Eversource Energy (d/b/a) · NYSE:ES
Eversource Energy (d/b/a) — Eversource Energy — EEI Financial Conference 2017
29 slides from Eversource Energy (d/b/a)'s conference presentation, Nov 3, 2017
Slide 1: Eversource Energy EEI Financial Conference
Exhibit 99.1 EVERSSURCE ENERGY Conte EEI Finar November 4-7, 2017
Slide 2: Safe Harbor Statement
EVERSSURCE Safe Harbor Statement All per-share amounts in this presentation are reported on a diluted basis. The only common equity securities that are publicly traded are common shares of Eversource Energy. The earnings and EPS of each business do not represent a direct legal interest in the assets
Slide 3: Eversource is leading the way
\ x ioe CONFERENCE EVERSSURCE ENERGY Eversource is leading the way — Providing clean energy solutions — Safe, reliable and affordable — Uniquely positioned New Englandis moving toward a low carbon electric economy — Embracing an 80% reduction carbon goal by 2050 Achieving this goal will require a gr
Slide 4: We Continue to Meet or Exceed Our Commitments to Investors
EVERSSURCE We Continue to Meet or Exceed Our Commitments to Investors Our Commitments: 1. Exceed industry EPS and dividend growth Four-year average O&M reduction 4%-5%/yr. | through 2016 3. Maintain strong financial condition Reliability and safety metrics significantly improved since 2012 5. Contin
Slide 5: EPS growth 2012-2020E
2012A* 2013A* 2014A* 2015A* 2016A 2017E 2018E 2019E 2020E “Excludes NU-NSTAR merger and integration costs. GAAP EPS were $1.89 in 2012; $2.49 in 2013; $2.58 in 2014 and $2.76 in 2015 a
Slide 6: Dividend Growth Continues to Outperform Peers
‘\ EEIFINANCIAL CONFERENCE i an! ee EVERSSURCE Dividend Growth Continues to Outperform Peers Annualized Dividend 2011 2012 2013 2014 2015 2016 2017 * Reflects impact of NU-NSTAR merger Payout Ratios: 58% 59% 59% LC
Slide 7: Capital Investment Initiatives
CAPITAL INVESTMENT INITIATIVES
Slide 8: $9.6 Billion 2017-2020 Capital Plan
CONFERENCE EVERSSURCE ENERGY $9.6 Billion 2017-2020 $3,000 $2,771 2,712 " i $2,566 $2,500 $2,209 $1,937 $2,000 = 5 $1,500 = $1,000 = 984 $500 ea $897 $984 5283" so L J 20158 20168 2017E 2018E* 2019E* 2020E* Etransmission Mf DistributionandMA Solar Other, Primarily IT * Timing of Northern Pass expend
Slide 9: Potential Additions to 2018 Capital Plan
\\ EEIFINANCIAL CONFERENCE Potential Additions to 2018 Capital Plan (To Be Finalized in February 2018) Potential Increase in Millions From February 2017 Plan p00 > «=| 575-5100 $2.77 Billion $2600 a $25- $75 $2,000 $150 - $200 “including solar $1,500 “um || $500 (ReTaBTSRIBBICA)> 550-5150 $0 Februar
Slide 10: Utility scale solar in Massachusetts
EVERSSURCE ENERGY Massachusetts law authorized 62 MW of utility scale solar in late 2016 (rate base assets) In response, Eversource has undertaken a fast track construction effort with 50 MW underway Construction on the remaining 12 MW will start by end of year Pittsfield = Installations will be bot
Slide 11: Progress on Major Transmission Reliability Projects
\. EE! (cae CONFERENCE an! ee EVERSSURCE ENERGY Progress on Major Transmission Reliability Projects Greater Boston Reliability Solutions Greater Hartford Central Connecticut + 28 projects including seven new transmission (GHCC) lines, new substations and substation expansion =. projects 4 7 + 12 pro
Slide 12: Bay State Wind offshore wind partnership
EVERSSURCE ENERGY ™ Eversource and @rsted leadership will provide a 1* of kind, large scale, offshore wind facility in the U.S. ™ 50-50 partnership in Bay State Wind ™ Proposed offshore wind farm 20-25 miles south of Martha’s Vineyard — 300 square mile ocean area can accommodate at least 2,000 MW of
Slide 13: Schedule for Massachusetts RFPs
EVERSSURCE ENERGY Schedule for Massachusetts RFPs 9.45 TWh Clean Energy RFP Offshore Wind RFP Event Date Event Date RFP issued March 31, 2017 RFP issued June 29, 2017 Proposals submitted July 27, 2017 Due date for submission of proposals |December 20, 2017| Selection of projects for negotiation —_|
Slide 14: Northern Pass: In the Home Stretch
Bey ‘ (Ge CONFERENCE ial al Bi EVERS: UR E Northern Pass: In the Home Stretch 1,090 MW of clean energy + Will provide significant benefits to the region: * Billions of dollars in total energy and capacity value through reduced wholesale market prices + Annual reduction of up to 4 million tons of CO,
Slide 15: Summary of Northern Pass Reviews
\ a \\ Eel (cae CONSRELC aa ‘a EVERSSURCE ENERGY Summary of Northern Pass Reviews DOE Presidential Permit USFS Permit for White Mountain National Forest Army Corps of Engineers Final EIS issued on 8/10/17 Draft Record of Decision issued on 9/1/17 Review nearing conclusion Record of Decision, Preside
Slide 16: EVERSSURCE
EVERSSURCE ENERGY
Slide 17: Energy Storage Demonstration
\\ EEIFINANCIAL CONFERENCE i EVERSSURCE ENERGY Additional Initiatives: Eversource Energy’s Storage Demonstration = $100 million Massachusetts Demonstration Initiative will provide experience with this technology to support deployment across our service territories* = In aggregate, we believe energy
Slide 18: Massachusetts Make-Ready EV Proposal
\ gues CONFERENCE a Pe EVERSSUR E Additional Initiatives: Our Massachusetts Make-Ready EV Proposal = First step to supporting electric vehicles in our service territory* = Weare evaluating similar proposals in CT & NH = We believe the total investment opportunity across the three states could reach
Slide 19: Regulatory
REGULATORY
Slide 20: MA and CT Electric Rate Reviews
\\ EEIFINANCIAL CONFERENCE i al MA Electric Rate Review January: + NSTAR Electric and WMECO filed applications to raise base distribution rates by $60 million and $36 million, respectively Decoupling for NSTAR Electric Permission to combine companies legally Implement performance-based ratemaking $4
Slide 21: New Hampshire Generation Divestiture
\ gues CONFERENCE an! ee EVERSSURCE New Hampshire Generation Divestiture Moving Toward Conclusion On October 12, 2017, PSNH filed with the NHPUC to approve the sale of all 1,200 MW Total proceeds of $258 million JP Morgan, auction adviser, has recommended sale approval PSNH to recover remaining gene
Slide 22: Acquisition of Aquarion
\\ EEIFINANCIAL CONFERENCE i s) al Eversource Poised to Enter Water Business With Acquisition of Aquarion EVERSSURCE Will unite New England's largest energy and water Service Territory companies, increasing Eversource’s customer base to nearly 4 million Enterprise value of $1.675 billion * $880 mill
Slide 23: Status of the Four New England Transmission Complaints at FERC
Bey ‘ (Ge CONFERENCE ial al El EVERSSURCE ENERGY Status of the Four New England Transmission Complaints Unclear at FERC = First complaint decided in 2014; FERC order resulted in base ROE of 10.57% and project incentive cap of 11.74% = Three-judge panel at D.C. Circuit Court of Appeals unanimously va
Slide 24: Financial
\\ EEIFINANCIAL CONFERENCE | all FINANCIAL
Slide 25: Q3 2017 earnings by business
Q3 2017 Q32016 Change YTD > $0.50 $0.53 ($0.03) $1.24 $1.20 $0.04 > $0.31 $0.28 $0.03 $0.91 $0.84 $0.07 ($0.02) ($0.02) ($0.00) $0.15 $0.16 ($0.01) wen omer $0.03 $0.04 ($0.01) $0.06 $0.04 $0.02 revonndersccnan) $0.82 $0.83 ($0.04) $2.36 $2.24 $0.12
Slide 26: 2017 Earnings Drivers
a) Lar tty all Th BI EVERSSUR \\ EEIFINANCIAL CONFERENCE i 2017 Earnings Drivers 2016 Reported EPS $0.83 $2.24 Higher transmission earnings in 2017 0.03 0.07 Lower non-tracked O&M in 2017 0.02 0.06 Lower retail electric revenues in 2017 (0.04) 0 =e ee oo depreciation and interest (0.03) (0.07) All o
Slide 27: 2017 and 2018 Maturities
EVERSSURCE ENERGY 2017 and 2018 Maturities 2017 Maturities J iamony | sw | sry ose | cos | nats | $150 CL&P 03/01 5.375% A2IA+IA+ $100 CL&P 09/01 5.75% A2IA+IA+ $70 PSNH 09/01 6.15% AIA+IA+ $25 NSTAR Gas 09/30 7.04% AtIAt $400 NSTAR Electric 115, 5.625% A2iA/A+ 2018 Maturities | icmony | se arn One|
Slide 28: 2017 Issuances
EVERSSURCE ENERGY 2017 Issuances ra Issuer Maturity Date Coupon Yield Rating) Eversource a $300 Eneay 2022 275% 278% Baa1/A/BBB+ $300 cLap 2027 3.20% 3.24% AQIAHIAY $350 NSTAR Electric 2027 3.20% 3.21% A2INIA+ $225, cLaP 2044 430% 3.71% A2IA+IA+ $75 Yankee Gas 2027 3.02% 3.02% A2 Eversource » 5 $450
Slide 29: Credit ratings
EVERSSURCE ENERGY EE! (nea CONFERENCE S&P: BBB+ S&P: A-; Positive Moody's: Baa2 Moody's: Baat; Stable Fitch: BBB+ Fitch: BBB+; Positive taeeas 3 s d s@P S&P: At; Positive Fitch: A u g upgrades ci Moody's: A2; Stable to A+ Fitch: A+; Stable Hoods: A2 S&P: A; Postive Fitch Ae Moody's: A2; Stable Fitch