Consolidated Edison, Inc. · NYSE:ED
Consolidated Edison — Edison Electric Institute Finance Conference 2012
20 slides from Consolidated Edison's conference presentation, Nov 11, 2012
Slide 1: Edison Electric Institute Finance Conference
Con Edison, Inc. November 11-13, 2012 Edison Electric Institute Finance Conference 1
Slide 2: Forward-Looking Statements and Non-GAAP Financial Measure
Forward-Looking Statements This presentation includes certain forward-looking statements intended to qualify for safe-harbor provisions of the Federal securities laws. Forward-looking statements are statements of future expectation and not facts. Words such as "expects," "estimates," "anticipates,"
Slide 3: Regulated Transmission and Distribution Focused
Regulated Transmission and Distribution Focused Con Edison, Inc. (ED) 2011 EPS $3.59* Rate Base: $21.7 billion Market Cap: $16.5 billion Regulated Utilities Orange and Rockland 2011 EPS $0.18 Con Edison of New York 2011 EPS $3.34 Competitive Energy Businesses Con Edison Con Edison Con Edison Solutio
Slide 4: Solar Investment Portfolio
Solar Investment Portfolio Actual / MW Expected Project Location (AC) PPA Offtaker PPA Term SREC Term In-service Date Operating - Projects > 3MW Shrewsbury MA 3 Customer 20 years 1 year 4Q12 Pilesgrove NJ 9 N/A N/A 3 years 3Q11 Flemington NJ 8 N/A N/A 3 years 4Q11 Frenchtown II NJ 3 N/A N/A 3 years
Slide 5: Regulated Utilities are the Core of Con Edison, Inc.
Regulated Utilities are the Core of Con Edison, Inc. Con Edison of New York (CECONY) • 3.3 million electric customers • 1.1 million gas customers • 1,735 steam customers • 709 MW of regulated generation CECONY and O&R • Delivered 40% of NYS 2012 delivered 43% of electric peak consumption NYS 2012 el
Slide 6: CECONY Electric Network Maps
CECONY Electric Network Maps New York City Westchester County The Bronx Manhattan Queens Brooklyn Staten Island 6
Slide 7: Corporate Emergency – Incident Command System
Con Edison of New York Corporate Emergency – Incident Command System Incident Commander EH&S Officer Liaison Officer Customer Ops / Information Officer Outreach Officer Energy Services Officer Law Officer Incident Staff Administration / Operations Chief Planning Chief Logistics Chief Finance Chief F
Slide 8: Storm Preparation
Storm Preparation • Enterprise Risk Management formalized in 2004 with severe storms identified as one of Company’s top risk exposures • Coastal Storm Plan produced in October 2006 • Tabletop drills in May 2007 and November 2010 • Lessons from Tropical Storm Irene (August 2011) incorporated into Coa
Slide 9: Hurricane Sandy Compared to Other Storms
Hurricane Sandy Compared to Other Storms • Hurricane Sandy was the most damaging storm to ever hit the New York area • It was the largest tropical cyclone ever observed in the Atlantic Ocean – The diameter of tropical-storm-force winds extended 1,000 miles • The storm inundated New York Harbor and L
Slide 10: Damage Caused by Hurricane Sandy
Damage Caused by Hurricane Sandy • Equipment damage – Flooding of our underground equipment • East 13th Street transmission station and East River Station • Underground transmission cables – Downed overhead power lines due to fallen trees and high wind • Over 100,000 primary lines were down – Floodi
Slide 11: Con Edison and Orange and Rockland Power Outages
Con Edison and Orange and Rockland Power Outages Outage numbers as of 11/9/12 * Pike 4,470 O&R NY 181,800 Total Number of Outages CECONY 1,051,500 O&R 250,100 RECO 63,800 Westchester 282,000 Bronx Manhattan 70,000 234,500 * 16,300 CECONY customers cannot be restored due to damage on their electric B
Slide 12: Southern Manhattan Outage Map
Southern Manhattan Outage Map 12
Slide 13: Con Edison Steam in Manhattan
Con Edison Steam in Manhattan • Preparation: – Shut-down two steam-electric production facilities, 15 miles of steam piping, and some 120 customers located in flood-prone areas preemptively • Damage: – Storm surge forced two additional steam plants off line ~60 customers out above – In total, approx
Slide 14: Electric and Steam Generation Status on 10/30/12
Electric and Steam Generation Status on 10/30/12 Production Electric Plants Capacity Steam Plants Capacity Generation Out of 5,241 MW Generation Out of 10,525 mlbs/hr Service Service Generation In-Service 5,100 MW Generation In-Service 1,300 mlbs/hr Typical Electric 7,200 MW Typical Steam 4,000 –5,0
Slide 15: Con Edison, Inc.
ED GconEdison, inc. NYSE
Slide 16: Restoration
Restoration • Restoration prioritization – Safety of our customers and crew – Areas with largest number of customers as well as schools, hospitals, water supply facilities and polling places • Some 16,300 customers* cannot be restored by November 11th due to damage to their premises, including elect
Slide 17: Financial Consequences of Sandy
Financial Consequences of Sandy • Primary costs – O&M and Capital Expenditure – Mutual assistance labor and contractors – Support for extra labor – Materials and supplies – used six months of supplies so far in storm restoration efforts • Other cash impacts – bill collection, lost sales, lost custom
Slide 18: Regulatory Process in New York
Regulatory Process in New York • Section 105 major storm report • PSC may initiate a review of storm preparedness and response • Operating performance standards in rate plans exclude extraordinary events • Rate proceedings – Storm reserve fund and deferral of additional storm-related O&M for both CE
Slide 19: Financial Position
Financial Position • Current liquidity/bank lines • $2,250 million revolving credit facility; 19 banks • $500 million commercial paper outstanding on 11/09/12 • $514 million of cash on 11/09/12 • Tax-exempt remarketing completed 11/9/12 Ratings * Agency CECONY O&R CEI Recent Commentary S&P A- A- BBB
Slide 20: Con Edison, Inc.
Con Edison, Inc. November 11-13, 2012 Edison Electric Institute Finance Conference 20
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