 1 2009 and Beyond Note: Earnings impact of winding down commodities could result in earnings per share impact of ($1.00) to $0.00 See Appendix • 2009 earnings guidance of $2.90 to $3.30 per share • Projecting five-year compound annual EPS growth rate of 6% to 8% • Key drivers include: – Reset of generation hedges at higher market prices offset by impact of the Nuclear Joint Venture – Debt reduction and capital expenditure reductions – Higher BGE earnings resulting from increased investment • Recommending reduction in dividend by 50% to 60% Exhibit 99.1 |