Dominion Energy, Inc. · NYSE:D

Dominion Energy — Dominion Resources — Q2 2014 Earnings Presentation

11 slides from Dominion Energy's earnings presentation, Jul 30, 2014

  1. Slide 1: 2nd Quarter 2014 Earnings Call

    2nd Quarter 2014 Earnings Call July 30, 2014

  2. Slide 2: Important Note to Investors

    Important Note to Investors This presentation contains certain forward-looking statements, including forecasted operating earnings for third-quarter and full-year 2014, which are subject to various risks and uncertainties. Factors that could cause actual results to differ materially from management'

  3. Slide 3: 2Q14 Operating Earnings Summary

    2Q14 Operating Earnings Summary $0.65 2nd Quarter Drivers $0.62  Lower operating expenses $0.55  Lower interest and taxes  Mild weather  Unplanned outage at Millstone Principal Exclusions from Operating EPS Guidance Actual – Charges associated with North Anna Range Operating EPS* and offshore wi

  4. Slide 4: Operating EBIT

    Operating EBIT 2Q14 actual versus guidance (in $millions) Guidance Actual Drivers  Mild weather Dominion $240-260 $243 Virginia Power  Reg. electric sales  Transport & storage revenues Dominion $190-220 $215 Energy  Lower operating expenses  Mild weather Dominion $290-345 $306 Generation  Unpl

  5. Slide 5: Financing

    Financing  Equity – Issued $1 billion of mandatory convertibles  Debt – Filed Dominion Gas Holdings S-4 registration statement with SEC – Anticipate issuing ~$1 billion at Dominion Gas in the 4th quarter  MLP – Expect to commence offering this quarter after receiving FERC approval for Cove Point

  6. Slide 6: 3Q14 Operating Earnings Guidance

    3Q14 Operating Earnings Guidance $0.90 to $1.05 3rd Quarter Drivers $1.00  Normal weather  Va. Power riders  Merchant margins  Absence of Blue Racer asset contribution  Interest expense 3Q13 3Q14 EPS EPS* Guidance*  Operating expenses * See pages 36 and 37 of the 2Q14 Earnings Release Kit for

  7. Slide 7: Hedged Power Update

    Hedged Power Update Millstone Hedge 2014 2015 2016 Position 98% 80% 31% $60.96 $56.80 $57.58 $55.43 $55.34 $52.43 $52.38 $49.29 $/MWH 2013 2014 2015 2016 NEPOOL Baseload Avg. Hedge Price NEPOOL ATC Power Price 2014-2016 forward curves as of 7/25/14 Please refer to page 2 for risks and uncertainties

  8. Slide 8: Dominion Generation

    Dominion Generation  Warren County – ~90% complete – Expect in service in 4Q  Brunswick County – ~20% complete – Expect in service mid-2016 Warren County Warren County  Bremo Conversion – Conversion of units 3 and 4 completed on time and on budget  Solar Energy Projects – Construction of six Cal

  9. Slide 9: Dominion Energy

    Dominion Energy  Allegheny Storage Project and Natrium to Market Project – Both expected in service by November  Producer Outlet Projects – Monroe to Cornwell  15-year agreement to move 205,000 dth/d beginning November 2016 – Western Access II  15-year agreement to move 350,000 dth/d beginning N

  10. Slide 10: Dominion Energy: Blue Racer and Cove Point update

    Dominion Energy 1,500  Blue Racer update Permitted Utica Well – Natrium II became operational Status during the quarter Drilled 1,000 – Fractionation capacity at Natrium # of Wells will be expanded by March 2015 Producing 500 – Berne processing facility is expected to begin operations in the 4th qu

  11. Slide 11: Visit our website at www.dom.com/investors.

    Visit our website at www.dom.com/investors.

Dominion Resources — Q2 2014 Earnings Presentation on 6ix