Consolidated Edison, Inc. · NYSE:ED
Consolidated Edison — Bank of America Merrill Lynch Presentation (February 2016)
14 slides from Consolidated Edison's conference presentation, Feb 22, 2016
Slide 1: Con Edison Competitive Energy Businesses
February 22, 2016 Con Edison Competitive Energy Businesses
Slide 2: Forward-Looking Statements and Non-GAAP Financial Measure
Forward-Looking Statements This presentation includes certain forward-looking statements intended to qualify for safe-harbor provisions of the Federal securities laws. Forward-looking statements are statements of future expectation and not facts. Words such as "expects," "estimates," "anticipates,"
Slide 3: Corporate Structure
Corporate Structure CED, a subsidiary of CEI, owns and operates renewable and energy infrastructure projects and is the sixth largest owner and operator of solar facilities in North America Market Cap(1): $ 19.9 billion Issuer Ratings: A3 / A- / BBB+ Regulated Utilities Con Edison Transmission Compe
Slide 4: Con Edison Development: Overview
Con Edison Development: Overview • Formed in 1997 • Refocused its strategy in 2009 – Renewable assets – Energy Infrastructure assets • Ranked # 6 in North America for PV ownership • Over 1 GW owned --- Over 2 TWh annual production Re-launched Acquired 144 Issued 25 year CED acquired Entry into First
Slide 5: Con Edison Development: Overview (Cont'd)
Con Edison Development: Overview (Cont’d) CED Strengths CED Ranks #6 in North America in Solar 1,200 • Project development 1,000 800 MW AC • Construction 600 400 • O&M 200 - • Asset management Source: IHS EER (as of year-end 2014) CED Renewable Investment Strategy Disciplined Growth of CED Renewable
Slide 6: Asset Summary - Operating
Asset Summary - Operating Project Name Location (State) Technology In-Service Date MW (DC) MW (AC) Utility Scale Wholly owned projects Flemington Solar New Jersey Solar 2011 10 8 Frenchtown I, II and III New Jersey Solar 2011-13 17 14 PA Solar Pennsylvania Solar 2012 12 10 California Solar 2 Califor
Slide 7: CED Asset Geographic Diversification
CED Asset Geographic Diversification Con Edison Competitive Energy Businesses 7
Slide 8: CED Capital Spend
CED Capital Spend 1000 Projection Actual 900 800 778 600 Millions $ 466 400 431 335 320 320 200 147 55 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 Year Con Edison Competitive Energy Businesses 8
Slide 9: CED Project Financing
CED Project Financing 800 600 Millions $ 400 587 455 200 390 142 28 0 2011 2012 2013 2014 2015 2016 Year Note: Includes project financing for 50%-owned projects Con Edison Competitive Energy Businesses 9
Slide 10: CED Net Income
CED Net Income 50 Asset Sale Benefits Actual 40 27 30 Millions $ 17 20 28 10 18 18 5 3 0 2011 2012 2013 2014 2015 Year Con Edison Competitive Energy Businesses 10
Slide 11: Financial Profile – Solar $200M project cost (100 MWac)
Financial Profile – Solar $200M project cost (100 MWac) Contracted Revenue stream and increasing Net Income over life of asset ($ in Millions) $98 $12 $8 $5.5 $5.5 5.00 Net Income Cash flow 4.00 3.00 2.00 1.00 0.00 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Con Edison Competitive Energy Busi
Slide 12: CED Purchased 132 MWdc / 106 MWac Texas Solar 7
CED Purchased 132 MWdc / 106 MWac Texas Solar 7 Transaction Summary Project Description • On December 18, 2015, CED purchased from OCI • 132MWdc /106 MWac Texas Solar 7 is located in Solar Power 100% 132MWdc / 106 MWac Texas Haskell County, TX Solar 7 • The Alamo projects benefit from a 25-year PPA
Slide 13: Texas Solar 5 Uvalde, Texas
Texas Solar 5 Uvalde, Texas Oak Tree Energy Wind, SD – 20 MW Broken Bow II, NE – 75 MW Campbell County Wind, SD – 95 MW Con Edison Competitive Energy Businesses 13
Slide 14: Thank You
Thank You Con Edison Competitive Energy Businesses 14
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