HighGravityDataXcel Energy — Feb 6, 2025 release
Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000072903-25-000023
Showing in the filing
PSCo base sales forecast (compound annual growth)
“7% compound annual sales growth”
Period
FY2031
Measure
Company-defined measure
Source
Prose
All guidance in this release · 51
Base capital expenditures - PSCo for FY2026
“$5,190”
Base capital expenditures - PSCo for FY2027
“$3,940”
Base capital expenditures - PSCo for FY2028
“$3,780”
Base capital expenditures - PSCo for FY2029
“$3,550”
Base capital expenditures - PSCo 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”
Base capital expenditures - NSP-Minnesota for FY2029
“$2,570”
Base capital expenditures by function - Elec… for FY2025
“$2,570”
Base capital expenditures by function - Elec… for FY2026
“$3,000”
Base capital expenditures by function - Elec… for FY2027
“$3,400”
Base capital expenditures by function - Elec… for FY2028
“$3,320”
Base capital expenditures by function - Elec… for FY2029
“$3,540”
Base capital expenditures by function - Elec… for FY2025
“15,830”
Base capital expenditures by function - Elec… for FY2025
“12,560”
Total base capital expenditures for FY2028
“$7,570”
Total base capital expenditures for FY2029
“$7,840”
Financing plan - Base capital expenditures for FY2025
“$45,000”
Base capital expenditures - Other for FY2029
“$10”
Base capital expenditures - Other for FY2028
“$10”
Base capital expenditures - Other for FY2027
“$10”
Potential additional capital expenditures be… for FY2025
“$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”
Base capital expenditures by function - Natu… for FY2025
“$800”
Cash proceeds from forward sale agreements a…
“approximately $1.36 billion”
NSP-Minnesota planned resource additions (wi… for FY2030
“3,200 MW of wind, 400 MW of solar and 600 MW of stand-alone storage”
PSCo base sales forecast (compound annual gr… for FY2031
“7% compound annual sales growth”
PSCo low sales forecast (compound annual gro… for FY2031
“3% compound annual sales growth”
PSCo forecasted new generation capacity need for FY2031
“5-14 GW”
PSCo Wildfire Mitigation Plan (WMP) estimate… for FY2025
“approximately $1.9 billion”
SPS projected resource needs (IRP) for FY2030
“approximately 5,300 MW to 10,200 MW”
SPS RFP accredited generation capacity sought for FY2030
“approximately 3,200 MW”
Financing plan - Equity through the Dividend… for FY2025
“$500”
Ongoing earnings (EPS) for FY2025
“$3.75 to $3.85 per share”
Weather-normalized retail electric sales for FY2025
“~3%”
Weather-normalized retail firm natural gas s… for FY2025
“~1%”
Capital rider revenue (net of PTCs) for FY2025
“$260 million to $270 million”
Base capital expenditures by function - Rene… for FY2027
“$260”
O&M expenses for FY2025
“~3%”
Depreciation expense for FY2025
“approximately $210 million to $220 million”
Property taxes for FY2025
“$55 million to $65 million”
Interest expense (net of AFUDC - debt), net … for FY2025
“$165 million to $175 million”
AFUDC - equity for FY2025
“$110 million to $120 million”
Long-term annual EPS growth objective 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)”
Annual dividend increases objective for the long term
“4% to 6%”
Dividend payout ratio target for the long term
“50% to 60%”
Senior secured debt credit ratings target for the long term
“the A range”
Exhibit 99.1 · the passage around this item
… earlier in the release
The filing reflects the expected growth on the system, the generation resources needed to meet the projected growth and the future evaluation of competitive bids for new generation resources. • The plan reflects a base sales forecast with 7% compound annual sales growth through 2031. • The plan also presents a low sales forecast with a 3% compound annual sales growth through 2031. • The resource plan includes forecasted need of 5-14 GW of new generation capacity through 2031, including renewables and firm dispatchable resources to meet the two different scenarios. The acquisitions of generation resources will be determined through a competitive solicitation after the CPUC determines the portfolio. The table below summarizes two of the proposed portfolios based on the different sales scenarios: (Megawatts) Base Plan Low Load Wind 7,250 2,800 Solar 3,077 1,200 Natural gas combustion turbine 1,575 1,400 Storage (long duration) 1,600 — Other storage 450 — Total 13,952 5,400 The procedural schedule is as follows: • Answer testimony: April 18, 2025 • Rebuttal testimony: May 23, 2025 • Settlement deadline: June 2, 2025 • Hearing: June 10-20, 2025 • Statements of position: July 14, 2025 A CPUC decision on the resource plan is expected by the fall of 2025 (Phase I) with the competitive solicitation for resource additions expected in early 2026. 13 PSCo — Wildfire Mitigation Plan — In June 2024, PSCo filed an Updated Wildfire Mitigation Plan (t
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.