HighGravityDataXcel Energy — Oct 31, 2024 release
Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000072903-24-000196
Showing in the filing
Funding of additional capital investment
“approximately 40% equity and 60% debt”
Period
No period stated
Measure
Company-defined measure
Source
Prose
All guidance in this release · 40
Ongoing EPS for FY2024
“$3.50 to $3.60”
Ongoing EPS for FY2025
“$3.75 to $3.85”
Long-term annual growth objectives dividend … for the long term
“4 to 6%”
PSCo base capital expenditures (Total) for FY2025
“$22,280”
Total base capital expenditures for FY2025
“$11,000”
Total base capital expenditures for FY2026
“$9,840”
Total base capital expenditures for FY2027
“$8,750”
Electric distribution base capital expenditu… for FY2025
“$15,830”
Total base capital expenditures for FY2028
“$7,570”
Total base capital expenditures for FY2029
“$7,840”
Potential additional capital expenditures be… for FY2025
“approximately $10 billion or greater”
Funding mix for additional capital investment for the long term
“approximately 40% equity and 60% debt”
Funding of additional capital investment
“approximately 40% equity and 60% debt”
Financing plan - Cash from operations for FY2025
“$25,320”
Financing plan - Maturing debt for FY2025
“$3,730”
Financing plan - Equity through the Dividend… for FY2025
“$500”
Weather-normalized retail firm natural gas s… for FY2025
“~1%”
Weather-normalized retail firm natural gas s… for FY2024
“decline by ~1%”
Capital rider revenue increase assumption for FY2024
“$60 million to $70 million (net of PTCs)”
O&M expense growth assumption for FY2024
“3% to 4%”
O&M expenses for FY2024
“3% to 4%”
Depreciation expense for FY2024
“approximately $290 million to $300 million”
Depreciation expense increase assumption for FY2024
“approximately $290 million to $300 million”
Property tax change assumption for FY2024
“expected to decline $10 to $20 million”
Property taxes for FY2024
“$10 to $20 million”
Interest expense (net of AFUDC - debt, net o… for FY2024
“increase $130 million to $140 million”
Interest expense increase assumption for FY2025
“$130 million to $140 million, net of interest income”
Interest expense increase assumption for FY2024
“$130 million to $140 million, net of interest income”
AFUDC - equity for FY2024
“$70 million to $80 million”
AFUDC - equity increase assumption for FY2024
“$70 million to $80 million”
Weather-normalized retail electric sales gro… for FY2025
“~3%”
Capital rider revenue increase assumption for FY2025
“$240 million to $250 million (net of PTCs)”
O&M expense growth assumption for FY2025
“~3%”
O&M expenses for FY2025
“~3%”
Depreciation expense increase assumption for FY2025
“approximately $210 million to $220 million”
Property tax increase assumption for FY2025
“$40 million to $50 million”
AFUDC - equity increase assumption for FY2025
“$120 million to $130 million”
Long-term annual EPS growth for the long term
“6% to 8% based off of $3.55 per share (the mid-point of 2024 original ongoing earnings guidance of $3.50 to $3.60 per share)”
Dividend payout ratio target for the long term
“50% to 60%”
Senior secured debt credit ratings target for the long term
“A range”
Exhibit 99.1 · the passage around this item
… earlier in the release
Base Capital Forecast (Millions of Dollars) By Function 2025 2026 2027 2028 2029 Total Electric distribution $ 2,570 $ 3,000 $ 3,400 $ 3,320 $ 3,540 $ 15,830 Electric transmission 2,260 2,860 2,740 2,390 2,310 12,560 Renewables 3,360 1,400 260 — — 5,020 Electric generation 1,210 1,150 910 580 620 4,470 Natural gas 800 680 690 630 620 3,420 Other 800 750 750 650 750 3,700 Total base capital expenditures $ 11,000 $ 9,840 $ 8,750 $ 7,570 $ 7,840 $ 45,000 10 The base plan does not include any potential incremental generation or transmission assets that are pending commission approval through a request for proposal (RFP), a resource plan, or from additional data center load, which could result in additional capital expenditures of approximately $10 billion or greater. Xcel Energy generally expects to fund additional capital investment with approximately 40% equity and 60% debt. Xcel Energy’s capital expenditure forecast is subject to continuing review and modification. Actual capital expenditures may vary from estimates due to changes in electric and natural gas projected load growth, safety and reliability needs, regulatory decisions, legislative initiatives, tax policy, reserve requirements, availability of purchased power, alternative plans for meeting long-term energy needs, environmental initiatives and regulation, and merger, acquisition and divestiture opportunities. Financing for Capital Expenditures through 2029 — Xcel Energy issues debt and equity securities to refinance retiring debt maturities, reduce short-term debt, fund capital programs, infuse equity in subsidiaries, fund asset acquisitions and for general corporate purposes. Current estimated financing plans of Xcel Energy for 2025-2029 (includes the impact of tax credit transferability): (Millions of Dollars) Funding Capital Expenditures Cash from operations (a) $ 25,320 New debt (b) 15,180 Equity through the Dividend Reinvestment and Stock Purchase Program and benefit program 500 Other equity 4,000 Base capital expenditures 2025-2029 $ 45,000 Maturing debt $ 3,730 (a) Net of div
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.