Public Service Enterprise Group Incorporated · NYSE:PEG
Public Service Enterprise — Investor Presentation (June 2013)
12 slides from Public Service Enterprise's investor presentation, Jun 12, 2013
Slide 1: Forward Looking Statement
EXHIBIT 99 Forward Looking Statement Certainof the matters discussedin this report constitute“forward-lookingstatements” • any deterioration in our credit qualityor the credit quality of our counterparties, within the meaning of the PrivateSecuritiesLitigationReform Actof 1995. Such forward- includi
Slide 2: GAAP Disclaimer
GAAP Disclaimer PSEG presents Operating Earnings in addition to its Income from Continuing Operations/Net Income reported in accordance with accounting principles generally accepted in the United States (GAAP). Operating Earnings is a non- GAAP financial measure that differs from Net Income because
Slide 3: 2013 Operating Earnings Guidance
2013 Operating Earnings Guidance $2.74 $2.25 - $2.44 $2.50 E 2011 Operating Earnings* 2012 Operating Earnings* 2013 Guidance * SEE PAGE A FOR ITEMS EXCLUDED FROM INCOME FROM CONTINUING OPERATIONS/NET INCOME TO RECONCILE TO OPERATING EARNINGS. E = ESTIMATE. 9
Slide 4: 2013 Operating Earnings
2013 Operating Earnings* Investment in the Percent of Operating Earnings Contribution by Subsidiary regulated business has changed the $3.09 $3.12 $2.74 $2.44 $2.25 -$2.50E earnings mix Other Our 2009-2013 61% 47% investment focus has 52% brought us to a 50/50 69% Power 76% mix for 2013 PSE&G’s 2013
Slide 5: Local NJ towns and counties support Energy Strong
43 Local NJ towns and 3 counties support • 43 local NJ governments, and the counties of Hudson, Passaic and Somerset, have approved resolutions in support of Energy Strong, PSE&G’s infrastructure proposal to improve and fortify its electric and gas distribution systems • The Energy Strong proposal i
Slide 6: PSE&G is continuing to provide solutions to assist New Jersey in achieving its EMP goals
PSE&G is continuing to provide solutions to assist New Jersey in achieving its EMP goals Solar Agreement Approved The NJBPU approved the Solar Agreement reached with BPU Staff and certain other parties on May 29 The agreement provides for investment of $446 million over a 3-year period, and a return
Slide 7: PSE&G's 2013 operating earnings
PSE&G’s 2013 operating earnings is benefiting from transmission growth and cost containment initiatives PSE&G Operating Earnings* ($ Millions) $580 - $635E $528 2012 2013 Guidance *SEE SLIDE A FOR ITEMS EXCLUDED FROM INCOME FROM CONTINUING E= ESTIMATE OPERATIONS/NET INCOME TO RECONCILE TO OPERATING
Slide 8: PSEG's locational advantage and electric basis
PSEG’s locational advantage and electric basis Current plant PS Zone On Peak Monthly Day Ahead locations Basis to PJM West Hub* 30 Bethlehem Energy Center (Albany) 25 Bridgeport 20 New Haven 15 10 Hudson Yards Creek 5 Keystone Bergen Kearny 0 Mercer Essex Jun-00 Dec-02 Jun-05 Dec-07 Jun-10 Dec-12 Co
Slide 9: PJM's capacity market continues to recognize locational value of our fleet
PJM’s capacity market continues to recognize locational value of our fleet 2012 / 2013 / 2014 / 2015 / 2016 / $/MW-Day 2013 2014 2015 2016 2017 Power’s Average Price $153 $244 $162 $167 $166 PS Zone $219 EMAAC $140 $245 $137 $167 $119 RTO $16 $28 $126 $136 $59 Power’s Capacity (MW) 10,400 10,600 10,
Slide 10: Maintaining 2013 operating earnings guidance
Maintaining 2013 operating earnings guidance PSEG Operating Earnings $ Millions (except EPS) 2013E PSEG Power $535 - $600 PSE&G $580 - $635 PSEG Energy Holdings/Parent $25 - $35 Operating Earnings* $1,140 - $1,270 2013 Earnings Guidance $2.25 - $2.50 *SEE SLIDE A FOR ITEMS EXCLUDED FROM INCOME FROM
Slide 11: PSEG Summary
PSEG Summary • Maintaining 2013 operatingearningsguidanceof $2.25 - $2.50 per share, with earnings mix shifting to ~50% regulated • Double digit operating earnings growth at PSE&G starting in 2013, and continuing through 2015 driven by transmission investments and approved programs • Power’s continu
Slide 12: Items Excluded from Income from Continuing Operations/Net Income to Reconcile to Operating Earnings
Items Excluded from Income from Continuing Operations/Net Income to Reconcile to Operating Earnings Reconciling Items Excluded from Continuing Operations/Net Income to Compute Operating Earnings (Unaudited) Three Months Ended For the Year Ended Pro-forma Adjustments, net of tax March 31, December 31
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