Edison International · NYSE:EIX
Edison International — Investor Presentation (March 2009)
29 slides from Edison International's investor presentation, Mar 16, 2009
Slide 1: Edison International Business Update March 16, 2009
Exhibit 99.1 Exhibit16, Leading Business March EDISON 2009 99.1 the Update INTERNATIONAL® 2009 Way in Electricity SM
Slide 2: Forward-Looking Statements
Leading Forward-Looking Statements not differ International’s represent March 1 purely EDISON materially 16, the our historical, 2009 contained Way expectations 2008 from inStatements INTERNATIONAL®Electricity Form are in current this forward-looking 10-K only presentation expectations. SM as and of
Slide 3: Value drivers and investment highlights
Value Southern Rate 3-year Decoupled Pass Growth Strong Leading Edison Option Renewables 5,000 Solar Current No Structurally Disciplined Flexible March 2 significant EDISONthrough base development MW Drivers Cost 16, financial public Mission for stable options: the business California growth 2009 co
Slide 4: Southern California Edison (SCE)
Leading16, Southern March 3 EDISON the California 2009 Way in Electricity Edison (SCE) INTERNATIONAL® SM
Slide 5: SCE Key Highlights
Leading One 13 4.9 50,000 Key California Federal CPUC Energy Earnings SCE March 4 million million of regulators EDISONHighlights Service 16, jurisdictional the square-mile cost Energy the model driven and Public 2009 residents nation’s customer Way changes Territory Regulatory by in Utilities CPUC l
Slide 6: SCE Rate Base Forecast
Leading SCE Base Low $ Solar Edison Generation 6.5 Transmission Distribution 5-Yr % 2012 Other FERC Total 1 2 3 variability March 5 009 Billions % Subject Based Low 32Case3 EDISONCapital Base Case CPUC 20.4 100 Rooftop CPUC Rate Case 16, SmartConnect™ on the to $5 100 Case experienced 2009 $3.4 2.7
Slide 7: SCE 5-Year Capital Investment Forecast
Leading SCE $ $20 $25 5-Yr 2008 Base Low 1 approvals; spending 2 March 6 Billions Forecast Reflects $15 Case2 Rate EDISONCAGR Case 2009 16, $10 the for Base Low 2009 as $12.6 (3) 2010 $14.2 Way $5 DPV2. ofFERC Case Forecast $0 March 2011 $14.5 in $15.8 Electricity See INTERNATIONAL®from construction
Slide 8: SCE Additional Transmission Projects
Leading SCE Additional Transmission NEVADA Antelope Territory Windhub Vincent Los Verde San Project 2009-2013 In-Service Phase Renewables Tehachapi 119 1,830 1,537 Licensing Rancho Reliability 3,486 Other 36 2009 Construction Total 2,226 Various Grand 774 2011 Licensing2 DPV2 Economic 2,262 1 6,522
Slide 9: SCE SmartConnect Program
Leading SCE Integrate CPUC Total Full Provide Reduce March 8 Edison EDISONSmartConnectTM project 16, approved GHG energy the Homes Smart 2009 SmartConnectTM Way cost: emissions efficiency Appliances deployment with in$1.7 Electricity the INTERNATIONAL® billion Program byUtility benefits, 365,000 wit
Slide 10: SCE Solar Rooftop Program
Leading SCE Install 1-2 $0.9 Subject 5 2 Third CPUC SCE’s 1 March E 9 DISON ALJ MWMW billion Solar site proposed 250 Program in 16, granted to the average Fontana Chino INTERNATIONAL® planned CPUC 2009 Rooftop MW capital Wayauthority launch started of decision rooftop project in approval completed f
Slide 11: Edison Mission Group (EMG)
Leading16, Edison March EDISON 10 Mission the INTERNATIONAL® 2009 WayGroup in Electricity (EMG) SM
Slide 12: EMG Operating Platform and Pipeline
Leading EMG Washington California Arizona Utah Oklahoma Nevada Texas Iowa Minnesota Nebraska Illinois Wisconsin Wyoming New West Coal Pennsylvania Maryland Operating C % 75 7,395 Other 10 962 14 1,339 9 1 153 Wind 100 Under Turbines 4,994 Pipeline 223 Thermal 942 Natural MW 479 ,849 oal York Mexico
Slide 13: EMG Midwest Generation Statistics
Leading EMG Midwest $47 $13 All-in $60 Homer $49 31,100 29,961 28,898 80.0% 80.4% 74.1% 81.0% 75.8% 79.3% $40 $23 $20 $/MWh $26 $0 •Average Total 2008 2007 2006 Load 11,334 13,649 12,286 Equivalent 84.6% 92.4% 90.7% 1 80.7% 89.4% 81.9% PJM and 2 March EDISON 125,471 Powder Rail 1,884 Northern Coal O
Slide 14: EMG Midwest Hedge Status
Leading EMG Status Midwest 2011 2010 2009 Energy 9,945 Load $76.40 $68.61 $65.44 Northern 1,571 $63.65 612 6,555 11,516 Rail 11.7 17.7 Homer 100% Total Average 2,662 4,096 Coal — $90.53 $82.94 1 0.3 0.6 5.1 2 1.2 March EDISON 13At See million cost December under estimated Requirement the Hedge at 16
Slide 15: EMG Homer City Capacity Status
Leading EMG Status Jan Jun Megawatts Midwest Homer Installed Less: 5,477 1,884 5,776 (113) (895) (71) (548) (214) (471) (159) (1,939) Fixed RPM 820 2,957 Non-unit $102.04 $111.92 $122.412 Net Price 723 880 Variable $72.84 $64.35 Third Expected 905 — Capacity Total $56.56 $— Average 1,771 4,582 1,813
Slide 16: MWG Environmental Compliance Installation Plan
Leading MWG Installation Estimated NOX Current SO2 Emissions Firm Average Homer Use Additional Next EMG 1 materials 10-K 2 3 4 March EDISON 15The Cost Except Includes of Reductions Steps deadlines for Reductions Environmental continues is has MWG Compliance estimates 16, existing City compliance als
Slide 17: Edison Mission Marketing and Trading
Leading Edison Markets Hedges Typically Target Proprietary Primarily Largely Enters Controls VaR; EMMT $195 $50 2003 1 16 Income $34 March EDISON$200 2004 EaR; hedge-neutral into Mission Trading key in 16,$23 the energy on atransmission-related eastern stress $164 2005 load rolling trading from powe
Slide 18: EMG Strategic Wind Development
Leading EMG Strategic Contributes Objective Growing Production Mainly Wind Projects No. Projects1 Under 962 22 In-Service MW Total Development 1,185 25 Purchased Turbines 4,994 39 1 329 86 Vestas 240 Mitsubishi 150 27 Clipper 161 Siemens 286 300 439 GE Suzlon 109 Zond 2 3 March EDISON 1723 Data Deve
Slide 19: EMG Focus on Solar
•Leading Focus solar southwestern EMG March EDISON 18 Large-scale Ground Connected Identified Processing Formed insolation Solar is on 16, seeking the high mounted INTERNATIONAL® strategic 2009 over Program Way to interconnection (20-100 United transmission areas to 30 inrelationship deploy sites El
Slide 20: EMG Estimated Capital Expenditures
Leading EMG Estimated (in MWG 2011 2010 2009 $76 $106 $65 Homer 48 Plant Environmental 55 29 8 Growth 32 Projects 73 O — 232 706 T 7 9 35 (a) $144 $416 $964 Capital Pending Completion No Development Use 1 pipeline no March EDISON 194otal urbine ther EMG assurance See Millions) decision cash capital
Slide 21: 2009 Earnings Guidance Reconciliation
Leading Reconciliation 2009 High Low Non-Core — Midpoint $3.20 $3.05 $2.90 EIX 0.70 $2.49 SCE (0.14) Include Assume 48% 11.5% $50-150 EMG •Other 1 company March EDISON 202009 Potential Forward EMMT Increased Pre-tax Prior Normal No Excludes Seeparent core GAAP Edison changes Equity Earnings Guidance
Slide 22: Appendix
Leading16, March Appendix EDISON 21 the INTERNATIONAL® 2009 Way in Electricity SM
Slide 23: Full-Year Reconciliation
Leading Full-Year Reconciliation 1.72 $2.25 $2.07 Variance 2008 2007 (0.13) (0.10) Non-core $0.15 $3.84 Total — (0.46) $(0.25) $0.10 Basic $0.21 $(0.15) $(0.36) Diluted $0.36 $3.69 $3.33 Core $0.37 $3.68 $3.31 $0.18 Midwest Higher 0.19 ($0.05) Homer (0.04) New Natural 0.07 (0.14) EMMT2 Corporate 0.0
Slide 24: EIX Third-Party Obligations
Leading EIX Third-Party •Intercompany Southern International Edison 1 10-K March EDISON 23No Ordinary Long-standing Unregulated Mission and is EIX for a16, Mission Capital the focused EMG aCalifornia INTERNATIONAL® guarantees cross-default obligation Energy 2009 complete course Obligations Wayinvest
Slide 25: Liquidity Sources
Leading Liquidity Sources EIX EMG SCE Total1 Credit $5,100 $1,500 $1,100 $2,500 Cash 1,652 1,188 793 385 Available 3,923 333 1,976 1,614 Edison $5,575 $1,521 $2,055 $1,999 1 2 from 3 4 March EDISON 24Total Excludes EMG SCEParent subsidiaries &Facility amounts 16, amounts International available shor
Slide 26: Key Regulatory Case Events
Leading Case Date Next Status 11/19/07 GRC 2009 FERC 08/01/08 ER08-1343 Rate Decision 12/09/04 Tehachapi Draft 06/28/07 Final Service DPV ACC: Continuing 05/01/06 Depending 04/11/05 Petition expected SCE A. Hearings 03/21/08 Oral 1 March EDISON 25CPUC 07-11-011 04-12-007/8 07-06-031 05-04-015 08-03-
Slide 27: EMG Midwest Q4 Comparative Results
Leading EMG Q4 M % Variance 2008 2007 26,010 22,503 6,606 5,062 1,139 31,100 29,961 10% 692 7,484 6,792 Total 5,090 7,458 878 1,730 81.0% 75.8% 14.3% 81.5% 67.2% (1.4)% 8.3% 9.7% (11.8)% 6.3% 18.1% Energy Load 6% $3.03 $51.82 $48.79 (4)% ($1.93) $47.07 $49.00 (1)% ($0.79) $62.64 $63.43 (2)% ($1.50)
Slide 28: EMG Reconciliation of EBITDA
Leading EMG Reconciliation Net 2008 2007 Addback $561 $410 Discontinued 561 412 Interest 288 323 Income (37) (101) Depreciation 272 170 Production 1,281 976 EBITDA1 197 172 Discrete 44 28 Gain Loss (49) (1) Charge 241 Adjusted 23 — 1 $1,299 $1,244 2 March EDISON 27Seeincome Production on Use –16, to
Slide 29: Use of Non-GAAP Financial Measures
Leading Use Edison and accurately EPS share. securities principal EBITDA gain assessing A referenced March EDISON 28reconciliation Exchange EPS of on by16, Non-GAAP International’s the principal the by operating is INTERNATIONAL® the (vested compare 2009 in sale defined principal Way relative the Co
Edison International — Investor Presentation (March 2009) on 6ix