Public Service Enterprise Group Incorporated · NYSE:PEG
Public Service Enterprise — Investor Presentation (March 2014)
8 slides from Public Service Enterprise's investor presentation, Mar 27, 2014
Slide 1: Forward-Looking Statement
EXHIBIT 99 Forward-Looking Statement Certain of the matters discussed in this communication about our and our subsidiaries’ • any deterioration in our credit quality or the credit quality of our counterparties, future performance, including, without limitation, future revenues, earnings, strategies,
Slide 2: GAAP Disclaimer
GAAP Disclaimer PSEG presents Operating Earnings in addition to its Income from Continuing Operations/Net Income reported in accordance with accounting principles generally accepted in the United States (GAAP). Operating Earnings is a non- GAAP financial measure that differs from Income from Continu
Slide 3: Operating Earnings Guidance
Operating Earnings Guidance Building on the successful implementation of our strategy $2.55 - $2.75E $2.58 $2.44 2012 2013 2014 Guidance SEE SLIDE A FOR ITEMS EXCLUDED FROM INCOME FROM CONTINUING O P ERA TI ON S / N ET I N COM E TO RE CON CI L E TO O PER AT I N G EAR NI NG S. E = E S TI M A TE . 8
Slide 4: Operating Earnings Mix
Operating Earnings Mix Long term investment program has driven increased earnings contribution from stable, regulated business Power’sdiversefuel mix Operating Earnings* Contribution by Subsidiary (%) and dispatch flexibility $2.55 - continues to generate $3.09 $3.12 $2.74 $2.44 $2.58 $2.75E earning
Slide 5: PSE&G's 2014 operating earnings
PSE&G’s 2014 operating earnings to benefit from increased investment in transmission and on-going cost control *SEE SLIDE A FOR ITEMS EXCLUDED FROM INCOME FROM CONTINUING OPERATIONS/NET INCOME TO E=ESTIMATE RECONCILE TO OPERATING EARNINGS. 45
Slide 6: Sustainable Advantage: PJM's capacity market
Sustainable Advantage:PJM’s capacity market is expected to continue to recognize locational value RPM Auction Results* $/MW-day 2012 / 2013 2013 / 2014 2014 / 2015 2015 / 2016 2016 / 2017 Power’s $153 $242 $166 $166 $166 Average Prices Rest of Pool $16 $28 $126 $136 $59 Prices Power’s Cleared 10,400
Slide 7: Improving Operating Earnings
Improving Operating Earnings and increased contribution from PSE&G PSEG Operating Earnings $ Millions (except EPS) 2012 2013 2014E PSE&G $528 $612 $705 - $745 PSEG Power $663 $710 $550 - $610 Other $45 ($13) $35 - $40 Operating Earnings* $1,236 $1,309 $1,290 - $1,395 Operating EPS* $2.44 $2.58 $2.55
Slide 8: Items Excluded from Income from Continuing Operations/Net Income to Reconcile to Operating Earnings
Items Excluded from Income from Continuing Operations/Net Income to Reconcile to Operating Earnings PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED For the Year Ended Reconciling Items, net of tax December 31, 2013 2012 2011 2010 2009 2008 Earnings Impact ($ Millions) (Unaudited) Operating Earnings $ 1
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