Uil Co. Ltd. · KRX:049520
Uil — Q3 2014 Earnings Presentation
17 slides from Uil's earnings presentation, Nov 4, 2014
Slide 1: 3Q '14 Earnings Presentation
3Q ‘14 Earnings PresentationNovember 5, 2014 Exhibit 99.2
Slide 2: Note to Investors
Note to Investors Certain statements contained herein, regarding matters that are not historical facts, are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These include statements regarding management’s intentions, plans, beliefs, expectations or for
Slide 3: 3Q & YTD '14 Earnings Summary
3Q & YTD ‘14 Earnings Summary Consolidated net income of $12.5M, or $0.22 per diluted share, for the 3Q ’14, compared to $5.1M, or $0.10 per diluted share, for the 3Q ‘13Consolidated net income was $77.3M, or $1.35 per diluted share, YTD ’14, compared to $74.9M, or $1.46 per diluted share, for the s
Slide 4: Strategic Initiatives
Strategic Initiatives Growth – through investment in electric and gas infrastructures Growth – through addition of new natural gas heating customers – extension of mainsSupported by CT state legislationPursuing investment opportunities in Renewable Generation, LNG and other projectsConstruction on R
Slide 5: PGW Acquisition Update
PGW Acquisition Update Reports by independent consultant, Concentric, are complete and have been publicly released On October 27th, City Council announced it would not endorse the sale of PGW to UILOn October 28th, we responded that we would make a determination whether to exercise our right to term
Slide 6: Gas Heating Customers
Gas Heating Customers Added over 9,400 households & businesses through September ‘14 6 97% of YTD forecast
Slide 7: Gas Heating Customer Additions
Gas Heating Customer Additions Comprehensive Energy Strategy (CES) & Berkshire Plan’10–’13 UIL Actuals ’14 UIL Target ‘15–’23 CES & Berkshire Projections 7
Slide 8: Transmission ROE Proceeding
Transmission ROE Proceeding Initial Complaint – Commission issued order 10/16/14 10.57% base ROE applicable to refund period Oct ’11 – Dec ’1210.57% base ROE 10/16/14 and forward (subject to Second and Third Complaints)11.74% cap on total company transmission ROERehearing requests related to initial
Slide 9: Regulatory Update
Regulatory Update Gas Distribution Rate Case – CNGFinal decision issued on 1/22/14 ordered a private letter ruling (PLR) request on 338 (h)(10) issue CT OCC filed an appeal of PURA’s rate case decision, including the PLRAt PURA’s request, CNG and CT OCC entered into settlement discussions, which are
Slide 10: by Segment
3Q & YTD ‘14 Financial Results by Segment 10
Slide 11: Details: Electric distribution & Other
11 3Q & YTD ‘14 Financial Results - Details Electric distribution & Other3Q & YTD ’13 earnings reflect after-tax rate case disallowances of $10.5M, or $0.21 per diluted shareExcluding these disallowance3Q increase primarily due to start of second year of rate increaseYTD decrease was primarily due t
Slide 12: Details: Electric transmission
12 3Q & YTD ‘14 Financial Results - Details Electric transmissionEarnings reflect after-tax reserves recorded regarding the transmission ROE proceedings pending at the FERC -- $3.2M, or $0.06 per diluted share, for 3Q & YTD ’14 and $1.5M, or $0.03 per diluted share,for 3Q & YTD ’13Excluding these re
Slide 13: Details: Gas distribution
Gas distributionIncreased loss primarily due to increased uncollectible expense of $0.4MYTD increase primarily due to colder weather, increased customer growth and increased normalized usage per customer, partially offset by increased uncollectible expense of $1.6M3Q & YTD ‘14 weighted average heati
Slide 14: Details: Gas distribution - cont.
14 3Q & YTD ‘14 Financial Results - Details Gas distribution - cont.Impact of weather, normalized usage per customer and customer growth – 3Q & YTD ‘14 compared to the same periods in ’13Preliminary avg. ROEs* as of 9/30/14: SCG 9.21-9.41%, CNG 10.17-10.37%Preliminary avg. weather normalized ROEs* a
Slide 15: Details: Corporate
15 3Q & YTD ‘14 Financial Results - Details CorporateCorporate costs include after-tax acquisition-related expenses of $0.9M, or $0.02 per diluted share and $12.8M, or $0.22 per diluted share, for the 3Q & YTD ’14, respectivelyExcluding these acquisition-related expenses Increase in costs primarily
Slide 16: Revised 2014 Earnings Guidance
Revised 2014 Earnings Guidance 16
Slide 17: Questions
Questions »