Dominion Energy, Inc. · NYSE:D
Dominion Energy — Corporate Update (March 2020)
12 slides from Dominion Energy's corporate update, Mar 27, 2020
Slide 1: Investor materials
Investor materials March 27, 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 ▪ COVID-19 ▪ 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 t
Slide 4: Dominion Energy Virginia electric demand
Dominion Energy Virginia electric demand Dom Zone weather-normalized aggregate daily load through March 25, 2020 2020 Avg. 2017-19 Too early to tell on electric demand trends May see incremental residential load and decremental C&I load over time Mar 06 Mar 22 Mar 02 Mar 03 Mar 04 Mar 05 Mar 07 Mar
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 ▪ Industrial load accounts fo
Slide 6: Liquidity
Liquidity As of March 26, 2020 Liquidity Commentary $6.0 ▪ No draws on $6B master RCF $0.9 $5.5 ▪ Access to long-term debt market ▪ March 17: DEI HoldCo notes $0.8 ▪ $400M @ 3.3% due 2025 ▪ $350M @ 3.6% due 2027 $3.8 • March 20: PSNC private-placement ($2.2) ▪ $200M @ 4.1% due 2030 ▪ Access to suppl
Slide 7: Long-term fixed-income financings
Long-term fixed-income financings As of March 26, 2020 2020 long-term debt maturities Rest-of-year long-term debt plan $2.0 $2.2 Issuance Required Segment range timing DEV $0.8—$1.0B 92% of 2H 2020; maturities However, GT&S $0.4—$0.7B occur during will be 2H of 2020 opportunistic based on Gas Dist.
Slide 8: Pension
Pension Consolidated funded status as of year-end1 Commentary 92% ▪ Funded status ▪ Re-measured only at year-end ▪ Current estimates of pension discount rates, based on basket of long-term 85% corporate bond yields, have actually gone up since year-end which would have the effect of increasing funde
Slide 9: 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 10: 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 11: 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 12: Appendix: 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. 12