EPS unrealized average of on byfor Non-GAAP of International’s the principal the to by is average hedge each compare EMG. in 9, as sale defined pri
Edison International — Corporate Update (September 2009) on 6ix