Uil Co. Ltd. · KRX:049520
Uil — Q2 2013 Earnings Presentation
17 slides from Uil's earnings presentation, Aug 6, 2013
Slide 1: 2Q 2013 Earnings Presentation
2Q 2013 Earnings Presentation August 7, 2013 Exhibit 99.2
Slide 2: Note to Investors
Note to Investors 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, beliefs, expectations or for
Slide 3: 2Q & YTD '13 Earnings Summary
2Q & YTD ‘13 Earnings Summary All subsidiaries reported improved financial performance in 2Q & YTD ‘13 compared to the same periods in ’12 Improvement largely due to return to near normal weather, an increased transmission rate base and the impact of natural gas conversions 2Q ‘13 consolidated net i
Slide 4: Electric Distribution Rate Case
Electric Distribution Rate Case Ol L Q Draft decision issued 7/30/13 = Revenue -$21M year 1, $16M year 2 9.15% ROE, 50% equity, 50% debt capital structure Continuation of existing decoupling mechanism (generic docket to be established) Recovery of $36.8M of storm-related costs over 10 years with 100
Slide 5: Other Regulatory Updates
Other Regulatory Updates Renewable Connections Program Agreement in principle reached with prosecutorial staff; expected to be filed with PURA for approval PURA investigation into Storm Sandy Draft decision issued 7/30/13 PURA found LDCs performed their storm-related activities in a timely and effec
Slide 6: Comprehensive Energy Strategy (CES)
The CT Gas Companies jointly filed a plan with DEEP and PURA The plan redefines how gas companies connect customers to natural gas It outlines a structured approach to add approximately 280,000 new gas heating customers state-wide over the next 10 years. Of the 280,000 new customers, approximately 1
Slide 7: CNG Rate Case
CNG Rate Case Filed with PURA on 7/8/13 Need for Rate Relief To recover past and fund future capital investments To support the expansion of the availability of gas service, consistent with the CES Need for a more competitive return on equity Highlights of Request Test year 2012 Revenue request $19.
Slide 8: Gas Conversions
Gas Conversions Ol L Q Q o As of the end of 2Q ‘13, converted 7,749 households and businesses, 64% of this year’s target of 12,200 conversions Converted an additional 1,308 households and businesses in July ‘13 2011-2013 targetis to convert 30,000-35,000 households and businesses to gas heating = Co
Slide 9: Gas Sales
Gas Sales The following chart shows the normalized usage per customer (NUPC) since ’09 –shows uptick since year-end ’12 Increase in gross margin for 2Q & YTD ‘13 compared to the same periods in ‘12 of $1.2M, or approx. $0.01 per diluted share and $2.2M, or approx. $0.03 per diluted share, respective
Slide 10: FERC ROE Complaint
FERC ROE Complaint Challenge to Regional Transmission Base ROE: “206” complaint filed at FERC claiming that current approved base ROE on transmission investments of 11.14% is not just and reasonable ROE methodology updates were filed in the Spring ‘13 State complainants recommended a base ROE of 8.9
Slide 11: 2Q Financial Results by Business
2Q & YTD ‘13 Financial Results by Business * 2Q & YTD ‘13 Financial Results - Details Consolidated UIL earnings 2Q ‘13 consolidated earnings of $17.9M, an increase to net income of $5.9M, or 49% compared to 2Q ’12 YTD ‘13 consolidated earnings of $69.7M, an increase to net income of $10.7M, or 18% c
Slide 12: Financial Results - Details
20 & YTD ‘13 Financial Results - Details OIL BIL Consolidated UIL earnings Q 2Q‘13 consolidated earnings of $17.9M, an increase to net income of $5.9M, or 49% compared to 2Q 12 Q YTD ‘13 consolidated earnings of $69.7M, an increase to net income of $10.7M, or 18% compared to YTD ‘12 vi GenConn #& en
Slide 13: Financial Results - Details
20 & YTD ‘13 Financial Results - Details OIL Electric transmission or QO 2Q ‘13 earnings of $8.9M, or $0.17 per diluted share, an increase of $1.1M, or $0.02 per diluted share, compared to 2Q‘12 = Increase in net income primarily attributable to an increase in rate base Q YTD ‘13 earnings of $17.6M,
Slide 14: Financial Results - Details
2Q & YTD 13 Financial Results - Details Ol L Gas distribution (cont.) Q YTD ‘13 earnings of $30.6M, or $0.60 per diluted share, an increase of $5.4M, or $0.11 per diluted share, compared to YTD 12 = The increase in earnings was primarily attributable to: = Colder temperatures YTD 13, increased norma
Slide 15: Financial Results - Details
20 & YTD ‘13 Financial Results - Details BIL Gas distribution (cont.) Q Impact of weather, normalized usage beg customer and customer growth - 2Q & YTD 2 “13 compared to the same periods in Impact of Weather, Normulized Usage per Customer and Customer Growth = CnThaceni acer fi wr sie at) Ae 2Q "18
Slide 16: Reaffirming '13 Earnings Guidance
Reaffirming ‘13 Earnings Guidance OIL Approximate Net Ir egory ne Electric distribution, CTA & other $46 -$54 $0.90-$1.05 Electric transmission $30-$36 $0.60 -$0.70 Total Electric” $79 - $87 $1.55 -$1.70 Gas distribution $33 - $38 $0.65 - $0.75 UIL Corporate ($11) - (89) (60.21) - ($0.18) Total UIL”
Slide 17: Q&A
Q&A