Nstar Electric Co. · OTC:NSARO
Nstar Electric — Gabelli Best Ideas Conference 2012
13 slides from Nstar Electric's conference presentation, Dec 13, 2012
Slide 1: Gabelli Best Ideas Conference
S Northeast Gabelli Best Ideas Conference ii’ Utilities December 13, 2012 Wr mE AE wg iyi Aaa
Slide 2: NU Safe Harbor Provisions
NU Safe Harbor Provisions This presentation includes statements concerning NU’s expectations, beliefs, plans, objectives, goals, strategies, assumptions of future events, future financial performance or growth arid other statements that are not historical facts. These statements are “forward-looking
Slide 3: New NU Has Extensive Scale and Scope
Northeast ZI Viilities New NU Has Extensive Scale and Scope Combined, the new NU is now: Providing reliable electric & gas service to: * 3.5 million electric and gas customers +Leveraging investments for our customers & shareholders: + $12.4 billion combined rate base (2011) “Serving 525 cities & to
Slide 4: Regulatory and Business Segment Data
Northeast Utilities Regulatory and Business Segment D Rate Base By State / Federal Rate Base By Business MA pute’ Y istribution 31% 52% NH 12% Electric Generation 6% Electric Gas Transmission Distribution 32% 25% 10% Combined 2011 Rate Base: $12.4 billion
Slide 5: Creating Superior Value: Growing the Transmission and Gas Businesses
Northeast Y Utilities <% 2 Creating Superior Value Growing the Transmission and Gas Businesses
Slide 6: The Regulatory Environment: NU Business Segments Have a High Level of Rate Certainty
Northeast Utilities The Regulatory Environment: NU Business Segments Have a High Level of Rate Certainty NSTAR Electric Rates frozen through 12/31/15; NSTAR Gas reconciling adjustments continue to WMECO operate Rates frozen through 11/30/14; ee CL&P. reconciling adjustments continue to Distribution
Slide 7: Review of FERC-Approved Transmission ROEs
Northeast |, Utilities Review of FERC-Approved Transmission ROEs 13.50% 13.00% 12.50% 12.00% 11.50% 11.00% 10.50% 10.00% 12.80% 13.10% 12.56% 12.64% 11.64% 11.14% LocalNetwork Regional —-NorthemPass 2005-2008 NEEWS M-N Service Network Service Regional Underground Base Projects I NU's Local Network S
Slide 8: NEEWS Transmission Update
Northeast Utilities NEEWS Transmission Update Projected in-service: late 2013 + Joint project with National Grid (NU in CT; +Project 85% complete as of 9/30/12 NGrid in MA & Ril) ‘Total projected NU cost: $718 milion * All major permitapplications filed * CT siting hearings are complete with decisio
Slide 9: Northern Pass Transmission Project Overview
Northeast ZX Viilities Northern Pass Transmission Project Overview 1,200 MW clean energy * $1.1 billion HVDC line, terminaland AC facilities + Participant-funded structure; no impacton the Regional Transmission Rate + Uses HVDC technology at +/- 300-kV with AC/DC converters in Quebecand NH + AC radi
Slide 10: CT Governor's Energy Policy Addresses State's Dependence on Higher-Cost Fuel Oil
CT Governor's Energy Policy Addresses State’s Dependence on Higher-Cost, Higher-Emission Fuel Oil CT & MA Residential Gas Heating CT Residential Market Penetration by Penetration vs. Nearby States Heating Source 80% 72% 60% 6 50% 60% 53% 48% 47% 40% 40% 31% 31% 20% 20% 15% i = 0% o% 4 Ee NJ NY RI MA
Slide 11: Projected EPS Growth and Beyond
» Northeast Projected EPS Growth 13 and Beyond Major Drivers vs. 2012 Normal weather Lower interest costs Additional transmission rate base PSNH, Yankee Gas transmission relial projects, including NEEWS Northern Pass Transmission Increase in gas conversions Increased cost savings distribution rate i
Slide 12: Dividend Growth In-Line with Earnings Growth
Northeast Utilities Dividend Growth In-Line with Earnings Growth $0.95 Annualized Dividend 2009 2010 2011 Q1 2012 Q2-04 2012
Slide 13: Hurricane Sandy Update
Hurricane Sandy Update About half — 1.5M of NU’s electric customers were impacted Over 10,000 FTEs