Pacific Gas & Electric Co. · NYSE:PCG
Pacific Gas & Electric — PG&E — Morgan Stanley Utilities Conference 2011
14 slides from Pacific Gas & Electric's conference presentation, Mar 10, 2011
Slide 1: PG&E Corporation
PG&E Corporation p Kent Harvey Chief Financial Officer, PG&E Corporation Morgan Stanley Utilities Conference March 10, 2011 ®
Slide 2: Cautionary Language Regarding Forward-Looking Statements
Cautionary Language Regarding Forward-Looking Statements This presentation contains forward-looking statements regarding the anticipated outcome and timing of g various regulatoryypproceedings g involving g Pacific Gas and Electric Company p y ((“Utility”), y ), estimated costs and future insurance
Slide 3: Table of Contents
Table of Contents Rate Case Updates Page 5 Gas Pipeline Updates Page 8 Financial Summary Page 12 A Appendix di P Page 13 3
Slide 4: CPUC Commissioners
CPUC Commissioners Commissioner President Commissioner Commissioner Catherine Vacant Mike Peevey Tim Simon Mike Florio Sandoval The Governor appoints the five Commissioners to six-year terms. They must be confirmed by the Senate within one year of appointment. 4
Slide 5: 2011 General Rate Case
2011 General Rate Case A proposed decision and alternate proposed decision were issued for the 2011 General Rate Case (2011 – 2013) Comparison of 2011 Revenue Requirements ($ in Millions) Settlement Plus Alt. Full Return on Proposed Proposed Retired Meters Decision Decision Settlement Revenue Requir
Slide 6: 2011 Gas Transmission and Storage Rate Case
2011 Gas Transmission and Storage Rate Case Sets revenue requirements, requirements rates rates, terms and conditions for PG&E’s Gas Transmission and Storage services for 2011 – 2014 PG&E and all but one of the active parties are seeking approval of a settlement agreement Settlement revenue requirem
Slide 7: FERC TO13 Filing
FERC TO13 Filing Sets revenue requirements for PG&E’s PG&E s Electric Transmission business in 2011 Revenue Requirement Request: $1.026B Capital Expenditures: $810M $ Requested revenues would provide for additional electric transmission capacity and increased maintenance and replacement work on subs
Slide 8: San Bruno Update - NTSB
San Bruno Update - NTSB NTSB released preliminary factual report in October 2010 Full report expected about a year after the accident First Interim report in December 2010 • Ruled out external corrosion or excavation-related damage and noted discrepancy in records Issued recommendations to validate
Slide 9: San Bruno Update – CPUC
San Bruno Update – CPUC PG&E is complying with all CPUC directives Completed comprehensive gas leak survey in Q4 2010 Leak rate comparable p to other U.S. pipelines pp Reduced pressure on selected pipelines to 20% below the Maximum Allowable Operating Pressure (MAOP) Began exhaustive records review
Slide 10: Gas Pipeline Safety OIR
Gas Pipeline Safety OIR On 2/24/11, the CPUC began a proceeding to adopt new rules on pipeline safety and reliability Primary OIR objectives • Develop and adopt safety related changes to the CPUC’s regulation of natural gas pipelines in California • Consider ways the CPUC can undertake a comprehensi
Slide 11: Pipeline 2020
Pipeline 2020 A PG&E initiative to fundamentally improve gas pipeline integrity and safety Major focus areas include: • Modernizing critical pipeline infrastructure • Expanding use of remote or automated shut-off valves • Developing next-generation inspection technologies • Developing industry-leadi
Slide 12: Financial Summary
Financial Summary For 2011, 2011 internal equity sources (approximately $200 million) expected to be sufficient to meet equity needs Range of Estimates and Charges Related to San Bruno Third-Party Liability Accrual Direct Costs Estimated 2011 Range $ - $180 $0 $ million $ $200 - $300 $ million Costs
Slide 13: Appendix
Appendix ®
Slide 14: Key Regulatory Proceedings
Key Regulatory Proceedings Regulatory Case Docket # Expected Decision Date Order Instituting Rulemaking regarding New R.11-02-019 Schedule not yet adopted Safety Regulation for Gas Pipelines Order Instituting Investigation regarding Gas I.11-02-016 Schedule not yet adopted Pipeline pe e Recordkeepin