Financial Data and Key Metrics Changes - Consolidated earnings for the first quarter were reported at $0.31 per diluted share, an increase from $0.09 per share in the same period of 2024 [17] - The electric company achieved net income of $71 million or $0.35 per diluted share, compared to $25 million or $0.12 per share in the same period of 2024 [17] - The holding company reported a loss of $8 million or $0.04 per diluted share, compared to a loss of $7 million or $0.03 per share in the same period of 2024 [17] - The company affirmed its 2025 earnings per share guidance of $2.27 within a range of $2.21 to $2.33 per share [17][25] Business Line Data and Key Metrics Changes - Customer growth was at 1% year-over-year, with residential and commercial sectors leading the demand growth of 8% [7][18] - Residential load growth was strong at 3%, while commercial load growth was even higher at 28% [19] - Industrial and oilfield classes experienced some softness due to planned and unplanned outages [19] Market Data and Key Metrics Changes - The company reported an average reliability of 99.975% despite facing extreme weather conditions [9] - The rates for the company are among the lowest in the nation, with the lowest rates in both Oklahoma and Arkansas [10] Company Strategy and Development Direction - The company is focused on delivering safe, reliable, and affordable electric service to over 900,000 customers [6] - Future growth is anticipated from diverse industries, including defense, tribal development, and hospitality, particularly with Oklahoma City hosting events for the 2028 Olympics [8] - The company plans to request a rate review midyear in Oklahoma and a general rate review in Arkansas towards the end of the year [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong financial position and operational excellence, which supports future growth [14] - The company is proactive in managing supply chain risks and has secured key components through 2026 [13] - Management acknowledged the uncertainty in the macroeconomic environment but remains committed to delivering on stakeholder expectations [13] Other Important Information - The company completed a planned external financing of $350 million, contributing to low refinancing risk [21] - The balance sheet is considered one of the strongest in the industry, with a forecasted FFO to debt ratio of approximately 17% [22] Q&A Session Summary Question: Are there any disruptive or inflationary impacts on the current CapEx plan? - Management feels confident about the current CapEx plan and expects little to no disruption in the coming years [30] Question: What is the outlook for industrial load growth? - Management indicated that the lower growth in the industrial segment is due to transitory events like outages, with no external factors impacting that class [32] Question: Are there discussions around utility regulatory improvements in Oklahoma? - Management confirmed ongoing discussions about pursuing formula rates but indicated that significant changes are not expected this year [36] Question: How would the generation rider and PISA recovery impact the current plan? - Management stated that the generation rider would provide cash flow during the construction phase, enhancing credit and facilitating financing [44] Question: Is there any impact from the Oklahoma Supreme Court ruling on service extensions? - Management confirmed that the ruling does not affect the ability to serve large load customers [52] Question: How is the tone in customer exchanges regarding data center electricity demand? - Management reported ongoing discussions with several data center companies, indicating strong demand [59] Question: What is the company's strategy regarding Moody's negative outlook? - Management expressed confidence in maintaining a strong balance sheet and believes that upcoming regulatory events could positively influence Moody's assessment [62]

April 30, 2025 Safe Harbor Some of the matters in this presentation may contain forward-looking statements that are subject to certain risks, uncertainties and assumptions. Such forward-looking statements are intended to be identified in this document by the words "anticipate," "believe," "estimate," "expect," "forecast," "intend," "objective," "plan," "possible," "potential," "project," "target" and similar expressions. Actual results may vary materially from those expressed in forward looking statements. ...

Financial Performance - Edison International's Q1 2025 GAAP EPS was $3.73[6], while Core EPS was $1.37[6] - The company reaffirmed its 2025 Core EPS guidance of $5.94–6.34[6] - Edison International anticipates a 5–7% Core EPS Compound Annual Growth Rate (CAGR) from 2025 to 2028, projecting EPS of $6.74–7.14 in 2028[5] Regulatory and Capital Investments - The company has a capital program of $38–43 billion for 2023–2028, supporting a projected rate base growth of approximately 6–8%[25] - SCE filed for a 2026 Cost of Capital, requesting an ROE of 11.75% compared to the 2025 authorized ROE of 10.33%[11] - SCE's 2025 General Rate Case (GRC) requests annual revenue requirement increases of approximately $1.9 billion in 2025, $670 million in 2026, $750 million in 2027, and $730 million in 2028[12] Wildfire and Legal Matters - The TKM settlement was approved, leading to a one-time Core EPS impact of approximately $0.30 and an annual interest expense reduction of $0.14[31] - SCE is pursuing cost recovery for the Woolsey fire, with a request of approximately $5.4 billion[28] - Approximately $1.6 billion will be recovered through securitization of AB 1054 capital expenditures[34]

Core Viewpoint - OGE Energy Corp. reported significant growth in earnings for the first quarter of 2025, driven by increased customer demand and operational efficiencies, indicating a positive outlook for the company as it continues to expand its services in Oklahoma and Arkansas [2][4]. Financial Performance - OGE Energy Corp. achieved earnings of $0.31 per diluted share in Q1 2025, up from $0.09 per diluted share in Q1 2024 [1][3]. - The net income for OG&E was $71.0 million, or $0.35 per diluted share, compared to $25.2 million, or $0.12 per diluted share, in the same period last year [2][12]. - The overall net income for OGE Energy was $62.7 million, reflecting a substantial increase from $18.6 million in Q1 2024 [3][12]. Revenue and Expenses - Operating revenues for OGE Energy Corp. reached $747.7 million in Q1 2025, compared to $596.8 million in Q1 2024, marking a significant increase [11][12]. - Fuel, purchased power, and direct transmission expenses rose to $324.0 million from $232.2 million year-over-year [11][12]. - Operating expenses remained relatively stable at $290.4 million, slightly down from $290.6 million in the previous year [11][12]. Outlook - The company maintains its 2025 consolidated earnings guidance at $2.27 per average diluted share, with a range of $2.21 to $2.33, assuming normal weather conditions for the remainder of the year [4][5]. - OGE Energy's earnings are subject to significant seasonality due to weather variations [4]. Customer Base and Market Position - OGE Energy Corp. serves approximately 909,000 customers in Oklahoma and western Arkansas, indicating a stable and growing customer base [6].

文 | 中关村储能产业技术联盟综合整理 据央视新闻4月29日报道，西班牙和葡萄牙28日遭遇大规模停电，影响超过5000万伊比利亚半岛民众，交通、通信、医疗等关键领域一度瘫痪， 法国南部等周边地区也受短暂波及。 欧盟委员会执行副主席里贝拉表示，目前无任何证据表明导致伊比利亚半岛大面积停电的原因是网络攻击。此次大停电是近年来欧洲记录到的 最 严重停电事件之一。 目前，官方尚未给出正式的停电原因，仍需时日调查确定。 西班牙电网运营商Red Eléctrica 负责人Eduardo Prieto 4月28日表示：停电由"电网的强烈振荡"引发，该振荡导致西班牙电力系统与欧洲电网断 开。他提到的"强烈震荡"，也就是首相桑切斯在讲话中提到的"技术层面出现重大波动"。 功率开始快速变化时，就会引起电网的振荡，最终导致崩溃停电。比如，大规模负荷接入或切除会引起发电功率和负荷需求之间的不平衡，导致 电网振荡出现。 葡萄牙电网运营商REN认为 ：电网的这次异常振荡可能与西班牙的极端气温变化有关。该公司专家称，极端气温波动导致了400kV以上的超高压 电网振荡。 能源分析师表示，如此大规模的停电在富裕国家并不常见，鉴于伊比利亚半岛对 ...

Financial Data and Key Metrics Changes - Edison International reported core earnings per share (EPS) of $1.37 for Q1 2025, an increase from $1.13 in the same period last year [5][19] - The year-over-year comparison is noted as not particularly meaningful due to the lack of a decision in the 2025 general rate case [6][19] - The company remains confident in meeting its 2025 EPS guidance and delivering a 5% to 7% core EPS compound annual growth rate (CAGR) through 2028 [6][25] Business Line Data and Key Metrics Changes - SCE's first quarter EPS includes approximately $0.30 associated with the TKM settlement approval, partially offset by higher interest expenses at EIX Parent and Other [20] - The utility's full general rate case request includes about $1.4 billion of annual capital spending on wildfire mitigation and hardening an additional 1,800 miles of overhead distribution infrastructure [14] Market Data and Key Metrics Changes - SCE's proposed schedule for the cost of capital application includes a return on equity (ROE) request of 11.75%, with a proposed decision expected in November [21] - The utility plans to file an application for its advanced metering infrastructure program to replace its smart meter fleet, addressing technology obsolescence [24] Company Strategy and Development Direction - The company is focused on rebuilding wildfire-impacted areas and enhancing the resilience of its electrical distribution infrastructure [6][7] - Edison International is engaging with legislators to support community safety and enhance California's regulatory framework [11] - The company is optimistic about the regulatory environment, as indicated by the CPUC's approval of the TKM settlement agreement [12] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the ongoing investigation into the Eaton fire and the potential for material losses, emphasizing transparency throughout the process [8][10] - The company is confident in its ability to manage liabilities through the wildfire fund and believes it can demonstrate prudency in its operations [66][83] - Management expresses optimism regarding the legislative discussions around wildfire legislation and the need for action [42][91] Other Important Information - The company has launched a new webpage to address misinformation regarding the Eaton fire [9] - Recent leadership changes include the retirement of board member Vanessa Chang and the appointment of Shonda Nwamu as the new General Counsel [15][16] Q&A Session Summary Question: What drove the new material loss disclosure? - Management indicated that the ongoing investigation and the absence of evidence pointing to another source of ignition warranted the disclosure of probable losses [32][66] Question: How will potential liabilities from the Eaton fire impact financing plans? - Management explained that the wildfire fund would be accessed to cover claims, reducing the need for debt issuance compared to previous incidents [36][38] Question: What is the status of wildfire legislation in California? - Management expressed confidence in the engagement of the governor's office and legislative leaders, noting the complexity of the issue [41][42] Question: How does the Moody's risk management model reflect wildfire risk? - Management clarified that the model incorporates various risk areas and that grid hardening efforts have contributed to risk reduction [44][46] Question: What are the considerations for accessing the wildfire fund? - Management stated that the process for accessing the fund is streamlined, with initial claims covered by customer-funded self-insurance before tapping into the fund [108] Question: Are there any updates on the investigation into the Eaton fire? - Management confirmed that no estimates could be provided regarding the investigation timeline, emphasizing the complexity of the situation [76][78] Question: Will the nature of lawsuits affect recovery from the wildfire fund? - Management assured that the wildfire fund is available for damage claims, and there are no limitations on the types of claims that can be paid [83]

Edison International (NYSE:EIX) Q1 2025 Earnings Conference Call April 29, 2025 4:30 PM ET Company Participants Sam Ramraj - VP, IR Pedro Pizarro - President, CEO & Director Maria Rigatti - EVP & CFO Steve Powell - President, CEO & Director, Southern California Edison Conference Call Participants Nick Campanella - Barclays Michael Lonegan - Evercore Carly Davenport - Goldman Sachs Paul Zimbardo - Jefferies Richard Sunderland - JPMorgan Gregg Orrill - UBS Anthony Crowdell - Mizuho David Arcaro - Morgan Stanl ...

Core Insights - PG&E is actively working to make electric vehicle (EV) ownership more affordable for customers with limited financial resources, which is essential for achieving California's climate goals and lowering electric rates [1][4] Group 1: EV Adoption Initiatives - PG&E has assisted over 13,000 income-qualified customers through the Pre-Owned EV Rebate Program, providing more than $29 million in benefits since its launch in February 2023 [2][8] - The company aims to serve 3 million EVs by 2030, emphasizing the importance of closing the equity gap for disadvantaged communities to accelerate EV adoption [3][6] Group 2: Cost Reduction Programs - PG&E offers various resources, including rebates and incentives for income-qualified customers, to lower the total cost of EV ownership, including upfront costs and charging infrastructure [7][10] - The Residential Charging Solutions pilot provides a 50% rebate on approved Level 2 residential charging equipment, with income-eligible customers receiving a 100% rebate [10] Group 3: Charging Cost Management - Customers can manage EV charging during off-peak hours, potentially charging for as low as $1.88 per gallon of gas for those receiving income-qualified rate discounts [5][14] - An income-qualified customer with home charging could save 57% on fueling costs compared to gasoline, while those using public charging can save up to 100% for two years through the Affordable Public Charging program [15] Group 4: Future Plans - PG&E plans to announce two additional EV charging pilots authorized for funding through California's Low Carbon Fuel Standard Program in the coming year [12]

Financial Data and Key Metrics Changes - For the full year 2024, the company reported operating earnings of $5.62 per share, continuing a trend of meeting or exceeding earnings per share guidance for over a decade [17] - The quarterly dividend was increased by $0.05 to $0.93 per share, with an operating earnings guidance range for 2025 set between $5.75 and $5.95 per share [17] - The company aims for a long-term operating earnings growth rate of 6% to 8%, combined with dividends to provide a potential total shareholder return of 10% to 12% [17] Business Line Data and Key Metrics Changes - The company plans to invest over $34 billion in transmission and distribution infrastructure to create a resilient grid [17] - An additional $14 billion is allocated for new diverse generation resources to balance reliability and affordability [17] - Commercial load growth increased by 10.6% last year, driven by data centers and reshoring of manufacturing [18] Market Data and Key Metrics Changes - The company anticipates an additional investment of up to $10 billion in infrastructure to support increased demand, driven by over 20 gigawatts of new load expected by the end of the decade [19] Company Strategy and Development Direction - The company is focused on building an energy system to support growing customer needs while emphasizing execution, accountability, and operational excellence [16] - The capital plan is seen as key to unlocking long-term value for shareholders, customers, and communities [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's future, highlighting the commitment of employees and the potential for significant achievements that benefit customers [19] - The company is working with regulators and large customers to ensure fair allocation of infrastructure costs [19] Other Important Information - The company has a historic five-year capital plan totaling $54 billion [17] - The independent registered public accounting firm PricewaterhouseCoopers LLP was ratified for 2025, with approximately 99% of votes in favor [25] Q&A Session Summary Question: Were there any questions submitted by shareholders? - No questions were received from shareholders during the meeting [22]

Financial Data and Key Metrics Changes - Edison International reported core earnings per share (EPS) of $1.37 for Q1 2025, an increase from $1.13 in the same period last year [5][19] - The year-over-year comparison is noted as not particularly meaningful due to the lack of a decision in the 2025 general rate case [6][19] - The company remains confident in meeting its 2025 EPS guidance and achieving a core EPS compound annual growth rate (CAGR) of 5% to 7% through 2028 [6][25] Business Line Data and Key Metrics Changes - SCE's first quarter EPS includes approximately $0.30 associated with the TKM settlement approval, offset by higher interest expenses at EIX Parent and Other [20] - The utility's full general rate case (GRC) request includes about $1.4 billion of annual capital spending on wildfire mitigation and hardening an additional 1,800 miles of overhead distribution infrastructure [14] Market Data and Key Metrics Changes - The company is actively engaging with legislators and the governor's office to enhance California's regulatory framework regarding wildfire safety [11] - SCE's proposed cost of capital application includes a request for a return on equity (ROE) of 11.75%, with a proposed decision expected in November [21] Company Strategy and Development Direction - The company is focused on rebuilding wildfire-impacted areas and enhancing the resilience of its electrical distribution infrastructure [7] - SCE plans to submit its 2026 wildfire mitigation plan in May, reflecting priorities in risk mitigation, public safety, and affordability [14] - The utility is committed to executing an integrated wildfire mitigation strategy, prioritizing grid hardening, asset inspections, and vegetation management [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the regulatory environment and the importance of addressing wildfire risks to restore stakeholder confidence [11] - The company is optimistic about the proposed decision timeline for the GRC and the potential for a constructive regulatory environment [13] Other Important Information - The company has launched a new webpage to address misinformation regarding the Ethan fire and its operations [9] - Significant media coverage has been noted regarding the Ethan fire, with management emphasizing transparency throughout the ongoing investigation [8] Q&A Session Summary Question: What drove the new material loss disclosure? - Management indicated that the ongoing investigation and the lack of evidence pointing to another source of ignition warranted the disclosure of probable losses [32] Question: How will potential liabilities from the Eaton fire impact financing plans? - Management explained that the wildfire fund would be accessed to cover claims, reducing the need for debt issuance compared to previous incidents [36][38] Question: What is the status of wildfire legislation in California? - Management expressed confidence in legislative engagement but noted that discussions are still in early stages [41][42] Question: How does the Moody's risk management model reflect wildfire risk? - Management confirmed that grid hardening efforts have significantly reduced the probability of catastrophic wildfires, but ongoing evaluations will continue [44][46] Question: What are the considerations for accessing the wildfire fund? - Management clarified that the process for accessing the fund is streamlined, with initial claims covered by customer-funded self-insurance before tapping into the fund [110] Question: Are there any updates on the investigation into the Eaton fire? - Management stated that no estimates could be provided regarding the investigation timeline, and they are still assessing potential ignition sources [76][78]