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 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 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 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.
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 summarizes information from a presentation given by Xcel Energy to Canadian investors in May 2007. It outlines Xcel Energy's strategy of focusing on fully regulated utility operations, highlights its leadership in renewable energy and environmental initiatives, and projects sustainable earnings growth of 5-7% through continued capital investment. Regulatory mechanisms allow for recovery of major capital expenditures and fuel costs.
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 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 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 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 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.
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 summarizes information from a presentation given by Xcel Energy to Canadian investors in May 2007. It outlines Xcel Energy's strategy of focusing on fully regulated utility operations, highlights its leadership in renewable energy and environmental initiatives, and projects sustainable earnings growth of 5-7% through continued capital investment. Regulatory mechanisms allow for recovery of major capital expenditures and fuel costs.
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 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.
- This document is Northern States Power Company's (NSP-Minnesota) quarterly report filed with the SEC for the quarter ended June 30, 2006.
- It provides NSP-Minnesota's consolidated financial statements and notes to the financial statements for the periods ended June 30, 2006 and December 31, 2005.
- The financial statements show NSP-Minnesota's operating revenues, expenses, income, cash flows, assets, liabilities, and equity for the periods. Notes to the financial statements provide additional details on NSP-Minnesota's significant accounting policies and other financial information.
This document is a quarterly report filed with the SEC by Northern States Power Company and its subsidiaries. It provides financial statements and other information for the quarter ended June 30, 2001. Specifically, it includes consolidated statements of income and cash flows showing revenues, expenses, net income, and cash flows from operating, investing, and financing activities. It also provides an overview of the companies involved and certifies that required reports have been filed with the SEC within the past 12 months.
The document summarizes Dick Kelly's presentation at a Bank of America Investment Conference on September 19, 2006 about Xcel Energy's strategy and financial performance. Key points include:
1) Xcel Energy is targeting investments of $13 billion by 2009 to meet increasing customer needs through reliable and environmentally responsible supply, transmission projects, and new generation.
2) Rate cases in 2006 are expected to increase returns toward the target 11% range. Additional rate cases are planned for 2007.
3) EPS growth of 5-7% annually is targeted through 2019 through regulated investments, cost recovery mechanisms, and improving returns in rate cases.
This document is a Form 10-Q quarterly report filed by Northern States Power Company (NSP-Minnesota) with the Securities and Exchange Commission (SEC). It summarizes NSP-Minnesota's financial performance for the third quarter and first nine months of 2003, including operating revenues, expenses, income from operations, other income and expenses, interest charges, income taxes and net income. It also lists members of NSP-Minnesota's board of directors and provides additional notes to the financial statements.
This document is an SEC Form 10-Q quarterly report filed by Xcel Energy Inc. for the quarter ended March 31, 2002. It includes consolidated financial statements such as statements of income, balance sheets, and cash flow statements. The statements of income show operating revenues of $3.3 billion for Q1 2002 compared to $4.2 billion for Q1 2001. Total operating expenses were $3 billion for Q1 2002 versus $3.7 billion for Q1 2001. This resulted in net income of $103.5 million for Q1 2002 compared to $209.3 million for Q1 2001.
WPS Resources Corporation is a holding company based in Green Bay, Wisconsin that owns three subsidiary companies providing both regulated and nonregulated energy products and services. The subsidiaries are Wisconsin Public Service Corporation, a regulated electric and gas utility; WPS Energy Services, Inc., which targets retail energy sales and related nonregulated services; and WPS Power Development, Inc., which develops and owns nonregulated electric generation projects. In 1997, WPS Resources focused on strategic growth through its subsidiaries' expansion in both regulated and nonregulated energy markets in the Midwest.
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.
CapX 2020 is a collaborative of eight Midwest utilities working to expand the regional transmission grid to meet increasing electricity demand. By 2020, they forecast a need for 8,000 MW of new generation to serve 6,300 MW of load growth. Their plan involves $3 billion in transmission projects grouped into three phases from 2011-2020. Phase 1 projects include new 345 kV lines from the Twin Cities to Rochester, Bemidji, Fargo, and Brookings. The utilities have obtained legislative support in Minnesota and South Dakota for improved cost recovery, and have developed a robust implementation plan to obtain approvals and complete the projects.
This document is Northern States Power Company's (NSP-Minnesota) quarterly report filed with the SEC for the quarter ended September 30, 2008. It summarizes NSP-Minnesota's financial results including operating revenues of $1.1 billion, operating expenses of $884.8 million, net income of $110.3 million. Additionally, it discloses that NSP-Minnesota has 1,000,000 shares of common stock outstanding and meets the conditions to file a reduced disclosure Form 10-Q.
Wisconsin Public Service Corporation is a regulated electric and natural gas utility that serves over 740,000 customers in northeast and central Wisconsin and the Upper Peninsula of Michigan. The company has over 2,300 employees who work to provide energy products and services through local offices. Wisconsin Public Service is committed to supporting the communities it serves through charitable donations, employee volunteerism, and involvement in local organizations and events.
This document is an SEC filing by Xcel Energy Inc. for the quarterly period ending June 30, 2001. It includes Xcel Energy's consolidated statement of income for the three and six month periods ended June 30, 2001 and 2000. The filing shows that Xcel Energy reported operating income of $436.9 million and net income of $167.9 million for the quarter. For the six month period, Xcel Energy reported operating income of $930.2 million and net income of $377.2 million. The document provides detailed financial information on Xcel Energy's revenues, expenses, taxes and earnings for the periods in a standardized SEC filing format.
The document summarizes the Allen S. King Rehabilitation Project. It provides an overview of the Metro Emissions Reduction Project and details of the King Plant Rehabilitation. Key activities include installing new pollution control equipment, rebuilding the boiler and replacing the steam turbine. The capital cost is estimated at $382 million and emissions of NOx, SO2, PM and HG will be reduced by 89%, 91%, 20% and 20% respectively. The status and schedule are outlined, with return to service planned for May 2007. Challenges include construction labor availability in fall 2006 and commodity price increases.
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 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 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.
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.
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 information from a presentation given by Xcel Energy to Canadian investors. It outlines Xcel Energy's strategy of focusing on fully regulated utility operations, highlights their leadership in renewable energy and environmental initiatives, and provides projections showing expected sustainable earnings growth through 2020 driven by continued capital investments. Regulatory mechanisms across their jurisdictions allow for recovery of fuel and purchased power costs as well as major capital investments.
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 is Northern States Power Company's (NSP-Minnesota) quarterly report filed with the SEC for the quarter ended June 30, 2006.
- It provides NSP-Minnesota's consolidated financial statements and notes to the financial statements for the periods ended June 30, 2006 and December 31, 2005.
- The financial statements show NSP-Minnesota's operating revenues, expenses, income, cash flows, assets, liabilities, and equity for the periods. Notes to the financial statements provide additional details on NSP-Minnesota's significant accounting policies and other financial information.
This document is a quarterly report filed with the SEC by Northern States Power Company and its subsidiaries. It provides financial statements and other information for the quarter ended June 30, 2001. Specifically, it includes consolidated statements of income and cash flows showing revenues, expenses, net income, and cash flows from operating, investing, and financing activities. It also provides an overview of the companies involved and certifies that required reports have been filed with the SEC within the past 12 months.
The document summarizes Dick Kelly's presentation at a Bank of America Investment Conference on September 19, 2006 about Xcel Energy's strategy and financial performance. Key points include:
1) Xcel Energy is targeting investments of $13 billion by 2009 to meet increasing customer needs through reliable and environmentally responsible supply, transmission projects, and new generation.
2) Rate cases in 2006 are expected to increase returns toward the target 11% range. Additional rate cases are planned for 2007.
3) EPS growth of 5-7% annually is targeted through 2019 through regulated investments, cost recovery mechanisms, and improving returns in rate cases.
This document is a Form 10-Q quarterly report filed by Northern States Power Company (NSP-Minnesota) with the Securities and Exchange Commission (SEC). It summarizes NSP-Minnesota's financial performance for the third quarter and first nine months of 2003, including operating revenues, expenses, income from operations, other income and expenses, interest charges, income taxes and net income. It also lists members of NSP-Minnesota's board of directors and provides additional notes to the financial statements.
This document is an SEC Form 10-Q quarterly report filed by Xcel Energy Inc. for the quarter ended March 31, 2002. It includes consolidated financial statements such as statements of income, balance sheets, and cash flow statements. The statements of income show operating revenues of $3.3 billion for Q1 2002 compared to $4.2 billion for Q1 2001. Total operating expenses were $3 billion for Q1 2002 versus $3.7 billion for Q1 2001. This resulted in net income of $103.5 million for Q1 2002 compared to $209.3 million for Q1 2001.
WPS Resources Corporation is a holding company based in Green Bay, Wisconsin that owns three subsidiary companies providing both regulated and nonregulated energy products and services. The subsidiaries are Wisconsin Public Service Corporation, a regulated electric and gas utility; WPS Energy Services, Inc., which targets retail energy sales and related nonregulated services; and WPS Power Development, Inc., which develops and owns nonregulated electric generation projects. In 1997, WPS Resources focused on strategic growth through its subsidiaries' expansion in both regulated and nonregulated energy markets in the Midwest.
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.
CapX 2020 is a collaborative of eight Midwest utilities working to expand the regional transmission grid to meet increasing electricity demand. By 2020, they forecast a need for 8,000 MW of new generation to serve 6,300 MW of load growth. Their plan involves $3 billion in transmission projects grouped into three phases from 2011-2020. Phase 1 projects include new 345 kV lines from the Twin Cities to Rochester, Bemidji, Fargo, and Brookings. The utilities have obtained legislative support in Minnesota and South Dakota for improved cost recovery, and have developed a robust implementation plan to obtain approvals and complete the projects.
This document is Northern States Power Company's (NSP-Minnesota) quarterly report filed with the SEC for the quarter ended September 30, 2008. It summarizes NSP-Minnesota's financial results including operating revenues of $1.1 billion, operating expenses of $884.8 million, net income of $110.3 million. Additionally, it discloses that NSP-Minnesota has 1,000,000 shares of common stock outstanding and meets the conditions to file a reduced disclosure Form 10-Q.
Wisconsin Public Service Corporation is a regulated electric and natural gas utility that serves over 740,000 customers in northeast and central Wisconsin and the Upper Peninsula of Michigan. The company has over 2,300 employees who work to provide energy products and services through local offices. Wisconsin Public Service is committed to supporting the communities it serves through charitable donations, employee volunteerism, and involvement in local organizations and events.
This document is an SEC filing by Xcel Energy Inc. for the quarterly period ending June 30, 2001. It includes Xcel Energy's consolidated statement of income for the three and six month periods ended June 30, 2001 and 2000. The filing shows that Xcel Energy reported operating income of $436.9 million and net income of $167.9 million for the quarter. For the six month period, Xcel Energy reported operating income of $930.2 million and net income of $377.2 million. The document provides detailed financial information on Xcel Energy's revenues, expenses, taxes and earnings for the periods in a standardized SEC filing format.
The document summarizes the Allen S. King Rehabilitation Project. It provides an overview of the Metro Emissions Reduction Project and details of the King Plant Rehabilitation. Key activities include installing new pollution control equipment, rebuilding the boiler and replacing the steam turbine. The capital cost is estimated at $382 million and emissions of NOx, SO2, PM and HG will be reduced by 89%, 91%, 20% and 20% respectively. The status and schedule are outlined, with return to service planned for May 2007. Challenges include construction labor availability in fall 2006 and commodity price increases.
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 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 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.
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.
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 information from a presentation given by Xcel Energy to Canadian investors. It outlines Xcel Energy's strategy of focusing on fully regulated utility operations, highlights their leadership in renewable energy and environmental initiatives, and provides projections showing expected sustainable earnings growth through 2020 driven by continued capital investments. Regulatory mechanisms across their jurisdictions allow for recovery of fuel and purchased power costs as well as major capital investments.
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 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 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.
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.
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.
George Tyson, Vice President and Treasurer of Xcel Energy, presented at a West Coast seminar on February 15, 2007. He outlined Xcel Energy's strategy of investing in regulated utility operations to meet customer needs, provide environmental leadership, and earn a reasonable return. Significant planned capital investments include projects to upgrade power plants, expand renewable energy and transmission infrastructure, and potentially build an IGCC plant with carbon sequestration. Tyson projected 2007 earnings per share of $1.35 to $1.45.
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.
This document summarizes a presentation given by Xcel Energy at a Bank of America conference on sustainable growth. The key points are:
1) Xcel Energy expects sustainable EPS growth of 5-7% annually and annual dividend growth of 2-4% through investments in fully regulated utility operations and meeting environmental standards.
2) It has a large capital investment plan to invest in renewable energy, transmission infrastructure, and environmental projects through at least 2011.
3) Xcel Energy is a leader in wind and solar energy and is well-positioned to benefit from renewable portfolio standards passed in its key states in 2007.
This document summarizes a presentation given by Xcel Energy at a Bank of America conference on sustainable growth. It outlines Xcel Energy's strategy of investing in regulated utility operations to meet customer needs and provide environmental leadership. This is expected to drive sustainable earnings per share growth of 5-7% and dividend growth of 2-4% annually. Xcel Energy has significant planned capital investments in areas like wind generation, transmission infrastructure and environmental projects.
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.
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.
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.
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XEL_0806
1. ®
Building the Core
Executing the Strategy
Midwest Investor Meetings
August 9 – 10, 2006 Xcel Energy Inc.
414 Nicollet Mall
Minneapolis, Minnesota 55401
www.xcelenergy.com
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. Northern States
Power Company- Northern
Minnesota States Power
44% Net Income Company-
Wisconsin
5% Net Income
Public Service
Company of
Colorado
5th Largest Combination
39% Net Income
Electric and Gas Utility
(based on customers)
Southwestern
Public Service
12% Net Income
Gas Customers 1.8 million
2005 Earnings Available: $509 Million Electric Customers 3.3 million
4. Strategy: Building the Core
Invest in fully regulated utility assets
AND
Increase our earned return on equity
Regulatory and Legislative Policy
Investing in the Core
Regulatory Recovery
Financial Results
5. Attractive Total Return with
Low-Risk Strategy
EPS growth rate objective 5 – 7% per year*
2005 – 2009
Annual dividend growth objective 2 – 4% per year
Dividend yield 4.5%
* Excluding any impact from Corporate Owned Life Insurance
6. Getting the Rules Right
Achieved
Minnesota transmission legislation for renewables
2001
MERP legislation 2001
Comanche 3 regulatory framework 2004
Transmission investment recovery legislation
— Minnesota 2005
— Texas 2005
— South Dakota 2006
Rider recovery of environmental investments
including Minnesota 90% mercury reduction target
7. Getting the Rules Right
In Process
Rider recovery of Colorado capacity costs – proposed
Flow through recovery of SPS Texas capacity
costs – rule making proceeding
Reduce exposure to trading and marketing margin
volatility – Minnesota electric case
Future Initiatives
Forward test year in all jurisdictions
8. Building the Core — Transmission
CapX 2020: Collaborative Effort
Three project groups to:
Maintain/improve reliability
Support new generation North Dakota
Minnesota
Reduce constraints
Wisconsin
Group I
Defined with Further Study,
South Dakota
Dependent on Future Need:
Group II
Iowa
Group III
9. CapX 2020 — 3 Project Groups
Group I — In-service 2011 – 2012 Total Cost
S.E. Twin Cities-Rochester-LaCrosse WI / 345kV $1.3 Billion
Bemidji-Grand Rapids / 230 kV
Fargo-St. Cloud/Monticello area / 345 kV Xcel Share
Brookings, S.D. - SE Twin Cities / 345 kV $700 Million
Group II — In-service 2014 – 2020
New 345 kV transmission loop around the Twin Cities
Group III — In-service 2012 – 2020
As needed and generation projects developed
Preliminary Estimated Total > $3 Billion
10. Xcel Energy Investment Pipeline
2006 2007 2008 2009 2010 2011 2012 2020
Approx. $1 Billion per Year
Core CapEx
MERP $1 Billion Total
$1 Billion Total
Comanche 3
CapX 2020:
Group 1 $700 Million Total
Group 2
Group 3
11. Evaluation of Investments
Significant investment opportunities beyond forecast
Allocation of capital based on:
— Customer need
— Supportive regulatory treatment
— Risk-adjusted return
Incremental investment driven by economic signals
Increased customer and shareholder value
12. Increasing Our Earned Return on Equity
Rate Cases with 2006 Impacts
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
13. Minnesota Electric Rate Case Highlights
Requested $156 million increase
Interim rates effective January 2006,
subject to refund
Electric rate base = $3.2 billion
11% return on common equity
Equity ratio = 52%
Forecast test year
14. Minnesota Electric Rate Case
ALJ Recommendation
$135 million increase 2006 –
reduced to $119 million increase 2007
10.65% return on common equity
Commission deliberation August 2006
Written order September 2006
15. Colorado Electric Rate Case Highlights
Requested $210 million increase
Electric rate base = $3.4 billion
11% return on common equity
Equity ratio = 60%
Historical test year with adjustments for known
and measurable
Final decision expected late 2006
Rates expected to be in effect early 2007
16. Colorado Electric Rate Schedule
Intervenor testimony — August 18
Rebuttle testimony — September 29
Hearings — October 23 through November 9
Statement of positions — November 20
Deliberations — December 1
Initial decision — December 18
17. Texas Electric Rate Case Highlights
Requested $48 million increase
Electric rate base = $943 million
11.6% return on common equity
Equity ratio = 51%
Historical test year with adjustments for known
and measurable
Rates expected to be in effect 1st Quarter 2007
18. Potential Additional Rate Cases
with 2007 Impact
Colorado Gas File 2006
Minnesota Gas File 2006
North Dakota Electric Potential
New Mexico Electric Potential
South Dakota Electric Potential
19. Earnings Guidance Range
Dollars per share
2006
Regulated utility $1.25 – $1.35
Holding company
and other (0.10)
COLI – tax benefit 0.10
Continuing operations $1.25 – $1.35
20. Financial Performance Objectives
EPS growth rate 2005 – 2009
— Target 5 – 7% per year*
Annual dividend increases of 2 – 4% per year
Deliver an attractive total return with low risk
Credit rating
— Senior unsecured debt BBB+ to A range
* Excluding any impact from COLI
23. 2005 Average Retail
Electric Rate Comparison
Cents per KWh
20
16
12
7.34
8 6.80
5.97
4
0
i n
r
s l e
y o
uis Cit rillo ine City Pau nve uke cag enix iam n DC sto York
o
. L ake Ama s Mo sas /St. o M to Bo w
i
De ilwa Ch Ph
tL
ing Ne
St e an pls M
l h
DK
Sa as
M
W
24. Xcel Energy Supply Sources
2005 2005 Owned
Energy Supply Mix* Generating Facilities
Unit Type Number MW
Gas & Oil Nuclear
38% 10% Coal 36 8,138
Natural Gas 61 4,918
Renewables
7% Nuclear 3 1,617
Hydro 83 508
Oil 24 492
RDF 6 96
25 *
Wind -
Coal **
Total 15,794
45%
* Xcel Energy supplies in
* Includes purchases excess of 1100 MWs of
** Low-sulfur western coal wind power
25. Nuclear Relicensing Status
Monticello
Minnesota PUC, legislative and NRC approvals
expected 2006 – 2007
Life Cycle modifications to be installed 2008 – 2012,
projected capital cost of $150 – 200 million
Prairie Island
Begin license application to the NRC and
Minnesota Legislature in 2008
Life Cycle modifications under evaluation
Approvals expected 2010 – 2011
27. Capital Expenditures 2006 — 2009
Electric Transmission
14% Gas
9%
Common
Electric Distribution
9%
24%
Nuclear Fuel
Generation
4%
40%
28. Minnesota Metro Emissions
Reduction Program (MERP) $1 Billion
Convert two in-city coal plants to natural gas & refurbish
a third in-city coal plant
Improves environment
SO2 NOx Mercury Particulate CO2
93% 91% 78% 55% 21%
Cash return on investment
began January 2006
Target ROE 10.86% with
incentive sliding scale
9.97 to 11.46%
Equity ratio 48.5%
29. Comanche 3 — 750 MW Coal Station
18 Months – application to
construction
Major contracts signed for
turbine generator, boiler and
air quality control system –
within budget
Began construction in
October 2005. Major
contractors start May 2006
Construction completed fall
2009
New unit $1.1 B
Transmission $150 M
Artist Rendering Retrofit 1 & 2 $127 M
30. Minnesota Cost Recovery Mechanisms
Projected electric fuel and purchased energy costs billed for the
current month with subsequent true-up; MISO costs recovered
through FCA on interim basis, with final recovery mechanism
being developed by stakeholders
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
Emission Reduction Program, Renewable Development Fund,
and State Energy Policy rider in place,
Renewable Transmission rider in place; General Transmission
rider authorized by law
Mercury Reduction and Environmental Improvement rider
authorized by law
31. Minnesota Electric Case —
Partial Settlement of Trading Margin
No credit to base rates for wholesale electric
margins
Margins to be flowed through fuel clause include:
— 100% wholesale electric margins from excess
generation capacity
— 80% of wholesale margins from ancillary
services sales
— 25% of margins not arising from use of
NSP-Minnesota generating assets
NSP-Minnesota
32. Colorado Cost Recovery Mechanisms
Energy Cost Adjustment recovers electric fuel and purchased
energy costs for retail load with a maximum gain or loss of
$11.25 million
Monthly Gas Cost Adjustment recovers the cost of the natural
gas commodity, interstate pipeline and storage costs on a dollar-
for-dollar basis
Purchased Capacity Adjustment recovers the demand
component of purchased power contracts (through 2006)
Fuel Cost Adjustment recovers 100% of electric fuel and
purchased energy costs for wholesale customers
Demand-side Management Cost Adjustment rider (gas and
electric) Air Quality Improvement rider (to recover cost of
emissions controls on several Denver metro generation facilities)
33. Colorado Electric Rate Case Details
Dollars in millions
Under earning: 8.5% ROE vs 10.75% $ 64
Increase ROE to 11% and higher
equity ratio 17
Comanche 3 24
Depreciation 33
Wholesale contract expiration 14
Employee related costs 6
Other 20
$178
PCCA impact & amendment 37 rider 32
Total requested $210
34. 2005 Jurisdictional Returns
Return on Equity**
Rate Weather-
Weather-
Base* Actual Normalized
Colorado Electric $3,120 8.5%
Colorado Gas 1,084 7.00
Minnesota Electric 3,230 10.61 9.98%
Minnesota Gas 422 6.30 7.42
North Dakota Electric 176 12.46 12.65
North Dakota Gas 42 5.71 6.81
Wisconsin Electric 613
6.26***
Wisconsin Gas 83
* Dollars in millions
** Reflects regulatory reporting requirements
*** Electric and Gas
35. Earnings Growth Drivers
Annual
2009 Growth
2005* Potential Rate
Rate Base $10.9 B $13 B 4.5%
Regulatory Equity
Capitalization 52% 52 – 54% 0 to 1%
Earned Return on
Utility Rate Base Equity 9.5% 10.5 to 11% 2.5 to 3.5%
* Estimated regulatory results
36. Corporate Owned Life Insurance
Litigation (COLI)
The court’s opinion in the Dow case outlined three indicators
of potential economic benefits to be examined in a COLI case.
Positive pre-deduction cash flows
pre-deduction
Mortality gains
The buildup of cash values
In Xcel Energy’s COLI case, the plans:
Were projected to have sizeable pre-deduction cash flows,
based upon the relevant assumptions when purchased
Presented the opportunity for mortality gains that were not
eliminated either retroactively or prospectively
Had large cash value increases that were not encumbered
by loans during the first seven years of the policies