George Tyson, Vice President and Treasurer of Xcel Energy, presented at a West Coast seminar on February 15, 2007. He discussed Xcel's financial objectives of 5-7% annual EPS growth and 2-4% annual dividend growth per share. He outlined Xcel's strategy of investing in regulated utility operations, environmental leadership, and obtaining constructive regulation. Tyson also provided an overview of various capital projects and cost recovery mechanisms across Xcel's service territories.
xcel energy 3_19_2007MidwestInvMtgsSECMarch2007finance26
This document summarizes a presentation made by Xcel Energy to investors in March 2007. It discusses Xcel's strategy of investing in regulated utility operations to drive sustainable earnings growth of 5-7% through initiatives like renewable energy, transmission expansion, and environmental upgrades. It also outlines Xcel's constructive regulatory relationships and cost recovery mechanisms across its eight-state service territory.
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.
The document summarizes Progress Energy's Q3 2008 earnings call. It discusses ongoing earnings of $306M for Q3 2008, regulatory updates in the Carolinas and Florida, energy efficiency and alternative energy programs, and $7-8B in capital expenditures through 2013 for major generation projects. Cost controls have kept year-to-date O&M expenses flat compared to 2007 despite 2.5% reported growth. Customer growth has been positive but milder weather reduced retail usage. Guidance of $2.95-3.05 for 2008 ongoing earnings is maintained based on a trailing 12-month EPS of $2.91. Liquidity remains strong with $1.9B in available credit facilities and cash.
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.
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.
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 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.
The document discusses Xcel Energy's strategy to build its core business and execute on its growth strategy through 2022. It outlines Xcel's operating regions and earnings drivers, including growing its rate base by investing over $13 billion through 2022. Major generation and transmission projects are described that will support growth, including Comanche Unit 3, CapX2020 transmission initiatives, and investments to comply with environmental regulations. Upcoming rate cases in several states are also summarized that aim to increase returns on equity to 11%.
xcel energy 3_19_2007MidwestInvMtgsSECMarch2007finance26
This document summarizes a presentation made by Xcel Energy to investors in March 2007. It discusses Xcel's strategy of investing in regulated utility operations to drive sustainable earnings growth of 5-7% through initiatives like renewable energy, transmission expansion, and environmental upgrades. It also outlines Xcel's constructive regulatory relationships and cost recovery mechanisms across its eight-state service territory.
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.
The document summarizes Progress Energy's Q3 2008 earnings call. It discusses ongoing earnings of $306M for Q3 2008, regulatory updates in the Carolinas and Florida, energy efficiency and alternative energy programs, and $7-8B in capital expenditures through 2013 for major generation projects. Cost controls have kept year-to-date O&M expenses flat compared to 2007 despite 2.5% reported growth. Customer growth has been positive but milder weather reduced retail usage. Guidance of $2.95-3.05 for 2008 ongoing earnings is maintained based on a trailing 12-month EPS of $2.91. Liquidity remains strong with $1.9B in available credit facilities and cash.
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.
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.
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 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.
The document discusses Xcel Energy's strategy to build its core business and execute on its growth strategy through 2022. It outlines Xcel's operating regions and earnings drivers, including growing its rate base by investing over $13 billion through 2022. Major generation and transmission projects are described that will support growth, including Comanche Unit 3, CapX2020 transmission initiatives, and investments to comply with environmental regulations. Upcoming rate cases in several states are also summarized that aim to increase returns on equity to 11%.
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 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.
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 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 discusses Xcel Energy's strategy for sustainable growth through investments in regulated utility operations and environmental leadership. It outlines Xcel's plans to invest in renewable energy, transmission infrastructure, and environmental upgrades. This is expected to drive earnings per share growth of 5-7% annually and annual dividend growth of 2-4%. Regulatory mechanisms allow for recovery of major capital investments.
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 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.
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.
xcel energy 3_19_2007MidwestInvMtgsSECMarch2007finance26
This document summarizes a presentation made by Xcel Energy to investors in March 2007. It outlines Xcel's strategy of sustainable growth through significant capital investments in regulated utility infrastructure and renewable energy. This will allow them to achieve earnings per share growth of 5-7% annually and dividend growth of 2-4% per year. Key capital investment opportunities include renewable projects, environmental initiatives, and transmission upgrades. Xcel has received constructive regulation allowing forward recovery for many major 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.
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 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 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 provides an overview of Xcel Energy's strategy to invest in regulated utility assets and increase its earned return on equity. It discusses regulatory approvals and rate cases that allow recovery of investments. Key investments include CapX2020 transmission projects totaling over $3 billion through 2020 and ongoing capital expenditures of approximately $1 billion per year. Financial targets include 5-7% annual EPS growth and 2-4% annual 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.
The document discusses Xcel Energy's strategy to build its core business and execute on its growth strategy through 2022. It outlines Xcel's operating regions and earnings drivers, including growing its rate base by investing over $13 billion through 2022. Major generation and transmission projects are described that will support growth, including Comanche Unit 3, CapX2020 transmission initiatives, and investments to comply with environmental regulations. Upcoming rate cases in several states are also summarized that aim to increase returns on equity to 11%.
This document summarizes Xcel Energy's strategy for executing its core business and driving earnings growth between 2006 and 2020. It discusses planned investments in rate base, transmission infrastructure, generation assets and environmental upgrades. Key initiatives include the Comanche 3 plant, CapX2020 transmission projects, and nuclear license renewals. The presentation outlines regulatory proceedings, cost recovery mechanisms, and financial performance targets, with the goal of delivering steady EPS and dividend growth.
This document provides a summary from Ben Fowke, Vice President and CFO of Xcel Energy, given at the AGA Financial Forum on April 29 - May 1, 2007. It outlines Xcel Energy's strategy of focusing on regulated utility operations to drive sustainable 5-7% EPS growth and 2-4% annual dividend growth. It also highlights Xcel Energy's environmental leadership in wind and other renewable energy, and discusses regulatory matters and major capital projects.
Xcel Energy is an electric and gas utility company operating in several Midwestern and Western states, with plans to invest over $1 billion per year through 2011 to upgrade its infrastructure and generation facilities. The company aims to grow earnings per share by 5-7% annually through 2009 by increasing its regulated rate base and return on equity through rate cases. Xcel Energy also discusses various regulatory proceedings and cost recovery mechanisms across its jurisdictions.
Xcel Energy is an electric and gas utility company operating in several Midwestern and Western states, with plans to invest approximately $1 billion per year through 2011 to upgrade its infrastructure and generation facilities. The company aims to grow earnings per share by 5-7% annually through 2009 by increasing its regulated rate base and return on equity through rate cases. Xcel Energy also discusses various regulatory proceedings and cost recovery mechanisms across its jurisdictions.
Xcel Energy is an electric and gas utility company operating in several Midwestern and Western states, with plans to invest over $1 billion per year through 2011 to upgrade its infrastructure and generation facilities. The company aims to grow earnings per share by 5-7% annually through 2009 by increasing its regulated rate base and return on equity through rate cases. Xcel Energy also discusses various regulatory proceedings and cost recovery mechanisms across its jurisdictions.
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 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 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.
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 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 discusses Xcel Energy's strategy for sustainable growth through investments in regulated utility operations and environmental leadership. It outlines Xcel's plans to invest in renewable energy, transmission infrastructure, and environmental upgrades. This is expected to drive earnings per share growth of 5-7% annually and annual dividend growth of 2-4%. Regulatory mechanisms allow for recovery of major capital investments.
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 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.
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.
xcel energy 3_19_2007MidwestInvMtgsSECMarch2007finance26
This document summarizes a presentation made by Xcel Energy to investors in March 2007. It outlines Xcel's strategy of sustainable growth through significant capital investments in regulated utility infrastructure and renewable energy. This will allow them to achieve earnings per share growth of 5-7% annually and dividend growth of 2-4% per year. Key capital investment opportunities include renewable projects, environmental initiatives, and transmission upgrades. Xcel has received constructive regulation allowing forward recovery for many major 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.
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 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 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 provides an overview of Xcel Energy's strategy to invest in regulated utility assets and increase its earned return on equity. It discusses regulatory approvals and rate cases that allow recovery of investments. Key investments include CapX2020 transmission projects totaling over $3 billion through 2020 and ongoing capital expenditures of approximately $1 billion per year. Financial targets include 5-7% annual EPS growth and 2-4% annual 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.
The document discusses Xcel Energy's strategy to build its core business and execute on its growth strategy through 2022. It outlines Xcel's operating regions and earnings drivers, including growing its rate base by investing over $13 billion through 2022. Major generation and transmission projects are described that will support growth, including Comanche Unit 3, CapX2020 transmission initiatives, and investments to comply with environmental regulations. Upcoming rate cases in several states are also summarized that aim to increase returns on equity to 11%.
This document summarizes Xcel Energy's strategy for executing its core business and driving earnings growth between 2006 and 2020. It discusses planned investments in rate base, transmission infrastructure, generation assets and environmental upgrades. Key initiatives include the Comanche 3 plant, CapX2020 transmission projects, and nuclear license renewals. The presentation outlines regulatory proceedings, cost recovery mechanisms, and financial performance targets, with the goal of delivering steady EPS and dividend growth.
This document provides a summary from Ben Fowke, Vice President and CFO of Xcel Energy, given at the AGA Financial Forum on April 29 - May 1, 2007. It outlines Xcel Energy's strategy of focusing on regulated utility operations to drive sustainable 5-7% EPS growth and 2-4% annual dividend growth. It also highlights Xcel Energy's environmental leadership in wind and other renewable energy, and discusses regulatory matters and major capital projects.
Xcel Energy is an electric and gas utility company operating in several Midwestern and Western states, with plans to invest over $1 billion per year through 2011 to upgrade its infrastructure and generation facilities. The company aims to grow earnings per share by 5-7% annually through 2009 by increasing its regulated rate base and return on equity through rate cases. Xcel Energy also discusses various regulatory proceedings and cost recovery mechanisms across its jurisdictions.
Xcel Energy is an electric and gas utility company operating in several Midwestern and Western states, with plans to invest approximately $1 billion per year through 2011 to upgrade its infrastructure and generation facilities. The company aims to grow earnings per share by 5-7% annually through 2009 by increasing its regulated rate base and return on equity through rate cases. Xcel Energy also discusses various regulatory proceedings and cost recovery mechanisms across its jurisdictions.
Xcel Energy is an electric and gas utility company operating in several Midwestern and Western states, with plans to invest over $1 billion per year through 2011 to upgrade its infrastructure and generation facilities. The company aims to grow earnings per share by 5-7% annually through 2009 by increasing its regulated rate base and return on equity through rate cases. Xcel Energy also discusses various regulatory proceedings and cost recovery mechanisms across its jurisdictions.
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 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 7SWRegulatory_Plan_Xcel_Energy_12052007finance26
This document summarizes Scott Wilensky's regulatory plan presentation given in December 2007. It discusses Xcel Energy's recent achievements in rate cases from 2006-2007 that provided $400 million in rate relief. It outlines keys to regulatory success like collaboration and transparency. Current regulatory activities include upcoming rate cases in Wisconsin, New Mexico, and North Dakota. New initiatives include proposals for demand-side management incentives in Colorado and Minnesota and recovering nuclear outage costs. The regulatory agenda is ambitious with the potential for eight rate cases in 2008 and multiple investment rider mechanisms providing projected rider revenue of $207 million in 2008.
xcel energy 7SWRegulatory_Plan_Xcel_Energy_12052007finance26
This document summarizes Scott Wilensky's regulatory plan presentation given in December 2007. It discusses Xcel Energy's recent achievements in rate cases from 2006-2007 that provided $400 million in rate relief. It outlines keys to regulatory success like collaboration and transparency. Current regulatory activities include upcoming rate cases in Wisconsin, New Mexico, and North Dakota. New initiatives include proposals for demand-side management incentives in Colorado and Minnesota and recovering nuclear outage costs. The regulatory agenda is ambitious with the potential for eight rate cases in 2008 and multiple investment rider mechanisms providing projected rider revenue of $207 million in 2008.
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.
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 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 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.
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 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.
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1. ®
Building the Core
Sustainable Growth
George Tyson
Vice President and Treasurer
Berenson – Wall Street Access
West Coast Seminar
February 15, 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 2005.
3. ®
Financial Objectives
5% – 7% EPS growth *
Dividend per share
growth 2% – 4% per year
Improve credit rating
* Excluding any impact from corporate-owned life insurance
(COLI) program
3
4. ®
Strategy: Building the Core
Invest in our fully regulated utility operations
— Meet customers’ needs
— Provide environmental leadership
Investment facilitated by constructive regulatory
climate
Timely regulatory recovery
Earn a reasonable authorized return
4
5. ®
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
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6. ®
Environmental Leadership
Largest U.S. 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
6
7. ®
Getting the Rules Right
Helping shape public policy
Credibility and leadership to achieve consensus
on the appropriate balance:
— Customers
— Communities
— Environmentalists
— Regulators
— Legislators
— Investors
7
9. ®
Allocation of Capital
Investment driven by:
— Customer need
— Managing cost
— Supportive regulatory environment
— Risk-adjusted return
Increased customer and shareholder value
9
10. ®
Significant Capital Investment Pipeline
Growing service territory
Environmental initiatives
Renewable portfolio standards
Major projects included in capital forecast:
— MERP
— Comanche 3
— CapX 2020
— Nuclear life extension and uprates
Capital investment will drive sustainable growth
10
11. ®
Potential Project – Sherco Upgrade
Increase Xcel Energy’s capacity by 140 MW
Upgrade and enhance environmental system
Construction would start late 2008 through 2012
Seeking rider recovery in Minnesota
Commission approval required
Capital investment = approximately $900 million
11
12. ®
Potential Project – WYCO
Existing business structure (established 1999)
Joint venture with Colorado Interstate Gas (50/50)
168 miles of gas transmission pipeline
7 Bcf of gas storage
Xcel Energy investment = approximately $145 million
CIG will construct, lease and operate the facility
Regulated by FERC
Operational in 2009
12
13. ®
Potential Project – Wind Generation
Acquire 100 MW of wind generation
Build-owner-transfer structure
Capital investment of approximately $210 million
Commission approval required
Rider recovery in Minnesota
13
14. ®
Potential Project – IGCC
Potential 300-350 MW demonstration project
Committed $3.5 million for project development
Determine feasibility of IGCC at higher altitude
using western coal
Legislation passed providing rider recovery
Plan to file with Colorado PUC in 2007
Potential capital investment to be determined
14
15. ®
Constructive Regulation
Recent 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
** $107 million base rates, $39.4 million PCCA and $4.6 million Windsource
15
16. ®
Texas Electric Rate Case Highlights
Requested $63 million increase, capped at $48 million
Electric rate base = $943 million
11.6% return on common equity
Equity ratio = 51%
Historical test year adjusted for known and measurable
Docket also includes fuel reconciliation for 2004-05
Expect rates to be in effect second quarter 2007
16
17. ®
Minnesota Gas Rate Case Highlights
Requested $18.5 million increase
Gas rate base = $440 million
11% return on common equity
Equity ratio = 52%
Partial decoupling
Forward test year
Interim rates of $15.9 million went into effect
January 8, 2007
17
18. ®
Colorado Gas Rate Case Highlights
Requested $41.5 million increase
Gas rate base = $1.1 Billion
11% return on common equity
Equity ratio = 60%
Partial decoupling
Historical test year adjusted for known
and measurable
18
19. ®
Other Rate Case Highlights
Wisconsin Gas and Electric Rate Cases
Expected to be filed in June
Rates in effect in early 2008
North Dakota Gas Rate Case
Requested $2.8 million rate increase
Decision expected in the summer of 2007
19
20. ®
2007 Earnings Guidance Range
Dollars per share
2007
Regulated Utility $1.39 – $1.49
Holding Company
and Other (0.15)
COLI – Tax Benefit 0.11
Continuing Operations $1.35 – $1.45
20
21. ®
Sustainable Growth
Collaborative process that balances various interests
and delivers value to customers and investors
Constructive rate case outcomes
Forward recovery on significant incremental
investments
Pipeline of investments beyond 2010
Attractive Total Return
Sustainable 5% – 7% earnings per share growth
Dividend yield 4%
Dividend growth of 2% – 4% per year
21
23. ®
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
24. ®
Xcel Energy Supply Sources
2005 2005 Owned
Energy Supply Mix* Generating Facilities
Gas & Oil Unit Type Number MW
Nuclear
38% 10%
Coal 36 8,138
Renewables Natural Gas 61 4,918
7%
Nuclear 3 1,617
Hydro 83 508
Oil 24 492
RDF 6 96
Wind - 25
Coal **
45% Total 15,794
* Includes purchases
** Low-sulfur western coal
24
26. ®
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
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
26
27. ®
Minnesota Cost Recovery Mechanisms
Projected electric fuel and purchased energy costs billed for
the current month with subsequent true-up; MISO energy and
ancillary services being recovered through FCA.
Projected purchased gas cost billed for the current month
with subsequent 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
27
28. ®
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
28
29. ®
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
29
30. ®
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 FCA
30
31. ®
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
31