This document summarizes a presentation given by Ben Fowke, Vice President and CFO of Xcel Energy, at a Lehman Brothers conference on September 5, 2007. Fowke outlines Xcel Energy's value proposition as a low-risk regulated utility with a constructive regulatory environment and opportunities for investment and growth. He highlights recent accomplishments and construction projects on budget and on schedule. Fowke projects continued investment opportunities, earnings per share growth of 5-7% annually, and dividend growth of 2-4% per year through 2011 while maintaining a dividend yield of approximately 4.5%.
xcel energy 9_8888LehmanConfPresentation952007SECfinance26
The document is a presentation by Dick Kelly, Chairman and CEO of Xcel Energy, at a Merrill Lynch conference on September 25, 2007. Kelly summarizes Xcel's value proposition as a low-risk regulated utility with opportunities for investment and environmental leadership. He outlines the company's accomplishments in 2007, upcoming capital investment opportunities, and expectations for continued earnings per share growth of 5-7% and dividend growth of 2-4% per year through strong capital expenditure programs and constructive regulation.
xcel energy 9_11EuropeanRoadShowPresentationSeptember2007finance26
This document provides an overview of Xcel Energy's business and financial performance from the perspective of the Vice President and CFO. It summarizes Xcel's operating regions, recent accomplishments, capital investment opportunities, environmental leadership, and financial outlook. The key messages are that Xcel delivers low-risk returns through regulated utilities, has a strong pipeline of investment opportunities, and is positioned to continue delivering earnings and dividend growth through 2011 by executing on its capital plans.
This document discusses Xcel Energy's strategy to achieve financial success through environmental leadership and reducing carbon emissions. It outlines plans to increase renewable energy and energy efficiency, upgrade plants, and replace coal generation with natural gas and renewable sources. This is projected to reduce carbon emissions by 2020 while maintaining reasonable rates and regulatory approval for investments. Earnings are forecasted to grow by 5-7% annually through 2020 by investing in renewable and transmission projects and benefitting from supportive regulatory treatment.
This document provides an overview of Xcel Energy's strategy to achieve financial success through environmental leadership. It summarizes the company's plans to reduce carbon emissions by 2020 through investments in wind, solar, and natural gas generation while expanding demand side management efforts. It also outlines Xcel's goals for annual earnings per share growth of 5-7% and dividend growth of 2-4% through 2020. The capital expenditure forecast estimates spending between $2.1-$2.2 billion annually through 2011 to fund these clean energy investments and system upgrades.
George Tyson presents Xcel Energy's strategy to achieve financial success through environmental leadership. Key points are:
1) Xcel aims to reduce carbon emissions 20% by 2020 while meeting annual EPS growth targets of 5-7% and dividend increases of 2-4%.
2) Climate change policy will require significant emission cuts, investments, and plant changes. Xcel's states are leaders in renewable standards and energy efficiency.
3) Xcel's carbon reduction strategy includes increasing renewables, upgrading plants, and evaluating carbon capture technology. This will significantly change Xcel's energy supply mix by 2020.
This document summarizes Xcel Energy's business operations and growth strategy. It outlines Xcel's plans to reduce carbon emissions through investments in renewable energy, smart grid technology, and energy efficiency. These initiatives are expected to lower Xcel's carbon emissions 22% by 2020 in Minnesota and 10% by 2017 in Colorado. The document also describes Xcel's constructive regulatory environment which allows recovery of major capital investments. This supports Xcel's goal of delivering 5-7% annual earnings growth and 2-4% annual dividend growth through continued investment in its rate base.
This document summarizes a presentation given by Dick Kelly, the CEO of Xcel Energy, at a financial conference in 2007. The presentation addresses Xcel Energy's strategy for achieving financial success through environmental leadership as climate change policies emerge. Key points include:
1) Xcel Energy is positioning itself to be a leader in addressing climate change by stabilizing or reducing its carbon emissions by 2020 through investments in renewables, energy efficiency, nuclear and cleaner generation.
2) This strategy is expected to reduce regulatory risk, meet customer and political expectations, and demonstrate environmental leadership which could open investment opportunities.
3) Financial projections show rate base growth of 7.5% annually through 2011 which Xcel Energy expects to
xcel energy 2008 June_EurpopeanInvestor854finance26
This document summarizes Xcel Energy's business profile, environmental leadership initiatives, regulatory framework, growth opportunities, and financial performance. Xcel Energy is a major utility operating across 8 states in the Midwest and Plains regions, focusing on electric and gas delivery. The company aims to reduce carbon emissions through investments in renewable energy, smart grid technologies, and energy efficiency. It has a track record of earning returns allowed by constructive regulation and expects to continue delivering earnings and dividend growth through ongoing capital expenditures.
xcel energy 9_8888LehmanConfPresentation952007SECfinance26
The document is a presentation by Dick Kelly, Chairman and CEO of Xcel Energy, at a Merrill Lynch conference on September 25, 2007. Kelly summarizes Xcel's value proposition as a low-risk regulated utility with opportunities for investment and environmental leadership. He outlines the company's accomplishments in 2007, upcoming capital investment opportunities, and expectations for continued earnings per share growth of 5-7% and dividend growth of 2-4% per year through strong capital expenditure programs and constructive regulation.
xcel energy 9_11EuropeanRoadShowPresentationSeptember2007finance26
This document provides an overview of Xcel Energy's business and financial performance from the perspective of the Vice President and CFO. It summarizes Xcel's operating regions, recent accomplishments, capital investment opportunities, environmental leadership, and financial outlook. The key messages are that Xcel delivers low-risk returns through regulated utilities, has a strong pipeline of investment opportunities, and is positioned to continue delivering earnings and dividend growth through 2011 by executing on its capital plans.
This document discusses Xcel Energy's strategy to achieve financial success through environmental leadership and reducing carbon emissions. It outlines plans to increase renewable energy and energy efficiency, upgrade plants, and replace coal generation with natural gas and renewable sources. This is projected to reduce carbon emissions by 2020 while maintaining reasonable rates and regulatory approval for investments. Earnings are forecasted to grow by 5-7% annually through 2020 by investing in renewable and transmission projects and benefitting from supportive regulatory treatment.
This document provides an overview of Xcel Energy's strategy to achieve financial success through environmental leadership. It summarizes the company's plans to reduce carbon emissions by 2020 through investments in wind, solar, and natural gas generation while expanding demand side management efforts. It also outlines Xcel's goals for annual earnings per share growth of 5-7% and dividend growth of 2-4% through 2020. The capital expenditure forecast estimates spending between $2.1-$2.2 billion annually through 2011 to fund these clean energy investments and system upgrades.
George Tyson presents Xcel Energy's strategy to achieve financial success through environmental leadership. Key points are:
1) Xcel aims to reduce carbon emissions 20% by 2020 while meeting annual EPS growth targets of 5-7% and dividend increases of 2-4%.
2) Climate change policy will require significant emission cuts, investments, and plant changes. Xcel's states are leaders in renewable standards and energy efficiency.
3) Xcel's carbon reduction strategy includes increasing renewables, upgrading plants, and evaluating carbon capture technology. This will significantly change Xcel's energy supply mix by 2020.
This document summarizes Xcel Energy's business operations and growth strategy. It outlines Xcel's plans to reduce carbon emissions through investments in renewable energy, smart grid technology, and energy efficiency. These initiatives are expected to lower Xcel's carbon emissions 22% by 2020 in Minnesota and 10% by 2017 in Colorado. The document also describes Xcel's constructive regulatory environment which allows recovery of major capital investments. This supports Xcel's goal of delivering 5-7% annual earnings growth and 2-4% annual dividend growth through continued investment in its rate base.
This document summarizes a presentation given by Dick Kelly, the CEO of Xcel Energy, at a financial conference in 2007. The presentation addresses Xcel Energy's strategy for achieving financial success through environmental leadership as climate change policies emerge. Key points include:
1) Xcel Energy is positioning itself to be a leader in addressing climate change by stabilizing or reducing its carbon emissions by 2020 through investments in renewables, energy efficiency, nuclear and cleaner generation.
2) This strategy is expected to reduce regulatory risk, meet customer and political expectations, and demonstrate environmental leadership which could open investment opportunities.
3) Financial projections show rate base growth of 7.5% annually through 2011 which Xcel Energy expects to
xcel energy 2008 June_EurpopeanInvestor854finance26
This document summarizes Xcel Energy's business profile, environmental leadership initiatives, regulatory framework, growth opportunities, and financial performance. Xcel Energy is a major utility operating across 8 states in the Midwest and Plains regions, focusing on electric and gas delivery. The company aims to reduce carbon emissions through investments in renewable energy, smart grid technologies, and energy efficiency. It has a track record of earning returns allowed by constructive regulation and expects to continue delivering earnings and dividend growth through ongoing capital expenditures.
xcel energy 8BFFinancial_Plan_Xcel_Energy_12052007finance26
This document provides a financial plan and capital expenditure forecast for Xcel Energy from 2007-2011. It summarizes Xcel's ability to address environmental issues through its operations and fuel efficiency. The capital expenditure forecast shows increasing investments in areas like wind generation, transmission projects, and nuclear capacity extensions. The plan also discusses Xcel's earnings guidance, dividend growth, regulatory proceedings, and opportunities for investment and earnings growth.
xcel energy BAC_Presentation_112007_Finalfinance26
Ben Fowke, Vice President and CFO of Xcel Energy, discusses the company's strategy to achieve financial success through environmental leadership. Xcel aims to stabilize or reduce carbon emissions from electricity by 2020 through renewable energy, energy efficiency, upgrading plants, and evaluating carbon capture technology. This strategy positions the company for anticipated climate regulation while maintaining reasonable customer rates and regulatory support for investments. Fowke outlines capital spending projections and enhanced recovery mechanisms that can deliver earnings and dividend growth.
xcel energy AB7A4639-F266-4C1B-8624-A2DC294B5C02_2009_NEWFixedIncomeFebruaryfinance26
This document summarizes a presentation given to fixed income investors by Xcel Energy. It outlines Xcel's strategy of growing its core utility business while meeting environmental challenges. Key points include solid liquidity and balance sheet strength, constructive regulatory relationships, and good growth prospects across its utilities. Xcel expects to deliver 5-7% annual EPS growth and 2-4% annual dividend growth through rate base investments and recovery mechanisms.
xcel energy 1108Mid-Atlantic_Presentationfinance26
This document provides an overview of Xcel Energy's upcoming Mid-Atlantic Investor Meetings on November 18-19, 2008. It summarizes Xcel Energy's financial position including earnings, dividends, debt, liquidity, credit ratings and capital expenditure plans. It also outlines recent and upcoming regulatory proceedings and rate cases across Xcel Energy's operating jurisdictions.
This document provides an overview of Xcel Energy from their presentation at the Edison Electric Institute Financial Conference in October 2003. Key points include Xcel achieving several accomplishments in 2003 including settling with NRG creditors, maintaining investment grade ratings, and refinancing debt. Projections for 2004 include earnings of $1.15-1.25 per share assuming NRG emerges from bankruptcy. The presentation outlines Xcel's objectives, investments, regulatory strategy, and earnings drivers to emphasize the company as a low-risk, integrated utility with a total return of 7-8%.
This document provides an overview of Xcel Energy, an integrated utility company focused on reducing carbon emissions. Key points include:
1) Xcel Energy has plans to significantly reduce carbon emissions by 2020-2030 through investments in renewable resources like wind, solar, and biomass as well as new technologies like smart grids and carbon sequestration.
2) The company operates under constructive regulation with recovery mechanisms for major capital projects and has a strong financial position with consistent earnings growth and dividend increases.
3) Xcel Energy expects to invest over $2 billion per year through 2011 to expand renewable generation, upgrade infrastructure, and extend the life of its nuclear plants, positioning it for continued growth.
This document provides an overview of Xcel Energy Inc. for investors attending the EEI International Financial Conference. It summarizes Xcel's business segments, strengths, investment merits, capital investment plans, power supply, environmental commitments, and financial performance. Projections for 2004 earnings per share and cash flow are also presented. Key points include Xcel being the 4th largest US electric and gas utility, a growing service area, low rates, and a goal of providing competitive total returns of 7-9% to shareholders.
xcel energy 12_6XcelUtilityWeekSECwAppendix12062006finance26
This document provides a summary of Xcel Energy's strategy to build a sustainable core business through 2022. It discusses plans to meet customer needs through competitive pricing and reliability, demonstrate environmental leadership in renewables and emissions reductions, and work with regulators and legislators to establish constructive policies. Key initiatives include the Colorado Emission Reduction Program, Comanche Unit 3, and CapX2020 transmission projects. Financial forecasts illustrate funding growth through operations, debt, and a dividend reinvestment plan while maintaining investment grade credit ratings.
This document summarizes Xcel Energy's strategy to implement capital investments and increase returns. It outlines a $5.7 billion capital expenditure plan from 2006-2009 focused on rate base assets. This includes investments in coal plant refurbishments and a new coal plant. It discusses regulatory filings and rate cases to increase returns, including a pending Minnesota rate case. The strategy aims to deliver attractive total returns through dividend growth and EPS growth of 5-7% annually while maintaining investment grade credit ratings.
This document discusses Xcel Energy's strategy to invest in regulated utility assets to increase its earned return on equity and provide attractive total returns to shareholders. It outlines Xcel's capital expenditure plans through 2020 totaling around $1 billion per year focused on transmission infrastructure, as well as upcoming electric rate cases. The strategy aims to deliver earnings per share growth of 5-7% annually through 2009.
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.
Xcel Energy is implementing a strategy to increase shareholder value through investing in rate base assets and increasing its earned return on equity. It plans to invest $5.7 billion in capital projects over 2006-2009, which is expected to increase its average rate base by 4.5% annually. It is also pursuing rate cases to increase allowed returns. Key upcoming cases include Colorado Electric in 2007 and Minnesota Gas in late 2006. Xcel Energy expects EPS growth of 5-7% annually through 2009 by executing this strategy while maintaining its credit ratings and dividend growth.
This document summarizes Xcel Energy's strategy of investing in regulated utility assets and increasing its earned return on equity. It discusses major capital investment projects, recent rate cases, regulatory cost recovery mechanisms, and financial performance targets. The strategy aims to deliver earnings per share growth of 5-7% annually through 2009 and annual dividend increases of 2-4% by investing over $1 billion per year in transmission, distribution, generation and other core regulated assets.
xcel energy 9_8888LehmanConfPresentation952007SECfinance26
The document is a presentation by Dick Kelly, Chairman and CEO of Xcel Energy, at a Merrill Lynch conference on September 25, 2007. Kelly summarizes Xcel's value proposition as a low-risk regulated utility with opportunities for investment and environmental leadership. He outlines the company's accomplishments in 2007, upcoming capital investment opportunities, and expectations for continued earnings per share growth of 5-7% and dividend growth of 2-4% per year through strong capital expenditure programs and constructive regulation.
xcel energy 9_11EuropeanRoadShowPresentationSeptember2007finance26
This document provides an overview of Xcel Energy's business and financial performance from the perspective of the Vice President and CFO. It summarizes Xcel's operating regions, recent accomplishments, capital investment opportunities, environmental leadership, and financial outlook. The key messages are that Xcel delivers low-risk returns through regulated utilities, has a strong pipeline of investment opportunities, and is positioned to continue delivering earnings and dividend growth through 2011 by executing on its capital plans.
xcel energy 8_16_2007KohlerPresentation8172007SECfinance26
Xcel Energy delivered positive results in 2007 and is positioned for continued growth. Key accomplishments included resolving legal issues, completing generation projects on time and budget, and receiving constructive regulatory resolutions. The company expects to meet or exceed 2007 earnings guidance. Xcel has a pipeline of investment opportunities across its regions and recovery mechanisms to earn its authorized returns. It aims to grow earnings per share 5-7% annually and increase dividends 2-4% per year through rate base and capital expenditure growth.
xcel energy 8_16_2007KohlerPresentation8172007SECfinance26
Xcel Energy delivered positive results in 2007 and positioned itself for continued growth. Key accomplishments included resolving legal issues, completing generation projects on time and budget, and receiving constructive regulatory resolutions. The company expects to meet or exceed 2007 earnings guidance. Xcel outlined capital investment opportunities through 2011 focused on generation, transmission and distribution. Recovery mechanisms provide stability, and opportunities exist to improve returns in some jurisdictions.
This document discusses Xcel Energy's strategy to achieve financial success through environmental leadership and reducing carbon emissions. It outlines plans to increase renewable energy and energy efficiency, upgrade plants, and replace coal generation with natural gas and renewable sources. This is projected to reduce carbon emissions by 2020 while maintaining reasonable customer rates and regulatory approval of resource plans. The strategy also aims to deliver annual EPS growth of 5-7% through rate cases and recovery of capital investments in transmission and generation projects.
This document summarizes a presentation given by Dick Kelly, the Chairman, President and CEO of Xcel Energy, at the 2007 EEI Financial Conference. The presentation discusses Xcel Energy's strategy to address climate change and carbon regulation by stabilizing or reducing carbon emissions from electric service by 2020. This will be achieved through increasing renewable energy, upgrading nuclear plants, expanding energy efficiency programs, and replacing inefficient generation. The strategy positions Xcel Energy for regulatory success and continued leadership in environmental stewardship.
This document summarizes Xcel Energy's strategy to achieve financial success through environmental leadership. It plans to reduce carbon emissions by 2020 through investments in wind, solar, and natural gas generation while expanding demand side management efforts. It forecasts strong earnings growth of 5-7% annually through 2020 by investing over $2 billion per year in its regulated utilities, with enhanced regulatory recovery mechanisms. This is expected to drive rate base growth of 7.5% annually and sustainable dividend growth of 2-4% per year, providing an attractive total return profile.
George Tyson, Vice President and Treasurer of Xcel Energy, presented at a West Coast seminar on their corporate strategy and financial outlook. Xcel aims to grow its core utility business while reducing emissions by 2020 through increasing renewable energy, upgrading plants, and expanding efficiency efforts. Xcel expects to invest billions in projects like wind, transmission, and nuclear to support growth and environmental leadership. This capital investment provides an opportunity for attractive total returns through sustained earnings and dividend growth.
xcel energy BAC_Presentation_112007_Finalfinance26
Ben Fowke, CFO of Xcel Energy, discusses the company's strategy to achieve financial success through environmental leadership and addressing climate change. Xcel plans to stabilize or reduce carbon emissions by 2020 through increasing renewable energy, upgrading plants, expanding energy efficiency programs, and potentially carbon capture technology. This strategy positions the company for continued regulatory approval and investment opportunities under future carbon regulation.
xcel energy 8BFFinancial_Plan_Xcel_Energy_12052007finance26
This document provides a financial plan and capital expenditure forecast for Xcel Energy from 2007-2011. It summarizes Xcel's ability to address environmental issues through its operations and fuel efficiency. The capital expenditure forecast shows increasing investments in areas like wind generation, transmission projects, and nuclear capacity extensions. The plan also discusses Xcel's earnings guidance, dividend growth, regulatory proceedings, and opportunities for investment and earnings growth.
xcel energy BAC_Presentation_112007_Finalfinance26
Ben Fowke, Vice President and CFO of Xcel Energy, discusses the company's strategy to achieve financial success through environmental leadership. Xcel aims to stabilize or reduce carbon emissions from electricity by 2020 through renewable energy, energy efficiency, upgrading plants, and evaluating carbon capture technology. This strategy positions the company for anticipated climate regulation while maintaining reasonable customer rates and regulatory support for investments. Fowke outlines capital spending projections and enhanced recovery mechanisms that can deliver earnings and dividend growth.
xcel energy AB7A4639-F266-4C1B-8624-A2DC294B5C02_2009_NEWFixedIncomeFebruaryfinance26
This document summarizes a presentation given to fixed income investors by Xcel Energy. It outlines Xcel's strategy of growing its core utility business while meeting environmental challenges. Key points include solid liquidity and balance sheet strength, constructive regulatory relationships, and good growth prospects across its utilities. Xcel expects to deliver 5-7% annual EPS growth and 2-4% annual dividend growth through rate base investments and recovery mechanisms.
xcel energy 1108Mid-Atlantic_Presentationfinance26
This document provides an overview of Xcel Energy's upcoming Mid-Atlantic Investor Meetings on November 18-19, 2008. It summarizes Xcel Energy's financial position including earnings, dividends, debt, liquidity, credit ratings and capital expenditure plans. It also outlines recent and upcoming regulatory proceedings and rate cases across Xcel Energy's operating jurisdictions.
This document provides an overview of Xcel Energy from their presentation at the Edison Electric Institute Financial Conference in October 2003. Key points include Xcel achieving several accomplishments in 2003 including settling with NRG creditors, maintaining investment grade ratings, and refinancing debt. Projections for 2004 include earnings of $1.15-1.25 per share assuming NRG emerges from bankruptcy. The presentation outlines Xcel's objectives, investments, regulatory strategy, and earnings drivers to emphasize the company as a low-risk, integrated utility with a total return of 7-8%.
This document provides an overview of Xcel Energy, an integrated utility company focused on reducing carbon emissions. Key points include:
1) Xcel Energy has plans to significantly reduce carbon emissions by 2020-2030 through investments in renewable resources like wind, solar, and biomass as well as new technologies like smart grids and carbon sequestration.
2) The company operates under constructive regulation with recovery mechanisms for major capital projects and has a strong financial position with consistent earnings growth and dividend increases.
3) Xcel Energy expects to invest over $2 billion per year through 2011 to expand renewable generation, upgrade infrastructure, and extend the life of its nuclear plants, positioning it for continued growth.
This document provides an overview of Xcel Energy Inc. for investors attending the EEI International Financial Conference. It summarizes Xcel's business segments, strengths, investment merits, capital investment plans, power supply, environmental commitments, and financial performance. Projections for 2004 earnings per share and cash flow are also presented. Key points include Xcel being the 4th largest US electric and gas utility, a growing service area, low rates, and a goal of providing competitive total returns of 7-9% to shareholders.
xcel energy 12_6XcelUtilityWeekSECwAppendix12062006finance26
This document provides a summary of Xcel Energy's strategy to build a sustainable core business through 2022. It discusses plans to meet customer needs through competitive pricing and reliability, demonstrate environmental leadership in renewables and emissions reductions, and work with regulators and legislators to establish constructive policies. Key initiatives include the Colorado Emission Reduction Program, Comanche Unit 3, and CapX2020 transmission projects. Financial forecasts illustrate funding growth through operations, debt, and a dividend reinvestment plan while maintaining investment grade credit ratings.
This document summarizes Xcel Energy's strategy to implement capital investments and increase returns. It outlines a $5.7 billion capital expenditure plan from 2006-2009 focused on rate base assets. This includes investments in coal plant refurbishments and a new coal plant. It discusses regulatory filings and rate cases to increase returns, including a pending Minnesota rate case. The strategy aims to deliver attractive total returns through dividend growth and EPS growth of 5-7% annually while maintaining investment grade credit ratings.
This document discusses Xcel Energy's strategy to invest in regulated utility assets to increase its earned return on equity and provide attractive total returns to shareholders. It outlines Xcel's capital expenditure plans through 2020 totaling around $1 billion per year focused on transmission infrastructure, as well as upcoming electric rate cases. The strategy aims to deliver earnings per share growth of 5-7% annually through 2009.
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.
Xcel Energy is implementing a strategy to increase shareholder value through investing in rate base assets and increasing its earned return on equity. It plans to invest $5.7 billion in capital projects over 2006-2009, which is expected to increase its average rate base by 4.5% annually. It is also pursuing rate cases to increase allowed returns. Key upcoming cases include Colorado Electric in 2007 and Minnesota Gas in late 2006. Xcel Energy expects EPS growth of 5-7% annually through 2009 by executing this strategy while maintaining its credit ratings and dividend growth.
This document summarizes Xcel Energy's strategy of investing in regulated utility assets and increasing its earned return on equity. It discusses major capital investment projects, recent rate cases, regulatory cost recovery mechanisms, and financial performance targets. The strategy aims to deliver earnings per share growth of 5-7% annually through 2009 and annual dividend increases of 2-4% by investing over $1 billion per year in transmission, distribution, generation and other core regulated assets.
xcel energy 9_8888LehmanConfPresentation952007SECfinance26
The document is a presentation by Dick Kelly, Chairman and CEO of Xcel Energy, at a Merrill Lynch conference on September 25, 2007. Kelly summarizes Xcel's value proposition as a low-risk regulated utility with opportunities for investment and environmental leadership. He outlines the company's accomplishments in 2007, upcoming capital investment opportunities, and expectations for continued earnings per share growth of 5-7% and dividend growth of 2-4% per year through strong capital expenditure programs and constructive regulation.
xcel energy 9_11EuropeanRoadShowPresentationSeptember2007finance26
This document provides an overview of Xcel Energy's business and financial performance from the perspective of the Vice President and CFO. It summarizes Xcel's operating regions, recent accomplishments, capital investment opportunities, environmental leadership, and financial outlook. The key messages are that Xcel delivers low-risk returns through regulated utilities, has a strong pipeline of investment opportunities, and is positioned to continue delivering earnings and dividend growth through 2011 by executing on its capital plans.
xcel energy 8_16_2007KohlerPresentation8172007SECfinance26
Xcel Energy delivered positive results in 2007 and is positioned for continued growth. Key accomplishments included resolving legal issues, completing generation projects on time and budget, and receiving constructive regulatory resolutions. The company expects to meet or exceed 2007 earnings guidance. Xcel has a pipeline of investment opportunities across its regions and recovery mechanisms to earn its authorized returns. It aims to grow earnings per share 5-7% annually and increase dividends 2-4% per year through rate base and capital expenditure growth.
xcel energy 8_16_2007KohlerPresentation8172007SECfinance26
Xcel Energy delivered positive results in 2007 and positioned itself for continued growth. Key accomplishments included resolving legal issues, completing generation projects on time and budget, and receiving constructive regulatory resolutions. The company expects to meet or exceed 2007 earnings guidance. Xcel outlined capital investment opportunities through 2011 focused on generation, transmission and distribution. Recovery mechanisms provide stability, and opportunities exist to improve returns in some jurisdictions.
This document discusses Xcel Energy's strategy to achieve financial success through environmental leadership and reducing carbon emissions. It outlines plans to increase renewable energy and energy efficiency, upgrade plants, and replace coal generation with natural gas and renewable sources. This is projected to reduce carbon emissions by 2020 while maintaining reasonable customer rates and regulatory approval of resource plans. The strategy also aims to deliver annual EPS growth of 5-7% through rate cases and recovery of capital investments in transmission and generation projects.
This document summarizes a presentation given by Dick Kelly, the Chairman, President and CEO of Xcel Energy, at the 2007 EEI Financial Conference. The presentation discusses Xcel Energy's strategy to address climate change and carbon regulation by stabilizing or reducing carbon emissions from electric service by 2020. This will be achieved through increasing renewable energy, upgrading nuclear plants, expanding energy efficiency programs, and replacing inefficient generation. The strategy positions Xcel Energy for regulatory success and continued leadership in environmental stewardship.
This document summarizes Xcel Energy's strategy to achieve financial success through environmental leadership. It plans to reduce carbon emissions by 2020 through investments in wind, solar, and natural gas generation while expanding demand side management efforts. It forecasts strong earnings growth of 5-7% annually through 2020 by investing over $2 billion per year in its regulated utilities, with enhanced regulatory recovery mechanisms. This is expected to drive rate base growth of 7.5% annually and sustainable dividend growth of 2-4% per year, providing an attractive total return profile.
George Tyson, Vice President and Treasurer of Xcel Energy, presented at a West Coast seminar on their corporate strategy and financial outlook. Xcel aims to grow its core utility business while reducing emissions by 2020 through increasing renewable energy, upgrading plants, and expanding efficiency efforts. Xcel expects to invest billions in projects like wind, transmission, and nuclear to support growth and environmental leadership. This capital investment provides an opportunity for attractive total returns through sustained earnings and dividend growth.
xcel energy BAC_Presentation_112007_Finalfinance26
Ben Fowke, CFO of Xcel Energy, discusses the company's strategy to achieve financial success through environmental leadership and addressing climate change. Xcel plans to stabilize or reduce carbon emissions by 2020 through increasing renewable energy, upgrading plants, expanding energy efficiency programs, and potentially carbon capture technology. This strategy positions the company for continued regulatory approval and investment opportunities under future carbon regulation.
This document summarizes Xcel Energy's business operations and growth strategy. It outlines Xcel's plans to reduce carbon emissions through investments in renewable energy, smart grid technology, and energy efficiency. These initiatives are expected to lower Xcel's carbon emissions by 22% in Minnesota and 10% in Colorado by 2020 and 2017 respectively. The document also discusses Xcel's constructive regulatory environment which allows recovery of major capital investments, and projected rate base growth of 7.5% annually through 2011. This growth strategy coupled with environmental leadership is expected to deliver sustainable annual earnings growth of 5-7% and dividend growth of 2-4% for shareholders.
xcel energy 2008 June_EurpopeanInvestor854finance26
This document summarizes Xcel Energy's business profile, environmental leadership initiatives, regulatory framework, growth opportunities, and financial performance. Xcel Energy is a major utility operating in 8 states, focusing on reducing carbon emissions through renewable energy investments and technology pilots. The company expects to grow earnings 5-7% annually through rate base investments and has a track record of increasing its dividend by 2-4% per year.
xcel energy 8BFFinancial_Plan_Xcel_Energy_12052007finance26
This document provides a financial plan and capital expenditure forecast for Xcel Energy from 2007-2011. It summarizes key initiatives including investments in renewable energy, transmission infrastructure and nuclear capacity extensions. It also outlines Xcel's strategy to recover costs through regulatory mechanisms and deliver earnings and dividend growth. Recent and pending rate cases are also summarized.
This document summarizes Xcel Energy's strategy to reduce carbon emissions while growing earnings. It outlines plans to increase renewable energy and energy efficiency, upgrade plants, and invest in new natural gas generation and transmission. Specific resource plans for Minnesota and Colorado are detailed that would reduce carbon emissions through 2020. The company expects constructive regulation to support capital investments and rate base growth of 7.5% annually through 2011.
This document summarizes Xcel Energy's strategy to reduce carbon emissions while growing earnings. Key points include:
- Xcel aims to reduce carbon emissions 20-30% by 2020-2025 while achieving 5-7% annual EPS growth and increasing dividends 2-4% annually.
- Plans for Minnesota and Colorado include adding significant renewable energy like wind and solar, retiring some coal plants, and expanding energy efficiency programs.
- Xcel has constructive regulation allowing recovery of investment in areas like transmission, renewables and environmental upgrades.
- The company expects to invest $2-2.5 billion annually through 2011 to grow its rate base 7.5% annually and deliver earnings growth.
This document provides an overview of Xcel Energy's strategy to align stakeholders and achieve success through 2022. Key points include:
- Xcel Energy is well positioned for renewable energy growth and potential climate policies due to its ability to meet renewable portfolio standards and environmental initiatives across eight states.
- The company forecasts renewable resources such as wind, solar, and biomass will grow substantially to comprise 24% of its energy mix by 2020 compared to 9% in 2007.
- Xcel Energy is seeking rate relief through rider mechanisms and rate cases to recover investments in transmission, renewable generation, and other capital projects aimed at reducing emissions.
- The company expects to deliver 5-7% annual EPS growth and 2
This document provides an overview of Xcel Energy's strategy to align stakeholders and achieve success through 2022. Key points include:
- Xcel Energy is well-positioned for renewable portfolio standards and environmental regulations due to its renewable resources and ability to provide clean energy.
- The company addresses public policy mandates for renewable energy and carbon reduction in its states. It is expanding investment in renewable generation such as wind and solar.
- Xcel Energy forecasts strong rate base and earnings per share growth through 2020 driven by its capital expenditure plans focused on generation, transmission and distribution investments.
- The company maintains constructive regulation with enhanced recovery mechanisms which support its investment opportunities and financial execution.
This document provides an overview and summary of Xcel Energy's strategy to reduce carbon emissions while growing earnings. Key points include:
- Xcel aims to achieve annual EPS growth of 5-7% and increase its dividend by 2-4% annually while reducing carbon emissions 30% by 2020.
- Resource plans in Minnesota and Colorado seek approval for increasing renewable energy, demand side management programs, and natural gas generation to reduce carbon emissions.
- Constructive regulation and a pipeline of investment opportunities in areas like transmission, renewables and environmental upgrades provide earnings growth potential.
- Xcel is well positioned geographically and through its diverse portfolio to comply with potential climate change legislation and be an environmental leader.
This document provides an overview and summary of Xcel Energy's strategy to reduce carbon emissions while growing earnings. Key points include:
- Xcel aims to achieve annual EPS growth of 5-7% and increase its dividend by 2-4% annually while reducing carbon emissions 30% by 2020 through investments in renewables, energy efficiency, and environmental upgrades.
- Resource plans for Minnesota and Colorado outline specific goals and investments to reduce emissions through increased wind and solar generation, gas plant additions, and efficiency programs.
- Constructive regulation and riders support recovery of capital investments in areas like transmission, renewables and environmental upgrades.
- A track record of meeting earnings and dividend growth targets demonstrates the company's ability
xcel energy 4_10MinneapolisInvestorMtgSECApril2007finance26
This document summarizes a presentation given by Xcel Energy to investors. It outlines Xcel's strategy of investing in regulated utility infrastructure to drive sustainable earnings growth of 5-7% annually. It highlights Xcel's leadership in renewable energy and environmental initiatives. The presentation also reviews Xcel's constructive regulatory relationships and mechanisms to recover costs and earn fair returns on investments.
xcel energy 4_10MinneapolisInvestorMtgSECApril2007finance26
This document summarizes a presentation given by Xcel Energy to investors. It outlines Xcel's strategy of investing in regulated utility infrastructure to drive sustainable earnings growth of 5-7% annually. It highlights Xcel's leadership in renewable energy and environmental initiatives. The presentation also reviews Xcel's constructive regulatory relationships and mechanisms to recover costs and earn fair returns on investments.
Similar to xcel energy 9_4LehmanConfPresentation952007SEC (20)
This document provides an overview and financial projections for Xcel Energy. It discusses Xcel Energy's integrated utility operations, forecasts steady customer and earnings growth, and outlines plans to reduce emissions and refurbish coal plants. It also summarizes Xcel Energy's liquidity and debt refinancing plans, provides 2003 earnings guidance, and outlines priorities including resolving its involvement with bankrupt company NRG.
This document provides an overview and financial projections for Xcel Energy. It discusses Xcel Energy's integrated utility operations, forecasts steady customer and earnings growth, and outlines plans to reduce emissions and refurbish coal plants. It also summarizes Xcel Energy's liquidity and debt refinancing plans, provides 2003 earnings guidance, and outlines priorities including resolving its NRG investment and maintaining its dividend.
This document provides an overview and financial projections for Xcel Energy. It discusses Xcel Energy's integrated utility operations, forecasts steady customer and earnings growth, and outlines plans to reduce emissions and refurbish coal plants. It also summarizes Xcel Energy's liquidity and debt refinancing plans, provides 2003 earnings guidance, and outlines priorities including resolving its involvement with bankrupt company NRG.
This document summarizes Xcel Energy's presentation at the 2003 Banc of America Securities Investment Conference. It outlines Xcel Energy's operations as an integrated utility across multiple US states, financial metrics including earnings growth and dividend yield, efforts to divest from the unprofitable NRG Energy business, and capital expenditure plans including converting coal plants to natural gas to reduce emissions. It also provides guidance for 2003 earnings per share and outlines financing plans to redeem higher interest debt.
This document summarizes Xcel Energy's presentation at the 2003 Banc of America Securities Investment Conference. It outlines Xcel Energy's operations as an integrated utility across multiple US states, its financial performance and guidance, initiatives to reduce emissions in Minnesota, and capital expenditure and financing plans. It highlights Xcel Energy's regulated business model, commitment to dividends, efforts to resolve issues related to its former subsidiary NRG, and expectations for continued earnings growth.
This document summarizes an investor presentation by Xcel Energy on its business operations and financial outlook. It discusses Xcel Energy's integrated utility operations, positive cash flow generation, plans to divest its stake in NRG Energy through bankruptcy proceedings, financial guidance for 2003 including earnings per share, and capital expenditure plans. The presentation also provides comparisons of Xcel Energy's operating metrics to industry peers.
This document provides an overview of Xcel Energy's financial performance and objectives presented at the Edison Electric Institute Financial Conference in October 2003. Key points include: Xcel achieved several accomplishments in 2003 including settling with NRG creditors and maintaining investment grade ratings. Objectives are to invest in utility assets, provide competitive returns, and improve credit ratings. Earnings guidance for 2003 is $1.48-$1.53 per share and $1.15-$1.25 for 2004, driven by utility operations and tax benefits from NRG. The presentation outlines capital expenditures, financing plans, and regulatory strategies.
This document provides an overview of Xcel Energy's financial performance and objectives presented at the Edison Electric Institute Financial Conference in October 2003. Key points include: Xcel achieved several accomplishments in 2003 including settling with NRG creditors and maintaining investment grade ratings. Objectives are to invest in utility assets, provide competitive returns, and improve credit ratings. Earnings guidance for 2003 is $1.48-$1.53 per share and $1.15-$1.25 for 2004, driven by utility operations and tax benefits from NRG. The presentation outlines capital expenditures, financing plans, and regulatory strategies.
This document provides an overview of Xcel Energy from their presentation at the Banc of America Securities Energy & Power Conference in November 2003. Key points include that Xcel achieved several accomplishments in 2003 including settling with NRG creditors and maintaining investment grade ratings. Objectives for 2004 include investing additional capital in utilities, providing competitive returns to shareholders, and improving credit ratings. Earnings guidance for 2003 is $1.48-$1.53 per share and $1.15-$1.25 per share for 2004.
This document summarizes Xcel Energy's presentation at the Banc of America Securities Energy & Power Conference on November 17-19, 2003. It discusses Xcel Energy's accomplishments in 2003, objectives for investment, earnings growth, and credit ratings improvement. It also provides guidance on projected 2003 and 2004 earnings, cash flows, utility investments, and the expected timeline for NRG's emergence from bankruptcy.
This document summarizes Xcel Energy's presentation at the Banc of America Securities Energy & Power Conference on November 17-19, 2003. It discusses Xcel Energy's accomplishments in 2003, objectives for investment, earnings growth, and credit ratings improvement. It also provides guidance on projected 2003 and 2004 earnings, cash flows, utility investments, and the expected timeline for NRG's emergence from bankruptcy.
This document provides an overview of Xcel Energy Inc. for investors attending the EEI International Financial Conference. It summarizes Xcel's financial performance, business segments, generation assets, environmental commitments, regulatory strategy, and earnings guidance. The presentation outlines Xcel's strengths as a utility, investment merits, and objectives to invest additional capital in its utility business and improve credit ratings while providing competitive returns.
This document provides an overview of Xcel Energy Inc. for investors attending the EEI International Financial Conference. It summarizes Xcel's financial performance, business segments, generation assets, environmental commitments, regulatory strategy, and earnings guidance. The presentation outlines Xcel's strengths as a growing utility, its investment merits, and capital expenditure plans to improve its credit ratings and provide competitive returns.
Xcel Energy reported improved second quarter 2004 earnings compared to the second quarter of 2003. Net income for the quarter was $86 million, or $0.21 per share, compared to a net loss of $283 million, or $0.71 per share in 2003. Regulated utility earnings from continuing operations improved to $89 million in 2004 from $77 million in 2003. Results from discontinued operations were earnings of $5 million in 2004 compared to losses of $337 million in 2003. The company maintained its annual earnings guidance of $1.15 to $1.25 per share.
This document summarizes a presentation given by Dick Kelly, president and COO of Xcel Energy, at a Lehman Brothers energy conference on September 8, 2004. Kelly outlines Xcel Energy's strategy of investing $900-950 million annually in its utility assets to meet growth, while also pursuing specific generation projects, including a $1 billion coal plant expansion in Colorado. Kelly projects total shareholder return of 7-9% annually through earnings growth of 2-4% and a dividend yield of around 5%.
Wayne Brunetti is the Chairman and CEO of Xcel Energy, a major electric and gas utility. The document discusses Xcel Energy's business strategy, which involves continued investment in its utility assets to meet growth. Key capital projects include a $1 billion emissions reduction program in Minnesota and a proposed $1.3 billion coal plant in Colorado. The summary also provides Xcel Energy's earnings guidance for 2004 and discusses its dividend policy. Brunetti emphasizes that Xcel Energy needs clarity on public policy regarding energy and the environment to effectively plan and invest.
Wayne Brunetti is the Chairman and CEO of Xcel Energy, a major electric and gas utility. The document discusses Xcel Energy's business strategy, which involves continued investment in its utility assets to meet growth. Key capital projects include a $1 billion emissions reduction program in Minnesota and a proposed $1.3 billion coal plant in Colorado. The summary also outlines Xcel Energy's financial metrics, earnings guidance, and dividend policy. Brunetti emphasizes that Xcel Energy needs clarity on public policy regarding energy and the environment to effectively plan and invest.
Wayne Brunetti is the Chairman and CEO of Xcel Energy, a major electric and gas utility. The document discusses Xcel Energy's business strategy, which involves continued investment in its utility assets to meet growth. Key capital projects include a $1 billion emissions reduction program in Minnesota and a proposed $1.3 billion coal plant in Colorado. The summary also provides Xcel Energy's earnings guidance for 2004 and discusses its dividend policy. Brunetti emphasizes that Xcel Energy needs clarity on public policy regarding energy and the environment to effectively plan and invest.
- Xcel Energy reported income from continuing operations of $166 million, or $0.40 per share for Q3 2004, down from $185 million, or $0.44 per share in Q3 2003.
- Significantly cooler temperatures in Q3 2004 reduced earnings compared to the prior year. However, lower depreciation and utility expenses partially offset the weather impact.
- For the first nine months of 2004, earnings from continuing operations were $400 million, or $0.97 per share, up from $373 million, or $0.91 per share in the same period in 2003.
This document summarizes key points from a presentation given at an Edison Electric Institute financial conference. It outlines Xcel Energy's strategy to increase investment in its utility assets to drive growth and earnings, earn its authorized regulatory returns, and deliver total shareholder returns of 7-9% annually through earnings growth and dividends. Specific capital projects and regulatory filings aimed at achieving these goals are also mentioned.
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xcel energy 9_4LehmanConfPresentation952007SEC
1. Delivering on Expectations
Ben Fowke
Vice President and CFO
Lehman Brothers Conference
September 5, 2007
New York City, NY
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. Value Proposition
• 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
~ 4.5%
Dividend yield
Dividend growth of 2% – 4% per year
4. Delivering on Expectations
2007 Accomplishments
• Positive resolution of the COLI program
• Completed upgrade of the King plant
• Signed 100-MW wind development project
• Filed Certificate of Need for CapX 2020
• Constructive resolutions of several rate cases
• Filed rate cases in Wisconsin and New Mexico
• Increased dividend 3.4%
• Positioned to deliver 2007 earnings from continuing
operations at the high-end or potentially exceeding
guidance range
5. Delivering on Expectations
Strong Construction Management
• Minnesota Emissions Reduction Project
– Approximately 75% of capital spent
– King upgrade completed on schedule
– Project is within 5% of original budget
• Comanche 3
– Approximately 45% of capital spent
– Project is on schedule
– Project is on budget
– Estimated plant cost is approximately $1,400/kw
– Estimated all-in cost is approximately $1,800/kw
6. Capital Investment Opportunities
Capital Expenditures by Function ($Millions)
$1,900 $1,900 $1,850
$1,700
$1,700
2007 2008 2009 2010 2011
Elec Gen Elec Tran Elec Dist
Gas Nuclear Fuel Common/Other
7. Transmission Expansion - CapX 2020
North Dakota
Minnesota Group I
~
~
Total Cost $1.4 - $1.7 Billion
~
~
Wisconsin Xcel Share $800 - $900 Million
Certificate of Need Filed
In Service in 2014
Post Group I
South Dakota
In Service 2014 – 2020
Iowa
Group I
Group II
8. Nuclear Life Extension and Uprate
• Monticello
– Life extension approximately $150 million
– Power uprate approximately $130 million ($1,850/kw)
• 15 MW new capacity in 2009
• 56 MW new capacity in 2011
• Prairie Island
– Life extension approximately $400 million
• Includes Unit 2 steam generator replacement
– Power uprate approximately $320 million ($1,900/kw)
• 82 MW new capacity on Unit 1 in 2012
• 82 MW new capacity on Unit 2 in 2015
9. Enhanced Recovery on Capital Investment
Capital Expenditures ($Millions)
$2,000
$1,600
$1,200
$800
$400
$0
2007 2008 2009 2010 2011
Depreciation
Traditional Enhanced Recovery
11. Incremental Investment Opportunities
• Capital expenditure forecast is being updated
and should be completed in third quarter
• Forecast is expected to increase:
– Additional wind generation
– Additional transmission
– Potential needs from resource plans
• Incremental investment will drive future
EPS growth
12. Funding Plan Through 2009
• Cash from operations
• NOL tax benefits
• DRIP
• Debt issuances
• Hybrid issuance
• Potential equity issuance
13. Delivering on EPS Growth Objective
2007 Continuing Operations EPS Guidance
$1.30 - $1.40 Guidance
$1.30
$1.15 Range
13% >7%
2005 Actual 2006 Actual 2007 Guidance
Utility Operations $1.45 – $1.55
Holding Company & Other (0.15)
Continuing Operations $1.30 – $1.40*
Disc Ops $(0.10) – $(0.08)
Total Xcel Energy $1.20 – $1.32
* Xcel Energy is positioned to deliver 2007 earnings from continuing
operations at the high-end or potentially exceeding guidance range
15. Delivering on Expectations
Additional Catalysts
• Colorado rate case to be filed in fall 2007
– Based on forecast test year
• Resource plans to be filed
– Colorado: October 2007
– Minnesota: December 2007
• Additional capital investment opportunities
• Actions to improve earned ROE in
jurisdictions where we aren’t earning our
authorized return
16. Key Take-Aways
• Strong regulatory recovery mechanisms
– Forward test years
– Riders for major capital projects
– Fuel clause and PGA recovery
• Opportunities exist to improve earned ROE in
jurisdictions where we aren’t earning our
authorized return
• Significant capital investment opportunities
• We are disciplined portfolio managers
• Capital investment is driven by customer
requirements and economic signals
17. Value Proposition
• 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
~ 4.5%
Dividend yield
Dividend growth of 2% – 4% per year
18. Upcoming Analyst Meeting
December 5th
Date:
Location: New York Marriott Marquis
Times Square
Details to follow in the coming weeks
20. Profile
NSP- Minnesota Traditional Regulation
NSP- Wisconsin
47% of net income
7% of net income Operate in 8 States
Combination Utility:
• Electric 85% of net income
• Gas 15% of net income
PSCo
38% of net income
Customers:
• 3.3 million electric
• 1.8 million gas
2006 Financial Stats:
• NI Cont Op = $548 million
• Assets = $22 billion
SPS • Equity Ratio = 43%
8% of net income • GAAP ROE = 10.1%
2006 EPS $1.30 continuing operations
2007 Dividend $0.92 per share annualized
21. Xcel Energy Supply Sources
2006 2006 Owned
Energy Supply Mix* Generating Facilities
Gas & Oil Nuclear
Unit Type Units MW
27% 12%
Coal 35 8,182
Renewables
9% Natural Gas 58 4,987
Nuclear 3 1,668
Hydro 83 508
Oil 24 460
RDF 6 67
Coal **
Wind 37 27
52%
Total 15,899
* Includes purchases
** Low-sulfur western coal
Low-sulfur
22. 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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26. Constructive Regulation
2006 Rate Case Outcomes (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% 10.5%
* $131 million for 2006 reduced to $115 million in 2007 for large
customer coming on-line January 1, 2007
27. 2007 Rate Case Outcomes
$Millions
Dollar Increase Return on Equity
Requested Granted Requested Granted
Colorado Gas $41.9 $32.3 11.0% 10.25%
North Dakota Gas $2.8 $2.3 11.3% 10.75%
Texas Electric $48.0 $23.0 11.6% NA
Minnesota Gas $18.5 $11.9 11.0% 9.71%
28. Pending Rate Cases
Dollars in millions
Revenue Requested Interim
Jurisdiction Request ROE Rate Decision
Wisconsin Electric $67.4 11.0% NA Dec. 2007
Wisconsin Gas $5.3 11.0% NA Dec. 2007
New Mexico Electric $17.3 11.0% NA Summer 2008
Future Rate Cases:
* Colorado electric rate case filing planned for the fall of 2007
* Texas electric rate case filing planned for 2008
30. Capital Expenditures by Op Co
$Millions
2007 2008 2009 2010 2011
NSP-MN $995 $1,050 $1,000 $1,090 $995
PSCo 690 635 515 580 490
SPS 140 130 130 120 150
NSP-WI 75 85 55 60 65
Total $1,900 $1,900 $1,700 $1,850 $1,700
31. Capital Expenditures by Function
$Millions
2007 2008 2009 2010 2011
Elec Gen $837 $874 $624 $683 $658
Elec Tran 390 251 307 428 318
Elec Dist 317 318 325 329 298
Gas 117 141 165 139 121
Nuclear Fuel 87 161 147 105 165
Common/Other 152 155 132 167 140
Total $1,900 $1,900 $1,700 $1,850 $1,700
32. 2006 Rate Base and ROE
W/N
$Millions
Rate Base Earned ROE
Minnesota Electric $3,599 10.3%
Minnesota Gas 441 6.1
North Dakota Electric 188 8.9
North Dakota Gas 44 7.5
South Dakota Electric 232 11.1
Colorado Electric 3,292 7.7
Colorado Gas 1,106 7.8
Wisconsin Electric 556 10.7
Wisconsin Gas 77 4.6
Texas Electric 977 6.5
New Mexico Electric 311 6.2
Wholesale 879 NR
Total Rate Base $11,702
NR = Not Reported
33. Environmental Leadership
• Number 1 utility wind provider
— 1,300 MW on-line
on-line
— 2,800 MW projected by year-end 2007
year-end
• Over 2,000 MW of conservation and DSM achieved
• One of the largest U.S. solar photovoltaic projects
• Evaluating an IGCC with sequestration
• Reducing emissions and increasing efficiency at power plants
— MERP
— Comanche
— Sherco Upgrade Project
• Planning life extension and capacity increases at nuclear plants
• Member of Dow Jones Sustainability Index
34. Xcel Energy and Wind Potential
Source: National Renewable Energy Laboratory
Wind Density
High
Xcel Energy
States Served
Low
36. Northern States Power – Minnesota
2006 Financials ($Millions)
North Dakota Minnesota
Earnings Cont. Op $272
Assets $9,079
GAAP ROE 11.2%
Equity Ratio 52.3%
2006 Owned Generation (MW)
(NSP System)
Coal 3,590
South Dakota
Nuclear 1,817
Gas 2,335
Renewable 399
2006 Customers
Electric 1,360,000
2006 Retail Sales
Gas 465,000
(Thousands of Mwh / MMBtu)
Electric 35,923
Gas 70,497
37. NSP-M 2006 Rate Base and ROE
$Millions W/N
Rate Base Earned ROE
Minnesota Electric $3,599 10.3%
Minnesota Gas 441 6.1
North Dakota Electric 188 8.9
North Dakota Gas 44 7.5
South Dakota Electric 232 11.1
Wholesale 27 NR
Total Rate Base $4,531
Regulated Equity Ratio = 51.6%
NR = Not Reported
38. Minnesota Recovery Mechanisms
• Forward test year with interim rates
• MERP rider
• Transmission rider
• Conservation improvement program rider
• Mercury reduction & environmental improvement rider
• RDF rider
• State energy policy rider
• Fuel clause adjustment
• Purchased gas adjustment
39. Dakota’s Recovery Mechanisms
• Forward test year with interim rates (ND)
• Historical test year (SD)
• Environmental rider (ND & SD)
• Transmission rider (ND & SD)
• Fuel clause adjustment (ND & SD)
• Full decoupling on retail natural gas (ND)
40. Public Service Company of Colorado
2006 Financials ($Millions)
Colorado
Earnings Cont. Op $221
Assets $8,363
GAAP ROE 7.8%
Equity Ratio 56.5%
2006 Owned Generation (MW)
Coal 2,656
Gas 1,026
Wind 54
Renewable 358
2006 Customers
2006 Retail Sales
Electric 1,320,000
(Thousands of Mwh / MMBtu)
Gas 1,250,000
Electric 27,198
Gas 125,123
41. PSCo 2006 Rate Base and ROE
$Millions W/N
Rate Base Earned ROE
Colorado Electric $3,292 7.7%
Colorado Gas 1,106 7.8
Wholesale 418 NR
Total Rate Base $4,816
Regulated Equity Ratio = 60.3%
NR = Not Reported
42. Colorado Recovery Mechanisms
• Ability to file either historical or forecast test years
• Purchased capacity cost adjustment
• Comanche 3 – forward CWIP via general rate case
• Transmission rider
• Renewable energy rider
• IGCC rider (if there is an approved project)
• Demand side management cost adjustment rider
• Air quality improvement rider
• Energy cost adjustment
• Gas cost adjustment
• Partial decoupling on retail natural gas
43. Northern States Power – Wisconsin
Upper Michigan
2006 Financials ($Millions)
Earnings Cont. Op $44
Assets $1,251
GAAP ROE 9.7%
Equity Ratio 57.1%
2006 Owned Generation (MW)
Included in NSP System
Wisconsin
2006 Retail Sales
(Thousands of Mwh / MMBtu)
Electric 6,173
2006 Customers
Gas 14,568
Electric 245,000
Gas 100,000
44. NSP-W 2006 Rate Base and ROE
$Millions W/N
Rate Base Earned ROE
Wisconsin Electric $556 10.7%
Wisconsin Gas 77 4.6
Wholesale 29 4.4
Michigan Electric 14 8.4
Michigan Gas 3 2.2
Total Rate Base $679
Regulated Equity Ratio = 56.1%
45. Wisconsin Recovery Mechanisms
• Forward test year
• Ability to file for prospective fuel & purchase energy
adjustments (Wisconsin)
• Fuel clause adjustment – wholesale
• Purchased gas adjustment
• Fuel clause factor (Michigan retail)
46. Southwestern Public Service
New Mexico
2006 Financials ($Millions)
Earnings Cont. Op $48
Assets $2,619
GAAP ROE 5.9%
Equity Ratio 49.1%
2006 Owned Generation (MW)
Coal 2,073
Texas
Gas 2,078
2006 Retail Sales
2006 Customers
(Thousands of Mwh / MMBtu)
Electric 385,000
Electric 17,291
47. SPS 2006 Rate Base and ROE
$Millions
W/N
Rate Base Earned ROE
Texas Electric $977 6.5%
New Mexico Electric 311 6.2
Wholesale 404 NR
Total Rate Base $1,692
Regulated Equity Ratio = 50.1%
NR = Not Reported
48. SPS Recovery Mechanisms
• Historical test year (Texas & New Mexico)
• Texas fixed fuel factor recovery
• New Mexico fuel clause adjustment
• Ability to establish interim rates through rate case to
recover capacity costs associated the Lea Power
contract (Texas)