Portland General Electric Co · NYSE:POR
Portland General Electric — Q1 2018 Earnings Presentation
12 slides from Portland General Electric's earnings presentation, Apr 27, 2018
Slide 1: Portland General Electric Earnings Conference Call First Quarter 2018
Portland General Electric Earnings Conference Call First Quarter 2018 Exhibit 99.2
Slide 2: Cautionary Statement
Cautionary Statement Information Current as of April 27, 2018 Except as expressly noted, the information in this presentation is current as of April 27, 2018 — the date on which PGE filed its quarterly report on Form 10-Q for the quarter ended March 31, 2018 — and should not be relied upon as being
Slide 3: Leadership Presenting Today
Leadership Presenting Today Jim Lobdell Senior VP of Finance, CFO and Treasurer On Today's Call • Financial performance • Accomplishments • Economic update • Renewables Request for Proposals • 2019 General Rate Case • Financial update • Earnings guidance 3 Maria Pope President and CEO
Slide 4: First Quarter 2018 Earnings Results
First Quarter 2018 Earnings Results Q1 2018 Q1 2017 Net Income (millions) $64 $73 Diluted EPS $0.72 $0.82 2017 Diluted EPS $2.10 2018E Diluted EPS $2.10 - $2.25 4 Q1 Q1 Q2 Q3 Q4 Q2 Q3 Q4 $1.38 - $1.53 Q1 Q2 - Q4
Slide 5: Operational & Economic Highlights
• Proposal filed for renewable power options for large business and municipal customers • Transportation Electrification Plan approved • Top-quartile customer satisfaction1 and 2018 Environmental Champion2 • Service area population growth of 1.8%3 • Average residential customer count increased 1.4%
Slide 6: Renewable RFP
Draft RFP filed with OPUC Final RFP issued Proposals due Notice to proceed March 2018 May 2018 June 2018 December 2018 Renewable RFP • OPUC acknowledged 100 MWa renewable need in December 2017 • Competitive Renewable RFP1 process to include oversight by an independent evaluator and review by OPUC •
Slide 7: 2019 General Rate Case
2019 General Rate Case 7 Timeline: • Regulatory review to occur throughout 2018 ▪ June: Staff and intervenor testimony and settlement conference(s) ▪ July: PGE reply comments and settlement conference ▪ August: Staff and intervenor rebuttal testimony • Final order expected from the commission by end
Slide 8: First Quarter Earnings Bridge
First Quarter Earnings Bridge 8 Earnings per diluted share
Slide 9: Capital Planning
Capital Planning Current Capital Outlook • Support for continued customer growth • Upgrades and replacement of aging generation, transmission and distribution equipment • Strengthening the grid for earthquakes, cyber attacks and other potential threats • New customer information systems and technolo
Slide 10: Liquidity and Financing
Liquidity and Financing Total Liquidity As of 03/31/2018 (in millions) Credit Facilities $ 720 Commercial Paper $ 0 Letters of Credit $ (71 ) Cash $ 70 Available $ 719 Ratings S&P Moody's Senior Secured A- A1 Senior Unsecured BBB A3 Commercial Paper A-2 Prime-2 Outlook Positive Stable Q1 2018 Q2 201
Slide 11: Guidance and Assumptions
Guidance and Assumptions 2018 EPS Guidance: $2.10 - $2.25 • Retail deliveries decline up to 1%, weather-adjusted • Normal hydro conditions for the remainder of the year based on the current hydro forecast • Wind generation for the remainder of the year based on 5 years of historical levels, or forec
Slide 12: 2018 Key Initiatives
12 2018 Key Initiatives • Maintain a high level of operational excellence and customer service • Invest in reliable and clean energy while keeping prices affordable • Build a smarter, more resilient grid
Portland General Electric — Q1 2018 Earnings Presentation on 6ix