Dominion Energy, Inc. · NYSE:D
Dominion Energy — Investor Presentation (January 2020)
18 slides from Dominion Energy's investor presentation, Jan 9, 2020
Slide 1: Investor Meetings January 2020
Investor Meetings January 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: Key investment themes
Dominion Energy Key investment themes Delivering exceptional value to our customers, communities, employees, and shareholders 95% $26B 15th Regulated + 2019—2023 Consecutive quarter² “like” operating growth capital at or above guidance income plan midpoint Utility-centric gas transmission & storage
Slide 4: Operating earnings per share
Operating earnings per share Prior year actual versus guidance ($ per share) Fourth quarter Full-year 2019 $1.25 $1.25 $4.30 $1.10 $4.15 $1.10 $3.05 $0.89 Millstone refueling $0.88 Regulated investment 4Q18 Southeast Energy Grp. ▪ 2019 operating EPS: Millstone PPA $4.15 to $4.30 per share Gu
Slide 5: Business updates: Millstone, regulatory, reporting segments
Business updates Summary ▪ Effective date: October 1, 2019 Millstone ▪ Terms: 9 million MWh (55% of annual output) for 10 years; fixed price of $49.99 contract ▪ Positive outcome for Connecticut and region ▪ North Carolina (electric) — partial settlement, 9.75% ROE Regulatory ▪ Utah (gas distributio
Slide 6: Updated reporting segments: Overview
Business updates Updated reporting segments: Overview Dominion Energy Dominion Energy Dominion Energy Dominion Energy Dominion Energy Gas Transmission Contracted Virginia Gas Distribution South Carolina & Storage Generation NY CT UT CT OH VA PA States of WY OH MD ID WV SC CA IN WV WY VA operation NC
Slide 7: Business updates: Cove Point equity recap and credit
Business updates Summary ▪ $2.1B equity recapitalization ▪ 25% passive investment by an affiliate of Brookfield Cove Point ▪ Rationale: Redeployment of capital from low-growth to robust regulated growth equity ▪ Export project construction cost: ~$4.1B recap ▪ Transaction implied enterprise value: ~
Slide 8: Business updates: Virginia offshore wind and grid transformation
Business updates Virginia Summary ▪ Key approvals received for 12MW pilot project; in-service late 2020 ▪ Announced largest U.S. offshore wind development totaling 2.6GW; Offshore embraces Governor Northam’s executive order 43 challenge to accelerate deployment wind ▪ Three phases of 880MW each; Tar
Slide 9: Gas distribution operations South Carolina
Business updates Gas distribution operations South Carolina ▪ Strong customer growth ▪ Successful integration efforts with focus on operational excellence ▪ Executing on $2 billion, 5-year rider investment programs incl. pipeline replacement ▪ Restored service disruptions from Hurricane Dorian (~40%
Slide 10: Atlantic Coast Pipeline
Business updates Atlantic Coast Pipeline Appalachian Trail crossing Biological Opinion Milestone Est. timing Milestone Est. timing SCOTUS grants cert ✓ Court order (Oct 4) (July 26) No later than Winter of Final SCOTUS decision Reissuance June 2020 2019/20 Recommence full Recommence partial Soon t
Slide 11: One of country's most sustainable + innovative energy brands
Business updates One of country’s most sustainable + innovative energy brands 2018 Sustainability and Electric school buses Renewable Natural Gas Corporate initiative (RNG) Responsibility Report Renewable Natural ▪ Most comprehensive report to ▪ Replace Electric 100%School Buses of ~13,000 ▪ Increas
Slide 12: Appendix
Appendix Please refer to page 2 for risks and uncertainties related to projections and forward looking statements. 12
Slide 13: Track-record of successful execution
Appendix Track-record of successful execution Operating EPS (adjusted for normal weather) vs. guidance Upper end guidance Guidance midpoint Lower end guidance 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2
Slide 14: GTSA-related investment summary
Appendix GTSA-related investment summary Virginia Strategic Grid Environmental Utility solar off-shore wind undergrounding transformation upgrades Status Approved: $0.1B Approved: $0.5B Approved: $0.3B Approved: $0.5B Approved: $0.3B (to date) Pending: $0.5B Pending: $0.2B Anticipated program 2.5+ G
Slide 15: Atlantic Coast Pipeline
Appendix Atlantic Coast Pipeline Reflects judicial solution to Appalachian Trail crossing Assumed Permit/authorization Agency Current status resolution (timing) U.S. Fish & Wildlife Service Vacated Reissuance Biological Opinion (USFWS) (July 2019) (Winter of 2019/20) U.S. Army Corps of Engineers Vol
Slide 16: Updated reporting segments: Financing structure overview
Appendix Updated reporting segments: Financing structure overview Dominion Energy (DEI) Dominion Dominion Energy Dominion Energy Dominion Energy Contracted Energy Gas Transmission Gas Distribution South Carolina Generation Virginia & Storage New DEGH VEPCO DETI DEO DESC Millstone Cove Point Questar
Slide 17: Environmental, Social, and Governance overview
Appendix Environmental, Social, and Governance overview Electric generation mix (MWH) Petroleum Hydro, Biomass Solar, Wind, Other 4% 1% Biomass, Hydro 1% Coal Natural gas 5% 12% 7% Coal 2005 47% 2018 Nuclear Natural gas 43% Nuclear 39% 40% Dominion Energy carbon emissions (million metric tons) Cumul
Slide 18: Highlighted ESG statistics
Appendix Highlighted ESG statistics 2018 reporting year, unless noted¹ ▪ Safety: 0.55 OSHA recordable incident rate ▪ Carbon emissions intensity: 0.273 metric tons/net MWh ▪ Fresh water withdrawals (consumptive): 0.00000017 billion liters/net MWh ▪ Methane emissions: 63,543 metric tons² ▪ Supplier d
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