Public Service Enterprise Group Incorporated · NYSE:PEG
Public Service Enterprise — Investor Presentation (May 2015)
11 slides from Public Service Enterprise's investor presentation, May 18, 2015
Slide 1: Forward-Looking Statement
Forward-Looking Statement EXHIBIT 99 Certain of the matters discussed in this report about our and our subsidiaries' future performance, including, without limitation, future revenues, earnings, strategies, prospects, consequences and all other statements that are not purely historical constitute “f
Slide 2: GAAP Disclaimer
GAAP Disclaimer PSEG presents Operating Earnings and Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) in addition to its Income from Continuing Operations/Net Income reported in accordance with accounting principles generally accepted in the United States (GAAP). Oper
Slide 3: Operating Earnings
Operating Earnings Disciplined investment program and focus on operational excellence have supported growth Operating Earnings* Contribution by Subsidiary Power’sdiversefuel mix and dispatch flexibility continue to generate strong ** earnings and free cash flow in low price environment PSE&G’sinvest
Slide 4: PSE&G's existing major Transmission projects are being completed on schedule and on budget
PSE&G’s existing major Transmission projects are being completed on schedule and on budget Major Transmission Investments 100% Inclusion Recovery Estimate Expected Approved Project Roster of CWIP in of Costs Up To In-service ROE Rate Base Due to ($ Millions) Date Abandonment Susquehanna-Roseland 12.
Slide 5: PSE&G's 2015 operating earnings expected to benefit from increased investment in Transmission
PSE&G’s 2015 operating earnings expected to benefit from increased investment in Transmission *SEE SLIDE A FOR ITEMS EXCLUDED FROM NET INCOME TO RECONCILE TO 37 OPERATING EARNINGS. E =ESTIMATE. DATA AS OF MARCH 2, 2015.
Slide 6: PSEG Power Nuclear is a critical element of our success
PSEGPowerNuclear is a critical element of our success Salem Peach Bottom Hope Creek Units 1 and 2 Units 2 and 3 • Operated by PSEG Nuclear • Operated by PSEG Nuclear • Operated by Exelon • PSEG Ownership: 100% • PSEG Ownership: 57% • PSEG Ownership: 50% • Technology: Boiling Water • Technology: Pres
Slide 7: Power's 2015 operating earnings maintain solid performance
Power’s 2015 operating earnings maintain solid performance Power Operating Earnings* ($ Millions) 2015 Observations • 75-80% hedged at $52/MWh • Increase in average hedge price for energy helps mitigate reset in capacity price and volume * SEE SLIDE A FOR ITEMS EXCLUDED FROM NET INCOME TO RECONCILE
Slide 8: PSEG 2015 Guidance for Operating Income by Subsidiary and PSEG Power Adjusted EBITDA
PSEG2015 Guidancefor OperatingIncome– by Subsidiary and PSEGPowerAdjustedEBITDA PSEG Power Adjusted EBITDA** $ millions (except EPS) 2015E 2014 PSEG Power $1,545 - $1,645 $1,584 * SEESLIDEAFORITEMSEXCLUDED FROMNETINCOMETORECONCILE TOOPERATING EARNINGS; INCLUDESTHEFINANCIALIMPACT FROMMARK-TO-MARKETPO
Slide 9: PSEG Summary
PSEG Summary • Our 2014 earnings of $2.76 exceeded our revised operating earnings guidance of $2.60 -$2.75 per share • Continued third year of anticipated positive earnings trend in 2015 with operating earnings guidance of $2.75 to $2.95 per share • Continued 5th straight year of expected double dig
Slide 10: Items Excluded from Income from Continuing Operations/Net Income to Reconcile to Operating Earnings
Items Excluded from Income from Continuing Operations/Net Income to Reconcile to Operating Earnings PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED For the Year Ended Reconciling Items, net of tax December 31, 2014 2013 2012 2011 2010 2009 Earnings Impact ($ Millions) (Unaudited) Operating Earnings $ 1
Slide 11: Items Excluded from Net Income to Reconcile to Operating Earnings and Adjusted EBITDA
Items Excluded from Net Income to Reconcile to Operating Earnings and Adjusted EBITDA PSEG Power Adjusted EBITDA Reconcilation Three Months Ended Year Ended Reconciling Items March 31, December 31, 2015 2014 2014 ($ Millions, Unaudited) Adjusted EBITDA $ 626 $ 651 $ 1,584 Fossil Major Maintenance, p
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