Edison International · NYSE:EIX
Edison International — 26th Annual Bernstein Strategic Decisions Conference (June 2010)
25 slides from Edison International's conference presentation, Jun 2, 2010
Slide 1: Leading the Way in Electricity
Exhibit 99.1 Leading 26th Bernstein Ted Chairman, JuneCraver Annual 2, 2010 the Strategic President Way EDISON in Decisions Electricity and INTERNATIONAL® ChiefConference SM Executive Officer June 2, 2010
Slide 2: Forward-Looking Statements
Leading Forward-Looking Statements not differ them Analysis” www.edisoninvestor.com. Junepurely 2, to materially 2010 reflect the in historical, contained Way Edison 1 new EDISON from inStatements information, Electricity International’s are in current this INTERNATIONAL® forward-looking These prese
Slide 3: Our Mission
Leading Delivering A Southern growth Balance sustainable Focus Establish Decoupled Edison Achieve Effectively Develop Emphasize Our June diversified key 2,on International Mission 2010 electric operating the durable wind California grid foundation Superior regulatory liquidity manage growth Way 2and
Slide 4: SCE Highlights
Leading SCE One 8-11% $18 •Constructive of June 4.9 50,000 Over System Smart California CPUC Energy Earnings return billion of 2, Highlights million 13 110,000 five-year the 2010 grid earnings the square-mile cost and reliability million model nation’s -renewable Way technology $21.5 customer 3regul
Slide 5: SCE Capital Investment Forecast
Leading SCE ($ $4.4 $4.6 billions) $4.0 $2.9 Low Base Solar $% Edison June 2 Low Capital 2, $4.3 the100 $4.2 Generation Transmission Distribution By 2009 2012 Other FERC Total 1 Case 2010 Way Investment Classification Proceeding% Case2 Case1 Case 2010 CPUC 21.5 100 Rooftop CPUC Rate SmartConnect™ Su
Slide 6: SCE Base Rate Base Forecast
Leading SCE ($ 2009 $14.8 $16.2 $18.1 $20.8 $23.0 $25.2 Base CAGR 5-Yr Low 1 regulatory 2 program. Forecast billions) June Case2 Rate Case1 2010 2, Reflects the Base approvals; includes: 20102011 $15.8 $14.8 WayForecast 2012 Low in $17.2 $16.2 5 EDISONElectricity (1) (3) Case 2013 2009 $19.0 $18.1 F
Slide 7: EMG Operating and Development Platform
Leading EMG March 1,884 141 145 190 Operating 311 Coal Other Total Wind Pipeline2 Pending Thermal Natural 1 2 Natural June 3 114 7,395 10,002 another1,185 Development Business 145 153 31, Owned Gas Gas3 the and/or Pipeline Deliveries 2, gas ~4,000 2010Platform1 67 12010 74 source12 Way 1,269 100 653
Slide 8: EMG Midwest Generation
Leading EMG Midwest •Homer Total Forced Capacity Equivalent All-in $18.55 $28.62 $36.98 $45.25 $55.53 $61.73 $37.72 $24.01 Q1 Average 1 2 3 5,471 Powder Rail 1,884 Northern Coal Operational June092, Generation Coal-Fired under Average Q1 largely $16.63 $59.95 $36.38 $23.57 City Outage MW Includes th
Slide 9: EMG Mercury and Emission Compliance Timelines
Leading EMG 2010 Mercury 0.008 Waukegan SO2 0.41 0.28 0.15 Construction 0.11 0.13 Compliance NOx Fleet-wide Capital 1 Unit-specific Joliet, June Simplified Fisk 0.195 County 2, SO2 2011 –or Units 2010 spending Illinois the 90% Waukegan Powerton, Mercury 72012 Crawford average Way Deadlines deadlines
Slide 10: EMG Wind Portfolio
Leading EMG Portfolio 24 4 projects June 302 102 Recent InData Wind Estimated projects Investment Prior Projects MW Turbine Total Wind 1 2 March MW2, projects agreements. Amounts Spend 703 the & Turbine projects as in Development Energy Way 9service Activities1 2010 under/pending inExpenditures Busi
Slide 11: Funding Wind Investments
Leading Funding ($ $289 $104 Bank/Vendor $206 $88 U.S. $92 $379 Mitsubishi Q1 2010-2011 1 Sources 2 3 4 5 EME’s millions) 10 million Treasury $1,125 $732 million Spend Includes Excludes June 2, the for turbine $765 Turbines1 Spend Spend3 Cedro received Way 2010-11 Big anticipated & Financing Grants
Slide 12: Financing and Dividend Policy
Leading Financing Southern Authorized 48% 43% 9% Periodic Retain Current Edison Dividend Payout Depending Junepreferred equity long-term 2,cash ratio Mission International 2010 wind the debt California Policy Strategies upon capital at from Way is11 stock and construction 11.5% 45-55% debt Group EDI
Slide 13: 2010 Earnings Guidance
Leading 2010 Prior Revised Low Non-core legislation Midpoint by SCE EMG EIX Total Southern Assumptions $0.05 Edison March Other •million and 1 June Average Approved 48% Potential Forward EMMT Normal No Excludes See key other core basic parent changes Mid 2, –2010 $2.80 Earnings non-core $3.30 Use –p
Slide 14: Measuring Success: Drivers for the Next Ten Years
Leading Measuring Drivers The Reducing Smart Service Customer Enhanced JuneNext electric 2,Grid 2010 &the Ten Emissions Satisfaction Shareholder Reliability Success &Way power 13 Years Infrastructure EDISON inbusiness Electricity Renewable Value INTERNATIONAL® hasSM the Energy potential Electric to
Slide 15: California Environmental and Energy Policies
Leading California Most One Enviromental GHC: Renewable 3,000 500 20% 33% 2050 2030 2020 2017 2016 2013 2010 2000 10% 200,000 32,000 Additional 100% Customer Energy PEV Smart 400k-1M 1000MV JuneMW thru of reduction 2, Metering Aggressive MW of Metering 1990 80% GWh 2010 Efficiency & energy solar the
Slide 16: SCE Renewable Contracts to Meet RPS
Leading Contracts to Renewable (billion Small Geothermal SCE 9% 94% 2009 28.7 14.8 13.6 20% Potential 17% June meet Increase Increase RPS 19+% 2, 2010 Renewable 2010 Hydro 2010 kWh) the the 33% are (forecast) 20% 2020 Resources 2010 57% Way 15 4% inRPS Renewable place EDISON Portfolio Resource goal
Slide 17: Significant Potential for New Wind Resources
1 Leading Significant Potential -Tehachapi 0 100 200 300 400 500 600 700 Megawatts 2 3 4 5100 the 7x–Increase Way April increase in2005 Electricity ininNew totalWind wind SMResources energy to 15 billion kWh 6 7 8 10 2, 9 Each Hour 24 23 22 21 20 19 18 17 16 15 14 13 12 11 –Day Source: June Day 2920
Slide 18: Solar Photovoltaic Integration Challenges
Leading •Solar June Seasonal, Photovoltaic Low Inaccurate No cost 2,Intermittencies capacity 2010 the effective daily, Way forecasting 17inverter factor EDISON in minute grid Electricity <–storage 20% grid photovoltaic INTERNATIONAL® interactions SM yet power fluctuations
Slide 19: Transmission: Renewables Integration
Leading Transmission: Increase Voltage, June 2, 2010 VAR the transmission Way 18 & Renewables EDISON frequency in Electricity capacity INTERNATIONAL® Integration support to SMintegrate to mitigate morevolatility bulk renewable RD&D on energy advanced resources inverter Implement technology Synchroph
Slide 20: Plug-in Electric Vehicle Market Forecast
Leading Plug-in Modest Early Uncertainty New developed Some Growing management H 0 2010 June igh 2, policies Mid 2012 Market adopters clarity 2010 Vehicle number the Market number significance Low & 2014 around Way around 19 200 implemented and (2010-2014) with Forecast of EDISON 2016 (2015+) in of
Slide 21: Engaging Customers in Zero Net Energy Homes
Leading Engaging Zero By 1 June Includes 2020, 2, Net2010 the Energy in Customers smart SCE’s Way 20 EDISON meters, Home inservice Electricity in the energy INTERNATIONAL® area Supply SM there smart Chain may appliances be as many and customer as 10 million devices, intelligent electric devices1 veh
Slide 22: Realizing an Intelligent Grid
Leading Realizing intelligent system •electric Synchrophasors Circuits Substations Total Residential June Workforce Intelligent Cost Commercial Seamless Progress 2, demand effective 2010 grid with the ato devices and and Smarter automated and Way with date 21 outage response products secure energy s
Slide 23: Our Dual Platforms and Shareholder Value
Leading Our Dual electricity Southern Among Supportive platforms Leadership electric See Working Current Commitment Incentive consistent Edison customer June real Shareholder 2, platform Mission people 2010 vehicles the wind equity the coal California service compensation industry with regulatory in
Slide 24: Non-GAAP Reconciliations: Midwest Generation
Leading ($ Q1 Generation All-in Less: Realized Average Reconciliation Operating Renewable Fuel Midwest Homer Other Segment June millions) 09Costs expenses 2,Unrealized Non-GAAP revenues average Q1 City 2010 the realized revenues fuel Generation 10 revenues (GWh) projects Way 165 6423 Q1 expenses $12
Slide 25: Use of Non-GAAP Financial Measures
Leading Use Edison Core GAAP earnings the earn therefore EBITDA gain evaluating The and impact A referenced 24reconciliation common Exchange EPS unrealized average of dividend on earnings Non-GAAP earnings of International’s the the per by reflected ishedge EMG. in sale defined principal Way realize
Edison International — 26th Annual Bernstein Strategic Decisions Conference (June 2010) on 6ix