Pacific Gas & Electric Co. · NYSE:PCG
Pacific Gas & Electric — PG&E — Barclays CEO Energy-Power Conference 2015
12 slides from Pacific Gas & Electric's conference presentation, Sep 8, 2015
Slide 1: Barclays CEO Energy – Power Conference
BARCLAYS CEO ENERGY – POWER CONFERENCE September 8, 2015
Slide 2: Safe Harbor Statements
Safe Harbor Statements This slide presentation contains forecasts and estimates of capital expenditures to be made by PG&E Corporation’s subsidiary, Pacific Gas and Electric Company (Utility), through 2019. This presentation also includes forecasts and estimates of the Utility’s rate base through 20
Slide 3: PG&E Overview; California's Clean Energy Policies; Future Investment Opportunities
• PG&E Overview • California’s Clean Energy Policies • Future Investment Opportunities 3
Slide 4: Pacific Gas and Electric Company serves Northern and Central California
Pacific Gas and Electric Company serves Northern and Central California • Over 23,000 employees who provide energy to more than 16 million people • 70,000 square mile service territory • $60 billion in total assets • $1.4 billion in net income (2014) • $5.5 billion in cap ex and $29.5 billion in rat
Slide 5: PG&E has strong cost recovery mechanisms
PG&E has strong cost recovery mechanisms 2014 Revenue Sources CPUC Authorized Capital Structure Percent Cost General Rate Case CPUC Equity 52% 10.40% Pass Through ~41% ~49% FERC Debt 47% 5.52% Preferred Stock 1% 5.60% Gas Transmission & Storage Transmission ~3% Owner ~6% Other Mechanisms Cost of Cap
Slide 6: PG&E's generation mix is one of the cleanest in the country
PG&E’s generation mix is one of the cleanest in the country Clean Energy Mix Ownership Mix RPS Eligible 27% Utility-Owned Non- Generation Greenhouse Gas 35% Free 45% Procured 65% Greenhouse Gas Free 55% Greenhouse Gas Free – includes solar, wind, geothermal, biomass, all hydro, and nuclear RPS Eligi
Slide 7: Governor Brown's new policies are shaping California's Clean Energy Future
Governor Brown’s new policies are shaping California’s Clean Energy Future Energy Usage • 50% RPS by 2030 • Double the energy efficiency savings Greenhouse Gas Emissions • Cut emissions to 40% below 1990 levels by 2030 and 80% by 2050 Transportation Fuel • Reduce fossil fuel consumption from cars an
Slide 8: Grid modernization will require significant capital investment
Grid modernization will require significant capital investment… SUBSTATION UPGRADES DISTRIBUTION LINE (~$30M)* UPGRADES (~$70M)* TRANSMISSION AND ELECTRIC VEHICLE DISTRIBUTION AUTOMATION CHARGING EXPANSION (~$350M)* (~$375M)* ADVANCED MONITORING & CONTROL (~$140M)* PG&E proposes to invest nearly $1
Slide 9: … And updated rate structures
… And updated rate structures Net Energy AB 327 Residential Time of Fixed Metering Rates OIR Use Rates Charges 2.0 9
Slide 10: Our 2017 GRC request proposes to upgrade technology and infrastructure while keeping bills below the national average
Our 2017 GRC request proposes to upgrade technology and infrastructure while keeping bills below the national average Annual General Rate Case Revenues $9,252 $8,862 $390 $8,373 $489 $7,916 $2,170 $1,962 $1,827 $1,742 $4,213 $4,376 2016 Adopted 2017 Proposed 2018 Proposed Attrition 2019 Proposed Att
Slide 11: PG&E plans to maintain a robust CapEx plan through 2019
PG&E plans to maintain a robust CapEx plan through 2019… $5.3B – 6.5B annually* $5.3B - 5.8B* $5.5B $4.9B 2014 2015 2016 2017 2018 2019 * Ranges reflect authorized amounts, amounts requested but not yet authorized, amounts that are currently planned to be subject to future authorization requests, an
Slide 12: … And sustain commensurate rate base growth
… And sustain commensurate rate base growth 2014-2019 Weighted Average Rate Base CAGR: ~6% – ~8% $38.0 – 41.5B* $36.0 – 38.5B* $34.0 – 36.0B* $32.9 - 33.3B* $29.5B* $28.2B 2014 2015 2016 2017 2018 2019 * Estimates reflect authorized amounts, amounts requested but not yet authorized, amounts that are