This document discusses Xcel Energy's strategy for sustainable growth through investments in regulated utility operations. It outlines Xcel's plans to invest in renewable energy, transmission infrastructure, and environmental projects. Xcel expects this capital investment to drive 5-7% annual EPS growth and 2-4% annual dividend growth. The company operates under constructive regulation and has recovery mechanisms that allow passing costs through to customers.
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.
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I'll provide you the what'sapp number.
+12349014282
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
This presentation poster infographic delves into the multifaceted impacts of globalization through the lens of Nike, a prominent global brand. It explores how globalization has reshaped Nike's supply chain, marketing strategies, and cultural influence worldwide, examining both the benefits and challenges associated with its global expansion.
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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 what'sapp information for my personal pi vendor.
+12349014282
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
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
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
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
** On May 23, 2007, Xcel Energy increased its quarterly dividend
by 3.4%, which is equivalent to $0.92 per share annualized
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
One of the largest U.S. solar photovoltaic projects
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. 2007 Rate Case Settlements*
Dollars in millions
Dollar Increase Return on Equity
Requested Granted Requested Granted
Colorado Gas $41.5 $32.3 11.0% 10.25%
Texas Electric $48 $23 11.6% NA
North Dakota Gas $2.8 $2.2 11.3% 10.75%
* Settlements are pending commission approval
9. Pending Rate Cases
Dollars in millions
Revenue Requested Interim
Jurisdiction Request ROE Rates Decision
Minnesota Gas $16.8 10.75% $15.9 Summer 2007
Wisconsin Electric 67.4 11.0% NA Winter 2007
Wisconsin Gas 5.3 11.0% NA Winter 2007
Note: Xcel Energy plans to file a New Mexico electric case in July 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
In 2007, a law was passed in New Mexico
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
16. 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
17. 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
19. Delivering Competitively Priced Energy
Summer 2006 EEI Typical Bills
Cents per kWh (Retail)
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12
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Power Company- Northern
Minnesota States Power
45% Net Income Company-
Wisconsin
7% Net Income
Public Service
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40% Net Income 5th Largest Combination
Electric and Gas Utility
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Southwestern
Public Service Traditional Regulation
8% Net Income
2006 EPS $1.35 continuing operations
2007 Dividend $0.92 per share annualized
21. 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 2012 – 2013
Group II
South Dakota
In Service 2013 – 2020
Group III
Iowa
Group I
In Service 2013 – 2020
Group II
Group III
22. 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
23. 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 on track
Cost to date: $470 million
* Includes costs for transmission line upgrades and air quality
control additions to Units 1 & 2
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. 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
28. 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
29. 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
30. 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
31. 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
32. 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
33. 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