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.
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.
xcel energy 4_10MinneapolisInvestorMtgSECApril2007finance26
This document summarizes a presentation given by Xcel Energy to investors. It outlines Xcel's strategy of investing in regulated utility infrastructure to drive sustainable earnings growth of 5-7% annually. It highlights Xcel's leadership in renewable energy and environmental initiatives. The presentation also reviews Xcel's constructive regulatory relationships and mechanisms to recover costs and earn fair returns on investments.
Xcel Energy 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 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.
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.
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.
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 Dick Kelly's presentation at the Global Power & Gas Leaders Conference on September 26-27, 2006. Kelly outlines Xcel Energy's strategy to build its core business through targeted investments to meet increasing customer needs, focusing on diverse and reliable energy supply, environmental responsibility, and fair pricing. The strategy aims to deliver attractive total returns through 5-7% annual EPS growth and 2-4% annual dividend increases. Kelly also reviews various investment and regulatory initiatives underway across Xcel Energy's service territories to support this strategy and earnings growth.
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.
xcel energy 4_10MinneapolisInvestorMtgSECApril2007finance26
This document summarizes a presentation given by Xcel Energy to investors. It outlines Xcel's strategy of investing in regulated utility infrastructure to drive sustainable earnings growth of 5-7% annually. It highlights Xcel's leadership in renewable energy and environmental initiatives. The presentation also reviews Xcel's constructive regulatory relationships and mechanisms to recover costs and earn fair returns on investments.
Xcel Energy 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 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.
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.
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.
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 Dick Kelly's presentation at the Global Power & Gas Leaders Conference on September 26-27, 2006. Kelly outlines Xcel Energy's strategy to build its core business through targeted investments to meet increasing customer needs, focusing on diverse and reliable energy supply, environmental responsibility, and fair pricing. The strategy aims to deliver attractive total returns through 5-7% annual EPS growth and 2-4% annual dividend increases. Kelly also reviews various investment and regulatory initiatives underway across Xcel Energy's service territories to support this strategy and earnings growth.
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 is Xcel Energy Inc.'s annual report on Form 10-K for the fiscal year ending December 31, 2007 filed with the Securities and Exchange Commission. It provides an overview of Xcel Energy's electric and natural gas utility operations across four states, key business trends, environmental matters, capital spending, employees and legal proceedings. Financial and operating statistics are also presented for each of Xcel Energy's utility subsidiaries.
- The document is a Form 10-Q quarterly report filed by Public Service Company of Colorado (PSCo) with the SEC for the quarter ended September 30, 2006.
- It includes unaudited consolidated financial statements for the third quarter and year-to-date, including statements of income, cash flows, and balance sheets.
- Notes to the financial statements provide additional details on significant accounting policies, regulatory matters, income taxes, derivatives and fair value measurements, pension and benefit plans, and commitments and contingencies.
Unum Group reported financial results for the third quarter of 2008. While net income was $108.0 million, this included realized investment losses of $108.9 million. Excluding these losses, after-tax income was $216.9 million. The group disability benefit ratio continued trending downward. Across segments, Unum US saw increases in operating income for disability and voluntary lines, while UK saw a decrease in operating income of 4.9% compared to the prior year. Overall the company demonstrated continued strong performance across core segments and a strong capital position is being maintained despite challenges in the current economic environment.
This document provides an overview of Xcel Energy's strategy and financial results. It discusses Xcel's focus on investing in regulated utility assets to earn stable returns. Key points include rate cases that increased allowed returns, upcoming generation projects, and earnings guidance of $1.25-1.35 per share for 2006. It also summarizes Xcel's operating jurisdictions, generation sources, and ongoing litigation over company-owned life insurance policies.
xcel energy 4_10MinneapolisInvestorMtgSECApril2007finance26
This document summarizes a presentation given by Xcel Energy to investors. It outlines Xcel's strategy of investing in regulated utility infrastructure to drive sustainable earnings growth of 5-7% annually. It highlights Xcel's leadership in renewable energy and environmental initiatives. The presentation also reviews Xcel's constructive regulatory relationships and mechanisms to recover costs and earn fair returns on investments.
Xcel Energy 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 9_4LehmanConfPresentation952007SECfinance26
This document summarizes a presentation given by Ben Fowke, Vice President and CFO of Xcel Energy, at a Lehman Brothers conference on September 5, 2007. Fowke outlines Xcel Energy's value proposition as a low-risk regulated utility with a constructive regulatory environment and opportunities for investment and growth. He highlights recent accomplishments and construction projects on budget and on schedule. Fowke projects continued investment opportunities, earnings per share growth of 5-7% annually, and dividend growth of 2-4% per year through 2011 while maintaining a dividend yield of approximately 4.5%.
xcel energy 12_6XcelUtilityWeekSECwAppendix12062006finance26
This document provides a summary of Xcel Energy's strategy to build a sustainable core business through 2022. It discusses plans to meet customer needs through competitive pricing and reliability, demonstrate environmental leadership in renewables and emissions reductions, and work with regulators and legislators to establish constructive policies. Key initiatives include the Colorado Emission Reduction Program, Comanche Unit 3, and CapX2020 transmission projects. Financial forecasts illustrate funding growth through operations, debt, and a dividend reinvestment plan while maintaining investment grade credit ratings.
This document summarizes Xcel Energy's strategy to implement capital investments and increase returns. It outlines a $5.7 billion capital expenditure plan from 2006-2009 focused on rate base assets. This includes investments in coal plant refurbishments and a new coal plant. It discusses regulatory filings and rate cases to increase returns, including a pending Minnesota rate case. The strategy aims to deliver attractive total returns through dividend growth and EPS growth of 5-7% annually while maintaining investment grade credit ratings.
This document discusses Xcel Energy's strategy to invest in regulated utility assets to increase its earned return on equity and provide attractive total returns to shareholders. It outlines Xcel's capital expenditure plans through 2020 totaling around $1 billion per year focused on transmission infrastructure, as well as upcoming electric rate cases. The strategy aims to deliver earnings per share growth of 5-7% annually through 2009.
This document 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 summarizes the Metro Emissions Reduction Project to rehabilitate the Allen S. King power plant located in Minnesota. It provides an overview of the project schedule, status update with progress photos, and key activities. The project will install new pollution control equipment to reduce emissions of nitrogen oxides, sulfur dioxide, particulate matter, and mercury by over 90% and bring the plant into service by May 2007 at an estimated cost of $382 million.
This document provides an overview and summary of Xcel Energy's strategy to deliver sustainable growth through 2020. It discusses Xcel's goals of meeting customer needs, showing environmental leadership, and working to shape public policy. Key initiatives include renewable energy investments, emissions reductions, and new technologies like IGCC with carbon sequestration. Recent rate cases have allowed recovery of costs for projects like Comanche Unit 3 and emissions reductions. Planned investments are expected to drive 5-7% annual EPS growth through 2020 while maintaining the dividend.
1) Xcel Energy held its 2006 annual shareholders meeting on May 17, 2006. The meeting addressed the election of directors, ratification of auditors, and a proposal to separate the roles of chairman and CEO.
2) Xcel Energy reported 2005 earnings of $499 million and first quarter 2006 earnings of $150 million. The company projected 2006 earnings between $1.25-$1.35 per share.
3) Xcel Energy outlined plans to invest $5 billion over 4 years to improve infrastructure and the environment, including emission reduction projects, transmission upgrades, and renewable energy investments. This would help earn the company's authorized rate of return.
4) Xcel Energy highlighted its commitment to environmental compliance, voluntary
This document is a Form 10-Q quarterly report filed by Northern States Power Company (NSP-Wisconsin) with the Securities and Exchange Commission for the quarterly period ended March 31, 2008. It includes NSP-Wisconsin's consolidated financial statements and notes. The financial statements show that for the quarter ended March 31, 2008, NSP-Wisconsin had operating revenues of $244 million, operating income of $26 million, and net income of $13 million. As of March 31, 2008, NSP-Wisconsin had total assets of $1.3 billion and common stockholder's equity of $474 million.
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 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 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.
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 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.
This document is Xcel Energy Inc.'s annual report on Form 10-K for the fiscal year ending December 31, 2007 filed with the Securities and Exchange Commission. It provides an overview of Xcel Energy's electric and natural gas utility operations across four states, key business trends, environmental matters, capital spending, employees and legal proceedings. Financial and operating statistics are also presented for each of Xcel Energy's utility subsidiaries.
- The document is a Form 10-Q quarterly report filed by Public Service Company of Colorado (PSCo) with the SEC for the quarter ended September 30, 2006.
- It includes unaudited consolidated financial statements for the third quarter and year-to-date, including statements of income, cash flows, and balance sheets.
- Notes to the financial statements provide additional details on significant accounting policies, regulatory matters, income taxes, derivatives and fair value measurements, pension and benefit plans, and commitments and contingencies.
Unum Group reported financial results for the third quarter of 2008. While net income was $108.0 million, this included realized investment losses of $108.9 million. Excluding these losses, after-tax income was $216.9 million. The group disability benefit ratio continued trending downward. Across segments, Unum US saw increases in operating income for disability and voluntary lines, while UK saw a decrease in operating income of 4.9% compared to the prior year. Overall the company demonstrated continued strong performance across core segments and a strong capital position is being maintained despite challenges in the current economic environment.
This document provides an overview of Xcel Energy's strategy and financial results. It discusses Xcel's focus on investing in regulated utility assets to earn stable returns. Key points include rate cases that increased allowed returns, upcoming generation projects, and earnings guidance of $1.25-1.35 per share for 2006. It also summarizes Xcel's operating jurisdictions, generation sources, and ongoing litigation over company-owned life insurance policies.
xcel energy 4_10MinneapolisInvestorMtgSECApril2007finance26
This document summarizes a presentation given by Xcel Energy to investors. It outlines Xcel's strategy of investing in regulated utility infrastructure to drive sustainable earnings growth of 5-7% annually. It highlights Xcel's leadership in renewable energy and environmental initiatives. The presentation also reviews Xcel's constructive regulatory relationships and mechanisms to recover costs and earn fair returns on investments.
Xcel Energy 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 9_4LehmanConfPresentation952007SECfinance26
This document summarizes a presentation given by Ben Fowke, Vice President and CFO of Xcel Energy, at a Lehman Brothers conference on September 5, 2007. Fowke outlines Xcel Energy's value proposition as a low-risk regulated utility with a constructive regulatory environment and opportunities for investment and growth. He highlights recent accomplishments and construction projects on budget and on schedule. Fowke projects continued investment opportunities, earnings per share growth of 5-7% annually, and dividend growth of 2-4% per year through 2011 while maintaining a dividend yield of approximately 4.5%.
xcel energy 12_6XcelUtilityWeekSECwAppendix12062006finance26
This document provides a summary of Xcel Energy's strategy to build a sustainable core business through 2022. It discusses plans to meet customer needs through competitive pricing and reliability, demonstrate environmental leadership in renewables and emissions reductions, and work with regulators and legislators to establish constructive policies. Key initiatives include the Colorado Emission Reduction Program, Comanche Unit 3, and CapX2020 transmission projects. Financial forecasts illustrate funding growth through operations, debt, and a dividend reinvestment plan while maintaining investment grade credit ratings.
This document summarizes Xcel Energy's strategy to implement capital investments and increase returns. It outlines a $5.7 billion capital expenditure plan from 2006-2009 focused on rate base assets. This includes investments in coal plant refurbishments and a new coal plant. It discusses regulatory filings and rate cases to increase returns, including a pending Minnesota rate case. The strategy aims to deliver attractive total returns through dividend growth and EPS growth of 5-7% annually while maintaining investment grade credit ratings.
This document discusses Xcel Energy's strategy to invest in regulated utility assets to increase its earned return on equity and provide attractive total returns to shareholders. It outlines Xcel's capital expenditure plans through 2020 totaling around $1 billion per year focused on transmission infrastructure, as well as upcoming electric rate cases. The strategy aims to deliver earnings per share growth of 5-7% annually through 2009.
This document 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 summarizes the Metro Emissions Reduction Project to rehabilitate the Allen S. King power plant located in Minnesota. It provides an overview of the project schedule, status update with progress photos, and key activities. The project will install new pollution control equipment to reduce emissions of nitrogen oxides, sulfur dioxide, particulate matter, and mercury by over 90% and bring the plant into service by May 2007 at an estimated cost of $382 million.
This document provides an overview and summary of Xcel Energy's strategy to deliver sustainable growth through 2020. It discusses Xcel's goals of meeting customer needs, showing environmental leadership, and working to shape public policy. Key initiatives include renewable energy investments, emissions reductions, and new technologies like IGCC with carbon sequestration. Recent rate cases have allowed recovery of costs for projects like Comanche Unit 3 and emissions reductions. Planned investments are expected to drive 5-7% annual EPS growth through 2020 while maintaining the dividend.
1) Xcel Energy held its 2006 annual shareholders meeting on May 17, 2006. The meeting addressed the election of directors, ratification of auditors, and a proposal to separate the roles of chairman and CEO.
2) Xcel Energy reported 2005 earnings of $499 million and first quarter 2006 earnings of $150 million. The company projected 2006 earnings between $1.25-$1.35 per share.
3) Xcel Energy outlined plans to invest $5 billion over 4 years to improve infrastructure and the environment, including emission reduction projects, transmission upgrades, and renewable energy investments. This would help earn the company's authorized rate of return.
4) Xcel Energy highlighted its commitment to environmental compliance, voluntary
This document is a Form 10-Q quarterly report filed by Northern States Power Company (NSP-Wisconsin) with the Securities and Exchange Commission for the quarterly period ended March 31, 2008. It includes NSP-Wisconsin's consolidated financial statements and notes. The financial statements show that for the quarter ended March 31, 2008, NSP-Wisconsin had operating revenues of $244 million, operating income of $26 million, and net income of $13 million. As of March 31, 2008, NSP-Wisconsin had total assets of $1.3 billion and common stockholder's equity of $474 million.
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 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 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.
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 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.
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.
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 Dick Kelly's presentation at the Global Power & Gas Leaders Conference on September 26-27, 2006. Kelly outlines Xcel Energy's strategy to build its core business through targeted investments to meet increasing customer needs, focusing on diverse and reliable energy supply, environmental responsibility, and fair pricing. The strategy aims to deliver attractive total returns through EPS growth of 5-7% annually and annual dividend increases of 2-4%. Key initiatives discussed include transmission expansion through CapX 2020, coal and gas plant investments, and regulatory filings to increase returns.
This document summarizes Dick Kelly's presentation at the Global Power & Gas Leaders Conference on September 26-27, 2006. Kelly outlines Xcel Energy's strategy to build its core business through targeted investments to meet increasing customer needs, focusing on diverse and reliable energy supply, environmental responsibility, and fair pricing. The strategy aims for earnings per share growth of 5-7% annually and annual dividend growth of 2-4% to provide attractive total returns for shareholders. Kelly also reviews various investment and regulatory projects underway across Xcel Energy's service territories to support this strategy and earnings growth.
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. The key points are:
1) Xcel Energy is focused on targeted investments to meet increasing customer needs through diverse and reliable energy supply, environmental responsibility, and fair pricing.
2) Notable investments and projects include Comanche Unit 3 coal plant, CapX2020 transmission expansion, and emissions reduction programs.
3) Financial objectives include 5-7% annual EPS growth and 2-4% annual dividend growth through rate cases and cost recovery mechanisms.
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.
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 is targeted at 5-7% annually through 2009, supported by rate base growth, higher returns, and cost management. Dividends will grow 2-4% annually.
4) Major projects
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 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.
This document summarizes Xcel Energy's strategy to achieve financial success through environmental leadership. Key points include:
1) Xcel Energy aims to reduce carbon emissions by 2020 while maintaining reasonable customer rates and ensuring appropriate regulatory treatment for investments.
2) The company's plans in Minnesota and Colorado aim to significantly reduce carbon emissions through increasing renewable energy and energy efficiency.
3) Xcel Energy forecasts strong capital investment and earnings growth through 2020 by investing in clean energy, transmission infrastructure, and environmental upgrades.
This document summarizes Xcel Energy's strategy to achieve financial success through environmental leadership. Key points include:
1) Xcel Energy aims to reduce carbon emissions by 2020 while maintaining reasonable customer rates and ensuring appropriate regulatory treatment for investments.
2) The company's plans in Minnesota and Colorado aim to significantly reduce carbon emissions through investments in renewables, energy efficiency, and natural gas generation to replace coal plants.
3) Xcel Energy forecasts strong capital investment and earnings growth through 2020 by successfully executing its carbon reduction and renewable energy strategies. This includes annual EPS growth of 5-7% and dividend growth of 2-4%.
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.
“Amidst Tempered Optimism” Main economic trends in May 2024 based on the results of the New Monthly Enterprises Survey, #NRES
On 12 June 2024 the Institute for Economic Research and Policy Consulting (IER) held an online event “Economic Trends from a Business Perspective (May 2024)”.
During the event, the results of the 25-th monthly survey of business executives “Ukrainian Business during the war”, which was conducted in May 2024, were presented.
The field stage of the 25-th wave lasted from May 20 to May 31, 2024. In May, 532 companies were surveyed.
The enterprise managers compared the work results in May 2024 with April, assessed the indicators at the time of the survey (May 2024), and gave forecasts for the next two, three, or six months, depending on the question. In certain issues (where indicated), the work results were compared with the pre-war period (before February 24, 2022).
✅ More survey results in the presentation.
✅ Video presentation: https://youtu.be/4ZvsSKd1MzE
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Madhya Pradesh, the "Heart of India," boasts a rich tapestry of culture and heritage, from ancient dynasties to modern developments. Explore its land records, historical landmarks, and vibrant traditions. From agricultural expanses to urban growth, Madhya Pradesh offers a unique blend of the ancient and modern.
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
What Lessons Can New Investors Learn from Newman Leech’s Success?Newman Leech
Newman Leech's success in the real estate industry is based on key lessons and principles, offering practical advice for new investors and serving as a blueprint for building a successful career.
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
KYC Compliance: A Cornerstone of Global Crypto Regulatory FrameworksAny kyc Account
This presentation explores the pivotal role of KYC compliance in shaping and enforcing global regulations within the dynamic landscape of cryptocurrencies. Dive into the intricate connection between KYC practices and the evolving legal frameworks governing the crypto industry.
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. Building the Core
Executing the Strategy
Ben Fowke
Vice President and CFO
September 5, 2006
4. Northern States
Power Company- Northern
Minnesota States Power
44% Net Income Company-
Wisconsin
5% Net Income
Public Service
Company of
Colorado
39% Net Income 5th Largest Combination
Electric and Gas Utility
(based on customers)
Southwestern
Public Service Traditional Regulation
12% Net Income
2005 EPS $1.20 continuing operations
2006 Dividend $0.89 annualized
5. Attractive Total Return
EPS growth rate objective 5 – 7% per year *
Annual dividend growth objective 2 – 4% per year
Dividend yield ~ 4.3%
* Excluding any impact from corporate-owned life insurance (COLI)
7. Xcel Energy and Wind Potential
Source: National Renewable Energy Laboratory
Wind Density
High
Xcel Energy
States Served
Low
8. Strategy: Building the Core
Targeted investment to meet increasing
customer needs:
Diverse, reliable supply
Environmentally responsible
Fairly priced energy
9. Earnings Growth Drivers
Annual
2009 Growth
2005 Potential Rate
Rate Base $10.8 B $13 B 4.5%
Regulatory Equity
Capitalization 52% 52 – 54% 0 to 1%
Return on Equity 9.6% 10.5 to 11% 2.3 to 3.5%
11. Incremental Investment Driven
by Economic Signals
Allocation of capital based on:
Customer need
Managing cost
Supportive regulatory treatment
Risk-adjusted return
Increased customer and shareholder value
12. Metro Emissions Reduction Program Status
High
King Bridge Riverside
Engineering ~ 100% 60% 3%
Equipment Purchase ~ 100% 70%
Project Cost ~ 90% 76% 20%
Construction 60% 25%
Completion May May May
2007 2008 2009
14. 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
Group II
South Dakota
Group III
Iowa
15. CapX 2020 — 3 Project Groups
Group I — In-service 2011 – 2012 Total Cost
SE Twin Cities-Rochester-LaCrosse WI / 345kV $1.3 Billion
Bemidji - Grand Rapids / 230 kV
Fargo - St. Cloud/Monticello area / 345 kV Xcel Share
Brookings - SE Twin Cities / 345 kV $700 Million
Group II — In-service 2012 – 2020 To be determined
New 345 kV transmission loop around the Twin Cities
Group III — In-service 2014 – 2020 To be determined
As needed and generation projects developed
Preliminary estimated total > $3 Billion
16. 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
Minnesota Electric * 154 131/115 ** 11.0 10.54
* Pending final Commission order
** $131 for 2006 reduced to $115 in 2007
17. 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
18. 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
19. Colorado Electric Rate Case
Staff Recommendation
PCCA &
Dollars in millions
Base Amend-
Rates ment 37 Total
Increase requested $ 178 $ 32 $210
ROE 9.5% vs. 11% - 48
Average Comanche rate base - 13
Wholesale contracts -8
Incentive compensation -5
Weather-normalization -4
Other -9
Total $ 91 $ 32 $123
Earnings neutral
Depreciation - 20 - 20
Total $ 71 $103
20. Colorado Electric Rate Case Schedule
Rebuttal testimony — September 29
Hearings — October 23 through November 9
Statement of positions — November 20
Deliberations — December 1
Initial decision — December 18
21. 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
22. Texas Electric Rate Case Schedule
Intervenor testimony — October 24 & 31
PUCT staff testimony — November 7
Hearings — November 28 through December 31
Decision date — March 2, 2007
23. Potential Additional Rate Cases
with 2007 Impact
Colorado Gas Planned for 2006
Minnesota Gas Planned for 2006
North Dakota Electric Potential
New Mexico Electric Potential
South Dakota Electric Potential
24. 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
25. 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
26. Financial Performance Objectives
EPS growth rate target 5 – 7% per year *
Annual dividend increases of 2 – 4% per year
Deliver an attractive total return
Credit rating
— Senior unsecured debt BBB+ to A range
* Excluding any impact from COLI
29. 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
30. Nuclear Relicensing Status
Monticello
License renewal approvals expected 2006
Life Cycle and power uprate modifications
to be installed 2008 – 2012
Prairie Island
License renewal application
— Submit to NRC and Minnesota PUC in 2008
— Approvals expected mid 2010
Unit 2 steam generator replacement expected 2013
31. Minnesota Cost Recovery Mechanisms
Projected electric fuel and purchased energy costs billed for the
the
current month with subsequent true-up; MISO costs recovered
true-up;
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
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
32. Colorado Cost Recovery Mechanisms
Energy Cost Adjustment recovers electric fuel and purchased
energy costs (through 2006) – Filed for new plan
Monthly Gas Cost Adjustment recovers natural gas commodity,
interstate pipeline and storage costs
Purchased Capacity Adjustment recovers the demand component
of purchased power contracts (through 2006) – Filed for new plan
Fuel Cost Adjustment recovers electric fuel and purchased energy
costs from wholesale customers
Demand-side Management Cost Adjustment rider (gas and
electric) and Air Quality Improvement rider (to recover cost of
emissions 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 investment
33. 2005 Rate Base and Returns
Return on Equity *
Dollars in millions
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 175 12.46 12.65
North Dakota Gas 42 5.71 6.81
South Dakota Electric 191
SPS Electric 1,422
Wisconsin Electric 613
6.26 **
Wisconsin Gas 83
* Reflects regulatory reporting requirements
** Electric and Gas
34. 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