Edison International · NYSE:EIX
Edison International — Corporate Update (September 2016)
13 slides from Edison International's corporate update, Sep 1, 2016
Slide 1: 2018 SCE General Rate Case Overview
September 1, 2016 2018 SCE General Rate Case Overview
Slide 2: Forward-Looking Statements
September 1, 2016 1 Forward-Looking Statements Statements contained in this presentation about future performance, including, without limitation, operating results, capital expenditures, rate base growth, dividend policy, financial outlook, and other statements that are not purely historical, are fo
Slide 3: SCE General Rate Case (GRC) Summary
September 1, 2016 2 • 2018 GRC Application (A. 16-09-001) filed September 1st • Addresses major portion of CPUC jurisdictional revenue requirement for 2018-2020 Includes operating costs and capital investment Excludes CPUC jurisdictional costs such as fuel and purchased power, cost of capital an
Slide 4: Items Carried Over from 2015 GRC and New Items from 2018 GRC
September 1, 2016 3 • Capital expenditures include $2.1 billion of proposed grid modernization capital to support improved safety and reliability and increased levels of distributed energy resources (DER) Requested approval to establish a memorandum account to facilitate $210 million of grid moder
Slide 5: SCE Capital Expenditure Forecast
September 1, 2016 4 SCE Capital Expenditure Forecast Note: Forecasted capital spending includes CPUC, FERC and other spending. See “Capital Expenditure/Rate Base Detailed Forecast” in Appendix. ($ billions) $3.8 $4.5 $5.0 $5.2 $4.9 2016 2017 2018 2019 2020 Distribution Transmission Generation Tradit
Slide 6: SCE Distribution System Investments
September 1, 2016 5 SCE Distribution System Investments 1. Other includes: Energy Storage, Charge Ready Pilot and Mobile Home Park Conversion Distribution Trends • Continued focus on safety and reliability with infrastructure replacement representing 46% of total distribution capital spend, but not
Slide 7: Grid Modernization Capital Spending
September 1, 2016 6 $0.03 $0.18 $0.64 $0.75 $0.71 2016 2017 2018 2019 2020 Building next generation electric grid will require accelerating traditional Transmission and Distribution / Information Technology programs and investing in new capabilities • Increased capacity: Upgrade portions of the grid
Slide 8: SCE Large Transmission Projects
September 1, 2016 7 SCE Large Transmission Projects Note: Total Project Costs are nominal direct expenditures, subject to CPUC and FERC cost recovery approval. 1. CPCN approved August 2016 2. Presently under CPUC environmental review 3. Morongo Transmission holds an option to invest up to $400 milli
Slide 9: SCE Rate Base Forecast
September 1, 2016 8 SCE Rate Base Forecast • Incorporates 2015 GRC final decision, except “rate-base offset” excluded because of write off of regulatory asset related to 2012-2014 incremental tax repairs • CPUC rate base based on request levels from 2018 GRC • FERC rate base is approximately 19% of
Slide 10: 2016 System Average Rate
September 1, 2016 9 (0.3¢) (0.5¢) (1.4¢) (0.1¢) 0.3¢ 0.4¢ 0.3¢ 2015 SAR 2015 ERRA Settlement 2015 GRC Expiration of Prior Refunds Other CPUC 2016 FERC 2016 ERRA Changes January 2016 SAR FERC Balancing Account June 2016 SAR 16.2¢ 14.9¢15.0¢ 2016 System Average Rate SCE’s system average rate is lowest
Slide 11: Appendix
September 1, 2016 10 Appendix
Slide 12: SCE Tax Memorandum Account
September 1, 2016 11 SCE Tax Memorandum Account • 2018 GRC continues tax accounting memorandum account (TAMA) established in 2015 GRC decision, which tracks tax benefits or costs associated with changes in: - tax accounting methods - tax laws and regulations impacting depreciation or tax repair - fo
Slide 13: Detailed Capital Expenditures – 2016-2020
September 1, 2016 12 Detailed Capital Expenditures – 2016-2020 2016 2017 2018 2019 2020 Total Core Distribution1,2 $2.9 $2.9 $3.2 $3.2 $3.1 $15.3 Mobile Home Park Conversion 0.1 0.1 - - - 0.2 Grid Modernization 0.0 0.2 0.6 0.8 0.7 2.3 Subtotal Distribution $3.0 $3.2 $3.9 $3.9 $3.8 $17.8 Transmission
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