Exelon Corporation · NASDAQ:EXC
Exelon — Investor Presentation (March 2004)
9 slides from Exelon's investor presentation, Mar 11, 2004
Slide 1: Disciplined Financial Management Meeting with Investors March 10-12, 2004
Disciplined Financial Management Meeting with Investors March 10-12, 2004
Slide 2: 2004 Adjusted Operating EPS Guidance: $5.35 - $5.65
2003 Weather/Sales Ent. Losses CTC Depr./Nuc Outages )&M Expenses Pension/OPEB Genco RNF AmerGen Interest Exelon Way 2004 Invisible dataset 5.22 5.39 5.36 5.18 5.06 4.98 4.98 5.15 5.25 5.36 Green 5.22 0.17 0.29 0.32 0.18 0.12 0.08 0.17 0.1 0.11 0.3 5.65 2003 2004E Interest O&M Expenses ComEd CTC Gen
Slide 3: 2004 Cash Flow
2004 Cash Flow ($ in millions) 2004E Cash from Operations 3,880 Pension Funding (360) Net Cash from Operations 3,520 Requirements: Capital Expenditures (1,860) Common Dividends (730) Transition Debt (630) Total (3,220) Free Cash Flow Goal 300
Slide 4: Exelon Way Targets
Exelon Way Targets ($ millions) 2004 Annual Impact O&M* CapEx Total GenCo $ 80 $ 65 $ 145 $ 115 $ 125 $ 240 EED** 130 135 265 215 295 510 Total $ 210 $ 200 $ 410 $ 330 $ 420 $ 750 Cash Flow Summary 2004 Impacts GenCo $ 50 $ 65 $ 115 $ 71 $ 125 $ 196 EED 81 135 216 133 295 428 Total $ 131 $ 200 $ 331
Slide 5: Sources of Free Cash 2004-2006
Sources of Free Cash 2004-2006 ($ in millions) 2004-2006E The Exelon Way Commitment 1,000+ Resolution of Boston Generating and Sithe 400 Sale of Exelon Enterprises Businesses 200 Synthetic Fuels Investment 120 Total 1,720+
Slide 6: ComEd Bundled Tariff for Mass Market
ComEd Bundled Tariff for Mass Market 2003 Actual* 2007 Estimate RES SCI LCI LCI (< 3 MW) Non-Wires Rate 49 43 49.9 49.9 48.9 28 Line Losses 3 3 Wires Rate 25 31 35.1 15.1 10.1 3 77 77 Assumes 25% increase in wires charges to recover increased investment in transmission and distribution infrastructur
Slide 7: MAIN Region: Projected Peak Demand vs. Capacity
2004E 2005E 2006E 2007E 2008E 2009E 2010E (Peak Demand - Interruptibles) + 16% 64069 65518 67068 68761 70233 71791 73190 Capacity 68208 69103 69610 69602 70341 71868 73223 MAIN Region: Projected Peak Demand vs. Capacity Source: Platts
Slide 8: ICC Process
ICC Process ICC has committed to sponsor a workshop process on Post 2006 issues Commissioner Erin O'Connell-Diaz has been selected to chair the workshop committee; Commissioner Kevin Wright will serve on the Steering Committee Workshops are scheduled to begin April 29 with kick-off symposium and end
Slide 9: Positioned for Success
Positioned for Success Large, low-cost generation portfolio Nuclear dominated fleet Lowest cost generator in Illinois & Pennsylvania Positioned well for a competitive market Large, stable retail customer base Exelon Way Initiatives Cost Reduction Initiatives Revenue Initiatives Focused Financial Dis