Uil Co. Ltd. · KRX:049520
Uil — Q2 2012 Earnings Presentation
13 slides from Uil's earnings presentation, Aug 3, 2012
Slide 1: 2Q 2012 Earnings Presentation
Exhibit 99.2 2Q 2012 Earnings Presentation August 6, 2012
Slide 2: Note to Investors
Note to Investors James Torgerson President and Chief Executive Officer Richard Nicholas Executive Vice President and Chief Financial Officer 2
Slide 3: 2012 Earnings Highlights
2012 Earnings Highlights q 2Q & YTD ‘12 earnings below 2011 levels mainly due to weather § 2Q ‘12 consolidated earnings of $12.0M or $0.23 per diluted earnings per share, compared to 2Q ‘11 earnings of $14.2M or $0.28 per diluted share - a decrease of $2.2M or 15% § YTD ‘12 consolidated earnings of
Slide 4: Gas Conversions
Gas Conversions q Converted 4,673 customers as of the end of June ’12 - 46% increase over the same period in ‘11 q 2011-2013 target is to convert 30,000-35,000 gas heating customers § 2012 goal is to convert approximately 10,200 customers § Converted approximately 8,300 customers in 2011 q Conversio
Slide 5: Gas Conversions - cont.
Gas Conversions - cont. q Consumer interest in converting remains strong § Financing options have been expanded to assist customers with up-front conversion costs § Natural gas supply prices are low and projected to remain low for the foreseeable future § Delivered natural gas price for heating cust
Slide 6: State Regulatory Update
State Regulatory Update Utility Company Storm Response Renewable Energy q Investigation of Public Service Companies’ response to q On 1/18/12, UI filed proposal with PURA outlining 2011 Storms (DN 11-09-09) framework for approval of UI’s renewable connections q Final decision issued 8/1/12 containin
Slide 7: Service Territory Economic Update
Service Territory Economic Update q Seasonally adjusted unemployment rates as of June 2012(1) § CT - 8.1% § MA - 6.0% § National - 8.2% q Unemployment rates in the largest service areas and cities as of June 2012(2) § Bridgeport labor market areas (LMAs) 7.8%, (City of Bridgeport 12.6%) § New Haven
Slide 8: FERC-Related Development
FERC-Related Development Challenge to Regional Transmission Base ROE: q “206” complaint filed at FERC by multiple state governmental entities in September 2011 § Claim that New England Transmission Owners’ base ROE is too high ▫ States current 11.14% base ROE is not just and reasonable and seeks a r
Slide 9: 2Q & YTD 2012 Financial Results by Business
2Q & YTD 2012 Financial Results by Business Net Income ($M) 2Q ‘12 vs. 2Q ‘11 YTD ‘12 vs. YTD ‘11 9
Slide 10: 2Q & YTD 2012 Financial Results - Details
2Q & YTD 2012 Financial Results - Details Electric distribution, CTA, GenConn & Other q Slight decline in net income for the 2Q ‘12; 15% increase YTD compared to YTD ‘11 § Decrease in allowance for funds used during construction in 2Q ‘12 , partially offset by increased income from GenConn § GenConn
Slide 11: Debt Maturities, Liquidity & Credit Ratings
Debt Maturities, Liquidity & Credit Ratings Debt Maturities ($M) Credit Ratings Issuer S&P Moody’s UIL BBB Baa3 Holdings (Stable) (Stable) United BBB Baa2 Illuminating (Stable) (Stable) BBB Baa2 SCG (Stable) (Stable) BBB Baa1 CNG (Stable) (Stable) BBB Baa2 Berkshire (Stable) (Stable) Available Liqui
Slide 12: Affirming 2012 Earnings Guidance
Affirming 2012 Earnings Guidance q ‘12 goal of converting 10,200 customers to natural gas heat q Execution of capital expenditure plan at each of our regulated businesses q Focused short-term O&M cost controls at each of our regulated businesses q Gas distribution guidance factors in warmer than nor
Slide 13: Q&A
Q&A OIL UIL HOLDINGS CORPORATION