This document provides a summary of Xcel Energy's strategy for sustainable growth through 2022. It outlines Xcel's plans to invest heavily in renewable energy and transmission projects to meet renewable portfolio standards, as well as large coal and nuclear projects. It also discusses Xcel's regulatory strategy of obtaining forward cost recovery for these major investments and notes Xcel's expectation of 5-7% annual earnings growth through 2022.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
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The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
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1. Sustainable Growth
Ben Fowke
Vice President and CFO
AGA Financial Forum
April 29 – May 1, 2007
2. Safe Harbor
This material includes forward-looking statements that are subject to certain
risks, uncertainties and assumptions. Such forward-looking statements
include projected earnings, cash flows, capital expenditures and other
statements and are identified in this document by the words “anticipate,”
“estimate,” “expect,” “projected,” “objective,” “outlook,” “possible,”
“potential” and similar expressions. Actual results may vary materially.
Factors that could cause actual results to differ materially include, but are
not limited to: general economic conditions, including the availability of
credit, actions of rating agencies and their impact on capital expenditures;
business conditions in the energy industry; competitive factors; unusual
weather; effects of geopolitical events, including war and acts of terrorism;
changes in federal or state legislation; regulation; costs and other effects
of legal administrative proceedings, settlements, investigations and claims
including litigation related to company-owned life insurance (COLI); actions
of accounting regulatory bodies; the higher degree of risk associated with
Xcel Energy’s nonregulated businesses compared with Xcel Energy’s
regulated business; and other risk factors listed from time to time by
Xcel Energy in reports filed with the SEC, including Exhibit 99.01 to
Xcel Energy’s report on Form 10-K for year 2006.
3. Investment Merits
Sustainable EPS growth of 5% – 7%*
Dividend growth of 2% – 4% per year
Dividend yield 4%
* Represents expected average annual normalized EPS growth,
excluding any impact from COLI program
4. Strategy: Building the Core
Get the rules right
Invest in fully regulated utility operations
— Meet customers’ needs
— Provide environmental leadership
Earn a reasonable return
5. Environmental Leadership
Number 1 utility wind provider
— 1,300 MW on-line
— 2,800 MW projected by year-end 2007
Over 2,000 MW of conservation and DSM achieved
Largest U.S. solar photovoltaic project
Evaluating an IGCC with sequestration
Reducing emissions and increasing efficiency
— MERP
— Comanche
— Sherco Upgrade Project
Nuclear life extension and capacity increases
Member of Dow Jones Sustainability Index
6. Getting the Rules Right
MERP – Forward recovery
Comanche 3 – Forward CWIP through rate case filing
Transmission – Forward recovery – MN, CO, ND & SD
Environmental – Forward recovery – MN, ND & SD
Purchased capacity cost adjustment – CO
Renewable investments – Forward recovery – CO
IGCC – Supportive legislation – CO
7. Constructive Regulation
2006 rate case outcomes
Dollars in millions
Dollar Increase Return on Equity
Requested Granted Requested Granted
Colorado Gas $34.5 $22.0 11.0% 10.5%
Wisconsin Electric 53.1 43.4 11.9% 11.0%
Wisconsin Gas 7.8 3.9 11.9% 11.0%
Minnesota Electric 156 131/115 * 11.0% 10.54%
Colorado Electric 208 151 11.0% 10.50%
* $131 million for 2006 reduced to $115 million in 2007 for large customer
coming on-line January 1, 2007
8. Texas Electric Rate Case Settlement
Requested rate increase of $48 million
Unanimous settlement reached:
— $23 million base rate increase
— $27 million of 2004-2005 fuel expense disallowed;
reserve was established prior to 2007
— Potential disallowance for the El Paso contract
capped at $6.3 million annually through 2008
Interim rate increase went into effect in April 2007
pending commission order
Commission decision expected in second quarter
9. Pending Gas Rate Cases
Dollars in millions
Revenue Requested Interim
Jurisdiction Request ROE Rates Decision
Minnesota $16.8 10.75% $15.9 Summer 2007
Colorado $41.9 11.0% NA Summer 2007
North Dakota $2.8 11.3% $2.2 Summer 2007
10. Significant Capital Investment Pipeline
Growing service territory
Environmental initiatives
Renewable portfolio standards
Capital investment will drive sustainable growth
12. Renewable Portfolio Standards (RPS)
In 2007, a law was passed in Minnesota
requiring a 30% renewable standard by 2020
In 2007, a law was passed in Colorado
requiring a 20% renewable standard by 2020
RPS creates investment opportunities
for wind generation and transmission lines
13. Xcel Energy and Wind Potential
Source: National Renewable Energy Laboratory
Wind Density
High
Xcel Energy
States Served
Low
15. MERP Update
Dollars in millions
High
King Bridge Riverside Total
In Service June 2007 May 2008 May 2009
Cost to Date $415 $210 $65 $690
Forecast $425 $340 $245 $1,010
ROE 10.55% 11.00% 10.55% 10.74%
Percent Complete < 95% 45% 5%
Capacity Increase 0 MW 245 MW 55 MW 300 MW
16. Comanche 3 Update
Percent complete:
Design 75%
Procurement 95%
Construction 15%
Permitting for construction is complete and
all environmental permits have been attained
Budget: $1,350 million*
Project costs are on track with budget
Cost to date: $470 million
* Includes costs for transmission line upgrades and air quality
control additions to Units 1 & 2
18. 2007 Earnings Guidance Range
Dollars per share
$1.35-$1.45 Guidance
$1.35
$1.20 Range
2005 Actual 2006 Actual 2007 Guidance
Regulated Utility $1.39 – $1.49
Holding Company (0.15)
COLI – Tax Benefit 0.11
Cont. Operations $1.35 – $1.45
19. Summary
Low risk, fully regulated and integrated utility
Constructive regulatory environment with
enhanced recovery of major capital projects
Pipeline of investment opportunities
Environmental leader, well-positioned
for changing rules
Attractive Total Return
Sustainable 5% – 7% earnings per share growth
Dividend yield 4%
Dividend growth of 2% – 4% per year
21. Delivering Competitively Priced Energy
Summer 2006 EEI Typical Bills
Cents per kWh (Retail)
21
18
15
12
9 7.79
6.64 7.01
6
3
0
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22. Northern States
Power Company- Northern
Minnesota States Power
45% Net Income Company-
Wisconsin
7% Net Income
Public Service
Company of
Colorado
40% Net Income 5th Largest Combination
Electric and Gas Utility
(based on customers)
Southwestern
Public Service Traditional Regulation
8% Net Income
2006 EPS $1.35 continuing operations
2006 Dividend $0.89 annualized
23. CapX 2020 Update
North Dakota
Group I
Minnesota
Total Cost $1.3 Billion
Xcel Share $700 Million
Wisconsin
Certificate of Need
to be filed in early summer
In Service 2011 – 2012
Group II
South Dakota
In Service 2012 – 2020
Group III
Iowa
Group I
In Service 2014 – 2020
Group II
Group III
24. Xcel Energy Supply Sources
2006 2006 Owned
Energy Supply Mix* Generating Facilities
Gas & Oil Unit Type Units MW
Nuclear
27% 12%
Coal 35 8,182
Renewables
Natural Gas 58 4,987
9%
Nuclear 3 1,668
Hydro 83 508
Oil 24 460
RDF 6 67
Wind 37 27
Coal **
52% Total 15,899
* Includes purchases
** Low-sulfur western coal
26. Debt Maturities
Dollars in millions
1,200
Xcel
1,000 NSPM
NSPW
800
PSCo
600 SPS
400
200
0
2007 2008 2009 2010 2011 2012 2013 2014 2015
PSCo Xcel
$100M due 3/1/07 @ 7.11% $230M due 11/1/07 @ 7.50%
27. COLI Litigation
The court’s opinion in the Dow case outlined three indicators
of potential economic benefits to be examined in a COLI case
Positive pre-deduction cash flows
pre-deduction
Mortality gains
The buildup of cash values
In Xcel Energy’s COLI case, the plans:
Were projected to have sizeable pre-deduction cash flows,
based upon the relevant assumptions when purchased
Presented the opportunity for mortality gains that were
not eliminated either retroactively or prospectively
Had large cash value increases that were not encumbered
by loans during the first seven years of the policies
Trial likely second half of 2007
28. Minnesota Cost Recovery Mechanisms
Projected electric fuel and purchased energy costs billed for
the current month with subsequent true-up; MISO energy and
true-up;
ancillary services being recovered through FCA
Projected purchased gas cost billed for the current month
with subsequent true-up
true-up
Conservation Improvement Program rider which provides
recovery of program costs plus incentives
Metro Emission Reduction Program, Renewable Development
Fund and State Energy Policy rider in place
General Transmission rider authorized by law
Mercury Reduction and Environmental Improvement rider
authorized by law
29. Colorado Cost Recovery Mechanisms
Quarterly Energy Cost Adjustment to recover electric fuel and
purchased energy costs
Monthly Gas Cost Adjustment recovers natural gas commodity,
interstate pipeline and storage costs
Annual Purchased Capacity Adjustment to recover capacity
costs of purchased power contracts through 2010
Fuel Cost Adjustment recovers electric fuel and purchased
energy costs from wholesale customers
Demand-side Management Cost Adjustment rider
Air Quality Improvement rider (recovers cost of emission
controls on several Denver metro generation facilities)
Recovery of Comanche 3 construction work-in-progress
Recovery of expenditures for renewable mandate
Rider recovery of IGCC
30. SPS Cost Recovery Mechanisms
Texas
Fuel and purchased energy costs are recovered through a
fixed-fuel and purchased energy recovery factor, which is
part of the retail electric rates
The Texas ECA retail fuel factors change each May 1st and
November 1st based on projected costs
Material over or under recovery estimates may cause the
factor to be revised based on application by SPS or action
by the PUCT
Fuel reconciliation every two years
New Mexico
Fuel and purchased power cost are recovered through
a fuel and purchased power adjustment clause
The New Mexico adjustment clause is reset monthly
31. Wisconsin Cost Recovery Mechanisms
Projected electric fuel and purchased energy costs are
included in base rates
Prospective adjustments are handled via the fuel rules
monitoring process which allows for positive or negative
adjustments to be applied to the fuel recovery rate
The fuel recovery rate is reset annually on January 1st
of each year and may be adjusted during the calendar
year if costs are outside a determined bandwidth
Wholesale energy costs are recovered via the Fuel Clause
Adjustment
32. Dakota Cost Recovery Mechanisms
North Dakota
North Dakota’s fuel and purchased power costs are
recovered through a fuel clause, which is reset based
on the previous four months average rate
South Dakota
South Dakota’s fuel and purchased power costs are
recovered through a fuel clause, which is reset based
on the previous two months average rate