Consolidated Edison, Inc. · NYSE:ED
Consolidated Edison — Deutsche Bank Securities 2003 Electric Power Conference
42 slides from Consolidated Edison's conference presentation, Jun 9, 2003
Slide 1: inc.
inc. GconEdison,
Slide 2: We Never Left the Basics
We Never Left the Basics Deutsche Bank Securities 2003 Electric Power Conference New York, NY Joan S. Freilich Executive Vice President & Chief Financial Officer June 10, 2003 onEdison,
Slide 3: Forward-looking statements
This presentation contains forward-looking statements, which are statements of future expectations and not facts. Actual results or developments might differ materially from those included in the forward-looking statements because of factors such as competition and industry restructuring, changes in
Slide 4: Consolidated Edison, Inc.
Consolidated Edison, Inc. ° + Core strengths ° Value as investment Maintaining our edge ° Balance sheet strength and flexibility onEdison, inc.
Slide 5: Consolidated Edison, Inc.
Consolidated Edison, Inc. NYSE ticker ED Stock price (52-week range) $32.65-$46.02 Shares outstanding 224 million Market capitalization $10 billion P/E ratio (2003E First Call) 14.9x Current dividend yield Over 5% onEdison,
Slide 6: A Compelling Dividend Record: consecutive years of dividend increases
A Compelling Dividend Record: 29 consecutive years of dividend Increases Annualized Dividend 1975-2003 Payout Ratio ss ‘om 2 om 200 yr oh fi Me ’ ms boil 1% 71% tii 10% 10% ay / os at - 0.30 oh wi - Payout ratios for 2000 and 2002 exclude one-time merger fasted and replacement power charges and the
Slide 7: Total Return to Shareholders
Total Return to Shareholders Average annual total returns for periods ending December 31, 2002 15) 10-/ 11% = 0.6% = Con Edison = S&P Electrics S&P 500 46.4
Slide 8: Common Stock Issued
Common Stock Issued Size of Issue: 8.7 million shares Greenshoe exercised: 870,000 shares Proceeds: Approximately $380 million Use of Proceeds: Primarily for Con Edison Company of New York construction expenditures Lead Managers: Citigroup / Merrill Lynch onEdison, inc.
Slide 9: Keys to Our Success
Keys to Our Success « Unwavering strategic focus + Low risk business model + Constructive regulatory relationships + Conservative business philosophy that seeks to maintain financial strength + Disciplined approach to non-regulated business opportunities « Highest standards of corporate governance a
Slide 10: Focus Remained on Core Business Through All Industry Changes
Focus Remained on Core Business Through All Industry Changes ¢ 1997 «1999 «1999 ¢ 2001 + 2002 Reached historic electric restructuring accord Divested fossil electric generation Completed acquisition of ORU Sold Indian Point 2 Began East River repowering
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Slide 12: 2003 1st Quarter Earnings Per Share of $0.72
2003 1st Quarter Earnings Per Share of $0.72 Major Factors Affecting Earnings 1 Quarter 2003 Compared With 2002 EPS (8) Con Edison of New York: Impact of cold weather in 2003 vs. mild weather in 2002 0.13 Sales growth from factors other than weather 0.06 Reduced net credit for pensions & OPEB (0.08)
Slide 13: Business Profile
Business Profile Regulated Business Service Area Con Edison Company of NY * 32,763 miles of overhead distribution lines * 89,910 miles of underground distribution lines * 4,249 miles of gas mains * 87 miles of steam mains * 3.1 million electric customers + 1.4 million gas customers + 1,838 steam cus
Slide 14: Business Profile
Business Profile Regulated Business Service Area Orange and Rockland Utilities * 5,109 miles of overhead distribution lines * 2,630 miles of underground distribution lines * 1,795 miles of gas mains * 285,000 electric customers * 120,000 gas customers
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Slide 16: Rate Agreements Provide Regulatory Stability with Incentives
Rate Agreements Provide Regulatory Stability with Incentives . Long history of constructive rate agreements . Continued recovery of energy costs . Financial incentives for improved performance . Sharing of electric earnings above 11.75% ROE . Average earned ROE for past 10 years is 12.2% ° Rate agre
Slide 17: Our Supply/Demand Outlook
Our Supply/Demand Outlook + New York State * 18% capacity reserve in excess of peak load + Summer of 2002 - supplies were adequate + New York City + 80% of peak load from in-city supply + Remaining 20% plus 18% reserve can be from outside NYC * Summer of 2002 - met unprecedented demand reliably + Ne
Slide 18: Adequate New York City Capacity
Adequate New York City Capacity 2003 NYC Electric Power Outlook Peak load - NYC 11,020 MW Required in-city capacity (80%) 8,816 MW Actual in-city capacity 8,827 MW Import capability (approx.) 5,000 MW Supply from in-city and imported resources 125%
Slide 19: Helping to Ensure Adequate Electric Supply
Helping to Ensure Adequate Electric Supply December 2002 - Issued RFP for 500 MW of new capacity ° . Must be delivered in NYC for up to 10 years beginning May 1, 2006 . Must be in-city and combined-cycle or baseload . Contract awarded to Astoria Energy onEdison, inc.
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Slide 24: Planning for Growth and Reliability
Planning for Growth and Reliability Chelsea Area 2004 Before additional substation ovo» | Kips Bay & Greeley Square ~~ Greeley S4 % Customer Needs 260 MW z ween 8Y | available 260 Mw Reserve ow Chelsea Customer Needs ~ - 270 Mw Available 240 MW Deficit 30 MW
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Slide 29: East River Repowering
East River Repowering 2 GconEdison, inc.
Slide 30: First Avenue Location Map
First Avenue Location Map 85" deep at 20th St. - 4,100 feetlong.- 125" deep at 36th St 12 12 foot ore, 10 foot finished diameter
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Slide 32: Tunnel Boring Machine
Tunnel Boring Machine 2 GconEdison, inc.
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Slide 34: Lower Manhattan Rebuild
Lower Manhattan Rebuild « Cost — mostly capital - includes: « Emergency response « Temporary restoration + Permanent replacement of facilities « Federal reimbursement has been approved but not yet disbursed ¢ Cost incurred as of March 31, 2003 + $217 million onEdison,
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Link to searchable text of slide shown above Searchable text section of graphics shown above Exhibit 99 W e Never Left the Basics [PICTURE] [LOGO] De utsche Bank Securities 2003 Electric Power Conference New York, NY Joan S. Freilich Executive Vice President & Chief Financial Officer June 10, 2003 T
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