Dominion Energy, Inc. · NYSE:D
Dominion Energy — Corporate Update (April 2020)
14 slides from Dominion Energy's corporate update, Apr 6, 2020
Slide 1: Investor update April 6, 2020
Investor update April 6, 2020
Slide 2: Important note to investors
Important note to investors This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding Dominion Energy. The statements relate to, among other things, expectations, estimates and projections concerning the busines
Slide 3: Summary of update topics
Health, safety and well-being of employees and communities is first priority Early directives limiting travel, instituting work-from-home protocols, expanding health and PTO benefits for employees, suspending service disconnections, and donating over $1 million to relief efforts Usage trends (update
Slide 4: Continue to monitor Virginia electric demand
Continue to monitor Virginia electric demand Dom Zone weather-normalized daily load1 Mar 23: VA Governor issues closure of schools and non-essential businesses; bans gatherings over 10 people Mar 11: Coronavirus outbreak declared a pandemic by WHO March total load: +0.2% to 2018/19 avg. 1 Dominion E
Slide 5: Sales commentary
Sales commentary Dominion Energy Virginia Gas Transmission & Storage Gas Distribution Dominion Energy South Carolina Contracted Generation Commentary Rider programs with annual true-ups for over/under-recovery (~40% of rate base) Limited industrial load Data centers comprise ~30% of commercial load
Slide 6: Sales composition
Sales composition 2019 operating revenue Dominion Energy Virginia Dominion Energy South Carolina 45% residential 45% residential 32% commercial 33% commercial 6% industrial 16% industrial 10% gov’t 6% other 7% other
Slide 7: Liquidity
Liquidity As of April 5, 2020 $6.0 $2.7 $7.6 ($1.8) $4.2 $0.7 Liquidity Access to capital markets March 17 DEI $400M notes 3.3% Due 2025 March 17 DEI $350M notes 3.6% Due 2027 March 31 DEI $1.5B notes 3.375% Due 2030 March 16 DEI $500M 364-day term loan March 19 DEI $900M 364-day supp. revolver Apri
Slide 8: Long-term debt financing plan
Segment Issuance range Required timing DEV $0.8—$1.0B 2H 2020; However, will be opportunistic based on market conditions GT&S $0.4—$0.7B Gas Dist. $1.6—$1.8B DEI $0.1—$0.4B Total $2.9—$3.9B Long-term fixed-income financings $— $— $2.0 2020 long-term debt maturities Rest-of-year long-term debt plan N
Slide 9: Appendix
Appendix
Slide 10: Pension
Pension Consolidated funded status as of year-end1 85% 92% Commentary Funded status Re-measured only at year-end Pension discount rates are based on basket of long-term corporate bond yields Funding requirements $500M voluntary contribution in Q4 2019 IRS regulations effectively “smooth” market impa
Slide 11: Virginia Clean Economy Act: zero-carbon generation targets
Establishes robust zero-carbon electric generation targets 100% zero-carbon by 2046 via renewable energy portfolio standard (RPS) Provides direction for deployment of wind, solar, and energy storage resources Includes customer protections for reliability Outlines regulatory approval criteria, proces
Slide 12: Virginia legislative session (cont'd)
Virginia legislative session (cont’d) Maintains triennial review framework and timing First triennial: 2017 through 2020 performance with 2021 regulatory review Second triennial: 2021 through 2023 performance with 2024 regulatory review Recovery period for unit retirements at Commission discretion N
Slide 13: Renewable and storage targets
Offshore wind 5.2GW by 2035 incl. up to 3GW by 2028 Required Target(s) Yes Energy Storage 16.1GW by 2036 incl. 6GW by 2028 Solar & Onshore Wind 2.7GW by 2036 incl. 800MW pumped storage Yes Yes Highlighted emission reduction technologies
Slide 14: Select bill references
Appendix Select bill references Topic Bill number and link Virginia Clean Economy Act SB 851 HB 1526 Regional Greenhouse Gas Initiative (RGGI) SB 1027 HB 981 Period expense treatment HB 528