NYSE
LISTED
WTRG
First Quarter 2024
May 3rd, 2024
Brian Dingerdissen
Vice President, Investor Relations and Treasury
2
Forward Looking Statement
This presentation contains in addition to historical information, forward looking statements based on assumptions made by management regarding future circumstances over which the company may have little or no control, that involve risks, uncertainties and other factors that may cause actual results to be materially different from any future results expressed or implied by such forward-looking statements. These factors include, among others, the following: general economic and business conditions; weather conditions affecting customers' usage or the company's cost of operations; costs arising from changes in regulations; regulatory treatment of rate increase requests; availability and cost of capital; the success of growth initiatives, including pending acquisitions; the ability to generate earnings from capital investment; and other factors discussed in our Form 10-K, which is on file with the SEC. We undertake no obligation to publicly update or revise any forward-looking statement.
Non-GAAP Reconciliation
For reconciliation of non-GAAP financial measures, see the Investor Relations section of the company's Web site at www.essential.co
3
Christopher Franklin
Chairman and Chief
Executive Officer
4
Corporate Updates
$0.97 Earnings
Per Share(1)
EPA's First-Ever
Limits on PFAS in
Water
Completed Sale
of the Three District
Energy Projects
Infrastructure
Investment of
$253.0M
Regulatory Progress on
PA FMV Reform
Appointment of
Tamara Linde
and Christopher
Bruner to Board
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1) Includes the gain on sale for the $165 million sale of the three energy projects.
Solidifying the Strength of Our Board
Key Skills
- Utility Industry
- Legal/Government
- Regulatory
- Leadership
- C-SuiteExperience
- Geographic Diversity
Tamara L. Linde
Executive Vice President and General Counsel, PSEG
- Ms. Linde has over 30 years of experience in various roles with responsibilities involving energy, regulatory, legal, risk, environmental, governmental affairs, and transactions
- Ms. Linde is on the board of Community Foundation of New Jersey, PSEG Foundation and is a Member of the American Arbitration Association / International Centre for Dispute Resolution Council (AAA / ICDR)
-
Ms. Linde is a graduate of Seton Hall University from which she holds a bachelor's degree in History and a
Juris Doctorate degree from Seton Hall University School of Law
Key Skills
- Financial
- Regulatory
- Leadership
- Mergers & Acquisitions
Christopher L. Bruner
Partner, Ernst & Young (Retiring 12/2024)
- Mr. Bruner has over 35 years of experience in various roles with responsibilities involving finance, audit, strategy, mergers and acquisitions
- Mr. Bruner has served on several non-profit boards including member and Chair of Mann Center for the Performing Arts, member and Chair of the Audit Committee of Main Line Health Board, and member and Treasurer of The Union League of Philadelphia
- Mr. Bruner is a graduate of Indiana University from which he holds a Bachelor of Science degree in Accounting
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Industry- leading approach to
PFAS mitigation
Aqua Started | Recent | |
Testing and | ||
Completion | ||
Addressing | ||
of PFAS | ||
PFAS for | ||
Treatment | ||
More than | ||
Facility in NJ | ||
Five Years | ||
Voluntary
Reporting of
PFAS Test
Results in
Water Quality
Reports
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Mike Huwar
President, Peoples
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Targeting ~10% Rate Base CAGR1
LOCATED IN CONSTRUCTIVE
REGULATORY JURISDICTIONS
Proprietary Storage
Largest natural gas distribution company in PA with $3.3 billion of rate base as of year-end 2023
OPERATIONAL EXCELLENCE
OUTSTANDING HAZARDOUS LEAKAGE RECORD Reduction of over 80% of gas leaks outstanding at year end 2023 since 2019
LEADING MILE REPLACEMENT PROGRAM IN PA Large scale modernization program with peer- leading replacement cost per mile
FOCUSING ON CUSTOMER AFFORDABILITY Continued value for customers with annual bills of less than $1,000 per average household
Serving more than
743,000 customers
as of year-end 2023
Operations located
near plentiful, low-cost
natural gas sources
DELIVERING EXCEPTIONAL SERVICE Peer-groupleader 3-yearsrunning within PA PUC(2) customer service performance report
(1) Through 2028.
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(2) Pennsylvania Public Utilities Commission.
Peoples Natural Gas
Overview of Pennsylvania Rate Case Filing
Case Details
Filed: | Revenue: | Equity: |
12/29/2023 | $671.5M | 54.67% |
Rates Expected: | Increase: | ROE: |
October 2024 | $156.0M, or 18.7% | 11.75% |
Rate Base through the Fully-Projected Future Test Year as of 9/30/2025:
$4.2B up from $2.1B in last case
Significant Benefits Delivered Since Last Rate Case
✓ Meaningful emissions | ✓ Over 1,000 miles of | ✓ Five-yearrate case |
reduction | pipe replaced | hiatus |
Regulatory Mechanisms
✓ Weather Normalization | ✓ Tax Repair |
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Disclaimer
Essential Utilities Inc. published this content on 03 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 May 2024 13:24:03 UTC.