Dominion Energy, Inc. · NYSE:D
Dominion Energy — Corporate Update (April 2020)
14 slides from Dominion Energy's corporate update, Apr 6, 2020
Slide 1: Investor update April 6, 2020
Investor update April 6, 2020
Slide 2: Important note to investors
Important note to investors This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding Dominion Energy. The statements relate to, among other things, expectations, estimates and projections concerning the busines
Slide 3: Update topics
Update topics Summary ▪ Health, safety and well-being of employees and communities is first priority ▪ Early directives limiting travel, instituting work-from-home protocols, expanding health and PTO benefits for employees, suspending service disconnections, and donating over $1 million to relief ef
Slide 4: Continue to monitor Virginia electric demand
Continue to monitor Virginia electric demand Dom Zone weather-normalized daily load1 10.0% Daily delta (%) to two year avg. (2018/19) Mar 23: VA Governor issues closure of 8.0% schools and non-essential businesses; bans gatherings over 10 people 6.0% 4.0% 2.0% 0.0% (2.0%) (4.0%) March total load: +0
Slide 5: Sales commentary
Sales commentary % of 2020E Impact on 2020E operating EPS Commentary operating EPS of 1% guidance change in sales2 ▪ Rider programs with annual true-ups for over/under- Residential: ~1.5 cents Dominion Energy recovery (~40% of rate base) 47% Commercial: ~1 cent Virginia ▪ Limited industrial load All
Slide 6: Sales composition
Sales composition 2019 operating revenue Dominion Energy Virginia Dominion Energy South Carolina 6% 7% other other 10% gov’t 45% 45% residential residential 16% 6% industrial industrial 33% 32% commercial commercial Please refer to page 2 for risks and uncertainties related to forward looking statem
Slide 7: Liquidity
Liquidity As of April 5, 2020 Liquidity Access to capital markets March 16 March 17 March 17 $0.7 $7.6 DEI DEI DEI $500M $400M notes $350M notes $2.7 364-day term 3.3% 3.6% loan Due 2025 Due 2027 $6.0 March 19 March 31 April 1 $4.2 DEI DEI DEI $900M $1.5B notes $625M ($1.8) 364-day supp. 3.375% 364-
Slide 8: Long-term fixed-income financings
Long-term fixed-income financings As of April 5, 2020 2020 long-term debt maturities Rest-of-year long-term debt plan Issuance Required Segment range timing $2.0 100% of remaining maturities DEV $0.8—$1.0B occur during 2H 2020 GT&S $0.4—$0.7B 2H 2020; However, will be Gas Dist. $1.6—$1.8B opportunis
Slide 9: Appendix
Appendix 9
Slide 10: Pension
Pension Consolidated funded status as of year-end1 Commentary 92% ▪ Funded status ▪ Re-measured only at year-end ▪ Pension discount rates are based on basket of long-term corporate bond 85% yields ▪ Funding requirements ▪ $500M voluntary contribution in Q4 2019 ▪ IRS regulations effectively “smooth”
Slide 11: Virginia legislative session
Virginia legislative session Awaiting Governor review and action ▪ Establishes robust zero-carbon electric generation targets ▪ 100% zero-carbon by 2046 via renewable energy portfolio standard (RPS) ▪ Provides direction for deployment of wind, solar, and energy storage resources ▪ Includes customer
Slide 12: Virginia legislative session (cont'd)
Virginia legislative session (cont’d) Awaiting Governor review and action ▪ Maintains triennial review framework and timing ▪ First triennial: 2017 through 2020 performance with 2021 regulatory review ▪ Second triennial: 2021 through 2023 performance with 2024 regulatory review ▪ Recovery period for
Slide 13: Highlighted emission reduction technologies
Highlighted emission reduction technologies Solar & Onshore Offshore wind Energy Storage Wind Required Yes Yes Yes ▪ 5.2GW by ▪ 16.1GW by ▪ 2.7GW by 2035 incl. up 2036 incl. 2036 incl. Target(s) to 3GW by 6GW by 800MW 2028 2028 pumped storage Please refer to page 2 for risks and uncertainties relate
Slide 14: Select bill references
Appendix Select bill references Topic Bill number and link SB 851 Virginia Clean Economy Act HB 1526 SB 1027 Regional Greenhouse Gas Initiative (RGGI) HB 981 Period expense treatment HB 528 Please refer to page 2 for risks and uncertainties related to forward looking statements. 14