Exelon Corporation · NASDAQ:EXC
Exelon — Sanford C. Bernstein Conference 2007
19 slides from Exelon's conference presentation, Jun 13, 2007
Slide 1: Value Driven Exelon Corporation - Sanford C. Bernstein Conference
Value Driven Exelon Corporation Sanford C. Bernstein Conference CO2 Emissions Limits and the Power Sector: How Will Utilities Respond? New York, New York June 14, 2007
Slide 2: Exelon Investor Relations Contacts
Exelon Investor Relations Contacts Inquiries concerning this presentation should be directed to: Exelon Investor Relations 10 South Dearborn Street Chicago, Illinois 60603 312-394-2345 312-394-4082 (Fax) For copies of other presentations, annual/quarterly reports, or to be added to our email distrib
Slide 3: Forward-Looking Statements
Forward-Looking Statements This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, that are subject to risks and uncertainties. The factors that could cause actual results to differ materially from these forward-looking statem
Slide 4: Composition of Operating EPS
2002 2003 2004 2005 2006 2007E* Generation 0.58 0.78 0.93 1.57 1.88 3.5 ComEd 1.13 1.18 1.16 0.77 0.78 0.15 PECO 0.7 0.65 0.69 0.76 0.67 0.625 Note: See presentation appendix for adjusted (non-GAAP) operating EPS reconciliations to GAAP. * 2007: Represents mid-point of guidance ranges for each opera
Slide 5: Generation Portfolio
Generation Portfolio Note: Megawatts based on Exelon Generation's ownership as of 12/31/06. Midwest Capacity Owned: 11,389 MW Contracted: 4,791 MW Total: 16,180 MW ERCOT/South Capacity Owned: 2,299 MW Contracted: 2,900 MW Total: 5,199 MW New England Capacity Owned: 622MW Mid-Atlantic Capacity Owned:
Slide 6: Exelon Generation Operating Earnings Drivers: Next Five Years
Exelon Generation Operating Earnings Drivers: Next Five Years Exelon Generation is poised for earnings growth over the next five years driven by the end of the IL and PA transition periods and its unique competitive position 2007 Guidance NOTE: See "Key Assumptions" slide in Appendix. (1) Difference
Slide 7: Exelon Vision, Goals and Strategic Direction
Exelon Vision, Goals and Strategic Direction Exelon is committed to creating value for our shareholders Exelon Strategic Direction Protect Today's Value Deliver superior operating performance Support competitive markets Protect the value of our generation Build healthy, self-sustaining delivery comp
Slide 8: Recognized Environmental Leadership
Named to the 2006/2007 Dow Jones Sustainability North America Index Named to Carbon Disclosure Index of the Carbon Disclosure Project in 2005 and 2006 Headquarters awarded Leadership in Energy and Environmental Design (LEED(r)) Platinum Commercial Interiors (CI) certification by the U.S. Green Build
Slide 9: Exelon and Federal Climate Change Legislation
Exelon and Federal Climate Change Legislation Climate change is real and results from human-caused GHG emissions Carbon tax has efficiency advantages Any cap and trade program should be national, mandatory and economy-wide Safety valve for cost of carbon to limit near-term economic impacts Allocatio
Slide 10: Carbon Value
Carbon Value Climate change legislation is expected to drive substantial gross margin expansion at Exelon Generation (1) The Energy Information Administration (EIA) valuation of the McCain Lieberman Bill, EIA report number SR/OIAF/2003-02. (2) As of May 21, 2007. (3) The EIA Carbon Stabilization Cas
Slide 11: Future Power Needs Demand Multiple Generation Sources
Future Power Needs Demand Multiple Generation Sources Geothermal Solar Wind Hydro Coal Natural Gas & Oil Future Demand Nuclear
Slide 12: Addressing Climate Change
Addressing Climate Change Support competitive markets Support new low-carbon generation sources Amanda Graham, 2006
Slide 13: Appendix - Key Assumptions and GAAP Reconciliation
Appendix - Key Assumptions and GAAP Reconciliation
Slide 14: Key Assumptions
Key Assumptions 2005 Actual 2006 Actual 2007 Est. Nuclear Capacity Factor (%)(1) 93.5 93.9 94.0 Total Genco Sales Excluding Trading (GWhs) 194,337 190,680 184,500 Total Genco Sales to Energy Delivery (GWhs) 121,961 119,354 40,500 (5) Total Genco Market and Retail Sales (GWhs)(2) 72,376 71,326 144,00
Slide 15: GAAP EPS Reconciliation 2000-2002
GAAP EPS Reconciliation 2000-2002
Slide 16: GAAP EPS Reconciliation 2003-2005
GAAP EPS Reconciliation 2003-2005
Slide 17: GAAP Earnings Reconciliation Year Ended December 31, 2006
GAAP Earnings Reconciliation Year Ended December 31, 2006 (in millions) ExGen ComEd PECO Other Exelon 2006 GAAP Reported Earnings (Loss) $1,407 $(112) $441 $(144) $1,592 Mark-to-market adjustments from economic hedging activities (61) 3 - - (58) Investments in synthetic fuel-producing facilities - -
Slide 18: GAAP EPS Reconciliation Year Ended December 31, 2006
GAAP EPS Reconciliation Year Ended December 31, 2006 ExGen (1) ComEd (1) PECO (1) Other (1) Exelon 2006 GAAP Reported EPS $2.08 (0.17) 0.65 (0.21) $2.35 Mark-to-market adjustments from economic hedging activities (0.09) - - - (0.09) Investments in synthetic fuel-producing facilities - - - 0.04 0.04
Slide 19: 2007 Earnings Outlook
2007 Earnings Outlook Exelon's outlook for 2007 adjusted (non-GAAP) operating earnings excludes the earnings impacts of the following: mark-to-market adjustments from economic hedging activities investments in synthetic fuel-producing facilities significant impairments of intangible assets, includin