Uil Co. Ltd. · KRX:049520
Uil — Q1 2013 Earnings Presentation
20 slides from Uil's earnings presentation, May 2, 2013
Slide 1: 1Q 2013 Earnings Presentation
1Q 2013 Earnings Presentation May 3, 2013 Exhibit 99.2
Slide 2: Note to Investors
Note to Investors Certain statements contained herein, regarding matters that are not historical facts, are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These include statements regarding management’s intentions, plans, beliefs, expectations or for
Slide 3: 1Q '13 Earnings Summary
1Q ‘13 Earnings Summary 1Q ‘13 consolidated net income of $51.8M, or $1.01 per diluted share, an increase of $4.7M, or $0.09 per diluted share, compared to 1Q ’12 Earnings from all operating companies were higher than the same period last year Gas companies were not as negatively impacted by weather
Slide 4: Gas Conversions
Gas Conversions As of the end of 1Q ‘13, converted 4,787 households and businesses ‘13 target, 12,200 conversions 2011-2013 target is to convert 30,000-35,000 households and businesses to gas heating Converted 8,300 & 11,180 in ‘11 & ‘12 , respectively 2014-2016 target is to convert 55,000* househol
Slide 5: Gas Sales
Gas Sales Sales volume has declined due to lower normalized usage per customer (NUPC) From ’09, when the rate structure was established to 12/31/12, the average NUPC has declined by approximately 5.7% Gross margin decline over that period decreased earnings by approximately $0.09 per diluted share 1
Slide 6: Electric Distribution Rate Case
Electric Distribution Rate Case UI filed with PURA on 2/15/13 (details located in appendix) PURA Time Schedule* Information relating to the rate case can be found on the Regulatory page of the UIL website * as of 4/29/13 *
Slide 7: Regulatory and Legislative Update
T Regulatory and Legislative Update Other CT Regulatory Dockets DN 12-11-07 Superstorm Sandy DN 12-01-05RE01 Renewable Connections Program - Reconsideration CT Legislative – 2013 General Session ends June 5th HB 6360 – Implementation of CT’s CES Encourages expansion of natural gas and energy efficie
Slide 8: FERC ROE Complaint
FERC ROE Complaint * Challenge to Regional Transmission Base ROE: “206” complaint filed at FERC claiming that current approved base ROE on transmission investment of 11.14% is not just and reasonable ROE methodology updates were filed mid-April 2013 State complainants recommended a base ROE of 8.9%
Slide 9: FERC ROE Complaint
FERC ROE Complaint OIL Challenge to Regional Transmission Base ROE: Q “206” complaint filed at FERC claiming that current approved base ROE on transmission investment of 11.14% is not just and reasonable Q ROE methodology updates were filed mid-April 2013 = State complainants recommended a base ROE
Slide 10: 1Q '13 Financial Results by Business
1Q ‘13 Financial Results by Business * Amounts may not add due to rounding 1Q ‘13 Financial Results - Details * Consolidated UIL earnings 1Q ‘13 consolidated earnings of $51.8M, or $1.01 per diluted share, an increase of $4.7M, or 10% compared to the same period in ‘12 Electric distribution, CTA, Ge
Slide 11: 1Q '13 Financial Results - Details
1Q ‘13 Financial Results - Details * Gas distribution 1Q ‘13 earnings of $31.5M, or $0.62 per diluted share, an increase of $3.0M, or 11% compared to the same period in ‘12 Net income increase primarily attributable to: Increased sales volume due to colder weather, increased customer usage and custo
Slide 12: 1Q '13 Financial Results - Details
1Q ‘13 Financial Results - Details FT| L Gas distribution Q 1Q‘13 earnings of $31.5M, or $0.62 per diluted share, an increase of $3.0M, or 11% ve compared to the same period in ‘12 = Net income increase primarily attributable to: = Increased sales volume due to colder weather, increased customer usa
Slide 13: 1Q '13 Financial Results - Details: Gas distribution (cont.)
1Q ’13 Financial Results – Details * Gas distribution (cont.) Gross margin impact of weather, normalized usage per customer and growth – 1Q ‘13 compared to 1Q ‘12 Preliminary average ROEs* as of 3/31/13: SCG 6.31 – 6.51%, CNG 5.91 – 6.11% Preliminary average weather normalized ROEs* as of 3/31/13: S
Slide 14: Debt Maturities & Liquidity
Debt Maturities & Liquidity * Evaluating the impact of CT’s Comprehensive Energy Strategy, regulatory outcomes, current business plans and market conditions to determine potential timing and need for external equity Available Liquidity Debt Maturities ($M) Amounts may not add due to rounding * Remar
Slide 15: Affirming 2013 Earnings Guidance
Affirming 2013 Earnings Guidance *
Slide 16: Q&A
Q&A
Slide 17: UIL Holdings Corporation
BIL ot UIL HOLDINGS CORPORATION
Slide 18: Electric Distribution Rate Case
Electric Distribution Rate Case Electric Distribution Rate Case UI filed with PURA on 2/15/13 Need for Rate Relief To recover past and fund future capital investments necessary to meet the needs of our customers for safe and reliable service Need for a more competitive return on equity to be more in
Slide 19: '13 Earnings Guidance Assumptions - cont.
‘13 Earnings Guidance Assumptions - cont. as of 2/22/13 Gas Distribution ‘11 & ‘12 gas conversions are expected to add approximately $0.10 per diluted share Assumes normal weather in ’13 ‘12 was negatively impacted compared to normal weather, net of weather insurance, of approximately $0.14 per dilu
Slide 20: '13 Earnings Guidance Assumptions - cont.
‘13 Earnings Guidance Assumptions - cont. wil L as of 2/22/13 Gas Distribution a a SE G3 §* a ‘11 & ‘12 gas conversions are expected to add approximately $0.10 per diluted share Assumes normal weather in ‘13 = ‘12 wasnegatively impacted compared tonormal weather, net of weather insurance, of approxi