What is Xcel Energy's updated 2009 earnings per share (EPS) guidance?

Xcel Energy plans to reiterate its 2009 full-year diluted EPS guidance of $1.45 to $1.55 per share during investor meetings.

What are the key reasons for the Public Service Company of Colorado's (PSCo) requested electric rate increase?

The primary drivers for PSCo's requested rate increase, effective in 2010, are the costs associated with bringing Comanche Unit 3 into service and the transition of certain Air Quality Improvement Rider and Demand-Side Management Cost Adjustment costs into base rates. The company is seeking an overall increase in annual revenues to reflect these changes.

Have there been any changes to Xcel Energy's reported greenhouse gas emissions?

Yes, Xcel Energy revised its 2008 greenhouse gas emissions data. CO2 emissions from its own generation were revised slightly upward to approximately 67 million tons, while emissions associated with purchased power were revised slightly downward to approximately 20 million tons. These revisions led to updated figures for annual and cumulative CO2 reductions, indicating a larger decrease in emissions than previously reported.

When can investors expect a decision on the PSCo rate case?

PSCo anticipates that the Colorado Public Utilities Commission (CPUC) will reach a decision on the 2010 rate case within approximately eight months, with new base rates expected to be effective on January 1, 2010.

XEL/XELLL 8-K: Regulation FD

Summary

Xcel Energy Inc. (XEL) filed an 8-K on May 1, 2009, primarily to disclose upcoming investor meetings and provide updates on its Public Service Company of Colorado (PSCo) subsidiary's rate case and greenhouse gas emission reporting. Management planned to reiterate its 2009 earnings per share (EPS) guidance of $1.45 to $1.55 during an investor conference. This communication aims to keep investors informed about key operational and financial developments. The most significant operational news pertains to PSCo's filing for a retail electric rate increase in Colorado, effective in 2010. This filing, driven largely by the anticipated in-service date of Comanche Unit 3 and a shift of certain costs into base rates, seeks to increase annual revenues. Additionally, Xcel Energy revised its 2008 greenhouse gas emission figures, providing updated estimates for both its own generation and purchased power, resulting in revised annual and cumulative CO2 reduction figures.

Key Highlights

1Xcel Energy management to present at the AGA conference (May 3-5, 2009) and reiterate 2009 EPS guidance of $1.45-$1.55.
2Public Service Company of Colorado (PSCo), a subsidiary, filed for a Colorado retail electric general rate increase effective in 2010.
3The PSCo rate increase request is approximately $132.5 million over its rebuttal testimony in the current rate case and is driven by costs associated with Comanche Unit 3 coming online and shifts in rate riders.
4PSCo is seeking an 11.25% rate of return on equity and is basing the request on a 2010 calendar year budget.
5Xcel Energy revised its 2008 greenhouse gas emissions reporting, increasing CO2 emissions from its own generation to 67 million tons (from 66 million) and decreasing emissions from purchased power to 20 million tons (from 21 million).
6Revised greenhouse gas data shows a larger 2008 CO2 reduction (5.3 million tons vs. 3.2 million) and cumulative reduction since 2003 (over 26 million tons vs. 21.9 million) compared to prior reporting.
7The company included standard forward-looking statement disclaimers and risk factors relevant to its business operations.

XCEL ENERGY INC 8-K Report, Regulation FD Disclosure (May 1, 2009)

Summary

Key Highlights

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