Edison International · NYSE:EIX
Edison International — 27th Annual Bernstein Strategic Decisions Conference 2011
18 slides from Edison International's conference presentation, Jun 3, 2011
Slide 1: Leading the Way in Electricity
Exhibit 99.1 Leading 27th Bernstein Theodore Edison June Annual 3, International 2011 the F. Strategic Way Craver, EDISON in Decisions Electricity Jr. INTERNATIONAL® Chairman, Conference SMPresident June & CEO 3, 2011
Slide 2: Forward-Looking Statements
Leading Forward-Looking Statements not differ them Analysis” www.edisoninvestor.com. Junepurely 3, to materially 2011 reflect the in historical, contained Way Edison 1 EDISON new from inStatements information, Electricity International’s are in current this INTERNATIONAL® forward-looking These prese
Slide 3: Delivering Southern California Edison's Mission
Leading Delivering Southern •Edison Implement Manage Continue Our June Diversified Celebrating Positioned Balancing Strategic Pursuing Decoupled 10,000 Unlocking key 3, Mission International 2011 liquidity operating the MW California generation focus advanced Superior durable electric Way option for
Slide 4: SCE Capital Expenditures Forecast 2011-2014
Leading SCE ($ $3.8 2010 Range1 Forecast Solar $% Edison Generation Transmission Distribution By 2009 2012 Other FERC Total 1 expenditure June 2010. Currently billions) Proceeding% $4.4 3, Capital 2011 CPUC 17.5 100 Photovoltaic CPUC Cases SmartConnect™ 2011 $3.9 the $4.4 By $4.8 100 2012 2.3 foreca
Slide 5: SCE Rate Base and Core Earnings Historical Growth
Leading SCE ($ Rate $9.8 2005 Core $1.82 1 June See billions) $10.8 Base 3, Historical Earnings1 –SCE 2006 $1.89 2010 2011 the10% $11.7 2007 Core Way $2.07 CAGR 4 EDISON Rate 11% EPS 2008 $12.6 in$2.25 Electricity Base Non-GAAP 2009 $14.1 INTERNATIONAL® $2.68 and 2010 $15.5 Earnings SM $3.01 Reconci
Slide 6: SCE Rate Base Forecast
Leading SCE ($ Rate $18.2 $18.0 2011 1 regulatory part 2 Forecast. June Forecast Forecasted billions) of Base 3, Rate –$19.9 2012 $20.8 The 2014 2011 the Base 8-11% approvals; range 2013 Tax Way $22.6 $21.2 CAGR2 5Rate EDISON Forecast1 Relief, 2014 includes: inBase $24.7 $22.8 Electricity (3) Unempl
Slide 7: Balancing Focus
Leading Balancing Focus •Manage Effectively Ensure Public Customer Electricity Reliability Strategy June Realize Protect 3,on Policy customer 2011 impact within the is favorable sustainable grid Rates Key Customers to manage Way 6balance reliability EDISON Objectives capital onsatisfaction incustome
Slide 8: SCE Key Rate Comparison
Leading SCE 11.9 29% 15.3 2009 101 12% 90 Key Cleaner Rate High •31% 1 June Average SCE’s Public EIA’s SCE U.S. Factors U.S. SCE design Higher Lower lower 3, Rates Average rate 2011 2009 residential fuel policy the Average Average levels monthly and residential Way mix 7Electric Residential EDISON m
Slide 9: SCE Rate Case Timeline
Leading SCE Rate Updated Excludes •Cost 2010 Estimated Q3 July November April Evidentiary Opening ALJ Final 1 June Application On DRA Scoping Q4 19 Proposed April increase 3, 2012 of 2011 Decision1 28testimony Q1 2011 Capital Notice the GRC application, & fuel Memo CPUC 28, Q2 23 Reply Hearings Way
Slide 10: SCE Starting ROE and Cost of Capital Mechanism
Leading SCE Starting Moody’s Moving 10 Rate Sep-07 ROE •If June Since In index 9April 8(%) 3, Cost adjustment 72008, Sep-08 2011 Average exceeds Index 6the Baa 2012, of 5 Way Capital 9SCE’s Utility =EDISON Sep-09 SCE 6.26% abased for in1% Electricity CPUC Measurement Mechanism Index will deadband Se
Slide 11: California Applies Renewable Portfolio Standard
Leading California Applies •Allows Renewable (billion 2010 15.0 89% 2020 28.3 The Goal June Onnew SCE’s April Increase 3, 20% 33% 2011 use for kWh) actual focus similar the California Renewable RPS 12, self-build, Resources of Way 10 is Renewable 2011, 2010 RPS EDISON toinbuild 33% Electricity renew
Slide 12: EMG Generation Platform and Development Pipeline
Leading EMG March 964 Operating Coal Other Total Wind Pipeline2 Under Thermal Natural 1 2 3 another June Natural Owned Deliveries 193, 7,096 10,173 1,655 Development Business 153 Construction 31, 141 2011 Gas Gas3 source the Development or gas ~3,700 Platform1 22011 70 190 16 under Way 1,269 under 1
Slide 13: Unlocking Midwest Generation Value
Leading Unlocking Midwest Homer Credit Unsecured Seeking •Developing 2014 June Address Finalize Continue Need3, –Facilities: recovery 15 City: 2011 external the Generation: durable upcoming RPM EMG generation Notes: 479 Way under 12 EDISON auction MW of capital 2012 Option insolution 2013 energy dis
Slide 14: EMG Compliance Timelines
Leading EMG Compliance Completed Mercury 0.008 (Cost SO2 Construction 0.11 0.13 Up NOx Unit-specific Fleet-wide Capital 1 Unit 2 June Simplified Requirement to19 Compliance 3, Compliance SO2 included –$1.2 or2011 spending Illinois atthe 90% Compliance Mercury Fisk, billion average 2010 Way Deadlines
Slide 15: 2011 Earnings Guidance
Leading 2011 Non-core EMG Actual/Midpoint SCE EIX EMG(0.19)(0.19) Total Southern Assumptions 48% Edison •Other 1 2 June Average Approved Forward EMMT Normal No Excludes The Seeparent core basic energy changes equity, 3, $3.08 Earnings non-core $2.75 Use –2011 Mission 2011 discontinued the pre-tax Ca
Slide 16: Our Shareholder Value Proposition
Leading Our Among Supportive Leadership See Working •Current June Dual Southern Commitment Incentive Edison real Shareholder 3,platform 2011 the wind equity the Mission people coal California compensation regulatory in best Way 15 construction fleet renewable to value operating committed EDISON dome
Slide 17: Celebrating 125 Years in Electricity
Leading EDISON Celebrating June 1886-2011 3, 2011 the INTERNATIONAL 125 Way 16 EDISON Years in Electricity INTERNATIONAL® SM
Slide 18: Use of Non-GAAP Financial Measures
Leading Use Edison and Core per earnings the impact material A referenced June reconciliation principal share Exchange EPS of 3, earnings Non-GAAP of International’s 2011 to the refer by excluding participating in each principal Way operating 17 this to is Commission. EDISON principal of anet in pre
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