Pacific Gas & Electric Co. · NYSE:PCG
Pacific Gas & Electric — Q1 2012 Earnings Presentation
9 slides from Pacific Gas & Electric's earnings presentation, May 30, 2012
Slide 1: PG&E Corporation Earnings Call Presentation Subset
* PG&E Corporation The attached materials are a subset of the presentation slides used at PG&E Corporation’s May 2, 2012 earnings conference call and webcast, and are not intended as a reconfirmation of the forward-looking statements made on that date. The full set of presentation slides and the com
Slide 2: Key Focus Areas
* Position company for success Resolve gas issues Rebuild relationships with key stakeholders Move forward with gas work planned in 2012 Work to resolve regulatory proceedings Conduct rigorous benchmarking Build culture of continuous improvement Provide excellent service Meet commitments to customer
Slide 3: Regulatory and Operational Updates
* Regulatory and Operational Updates Operational Updates Pipeline work completed: Pressure tested several miles of pipeline Validated MAOP for 900 miles of pipeline Began scheduled refueling of Diablo Canyon Unit 1 Established Hinkley whole-house water replacement program; accrued $71 million Regula
Slide 4: 2012 EPS Guidance
* Includes estimated 2012 cost of PSEP, pending regulatory decision. The guidance range for 2012 does not include future insurance recoveries or potential penalties (other than those already accrued) or any potential punitive damages. (1) As provided on May 2, 2012, the date of PG&E Corporation’s ea
Slide 5: San Bruno Contribution and 2012 Equity Issuance
* (1) Based on guidance assumptions as provided on May 2, 2012, the date of PG&E Corporation’s earnings release San Bruno Contribution Previous Estimate Q1 2012 – Q4 2012 Current Estimate Q1 2012 – Q4 2012(1) 2012 Equity Issuance(1) Remaining Equity Need 2012(1) ($ millions) Q1 2012 Issuance
Slide 6: Forward-Looking Statements
* This presentation contains forward-looking statements about management's guidance for PG&E Corporation’s 2012 earnings per share and various assumptions and estimates on which such guidance is based, including forecasts of costs, capital expenditures, and future equity issuances, and estimated lia
Slide 7: Appendix
* Appendix
Slide 8: Regulatory Proceedings Timeline
* 8/15: CPSD Rebuttal Testimony 8/29: Prehearing Conference #2 4/2: Filing to Update Outstanding Issues 5/25: CPSD Testimony On or Before 8/27: Meet and Confer re: Hearings 9/6: Final Decision Mid-Nov: Case Submitted 4/6: Redacted CPSD Supplemental Testimony 6/25: PG&E Response 3/20: Prehearing Conf
Slide 9: Assumptions for Guidance
* ~$4,600 - $4,800 Capital Expenditures Forecast ($ millions) Authorized ROE: 11.35% Equity Ratio: 52% Cost of Capital Additional Expenses ($ millions) ~$200 planned incremental spend* Authorized Rate Base (weighted average) *Figure estimated for 2012. Comparable amount expected in 2013. (1) As prov
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