Tokyo Electric Power Company Holdings, Incorporated · TSE:9501
Tokyo Electric Power — Investor Presentation (September 2004)
14 slides from Tokyo Electric Power's investor presentation, Sep 6, 2004
Slide 1: Revision of Electricity Rates and Revision of FY 2004 Projections
Revision of Electricity Rates and Revision of FY 2004 Projections September 6, 2004 Tokyo Electric Power Company
Slide 2: Regarding Forward Looking Statements (Performance Projections)
Regarding Forward Looking Statements (Performance Projections) Certain statements in the following presentation regarding Tokyo Electric Power Company’s business operations may constitute “forward looking statements.” As such, these statements are not historical facts but rather predictions about th
Slide 3: Table of Contents
Table of Contents 2 1 Overview of Revision of Electricity Rates and Revision of 3 FY 2004 Projections 2-1 Revision of Electricity Rates: Calculation Factors 4 2-2 Revision of Electricity Rates: Regulated Segment 5 2-3 Existing Rate Menu (Optional Contracts) 6 2-4 Revision of Electricity Rates: Retai
Slide 4: Overview of Revision of Electricity Rates and Revision of FY 2004 Projections
1 Overview of Revision of Electricity Rates and Revision of FY 2004 Projections 3 Electricity Rate Revision Market Environment High-voltage customers contracting for 500 kW or more (from April 2004) Intensifying Further liberalization All high-voltage customers (from April 2005) competition Competit
Slide 5: 2-1 Revision of Electricity Rates: Calculation Factors
2-1 Revision of Electricity Rates: Calculation Factors 4 Calculation of Costs: Calculation Factors Cost calculation period One year (2nd half of FY 2004 and 1st half of FY 2005) Capital expenditures ¥538.8 billion Fuel costs Foreign exchange rate: ¥109/$; crude oil price $34.8/bbl (Both figures are
Slide 6: 2-2 Revision of Electricity Rates: Regulated Segment
2-2 Revision of Electricity Rates: Regulated Segment 5 Regulated Segment Cumulative reduction of about 40% over 12 times since the provisional reduction of 1986. Electricity rate reductions (since start of liberalization) Results of past efforts to enhance Reduction of nearly 20% efficiency future i
Slide 7: 2-3 Existing Rate Menu (Optional Contracts)
2-3 Existing Rate Menu (Optional Contracts) 6 Time-of-Day Lighting Service (night-time 8-hour and 10-hour type [Otokuna-night-8 and Otokuna-night-10]) Lighting and low-voltage Time-of-Use Lighting Service (Denka Josu) customers Electric Kitchen House Service (Smile-Cooking Discount) Low-Voltage High
Slide 8: 2-4 Revision of Electricity Rates: Retail Wheeling and Self-Service Wheeling
2-4 Revision of Electricity Rates: Retail Wheeling and Self-Service Wheeling 7 Retail Wheeling Service Charges Unit: ¥/kWh New unit price Old unit price Change Revision rate Extra high voltage 2.64 (2.22) 2.85 (2.42) -0.21 -7.37% (-8.66%) High voltage 4.99 (4.57) 5.40 (4.98) -0.41 -7.59% (-8.24%) No
Slide 9: Market Environment
3 Market Environment 8 TEPCO Customers Competitors PPS Air conditioning demand Absorption air conditioning systems Corporate Heat storage systems, etc. Water heating demand and large- Boilers scale Production processes System electricity demand Self-generation Lighting and power (cogeneration) deman
Slide 10: Results of the Switch! Campaign
Enriching your life with 4 Results of the Switch! Campaign electricity 9 1. Objective Promotion of an understanding of the benefits of the all-electric system, IH Cooktops, and Eco Cute 2. Campaign Period From April 15 to May 31, 2004 3. Promotion Program • Focused publicity campaign using mass medi
Slide 11: 5-1 Outlook for Interim FY 2004
5-1 Outlook for Interim FY 2004 10 (in billion yen) Operating Operating profit Ordinary profit Net interim revenues income Consolidated 2,460.0 345.0 260.0 170.0 Initial projection Non-consolidated 2,400.0 340.0 260.0 170.0 Current revised Consolidated 2,510.0 395.0 320.0 175.0 projection Non-consol
Slide 12: 5-2 Outlook for FY 2004
5-2 Outlook for FY 2004 11 (in billion yen) Operating Operating profit Ordinary profit Net interim revenues income Consolidated 5,030.0 585.0 410.0 265.0 Initial projection Non-consolidated 4,890.0 570.0 400.0 260.0 Current revised Consolidated 5,050.0 510.0 355.0 195.0 projection Non-consolidated 4
Slide 13: 5-3 Sales Outlook, Key Factors, and Financial Influence
5-3 Revision of Electricity Sales Outlook, Key Factors, and Financial Influence 12 Electricity Sales Outlook Unit: billion yen/kWh 1st half projection Difference Full year projection Difference 2nd half Current Initial projection Current Initial (A) (B) (A-B) (A) (B) (A-B) Lighting 44.3 (43.1) 1.2 4
Slide 14: Summary
6 Summary 13 Efficiency Efficiencygains gainsthrough throughcompany-wide company-widestreamlining streamlining Efficiency gains distributed based on “profit sharing” concept Free cash flow Target: ¥550 billion or more (average FY ’04-‘06) Rate reduction Interest-bearing Investment in Dividends debt
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