Consolidated Edison, Inc. · NYSE:ED
Consolidated Edison — Wolfe Research Utilities and Power Leaders Conference 2017
19 slides from Consolidated Edison's conference presentation, Sep 27, 2017
Slide 1: Consolidated Edison, Inc. Wolfe Utilities & Power Conference
CONSOLIDATED EDISON, INC. Wolfe Utilities & Power Conference September 27, 2017
Slide 2: Available Information and Forward-Looking Statements
Available Information On August 3, 2017, Consolidated Edison, Inc. issued a press release reporting its 2Q 2017 earnings and filed with the Securities and Exchange Commission it’s 2Q 2017 Form 10-Q. This presentation should be read together with, and is qualified in its entirety by reference to, the
Slide 3: Complementary Business Mix with Utilities at the Core
Complementary Business Mix with Utilities at the Core LTM GAAP EPS Contribution(1) Regulated Utilities 89% Clean Energy 8% Transmission 3% 1. Last Twelve Month figures as of 6/30/17. 3
Slide 4: Opportunities for Growth Across Our Businesses
Opportunities for Growth Across Our Businesses 2017 – 2019 Capital Investment $9.4 billion $1.25 billion $0.5 billion Regulated Utilities Clean Energy Transmission 4
Slide 5: Reforming the Energy Vision (REV) Presents Opportunities as Industry Evolves
Reforming the Energy Vision (REV) Presents Opportunities as Industry Evolves Track 1 Utilities play central role in integration of distributed energy resources into system while customers and third parties own customer-sited resources Track 2 Incentives and new earnings opportunities added to ratema
Slide 6: Renewables portfolio (75% solar)
1.5+ GW Renewables portfolio (75% solar) Ranked #5 among solar PV owners in North America 6
Slide 7: Regional Transmission Opportunities Include Gas and Electric
Regional Transmission Opportunities Include Gas and Electric Executing on existing projects and pursuing additional strategic growth opportunities across the region Stagecoach • 2017 re-contracting season complete 45.7% ownership • Performing in-line with expectations Mountain Valley Pipeline 50% ow
Slide 8: Con Edison: Poised for a Powerful Future
Con Edison: Poised for a Powerful Future • Regulated utility serving growing customer base – $49 billion asset base ranks among largest transmission and distribution utilities in the United States • Steady earnings, growing dividend – 43 consecutive years of dividend growth • Attractive capex opport
Slide 9: Appendix
Appendix S conEdison, inc.
Slide 10: The Con Edison Plan
The Con Edison Plan Customer Focused Strategic Value Oriented _________________ ________________ ____________________ Strengthen core utility Ensure safety and delivery business Provide steady, reliability ________________ predictable earnings _________________ ____________________ Enhance the custo
Slide 11: Capital Expenditures
Capital Expenditures ($ in millions) (1) Actual Forecast 1. 2016 includes Stagecoach JV initial investment of $974 million. 11
Slide 12: Utility Capital Expenditures
Utility Capital Expenditures ($ in millions) 12
Slide 13: Pursuing Non-Traditional Utility Growth: Smart Meters
Pursuing Non-Traditional Utility Growth Smart Meters Approved capital investment • NYSPSC authorized deployment for $1.4 billion at CECONY and O&R $10 • First smart meters installed in July 2017 $29 Capital Expenditures ($ millions) • Customer engagement plan includes AMI awareness, education, and r
Slide 14: New York Public Service Commission (NY PSC) Update
New York Public Service Commission (NY PSC) Update • Two new commissioners confirmed in June 2017, reducing the number of open seats to one Commissioners John Rhodes (D) Chair Gregg Sayre (D) Diane Burman (R) James Alessi (R) Feb-2021 Feb-2018 Feb-2024 Feb-2021 Open Seat Appointed June Appointed Jun
Slide 15: Composition of Regulatory Rate Base
Composition of Regulatory Rate Base(1) (as of June 30, 2017) CECONY ($ in millions) Electric NY $ 18,227 Gas NY 4,497 Steam NY 1,427 Total CECONY $ 24,151 O&R ($ in millions) O&R Electric NY $ 747 O&R Gas NY 376 RECO NJ 211 Total O&R $ 1,334 Total Rate Base $ 25,485 1. Average rate base for 12 month
Slide 16: Forecasted Average Rate Base Balances
Forecasted Average Rate Base Balances ($ in millions) $29,364 $27,913 $26,630 O&R CECONY 2017 2018 2019 Electric $ 18,902 $ 19,530 $ 20,277 CECONY Gas 4,841 5,395 6,005 Steam 1,519 1,531 1,538 Electric 746 784 832 O&R Gas 392 423 448 RECO Electric 230 250 264 16
Slide 17: Regulated Utility Rates of Return and Equity Ratio
Regulated Utility Rates of Return and Equity Ratio (12 Months ended June 30, 2017) Regulated Basis Allowed Actual CECONY Electric 9.0% 9.2% Gas 9.0 9.0 Steam 9.3 7.9 Overall – CECONY 9.0(1) 9.1 CECONY Equity Ratio 48.0% 48.7% O&R Electric 9.0% 8.0% Gas 9.0 11.4 RECO 9.6 7.3 Overall – O&R 9.1(1) 8.8
Slide 18: Long-Range Plan Financial Outlook
Long-Range Plan Financial Outlook Utilities continue to be the core of the business mix • Contracted renewables and new, contracted electric & gas transmission complement utility growth • Add energy infrastructure and services opportunities as technology and markets develop 2016 Earnings per Share C
Slide 19: 2016 EPS Reconciliation by Company
2016 EPS Reconciliation by Company For the year ended December 31, 2016 CECONY O&R CED CEE CES CET(1) Parent Total Reported EPS – GAAP basis $3.52 $0.20 $0.08 $0.01 $0.30 $0.07 $(0.03) $4.15 Gain on sale of retail electric supply business - - 0.03 - (0.22) - - (0.19) Goodwill impairment related to e
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