Public Service Enterprise Group Incorporated · NYSE:PEG
Public Service Enterprise — Investor Presentation (September 2013)
12 slides from Public Service Enterprise's investor presentation, Sep 24, 2013
Slide 1: Forward Looking Statement
EXHIBIT 99 Forward Looking Statement Certain of the matters discussed in this communication about us and our subsidiaries • any inability to balance our energy obligations, available supply and risks, future performance, including, without limitation, future revenues, earnings, strategies, • any det
Slide 2: GAAP Disclaimer
GAAP Disclaimer PSEG presents Operating Earnings in addition to its Income from Continuing Operations/Net Income reported in accordance with accounting principles generally accepted in the United States (GAAP). Operating Earnings is a non- GAAP financial measure that differs from Net Income because
Slide 3: PSE&G's Energy Strong Capital Program addresses new reality
PSE&G’s Energy Strong Capital Program addresses new reality New ten-year, $3.9 Billion Infrastructure Program filed February 2013 with the NJBPU to strengthen PSE&G’s distribution system focusing on hardening and resiliency Plan to invest an additional $1.5 Billion in transmission grid over the ten-
Slide 4: 68 local NJ towns and 6 counties support Energy Strong
68 local NJ towns and 6 counties support • 68 municipalities and six counties (Bergen, Hudson, Mercer, Passaic, Somerset and Union) have approved resolutions in support of Energy Strong, PSE&G’s infrastructure proposal to improve and fortify its electric and gas distribution systems • The Energy Str
Slide 5: PSEG First Half 2013 Highlights
PSEG First Half 2013 H - ighlights Maintaining 2013 operating earnings guidance of $2.25 -$2.50 per share Strong earnings: First half 2013 earnings of $1.33 per share vs. $1.28 in year-ago period Power benefitting from higher capacity prices and asset location PSE&G seeing results from increased inv
Slide 6: 2013 Operating Earnings
2013 Operating Earnings* Investment in the Percent of Operating Earnings Contribution by Subsidiary regulated business has changed the $3.09 $3.12 $2.74 $2.44 $2.25 -$2.50E earnings mix Other Our 2009-2013 61% 47% investment focus has 52% brought us to a 50/50 69% Power 76% mix for 2013 PSE&G’s 2013
Slide 7: PSE&G's 2013 operating earnings
PSE&G’s 2013 operating earnings benefiting from transmission growth and cost containment initiatives PSE&G Operating Earnings* ($ Millions) $580 - $635E $528 2012 2013 Guidance *SEE SLIDE A FOR ITEMS EXCLUDED FROM INCOME FROM CONTINUING E= ESTIMATE 45 OPERATIONS/NET INCOME TO RECONCILE TO OPERATING
Slide 8: Maintaining 2013 operating earnings guidance
Maintaining 2013 operating earnings guidance Based on our performance year-to-date, we expect full year operating earnings to be at the upper end of guidance, assuming normal weather and unit operations PSEG Operating Earnings $ Millions (except EPS) 2013E PSEG Power $535 - $600 PSE&G $580 - $635 PS
Slide 9: PSEG Summary
PSEG Summary • Maintaining 2013 operatingearningsguidanceof $2.25 - $2.50 per share --based on financial results to date, we expect operating earnings for the full year to be at the upper end of our guidance range assuming normal weather and unit operations • Double digit operating earnings growth a
Slide 10: Slow economic recovery in NJ is constraining growth in all market sectors
Slow economic recovery in NJ is constraining growth in all market sectors 2013 - 2015 Modest residential growth limited ProjectedSalesGrowth – Gas* by housing market inactivity and the slow economic recovery 0.5% 0.4% 0.3% Consumer spending is trending 0.0% with the slow economic recovery and impact
Slide 11: Items Excluded from Income from Continuing Operations/Net Income to Reconcile to Operating Earnings
Items Excluded from Income from Continuing Operations/Net Income to Reconcile to Operating Earnings (Unaudited) For the Year Ended Pro-forma Adjustments, net of tax December 31, 2012 2011 2010 2009 2008 Earnings Impact ($ Millions) Gain (Loss) on Nuclear Decommissioning Trust (NDT) Fund Related Acti
Slide 12: Items Excluded from Income from Continuing Operations/Net Income to Reconcile to Operating Earnings
Items Excluded from Income from Continuing Operations/Net Income to Reconcile to Operating Earnings PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED Reconciling Items Excluded from Income from Continuing Operations/Net Income to Compute Operating Earnings (Unaudited) Three Months Ended Six Months Ended
Public Service Enterprise Group — Investor Presentation (September 2013) on 6ix