This document summarizes Matthew Hilzinger's presentation at the Morgan Stanley Global Electricity & Energy Conference on April 3, 2008. Some key points include:
- Exelon is well positioned for continued strong performance in 2008 and beyond due to its large nuclear fleet and incremental cash flows.
- Generation is benefiting from improving market fundamentals.
- ComEd is progressing constructively in distribution rate case negotiations.
- Exelon is fully engaged in discussions regarding Harrisburg and poised to launch a low carbon strategy.
In 2008, AES Tietê saw 14% growth in EBITDA and net income. It proposed dividends of R$31 million. In subsequent events, it reversed R$13 million related to a generation agreement and proposed additional dividends of R$167 million. It also resolved a dispute over another generation agreement, reversing a R$13 million provision. For 2008, AES Tietê had generation 14% above contracted levels, with contracted energy fully covered through 2015. It aims to increase investments and capacity by 15% by 2007. Overall, it demonstrated strong financial results and cash flow generation in 2008.
Integrated Refining & Gasification Rbc 9 2009rcarpe
This document discusses the challenges facing refineries and how gasification can help address them. Refineries face issues like heavier crude oils producing more petcoke waste, and stricter emissions regulations. Gasification can help by using petcoke as a feedstock to produce hydrogen, synthesis gas, and power to export, reducing costs and emissions. Gasification also increases flexibility to process different crude types. Case studies show gasification integrated with existing refinery infrastructure and waste streams. GE has technology experience to provide gasification solutions.
How Economic Value Management can be Applied to Power Plant ManagementPar Sut
15-19 October 2012 at Bali Nusa Dua Convention Center (BNDCC)
Nusa Dua - Bali, Indonesia19th Conference of the Electric Power Supply Industry (CEPSI 2012)
co-author: W,Tirakhan
The presentation discusses renewable energy and solar power. It provides an overview of The Entech Group which offers engineering, construction, and energy services. The presentation also outlines various renewable energy sources including solar, geothermal, natural gas, and wind. It discusses federal energy laws and incentives for solar projects, including tax credits, deductions, and solar renewable energy certificates. Typical commercial solar installations are shown and how a solar photovoltaic system works is explained.
1) The document analyzes the global and national mitigation costs of alternative metrics for comparing greenhouse gases like 100-year global warming potentials (GWPs) and global temperature change potentials (GTPs).
2) It finds that while alternative metrics address some issues with GWPs, fixed 100-year GTPs are even less cost-effective than GWPs globally. Time-dependent GTPs that focus on temperature change in 2100 could be more cost-effective.
3) For New Zealand, the economic implications of alternative metrics depend on assumptions about agriculture emissions reductions and global climate policy scenarios more than the metrics alone.
Transmissão Paulista reported its 2007 financial results, which showed increases over 2006. Net income rose 7.7% to R$1.315 billion, while EBITDA increased 390.9% to R$1.129 billion. Personnel expenses declined 38.6% when adjusted for one-time effects. CTEEP operates over 12,000 km of transmission lines in São Paulo with high operational availability of 99.99% or above for its transmission assets.
In 2008, AES Tietê saw 14% growth in EBITDA and net income. It proposed dividends of R$31 million. In subsequent events, it reversed R$13 million related to a generation agreement and proposed additional dividends of R$167 million. It also resolved a dispute over another generation agreement, reversing a R$13 million provision. For 2008, AES Tietê had generation 14% above contracted levels, with contracted energy fully covered through 2015. It aims to increase investments and capacity by 15% by 2007. Overall, it demonstrated strong financial results and cash flow generation in 2008.
Integrated Refining & Gasification Rbc 9 2009rcarpe
This document discusses the challenges facing refineries and how gasification can help address them. Refineries face issues like heavier crude oils producing more petcoke waste, and stricter emissions regulations. Gasification can help by using petcoke as a feedstock to produce hydrogen, synthesis gas, and power to export, reducing costs and emissions. Gasification also increases flexibility to process different crude types. Case studies show gasification integrated with existing refinery infrastructure and waste streams. GE has technology experience to provide gasification solutions.
How Economic Value Management can be Applied to Power Plant ManagementPar Sut
15-19 October 2012 at Bali Nusa Dua Convention Center (BNDCC)
Nusa Dua - Bali, Indonesia19th Conference of the Electric Power Supply Industry (CEPSI 2012)
co-author: W,Tirakhan
The presentation discusses renewable energy and solar power. It provides an overview of The Entech Group which offers engineering, construction, and energy services. The presentation also outlines various renewable energy sources including solar, geothermal, natural gas, and wind. It discusses federal energy laws and incentives for solar projects, including tax credits, deductions, and solar renewable energy certificates. Typical commercial solar installations are shown and how a solar photovoltaic system works is explained.
1) The document analyzes the global and national mitigation costs of alternative metrics for comparing greenhouse gases like 100-year global warming potentials (GWPs) and global temperature change potentials (GTPs).
2) It finds that while alternative metrics address some issues with GWPs, fixed 100-year GTPs are even less cost-effective than GWPs globally. Time-dependent GTPs that focus on temperature change in 2100 could be more cost-effective.
3) For New Zealand, the economic implications of alternative metrics depend on assumptions about agriculture emissions reductions and global climate policy scenarios more than the metrics alone.
Transmissão Paulista reported its 2007 financial results, which showed increases over 2006. Net income rose 7.7% to R$1.315 billion, while EBITDA increased 390.9% to R$1.129 billion. Personnel expenses declined 38.6% when adjusted for one-time effects. CTEEP operates over 12,000 km of transmission lines in São Paulo with high operational availability of 99.99% or above for its transmission assets.
1 q08 financial and operating results presentationEquatorial
The document provides operating and financial results for Equatorial Energia for 1Q08. Key highlights include:
- Billed energy volume was down slightly year-over-year while losses declined.
- Net operating revenues increased 6.4% to R$560.5 million driven by growth at CEMAR.
- EBITDA rose 3.8% to R$165.1 million and net income increased 62% to R$71.7 million.
- Investments totaled R$70.1 million at CEMAR and R$93.2 million at Light.
The document discusses Vattenfall's ocean energy program and goals to become carbon neutral by 2050 by expanding their use of renewable energy sources like offshore wind and ocean energy. It provides details on Vattenfall's ocean energy projects underway, their ocean energy program structure, and goals to learn from pilot projects as they work to contribute to a more sustainable energy future. The document aims to provide background on Vattenfall's strategic direction and why they are pursuing ocean energy technologies.
Minnesota Power has made progress in reducing emissions and transitioning its energy portfolio, but faces ongoing environmental challenges. Emissions have been reduced 70% since 2005 through adding renewables like wind, efficiency programs, and upgrades to Boswell Unit 4. However, new EPA regulations could require further emission reductions at a higher cost, particularly for Minnesota Power's smaller, older coal units. The company's integrated resource plan aims to continue conservation, diversify fuel sources, accelerate carbon reduction through more wind and Manitoba hydro, while maintaining reliability and affordable costs. Moving forward, Minnesota Power will work to ensure regional energy remains balanced across these priorities.
energy future holindings 040108ConfCallDeck_FINALfinance29
The document is a transcript from an investor call held by EFH Corp. on April 1, 2008. It includes:
1) A safe harbor statement noting forward-looking statements are subject to risks and uncertainties outlined in SEC filings.
2) Regulation G statement that any non-GAAP measures discussed will be reconciled to GAAP measures in the appendix.
3) An agenda for the call including presentations on strategy/operations highlights and financial overview from the CEO and CFO, followed by Q&A.
This study compares the effects of different crop management practices for growing rye as an energy crop in Spain on energy balances and greenhouse gas emissions from electricity production. Six management scenarios were analyzed: two sowing densities combined with three top fertilization rates. Field trials were conducted for each scenario and results were compared to electricity from natural gas. A nitrogen balance was also calculated to assess the sustainability of lower nitrogen fertilization rates on soil nitrogen levels.
The San Francisco Tax Lien Financing Program provides secure financing for commercial building clean energy upgrades through property assessed clean energy (PACE) programs. PACE programs allow property owners to finance 100% of energy efficiency, renewable energy, and water conservation upgrades, with repayment as a line item on annual property tax bills for up to 20 years. This transfers repayment obligations to future owners and provides long-term, low-cost financing. Eligible projects include measures like cool roofs, HVAC upgrades, and lighting that reduce energy use and costs. An example projects saves $40,000 annually from $150,000 in energy savings, increasing the property value by $533,000 without direct costs to the owner.
The document provides operating and financial results for 2008 for CEMAR and Light. Key highlights include:
- Billed energy volume grew 1.4% to 9,271 GWh for the year. CEMAR's volume grew 4% while Light's was flat.
- CEMAR's energy losses were 28.2% and Light's were 20.23% in the fourth quarter.
- Consolidated net operating revenues grew 9.6% to R$2,346 million for the year. EBITDA grew 15.8% to R$784.4 million.
- The Board approved a proposed dividend payment of R$190.2 million and capital reduction of R$82.
Suzano is a large Brazilian pulp and paper producer that has significantly increased its production capacity over the last five years. It is now exploring opportunities in renewable energy from biomass. Suzano sees an opportunity to supply wood pellets to European utilities looking to increase their use of renewable sources. Suzano has extensive forestry research and development capabilities that have continuously improved forest yields and clones over decades, giving it a strong competitive advantage in the biomass energy business through its ability to produce high density, high yield energetic forests optimized for energy production.
AREVA, business & strategy overview - January 2009 - Appendix 1 to 6AREVA
1. Worldwide demand for electricity is projected to double by 2030, with investments in power generation and transmission expected to reach $11 trillion.
2. Nuclear power is presented as a necessary part of the solution for power generation due to its lack of carbon dioxide emissions, relatively low and stable generation costs, and access to uranium fuel resources.
3. A snapshot compares the efficiency, emissions, and costs of various energy technologies including nuclear power, coal, gas, wind, hydro, and biomass. Nuclear power has very low emissions but relatively high upfront capital costs.
enterprise gp holdings Organizational and Ownership Structure Chart finance9
- Dan L. Duncan, EPCO, Inc, Dan Duncan LLC and other affiliates own 77.44% of the ownership units of Enterprise GP Holdings L.P. as of April 30, 2008.
- The remaining 22.55% of ownership units are held by public investors.
- Enterprise GP Holdings L.P. owns the general partner interests and limited partner interests in Enterprise Products Partners L.P., Energy Transfer Equity L.P., and other related companies.
The document provides an overview and history of energy management initiatives within D-11 school district in Colorado Springs. It discusses benchmarking energy usage and costs since 1998, ongoing program initiatives to reduce usage and costs, and recent solar projects at several schools. Specific initiatives included energy audits, retrofits of building envelopes, controls, and lighting. Recent solar projects at 7 schools were estimated to save over $30,000 annually while paying for themselves within 8 years. A dashboard was created to monitor energy usage across the district.
The document summarizes CPFL Energia's financial results for 2Q07. Key highlights include an 18.2% increase in net revenue to R$2,224 million, a 23.5% increase in EBITDA to R$814 million, and a 20.9% increase in net income to R$369 million. Integration of the acquisition of RGE contributed to growth and resulted in cost reductions. CPFL Energia maintained its focus on value creation through organic and acquisition growth, operational efficiency, financial discipline, and sustainability.
The document provides an overview of Exelon Corporation's operating performance and financial projections for 2007 and 2008. Some key points:
- Exelon is projecting 2007 operating earnings between $2.8-2.9 billion and EPS of $4.15-4.30. For 2008, projections are $2.6-2.9 billion in operating earnings and $4.00-4.40 in EPS.
- Exelon has over $44 billion in assets and $13 billion in total debt. The credit rating for senior unsecured debt is BBB.
- Exelon's business segments include Illinois Utility, Pennsylvania Utility, and Exelon Generation power markets. Financial projections are provided for
Exelon reported lower third quarter 2008 earnings compared to third quarter 2007. Earnings were impacted by higher operating expenses, unfavorable weather, and economic factors. However, Generation saw higher energy margins. Exelon expects full-year 2008 earnings near the bottom of its guidance range. It also announced a 5% increase to its fourth quarter common stock dividend and provided operating earnings outlooks for its subsidiaries in 2008.
This document summarizes a presentation given by Tom O'Neill of Exelon Generation on the potential for a nuclear renaissance in the United States. It notes that while cost estimates for new nuclear plants range from $2400/kw to $4500/kw, a study showed that the levelized cost of electricity from new nuclear could be competitive even against other low-carbon alternatives. However, it acknowledges there is significant uncertainty around construction costs and timelines for new plants. Exelon advocates for policies that can help reduce risks and support long-term planning for new nuclear as one strategy in the nation's energy portfolio.
This document provides a summary of Exelon Corporation's second quarter 2007 financial results and outlook. Key points include:
- Reported GAAP earnings of $702 million compared to $644 million in Q2 2006. Adjusted operating earnings were $700 million compared to $577 million.
- Affirmed full-year 2007 adjusted operating earnings guidance of $4.00-$4.30 per share. Revised GAAP earnings guidance to $3.70-$4.00 per share.
- Announced a comprehensive electric rate settlement in Illinois that provides $1 billion in rate relief for customers over multiple years. Generation will contribute funding as a one-time transition to market rates.
Exelon Corporation at Lehman Brothers CEO Energy Conferencefinance14
This document provides an overview of Exelon Corporation and its competitive position in the energy industry. Exelon has a large, low-cost nuclear fleet that provides over half of its generating capacity. It also has a diverse fossil and hydro fleet. Exelon has delivered strong financial performance and shareholder returns. It aims to protect existing value while pursuing growth opportunities through competitive operations, supporting markets, financial discipline, and evaluating new projects. Key challenges include addressing climate change and supporting various energy policies.
Exelon announced its third quarter 2007 results, reporting GAAP earnings of $780 million compared to a loss of $44 million in third quarter 2006. Adjusted operating earnings were $823 million compared to $690 million in third quarter 2006, driven by higher energy margins and nuclear output. Exelon reaffirmed its 2007 adjusted operating earnings guidance range of $4.15-$4.30 per share and raised its GAAP earnings guidance range to $3.90-$4.20 per share. Key events in the quarter included an Illinois electric rate settlement providing $1 billion in customer rate relief over four years and Exelon initiating a $1.25 billion share repurchase program.
Merrill Lynch Global Power and Gas Conferencefinance14
This document summarizes Merrill Lynch's presentation at the 2008 Power & Gas Leaders Conference in New York on September 23, 2008. Some key points:
- Exelon is well positioned financially, with strong operations, a robust hedging program, and ample liquidity.
- Exelon's 2009 operating EPS is expected to be flat compared to 2008, as higher earnings from ComEd offset lower earnings from Exelon Generation.
- Exelon is uniquely positioned for sustainable value through its large nuclear fleet, competitive markets, and opportunities for growth.
The document provides an overview of Public Service Enterprise Group (PSEG). PSEG operates power generation, transmission, and distribution assets across the US and internationally. The CEO discusses PSEG's strategic position, with its nuclear, coal, and gas-fired power plants well-positioned in tight US markets. PSEG also has stable regulated utility businesses in New Jersey. The company has strengthened its balance sheet through asset sales and expects earnings growth through 2011 from its diverse portfolio of assets.
The document provides an overview of Public Service Enterprise Group (PSEG) and its subsidiaries PSEG Power and PSE&G. PSEG is positioned for growth with a diverse portfolio of assets including nuclear, fossil, and renewable generation, electric and gas distribution, and international energy investments. PSEG forecasts improved earnings over 2007-2008 driven by strong wholesale energy markets and investment in regulated transmission and distribution infrastructure. The company also expects to generate excess cash that will be used to reduce debt and fund further growth opportunities.
1 q08 financial and operating results presentationEquatorial
The document provides operating and financial results for Equatorial Energia for 1Q08. Key highlights include:
- Billed energy volume was down slightly year-over-year while losses declined.
- Net operating revenues increased 6.4% to R$560.5 million driven by growth at CEMAR.
- EBITDA rose 3.8% to R$165.1 million and net income increased 62% to R$71.7 million.
- Investments totaled R$70.1 million at CEMAR and R$93.2 million at Light.
The document discusses Vattenfall's ocean energy program and goals to become carbon neutral by 2050 by expanding their use of renewable energy sources like offshore wind and ocean energy. It provides details on Vattenfall's ocean energy projects underway, their ocean energy program structure, and goals to learn from pilot projects as they work to contribute to a more sustainable energy future. The document aims to provide background on Vattenfall's strategic direction and why they are pursuing ocean energy technologies.
Minnesota Power has made progress in reducing emissions and transitioning its energy portfolio, but faces ongoing environmental challenges. Emissions have been reduced 70% since 2005 through adding renewables like wind, efficiency programs, and upgrades to Boswell Unit 4. However, new EPA regulations could require further emission reductions at a higher cost, particularly for Minnesota Power's smaller, older coal units. The company's integrated resource plan aims to continue conservation, diversify fuel sources, accelerate carbon reduction through more wind and Manitoba hydro, while maintaining reliability and affordable costs. Moving forward, Minnesota Power will work to ensure regional energy remains balanced across these priorities.
energy future holindings 040108ConfCallDeck_FINALfinance29
The document is a transcript from an investor call held by EFH Corp. on April 1, 2008. It includes:
1) A safe harbor statement noting forward-looking statements are subject to risks and uncertainties outlined in SEC filings.
2) Regulation G statement that any non-GAAP measures discussed will be reconciled to GAAP measures in the appendix.
3) An agenda for the call including presentations on strategy/operations highlights and financial overview from the CEO and CFO, followed by Q&A.
This study compares the effects of different crop management practices for growing rye as an energy crop in Spain on energy balances and greenhouse gas emissions from electricity production. Six management scenarios were analyzed: two sowing densities combined with three top fertilization rates. Field trials were conducted for each scenario and results were compared to electricity from natural gas. A nitrogen balance was also calculated to assess the sustainability of lower nitrogen fertilization rates on soil nitrogen levels.
The San Francisco Tax Lien Financing Program provides secure financing for commercial building clean energy upgrades through property assessed clean energy (PACE) programs. PACE programs allow property owners to finance 100% of energy efficiency, renewable energy, and water conservation upgrades, with repayment as a line item on annual property tax bills for up to 20 years. This transfers repayment obligations to future owners and provides long-term, low-cost financing. Eligible projects include measures like cool roofs, HVAC upgrades, and lighting that reduce energy use and costs. An example projects saves $40,000 annually from $150,000 in energy savings, increasing the property value by $533,000 without direct costs to the owner.
The document provides operating and financial results for 2008 for CEMAR and Light. Key highlights include:
- Billed energy volume grew 1.4% to 9,271 GWh for the year. CEMAR's volume grew 4% while Light's was flat.
- CEMAR's energy losses were 28.2% and Light's were 20.23% in the fourth quarter.
- Consolidated net operating revenues grew 9.6% to R$2,346 million for the year. EBITDA grew 15.8% to R$784.4 million.
- The Board approved a proposed dividend payment of R$190.2 million and capital reduction of R$82.
Suzano is a large Brazilian pulp and paper producer that has significantly increased its production capacity over the last five years. It is now exploring opportunities in renewable energy from biomass. Suzano sees an opportunity to supply wood pellets to European utilities looking to increase their use of renewable sources. Suzano has extensive forestry research and development capabilities that have continuously improved forest yields and clones over decades, giving it a strong competitive advantage in the biomass energy business through its ability to produce high density, high yield energetic forests optimized for energy production.
AREVA, business & strategy overview - January 2009 - Appendix 1 to 6AREVA
1. Worldwide demand for electricity is projected to double by 2030, with investments in power generation and transmission expected to reach $11 trillion.
2. Nuclear power is presented as a necessary part of the solution for power generation due to its lack of carbon dioxide emissions, relatively low and stable generation costs, and access to uranium fuel resources.
3. A snapshot compares the efficiency, emissions, and costs of various energy technologies including nuclear power, coal, gas, wind, hydro, and biomass. Nuclear power has very low emissions but relatively high upfront capital costs.
enterprise gp holdings Organizational and Ownership Structure Chart finance9
- Dan L. Duncan, EPCO, Inc, Dan Duncan LLC and other affiliates own 77.44% of the ownership units of Enterprise GP Holdings L.P. as of April 30, 2008.
- The remaining 22.55% of ownership units are held by public investors.
- Enterprise GP Holdings L.P. owns the general partner interests and limited partner interests in Enterprise Products Partners L.P., Energy Transfer Equity L.P., and other related companies.
The document provides an overview and history of energy management initiatives within D-11 school district in Colorado Springs. It discusses benchmarking energy usage and costs since 1998, ongoing program initiatives to reduce usage and costs, and recent solar projects at several schools. Specific initiatives included energy audits, retrofits of building envelopes, controls, and lighting. Recent solar projects at 7 schools were estimated to save over $30,000 annually while paying for themselves within 8 years. A dashboard was created to monitor energy usage across the district.
The document summarizes CPFL Energia's financial results for 2Q07. Key highlights include an 18.2% increase in net revenue to R$2,224 million, a 23.5% increase in EBITDA to R$814 million, and a 20.9% increase in net income to R$369 million. Integration of the acquisition of RGE contributed to growth and resulted in cost reductions. CPFL Energia maintained its focus on value creation through organic and acquisition growth, operational efficiency, financial discipline, and sustainability.
The document provides an overview of Exelon Corporation's operating performance and financial projections for 2007 and 2008. Some key points:
- Exelon is projecting 2007 operating earnings between $2.8-2.9 billion and EPS of $4.15-4.30. For 2008, projections are $2.6-2.9 billion in operating earnings and $4.00-4.40 in EPS.
- Exelon has over $44 billion in assets and $13 billion in total debt. The credit rating for senior unsecured debt is BBB.
- Exelon's business segments include Illinois Utility, Pennsylvania Utility, and Exelon Generation power markets. Financial projections are provided for
Exelon reported lower third quarter 2008 earnings compared to third quarter 2007. Earnings were impacted by higher operating expenses, unfavorable weather, and economic factors. However, Generation saw higher energy margins. Exelon expects full-year 2008 earnings near the bottom of its guidance range. It also announced a 5% increase to its fourth quarter common stock dividend and provided operating earnings outlooks for its subsidiaries in 2008.
This document summarizes a presentation given by Tom O'Neill of Exelon Generation on the potential for a nuclear renaissance in the United States. It notes that while cost estimates for new nuclear plants range from $2400/kw to $4500/kw, a study showed that the levelized cost of electricity from new nuclear could be competitive even against other low-carbon alternatives. However, it acknowledges there is significant uncertainty around construction costs and timelines for new plants. Exelon advocates for policies that can help reduce risks and support long-term planning for new nuclear as one strategy in the nation's energy portfolio.
This document provides a summary of Exelon Corporation's second quarter 2007 financial results and outlook. Key points include:
- Reported GAAP earnings of $702 million compared to $644 million in Q2 2006. Adjusted operating earnings were $700 million compared to $577 million.
- Affirmed full-year 2007 adjusted operating earnings guidance of $4.00-$4.30 per share. Revised GAAP earnings guidance to $3.70-$4.00 per share.
- Announced a comprehensive electric rate settlement in Illinois that provides $1 billion in rate relief for customers over multiple years. Generation will contribute funding as a one-time transition to market rates.
Exelon Corporation at Lehman Brothers CEO Energy Conferencefinance14
This document provides an overview of Exelon Corporation and its competitive position in the energy industry. Exelon has a large, low-cost nuclear fleet that provides over half of its generating capacity. It also has a diverse fossil and hydro fleet. Exelon has delivered strong financial performance and shareholder returns. It aims to protect existing value while pursuing growth opportunities through competitive operations, supporting markets, financial discipline, and evaluating new projects. Key challenges include addressing climate change and supporting various energy policies.
Exelon announced its third quarter 2007 results, reporting GAAP earnings of $780 million compared to a loss of $44 million in third quarter 2006. Adjusted operating earnings were $823 million compared to $690 million in third quarter 2006, driven by higher energy margins and nuclear output. Exelon reaffirmed its 2007 adjusted operating earnings guidance range of $4.15-$4.30 per share and raised its GAAP earnings guidance range to $3.90-$4.20 per share. Key events in the quarter included an Illinois electric rate settlement providing $1 billion in customer rate relief over four years and Exelon initiating a $1.25 billion share repurchase program.
Merrill Lynch Global Power and Gas Conferencefinance14
This document summarizes Merrill Lynch's presentation at the 2008 Power & Gas Leaders Conference in New York on September 23, 2008. Some key points:
- Exelon is well positioned financially, with strong operations, a robust hedging program, and ample liquidity.
- Exelon's 2009 operating EPS is expected to be flat compared to 2008, as higher earnings from ComEd offset lower earnings from Exelon Generation.
- Exelon is uniquely positioned for sustainable value through its large nuclear fleet, competitive markets, and opportunities for growth.
The document provides an overview of Public Service Enterprise Group (PSEG). PSEG operates power generation, transmission, and distribution assets across the US and internationally. The CEO discusses PSEG's strategic position, with its nuclear, coal, and gas-fired power plants well-positioned in tight US markets. PSEG also has stable regulated utility businesses in New Jersey. The company has strengthened its balance sheet through asset sales and expects earnings growth through 2011 from its diverse portfolio of assets.
The document provides an overview of Public Service Enterprise Group (PSEG) and its subsidiaries PSEG Power and PSE&G. PSEG is positioned for growth with a diverse portfolio of assets including nuclear, fossil, and renewable generation, electric and gas distribution, and international energy investments. PSEG forecasts improved earnings over 2007-2008 driven by strong wholesale energy markets and investment in regulated transmission and distribution infrastructure. The company also expects to generate excess cash that will be used to reduce debt and fund further growth opportunities.
Exelon Corporation and Public Service Enterprise Group held a financial conference in Hollywood, Florida. The presentation included forward-looking statements and discussed 2005 performance and 2006 outlook for both companies. For PSEG, 2005 operating earnings are estimated between $770-810 million and EPS between $3.15-$3.35. Key events for PSEG in 2005 included improved nuclear operations, favorable energy market pricing, and ongoing regulatory proceedings.
Exelon Corporation and Public Service Enterprise Group provided an overview of their 2005 performance and 2006 outlook. Both companies exceeded their 2005 earnings guidance due to higher energy prices and improved operations. For 2006, Exelon expects continued earnings growth driven by its generation business, while PSEG forecasts stable earnings assuming normal weather and commodity prices. The companies are working to complete the divestiture requirements related to their pending merger approval.
AREVA, business & strategy overview - April 2009 - Appendix1AREVA
1. Worldwide demand for electricity is projected to double by 2030, increasing the need for power generation.
2. Nuclear power generation does not emit greenhouse gases and has low and stable generation costs, making it a critical part of the solution for meeting future energy needs.
3. Nuclear power has reliable operations and limited fuel price fluctuations due to low dependency on fuel costs compared to other generation sources.
The document provides guidance for the company's 2008 financial year. It summarizes the company's accomplishments in 2007, including improved profitability, debt reduction, and a successful IPO. Assumptions for 2008 include natural gas and oil price forecasts and hedge positions. The capital program and core earnings/cash flow estimates for 2008 are also presented. The pipelines business unit achieved growth in 2007 and has a $3 billion growth backlog moving forward.
The document provides guidance for the company's 2008 financial year. It summarizes the company's accomplishments in 2007, including reducing debt by over $2.5 billion. It outlines the company's assumptions for 2008 including natural gas and oil hedge positions. The document discusses the company's 2008 capital program and core earnings and cash flow estimates, forecasting net income between $760-835 million and discretionary cash between $235-450 million. It also summarizes the pipeline business unit's accomplishments in 2007 and growth backlog increasing to $3 billion.
This document provides an overview of MPX Energia S.A.'s participation in Brazil's A-5 energy auction in October 2008. The key highlights are:
- MPX was the only "base plant" (using hydroelectric or natural gas) to win a contract in the auction, which was dominated by peak plants (oil and open cycle LNG plants).
- Limited participation from large energy players resulted in higher costs for the power system during periods of low hydrological levels, as the A-5 auction secured 1,990 MW of oil on average compared to 811 MW in the previous auction.
- MPX decided not to bid its Porto do Açu project due to a
Presentation by Takaya Watanabe – General Manager, Sustainability Energy & Environment Strategic Planning Dept., Mitsubishi Heavy Industries, Ltd. at Tokyo CCS Financial Model Workshop, 3 September 2012.
The document summarizes AES Tietê's 2Q08 results. Generation was 28% above assured energy levels. EBITDA increased 24.2% to R$288.9 million compared to 2Q07, while net income decreased 5.6% to R$134.1 million. Proposed dividends of R$134.1 million were 100% of the quarter's net income. Overall the results showed higher generation and EBITDA growth compared to the previous year.
The document summarizes AES Tietê's 2Q08 results. Generation was 28% above assured energy levels. EBITDA increased 24.2% to R$288.9 million compared to 2Q07, while net income decreased 5.6% to R$134.1 million. Proposed dividends of R$134.1 million were 100% of the quarter's net income. Overall the results showed higher generation and EBITDA growth compared to the previous year.
Exelon Corporation at Edison Electric Institute 42nd EEI Financial Conferencefinance14
The document discusses a presentation by John F. Young, CFO of Exelon, at the Edison Electric Institute Conference in Orlando, Florida on November 5-6, 2007. It outlines Exelon's strategic positioning and financial outlook over the next 5 years, focusing on its utility and generation businesses. Key points include Exelon's transition to competitive markets in Pennsylvania, regulatory recovery plans at ComEd to reduce earnings lag, and Exelon Generation's large nuclear fleet which is well-positioned in a carbon-constrained environment. Projected earnings growth from 2007-2012 reflects improving market fundamentals and the expiration of below-market contracts.
The document is a transcript from Progress Energy's 4Q 2008 earnings call. It discusses Progress Energy's financial results for 4Q and full year 2008, highlights achievements that position the company well for 2009, and reviews major capital projects and regulatory initiatives. Progress Energy affirmed its 2009 ongoing earnings guidance of $2.95 to $3.15 per share. The call also provided updates on Florida rate filings and the Levy Nuclear Project.
The document provides an overview of a global supplier of emission and ride control systems, including financial performance, strategic initiatives to drive growth, new product pipelines, opportunities in emerging markets, and efforts to reduce costs through restructuring and lean manufacturing. It outlines the company's plan to achieve double-digit revenue growth through capturing demand for new emissions technologies, expanding in Asia and with growing automakers. The company also aims to enhance profitability by introducing new aftermarket products and optimizing its global manufacturing footprint.
Electric Auto Silicon Valley - E9 PG&E RatesPaul Stith
The document discusses PG&E's E-9A and E-9B electric vehicle charging rates and a directive for PG&E and other utilities in California to develop a submetering protocol. Specifically, it addresses:
1) PG&E's proposed changes to increase the E-9A and E-9B rates, which could increase bills for 80% of customers on those plans.
2) A directive for PG&E, SCE, and SDG&E to develop a submetering protocol to isolate electric vehicle charging loads from primary household loads to allow for application-specific utility rates.
3) A proposed four-phase plan for the utilities to develop an interim and then
Duke Energy Field Services provides quarterly reports on gas volume and margins by contract type. The report shows gas and natural gas liquids (NGL) volumes and margins for percentage of proceeds (POP) contracts, keepwhole contracts, and fee-based transportation and fractionation contracts for 2005 quarters 1-3 and 2004 quarters 3-4. Total margins were $528 million for quarter 3 2005 and $417 million for quarter 3 2004.
GC Environmental Commodities Newsletter - July 2011Rameez Shaikh
The newsletter summarizes the latest news and developments in the carbon market from the previous month. It highlights that CDM project registration and issuance reached record levels in June. The EU clarified that carbon credits generated by CPAs added to registered PoAs after 2012 will still be eligible under Phase III of the EU ETS. Analysts have revised down CER price projections for the current and next EU ETS phase to around €15. In India, the CERC has proposed reducing REC prices for the upcoming fiscal year and the country remains an attractive destination for renewable energy investment.
public serviceenterprise group LEHMAN9-6-06finance20
The document provides an agenda for a presentation by Exelon Corporation and Public Service Enterprise Group at the Lehman Brothers 2006 CEO Energy/Power Conference. It includes forward-looking statements and discusses PSEG's financial overview and year-to-date results, PSEG Power's nuclear and fossil operations and margin growth, and the PJM pricing environment.
public serviceenterprise group LEHMAN9-6-06finance20
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Applying the Global Internal Audit Standards_AIS.pdf
Exelon Corporation at Morgan Stanley Global Electricity & Energy Conference
1. Matthew F. Hilzinger
Chief Financial Officer
Morgan Stanley Global Electricity & Energy Conference
April 3, 2008
2. Forward-Looking Statements
This presentation includes forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, that are subject to risks and uncertainties. The factors that could
cause actual results to differ materially from these forward-looking statements include those
discussed herein as well as those discussed in (1) Exelon’s 2007 Annual Report on Form 10-K in
(a) ITEM 1A. Risk Factors, (b) ITEM 7. Management’s Discussion and Analysis of Financial
Condition and Results of Operations and (c) ITEM 8. Financial Statements and Supplementary
Data: Note 19; and (2) other factors discussed in filings with the Securities and Exchange
Commission by Exelon Corporation, Exelon Generation Company, LLC, Commonwealth Edison
Company, and PECO Energy Company (Companies). Readers are cautioned not to place undue
reliance on these forward-looking statements, which apply only as of the date of this presentation.
None of the Companies undertakes any obligation to publicly release any revision to its forward-
looking statements to reflect events or circumstances after the date of this presentation.
This presentation includes references to adjusted (non-GAAP) operating earnings that exclude the
impact of certain factors. We believe that these adjusted operating earnings are representative of
the underlying operational results of the Companies. Please refer to the appendix to the
presentation for a reconciliation of adjusted (non-GAAP) operating earnings to GAAP earnings.
2
3. Key Messages
• 2007 was exceptional – financially and operationally
• Platform for continued strong performance in 2008 and beyond
• Substantial incremental cash flow and balance sheet capacity over
next five years
• Executing on Value Return Policy
• Generation benefiting from continued improvements in market
fundamentals
• ComEd progressing constructively on distribution case
• Fully engaged in Harrisburg discussion
• Poised to launch low carbon strategy
• Well positioned for current economic environment
3
4. Exelon Is Uniquely Positioned for
Sustainable Value Creation – 12/07 View
2011
(1)
w th
S G ro
P
E
~40% 2011 Assumptions Used for 12/07 Presentation
2007
Henry Hub Gas Price ($/mmBtu) 8.00
Coal (NAPP 3.0) ($/ton) 49.75
PJM W-Hub Implied Heat Rate (mmBtu/MWh) (2) 7.85
ComEd
d
mE
Co NI-Hub Implied Heat Rate (mmBtu/MWh) (2) 6.20
ExGen
2011 Sensitivities - Current (3)
ExGen PECO
PECO
(Pre-Tax Impact)
+/- $1/mmBtu Gas Price ~$500M
+/- $15/ton Coal Price (NAPP 3.0) ~$150M
+/- 0.5 mmBtu/MWh ATC Heat Rate ~$650M
Operating EPS Guidance: Major Driver:
$4.15 – $4.30 End of below-market contract in PA
(1) As published at Exelon’s 12/19/07 investor conference based upon 7/31/07 observable market prices. No assumption for carbon has been made for 2011.
(2) Implied heat rate = Assumed ATC price ($/MWh) / Assumed Henry Hub Gas Price ($/mmBtu)
(3) Sensitivities are derived by changing one assumption at a time while holding all else constant. Due to correlation of the various assumptions, the pre-tax earnings impact
calculated by aggregating individual sensitivities may not be equal to the pre-tax earnings impact calculated when correlations between the various assumptions are also
considered.
4
5. Positively Exposed to Market Dynamics
10 90
Henry Hub Gas Price Coal Prices
85
9.5
80
Henry Hub ($/MMBtu)
As of 3/27/08
9 75
NAPP - 3.0 ($/ton)
As of 3/27/08
70
8.5
65
12/07 Investor
Conference
8 60
12/07 Investor
55
Conference
7.5
50
7 45
2008 2009 2010 2011 2012 2008 2009 2010 2011 2012
9
Implied ATC Heat Rates 2011 Capacity Prices
8.5
PJM West – As of
8 3/27/08
Price Assumptions
7.5
MMBtu/MWh
Current 12/07 Capacity Est. Pre-Tax
PJM West - 12/07 Impact (1)
($/MW-day) ($/MW-day) (MWs)
7 Investor
Conference
Rest of
6.5
Market $175 $100 12,700 ~$350M
Ni-Hub – As of
3/27/08
6
MAAC $175 $150 11,000 ~$100M
5.5 Ni-Hub - 12/07
Investor (1) Assumes RPM results for 2011/2012 are the same as 2010/2011 results.
Conference
5
2008 2009 2010 2011 2012
Improving market fundamentals since our December Investor Conference point
to additional upside in 2011 5
6. ComEd – Rate Case Summary
• ComEd and ICC Staff are in virtual agreement with respect to proper
capital structure ~45% equity
• Relatively small difference between ComEd’s requested ROE (10.75%)
and Staff’s recommendation (10.30%)
• ComEd and ICC Staff are much closer on administrative and general
(A&G) expenses than in the last rate case
• Seeking to reduce regulatory lag by including pro forma capital additions in
rate base and pursuing more timely recovery of costs through riders
• About 60% of difference between ComEd’s total revenue requirement and
Staff’s recommendation relates to “timing” of recovery for 2007 and 2008
capital additions
• ALJ Order expected: July 2008
• Final ICC Order expected: September 2008
6
7. ComEd – Interim Procurement Process
ComEd procured ~14% of its energy needs for June 2008 through
May 2009 through the procurement of 24 block products for on-peak
and off-peak energy
100%
3/08
RFP
Future
Procurement
by Illinois
67%
Power Agency
Auction Contracts
33%
Financial Swap
NOTE: For illustrative purposes
only. Assumes constant load profile
each year.
0%
Jun 2007 Jun 2008 Jun 2009 Jun 2010 Jun 2011 Jun 2012 Jun 2013
The staggered roll-off of the auction contracts and the financial swap have mitigated
the rate impact for ComEd residential customers to ~2.5%
7
8. Pennsylvania Snapshot
Current State of Play
• Governor Rendell’s “Energy Independence Strategy”,
PECO Actions
introduced in February 2007, continues to be focus of
legislative activity.
Legislation aimed at reducing energy costs, increasing • Stakeholder outreach
clean energy resources, reducing reliance on foreign
• Working with industry coalition
fuels, expanding energy production in PA
• Negotiating legislative proposals with
Comprehensive bills dealing with procurement and
Administration and legislative leadership
rate mitigation remain in committee
on key provisions:
Modest action on other key bills: Energy Fund bills
Procurement rules
passed in House and Senate; House passed an
Rate increase phase-in/deferral
Efficiency/Demand-side Response bill.
Smart meters and real time pricing
• Special Session on Energy runs concurrent with Regular
Energy efficiency and demand-side
Session which continues thru November 2008.
management programs
• Participating directly or through industry
Positions of Stakeholders
associations in legislative hearings and
informational meetings
• Governor continues to press for “Energy Independence
Fund” and measures to mitigate energy prices
• Legislators concerned with cost of Governor's initiatives, no
new taxes
• Rate freeze bill being considered in House, but little
momentum
• Industry coalition working together to develop a
comprehensive package
8
9. Exelon’s Strategic Direction
+
Protect Today’s Value Grow Long-Term Value
• Deliver superior operating performance • Drive the organization to the next level of
performance
– Assure safety at all times
– Keep the lights on – Continuously improve productivity
– Maintain nuclear excellence – Insist on accountability for results and
– Enhance environmental performance values
• Advance competitive markets – Foster positive employee relations
– Build economic new generation – Acquire, develop and retain key and diverse
talent
– Provide reliable, affordable, low-carbon
products to customers • Set the industry standard for low carbon
energy generation and delivery through
– Support the continued improvement of
reductions, displacement and offsets
organized competitive wholesale markets
– Aggressively pursue cost effective energy
• Protect the value of our generation
efficiency and demand response
– Adapt the generation portfolio to a changing
– Develop and deploy reliable and affordable
marketplace
gas-fired and renewable generation
– Hedge market risk appropriately
– Increase nuclear production
• Build healthy, self-sustaining delivery
– Become a model of green operations
companies
• Pursue and rigorously evaluate new growth
– Pursue fair regulatory treatment and restored
opportunities
financial health for ComEd
– Manage PECO’s 2011 transition to market
9
10. Sustainable Value
• Continued strong financial and operating performance, and long-
term earnings growth driven by unregulated generation
• Largest, lowest-cost nuclear fleet in competitive markets
• Executing regulatory recovery plan to put ComEd on a path toward
appropriate returns and solid credit metrics
• Managing transition to competitive markets in Pennsylvania
• Increasingly strong cash flows and balance sheet
• Implementing Value Return Policy
Exelon is uniquely positioned to create sustainable value
10
12. ComEd – Rate Case Summary
Comparison of ComEd revenue request to ICC Staff recommendation:
Impact on
ComEd Revenue
($ in millions) Request ICC Staff Increase
Rate Base:
2006 Test Year $5,573 $5,348 $(26)
Pro Forma Adjustments 1,498 358 (130)
Total Rate Base 7,071 5,706 (156)
10.75% ROE / 10.30% ROE /
ROE/Cap Structure 45.11% Equity 45.04% Equity (25)
Depreciation and Amortization 359 333 (26)
A&G Expenses 341 315 (26)
Other O&M Expenses 657 640 (16)
Total $(249)
12
13. ComEd Interim Procurement Results
On-Peak Off-Peak
MWs (1) Avg. Price (2) MWs (1) Avg. Price (2)
June 2008 1,060 $81.13 630 $42.15
July 2008 1,640 94.92 960 47.46
August 2008 1,450 94.64 840 47.46
September 2008 870 76.80 470 42.65
October 2008 620 76.01 290 43.70
November 2008 750 74.89 460 44.31
December 2008 1,000 74.71 710 44.28
January 2009 1,000 79.76 720 49.32
February 2009 860 79.72 600 48.99
March 2009 650 76.15 370 44.60
April 2009 450 77.50 190 44.64
May 2009 520 75.70 250 42.99
(1) MWs solicited.
(2) Weighted average of the winning bid prices (in $/MWh) for each contract type and each contract term.
13
14. PECO Average Electric Rates
PPL Procurement Results ($/MWh)
Residential Small C&I
Projected Rate Increase Based on
Projected Rate Increase Based on Round 1, 7/2007 $105.11
$101.77
Electric Restructuring
Electric Restructuring Average PPL Procurement Results
Average PPL Procurement Results
Settlement Round 2, 10/2007 $105.08 $105.75
Settlement (Illustrative)
(Illustrative)
Round 3, 3/2008 $108.80 $108.76
Average $105.22 $106.54
13.70¢
Assumptions
11.52¢ (1)
Unit Rates (¢/kWh)
2011 default service rate will reflect
+19%
associated full requirements costs and
be acquired through multiple
procurements
6.00
Energy / Capacity 10.59 Using the average results of completed
PPL procurements for 2010 and
assuming a 50/50 weighting of
Residential and Small C&I customers
produces a proxy of 10.59¢/kWh. This
will result in a system average rate
Competitive Transition
2.41 increase of ~19%
Charge (CTC)
PECO’s 2011 full requirements price
Transmission 0.48 0.48 expected to differ from PPL due, in part,
to the timing of the procurement (2011
Distribution 2.63 2.63 vs. 2010) and locational differences
Rates will vary by customer class and
may be impacted by legislation and
2008 – 2010 2011
procurement model
(1) System Average Rates based upon Restructuring Settlement Rate Caps on Energy and Capacity increased from original settlement by 1.6% to
reflect the roll-in of increased Gross Receipts Tax and $0.02/kWh for Universal Service Fund Charge and Nuclear Decommissioning Cost
Adjustment. System Average Rates also adjusted for sales mix based on current sales forecast. Assumes continuation of current
Transmission and Distribution Rates.
14
15. Pennsylvania Legislative Update
• More than 100 bills have been introduced since Governor Rendell launched his Energy
Independence Initiative in February 2007.
• H.B. 2200 - Energy Efficiency (EE), Demand Response (DR) & Smart Meters:
– Passed by House on 2/20/08
– Establishes Program Administrator to oversee development and execution of a state-wide program delivered to
customers by network of 3rd-party service providers
– EE target of 1% reduction off of forecasted total deliveries by 2011 and 2.5% by 2013
– DR target of 4% reduction in peak load by 2013
– Cost cap set at 2% of total annual revenues
– Full deployment of Smart Meters over 10 years
• H.B. 2201 - Comprehensive Energy Bill:
– In Committee
– Directs distribution companies to procure power using a portfolio approach, including long-term, short-term and
spot market purchases
– Portfolio may include up to 20% long-term, but limit excludes long-term AEPS purchases and PAPUC may
waive limit and PAPUC may direct specific purchases
– All customers can opt to phase-in increases early and/or over 3 years after caps expire.
– Distribution companies must limit initial phase-in to a maximum 15% annual increase over 2010 rates during
the 3-years. May recover deferrals over additional 3 years
– Full deployment of Smart Meters over 10 years, with voluntary time-of-use or real-time pricing rates
• H.B. 0001 - Special Session House Bill 1:
– Passed by House on 3/11/08
– Establishes an $850 million bond fund through existing gross receipts tax to create a Clean Energy Program
– Promotes low-pollution, state-based energy generation and investment to reduce the Pennsylvania’s
dependence on Middle East oil and other foreign energy sources
15
16. GAAP EPS Reconciliation
Year Ended December 31, 2007
ExGen (1) ComEd (1) PECO (1) Other (1) Exelon
$3.01 $0.25 $0.75 $0.04 $4.05
2007 GAAP Earnings Per Share
Mark-to-market adjustments from economic hedging activities 0.15 - - - 0.15
2007 Illinois electric rate settlement 0.38 0.03 - - 0.41
Investments in synthetic fuel-producing facilities - - - (0.14) (0.14)
Nuclear decommissioning obligation reduction (0.03) - - - (0.03)
Termination of State Line PPA (0.19) - - - (0.19)
Georgia Power tolling agreement 0.11 - - - 0.11
City of Chicago settlement - 0.02 - - 0.02
Non-cash deferred tax items 0.04 - - (0.08) (0.04)
Settlement of a tax matter at Generation related to Sithe (0.01) - - - (0.01)
Sale of Generation's investments in TEG and TEP (0.01) - - - (0.01)
2007 Adjusted (non-GAAP) Operating Earnings (Loss) Per Share $3.45 $0.30 $0.75 $(0.18) $4.32
(1) Amounts shown per Exelon share and represent contributions to Exelon's EPS.
16
17. Exelon Investor Relations Contacts
Inquiries concerning this presentation Investor Relations Contacts:
should be directed to:
Chaka Patterson, Vice President
Exelon Investor Relations 312-394-7234
10 South Dearborn Street Chaka.Patterson@ExelonCorp.com
Chicago, Illinois 60603
312-394-2345 Karie Anderson, Director
312-394-4082 (Fax) 312-394-4255
Karie.Anderson@ExelonCorp.com
For copies of other presentations, Marybeth Flater, Manager
annual/quarterly reports, or to be 312-394-8354
added to our email distribution list
Marybeth.Flater@ExelonCorp.com
please contact:
Len Epelbaum, Principal Analyst
Felicia McGowan, Executive Admin
312-394-7356
Coordinator
Len.Epelbaum@ExelonCorp.com
312-394-4069
Felicia.McGowan@ExelonCorp.com
17