Eversource Energy (d/b/a) · NYSE:ES
Eversource Energy (d/b/a) — Eversource Energy — 2023 EEI Financial Conference
23 slides from Eversource Energy (d/b/a)'s conference presentation, Nov 12, 2023
Slide 1: 2023 EEI Financial Conference
EVERSOURCE ENERGY 2023 EEI FINANCIAL CONFERENCE November 12-14, 2023
Slide 2: Safe Harbor Statement
EVERSOURCE ENERGY Safe Harbor Statement All per-share amounts in this presentation are reported on a diluted basis. The only common equity securities that are publicly traded are common shares of Eversource Energy. The earnings discussion includes financial measures that are not recognized under gen
Slide 3: Q3 2023 Earnings Call Slides
EVERSOURCE ENERGY Q3 2023 Earnings Call Slides 2
Slide 4: Offshore Wind Project Summary
EVERSOURCE ENERGY Offshore Wind Project Summary South Fork Wind Revolution Wind Sunrise Wind Size 130 MW 704 MW 924 MW Final Investment Decision February 11, 2022 October 31, 2023 Anticipated in 1H 2024 Expected in service Early 2024 Late 2025 Late 2025 Onshore construction Pre-construction and site
Slide 5: Focus on Customer Needs Today, Tomorrow, and For Years to Come
EVERSOURCE ENERGY Focus on Customer Needs Today, Tomorrow, and For Years to Come Top decile reliability performance for customers Months Between Interruptions over 20 months YTD2023 Reliability #1 Ranked Energy ~$2 Billion MA clean Energy Clean Efficiency Provider Efficiency Customer Energy energy i
Slide 6: Massachusetts ESMP: A Collaborative Approach Enabling the Clean Energy Future
EVERSOURCE ENERGY Massachusetts ESMP: A Collaborative Approach Enabling the Clean Energy Future ESMP was submitted in full transparency bringing environmental justice, business, and consumer advocates to the table Electrification plans result in 2023 2024 2025 New England electric demand • Sep:
Slide 7: Third Quarter and Nine Months 2023 Financial Results
EVERSOURCE ENERGY Third Quarter and Nine Months 2023 Financial Results 3Q 2023 3Q 2022 3Q Change 9M 2023 9M 2022 9M Change Electric Transmission $0.46 $0.44 $0.02 $1.36 $1.32 $0.04 Electric Distribution 0.50 0.65 (0.15) 1.44 1.43 0.01 Natural Gas Distribution (0.10) (0.07) (0.03) 0.42 0.42 0.00 Wate
Slide 8: Impact of 2023 NSTAR Electric Rate Design Change on Quarterly EPS Distribution
EVERSOURCE ENERGY Impact of 2023 NSTAR Electric Rate Design Change on Quarterly EPS Distribution 2022 Non- Assuming Rate 2022 Pro Forma Non- % of Total GAAP Design Change GAAP Results if Rate EPS Results by Effective January Design Change Had Quarter 1st, 2022 Been Effective January 1st, 2022 Q1 $1.
Slide 9: Well Performing Core Businesses Drive EPS CAGR Solidly into Upper Half of 5–7% Through 2027
EVERSOURCE ENERGY Well Performing Core Businesses Drive EPS CAGR Solidly into Upper Half of 5 – 7% Through 2027 $4.30- $4.09 $4.43 $3.86 $3.64 $3.45 $3.11 $3.25 $2.81 $2.96 $2.53 $2.65 $2.28 2012A* 2013A* 2014A* 2015A* 2016A 2017A 2018A 2019A* 2020A* 2021A* 2022A* 2023E* 2024E 2025E 2026E 2027E * Re
Slide 10: Projected Capital Expenditures for Core Businesses
EVERSOURCE ENERGY Projected Capital Expenditures for Core Businesses $21.5 Billion 2023-2027 $5,000 $4,463 $4,373 $4,434 $4,500 $4,304 $215 $219 $170 $213 $244 $3,945 $4,000 $3,786 $203 $218 $194 $3,541 $208 $266 $235 $3,500 $1,035 $239 $155 $1,038 $1,146 $1,115 $3,064 $144 $ In Millions $3,000 $918
Slide 11: 2023 Parent Debt and Equity Issuances and Maturities
EVERSOURCE ENERGY 2023 Parent Debt and Equity Issuances and Maturities 2023 Debt Issuances through October 2023 Equity Issuances through October Company Size/Coupon Maturity New Shares Parent $750M @ 5.45% Mar 1, 2028 $1.2 billion At-The-Market Program issued Parent $550M @ 5.45% Mar 1, 2028 2.17M
Slide 12: Eversource
EVERSOURCE ENERGY Eversource 11
Slide 13: Eversource - Largest New England Utility
EVERSOURCE ENERGY Eversource - Largest New England Utility Eversource Electric Customers 3.29 million Natural Gas Customers 890,000 Water Customers 237,000 Employees 9,900 Assets $56 billion 12
Slide 14: A Unique Investment Opportunity
EVERSOURCE ENERGY A Unique Investment Opportunity Projected long-term EPS growth: Solidly in the upper half of 5%-7% from core business o Electric transmission growth platform, about 35% of rate base o Continued O&M discipline o Natural gas system upgrades that include replacement of aging Transmi
Slide 15: Strengthening Climate Leadership
EVERSOURCE ENERGY Strengthening Climate Leadership 14
Slide 16: Industry-Leading Carbon Neutrality Goal Helps the New England Region Meet Its Targets
EVERSOURCE ENERGY Industry-Leading Carbon Neutrality Goal Helps the New England Region Meet Its Targets Eversource Targets Regional Targets Carbon Neutral By 2030 80+% GHG Reductions By 2050 Reducing electric line loss Industry-leading energy efficiency Lowering methane emissions programs from
Slide 17: Eversource Is Building On Our Commitment to Lower Emissions
EVERSOURCE ENERGY Eversource Is Building On Our Commitment to Lower Emissions 2021 GHG Footprint In 2019, we announced an industry 4% leading goal to reduce emissions from 5 7% key operational areas: 8% o Line loss 9% o Leaks from natural gas distribution 72% o Facilities o Vehicle fleet o Use of
Slide 18: Eversource's Strong Sustainability Profile Continues to Attract ESG, Infrastructure Investors
EVERSOURCE ENERGY Eversource’s Strong Sustainability Profile Continues to Attract ESG, Infrastructure Investors Number of ESG & Infrastructure Funds Holding Very strong ratings among leading ESG raters ES Shares One of the most diverse Boards in the utility 400 industry 79 300 95 Nation’s lead
Slide 19: Growing Regulated Capital Investment Requirements
EVERSOURCE ENERGY Growing Regulated Capital Investment Requirements 18
Slide 20: Key Elements Inside and Outside Our $21.5B Core Business Capital Investment Forecast
EVERSOURCE ENERGY Key Elements Inside and Outside Our $21.5B Core Business Capital Investment Forecast Included in Forecast Not Included Execution of updated capital ESMP incremental spend in MA investment forecast AMI in CT Recently approved Distributed Energy Resource projects in MA Elec
Slide 21: We Plan to Update 5-Year Regulated Cap Ex Plan Through 2028
EVERSOURCE ENERGY We Plan to Update 5-Year Regulated Cap Ex Plan Through 2028 During Year-End 2023 Earnings Call Provide annual updates for electric, gas and water distribution investments •Reliability, basic business/ safety, and peak load/ capacity/ substation projects are primary drivers of spend
Slide 22: Massachusetts Has Constructive Regulatory Frameworks in Place to Enable the Clean Energy Transition
EVERSOURCE ENERGY Massachusetts Has Constructive Regulatory Frameworks in Place to Enable the Clean Energy Transition MA Clean Energy Investments (2023-2027) Clean Energy Over $2 Billion Clean Energy Investment Plan Regulatory Support Mechanisms Advanced Metering Infrastructure Solar 24% Distributed
Slide 23: MA Grid Mod and AMI Update
EVERSOURCE ENERGY MA Grid Mod and AMI Update Grid Modernization Advanced Metering Infrastructure Key Customer Benefits Ongoing per Four-Year Plan Rate options to lower energy costs (2022-2025) Outages detected without customer reporting Approximately $205 million Easy access to near real-t