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.
Liquids Pipelines Infrastructure in North America Opportunities and ChallengesPorts-To-Plains Blog
Ports-to-Plains Energy Summit
Omni Interlocken Resort
Broomfield, CO
April 7, 2011
Alberta has the world’s second largest oil reserves, but new pipelines are needed to move this resource to markets in the U.S. Find out about proposed pipeline projects in the region and what they mean for job creation.
Liquids Pipelines Infrastructure in North America Opportunities and ChallengesPorts-To-Plains Blog
Ports-to-Plains Energy Summit
Omni Interlocken Resort
Broomfield, CO
April 7, 2011
Alberta has the world’s second largest oil reserves, but new pipelines are needed to move this resource to markets in the U.S. Find out about proposed pipeline projects in the region and what they mean for job creation.
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Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
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.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
The new type of smart, sustainable entrepreneurship and the next day | Europe...
XEL_092606
1. Building the Core
Executing the Strategy
Dick Kelly
Chairman, President and CEO
Merrill Lynch
Global Power & Gas Leaders Conference
September 26 – 27, 2006
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
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
4. Strategy: Building the Core
Targeted investment to meet increasing
customer needs:
Diverse, reliable supply
Environmentally responsible
Fairly priced energy
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)
6. 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
7. Xcel Energy Service Area Growth Continues
28,000 MW
Supply
21,000
Contracted Purchases Requirement
14,000
Owned Generation
7,000
0
2007 2009 2011 2013 2015
8. Xcel Energy and Wind Potential
Source: National Renewable Energy Laboratory
Wind Density
High
Xcel Energy
States Served
Low
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%
10. Investment Opportunities 2006 - 2020
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20
Committed
MERP $700 A-MN
$700 A
Estimated
Comanche 3 $900 P
$900 F
Cost
$700
CapX 2020 Group 1 A
A
Potential
$4 A
A
Colorado IGCC Investment
$30
Mercury A-MN A Rider
$60 A-MN Recovery
CAIR
License Extension & Uprate: F Forward
$300
Monticello Regulatory
Prairie Island $700 Recovery
Plant Repowering & Uprate $100
New Generation/Gas Storage
Environmental Improvements A-MN
CapX 2020 Group 2 A
CapX 2020 Group 3 A
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 * 156 131/115 ** 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
22. Texas Electric Rate Case Developments
Schedule calls for decision by March 2, 2007
Company identified change to jurisdictional
allocations that increase Texas revenue
requirement by $15 million
Filed changes with the ALJ on September 25
Working with parties on negotiating
a reasonable extension
Anticipate a one-two month delay in the
decision date
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. 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
25. 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
28. 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
29. 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
30. 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
31. 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
32. 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
33. 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