Slide 1: 3Q '11 Earnings Conference Call
Exhibit 99.1 3Q ‘11 Earnings Conference Call November 4, 2011
Slide 2: Note to Investors
Note to Investors Safe Harbor Provision Certain statements contained herein, regarding matters that are not historical facts, are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These include statements regarding management’s intentions, plans, belief
Slide 3: 3Q & YTD 2011 Highlights
3Q & YTD 2011 Highlights YTD ’11 consolidated earnings of $78.4M was $34M higher than YTD ’10, primarily due to net income from the gas companies 3Q ’11 consolidated earnings of $12.2M were $4.8M lower than 3Q ’10, primarily due to mark to market and tax rate adjustments Ø These non-operational char
Slide 4: Gas Conversions
Gas Conversions Momentum of interest in conversions increasing as heating season begins ØDirect mail marketing deployed in October to increase customers’ awareness of conversion benefits ØFinancing options are being expanded to assist customers with up-front conversion costs Approximately 6,800 cust
Slide 5: GenConn Energy
GenConn Energy 50/50 Joint Venture between UI and NRG Both GenConn Middletown & Devon are now operating in the ISO-New England (ISO-NE) markets Ø UIL reported pre-tax income of $3.5M and Middletown $8.2M in the 3Q and first nine months of ’11, respectively Devon 5 3Q ’11 Earnings
Slide 6: Regulatory Update
Regulatory Update SCG Potential Overearnings Generic ROE Proceeding SCG/CNG Rate Case Appeals PURA schedule has not been updated UI Electric Decoupling Ø Final decision by CT PURA approving CNG & SCG settlement of rate case appeals was issued on 8/3/11 (DN 08-12-06RE02 & DN 08-12-07RE02) Ø Final dec
Slide 7: Regulatory Update - continued
Regulatory Update - continued Transmission ROE Utility Company Storm Response Docket Ø Several New England governmental entities have filed a Ø Investigation of the service response and communications of complaint with FERC regarding the base return on equity utilities in CT following Tropical Storm
Slide 8: Governmental Update
Governmental Update Implementation of Public Act 11-80 Ø Department of Energy & Environmental Protection (DEEP) was created Ø Former DPUC has become the Public Utilities Regulatory Authority (PURA) › Change from 5 DPUC commissioners to three PURA directors § Kevin DelGobbo (former DPUC chair), John
Slide 9: Economic Update
Economic Update Economic recovery has been extremely slow over the past 2 years Ø September - moving primarily sideways with a slight downside bias CT labor markets are now slightly lagging the national average Seasonally adjusted unemployment rate as of September 2011 Ø CT - 8.9% Ø MA - 7.3% Ø Nati
Slide 10: 3Q & YTD 2011 Financial Results by Business
3Q & YTD 2011 Financial Results by Business Net Income ($M) 3Q ’11 vs. 3Q ’10 YTD ‘11 vs. YTD ’10 10 3Q ’11 Earnings
Slide 11: 3Q & YTD 2011 Financial Results - Details
3Q & YTD 2011 Financial Results - Details Electric distribution, CTA, GenConn & Other Ø 1% increase in net income YTD, 3Q was lower primarily due to mark to market & effective tax rate adjustments, offset by GenConn earnings › The mark to market & effective tax rate adjustments reduced net income by
Slide 12: Increased '11 Earnings Expectations
Increased ‘11 Earnings Expectations Current Assumptions Ø Electric distribution, CTA & Other and Gas distribution ranges were narrowed reflecting year-to-date performance Ø GenConn expected to earn $0.12-$0.14 per share Ø UIL Corporate was reduced to reflect tax savings resulting from the deductibil
Slide 13: Q&A
Q&A