Dominion Energy, Inc. · NYSE:D
Dominion Energy — Corporate Update (March 2020)
12 slides from Dominion Energy's corporate update, Mar 27, 2020
Slide 1: Investor materials March 27, 2020
Investor materials March 27, 2020
Slide 2: Important note to investors
Important note to investors This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding Dominion Energy. The statements relate to, among other things, expectations, estimates and projections concerning the busines
Slide 3: COVID-19 update topics summary
COVID-19 Health, safety and well-being of employees and communities is first priority Early directives limiting travel, instituting work-from-home protocols, expanding health and PTO benefits for employees, suspending service disconnections, and donating over $1 million to relief efforts Usage trend
Slide 4: Dominion Energy Virginia electric demand
Dominion Energy Virginia electric demand Dom Zone weather-normalized aggregate daily load through March 25, 2020 Too early to tell on electric demand trends May see incremental residential load and decremental C&I load over time
Slide 5: Sales commentary by segment
Sales commentary Dominion Energy Virginia Gas Transmission & Storage Gas Distribution Dominion Energy South Carolina Contracted Generation Commentary Rider programs with annual true-ups for over/under-recovery (~40% of rate base) Industrial load accounts for only 6% of revenue (2019) Data centers co
Slide 6: Liquidity
Liquidity As of March 26, 2020 $6.0 $0.8 $5.5 ($2.2) $3.8 $0.9 Liquidity Commentary No draws on $6B master RCF Access to long-term debt market March 17: DEI HoldCo notes $400M @ 3.3% due 2025 $350M @ 3.6% due 2027 March 20: PSNC private-placement $200M @ 4.1% due 2030 Access to supplemental liquidit
Slide 7: Long-term debt financing plan and maturities
Segment Issuance range Required timing DEV $0.8—$1.0B 2H 2020; However, will be opportunistic based on market conditions GT&S $0.4—$0.7B Gas Dist. $1.6—$1.8B DEI $1.6—$1.9B Long-term fixed-income financings $0.2 $— $— $2.0 $2.2 2020 long-term debt maturities Rest-of-year long-term debt plan NOTE: No
Slide 8: Pension
Pension Consolidated funded status as of year-end1 85% 92% Commentary Funded status Re-measured only at year-end Current estimates of pension discount rates, based on basket of long-term corporate bond yields, have actually gone up since year-end which would have the effect of increasing funded stat
Slide 9: Virginia legislative session: zero-carbon generation targets
Establishes robust zero-carbon electric generation targets 100% zero-carbon by 2046 via renewable energy portfolio standard (RPS) Provides direction for deployment of wind, solar, and energy storage resources Includes customer protections for reliability Outlines regulatory approval criteria, proces
Slide 10: Virginia legislative session (cont'd)
Virginia legislative session (cont’d) Maintains triennial review framework and timing First triennial: 2017 through 2020 performance with 2021 regulatory review Second triennial: 2021 through 2023 performance with 2024 regulatory review Recovery period for unit retirements at Commission discretion N
Slide 11: Offshore wind, energy storage, solar and onshore wind targets
Offshore wind 5.2GW by 2035 incl. up to 3GW by 2028 Required Target(s) Yes Energy Storage 16.1GW by 2036 incl. 6GW by 2028 Solar & Onshore Wind 2.7GW by 2036 incl. 800MW pumped storage Yes Yes Highlighted emission reduction technologies
Slide 12: Appendix: Select bill references
Appendix Select bill references Topic Bill number and link Virginia Clean Economy Act SB 851 HB 1526 Regional Greenhouse Gas Initiative (RGGI) SB 1027 HB 981 Period expense treatment HB 528