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Companies / Xcel Energy / Filing

Xcel Energy — Feb 6, 2025 release

Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000072903-25-000023
Open on SEC.gov ↗
Showing in the filing
Total base capital expenditures
“$11,000”
Period
FY2025
Measure
Company-defined measure
Source
Guidance table
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
Commercial paper P-2 A-2 F2 NSP-Minnesota Commercial paper P-1 A-2 F2 NSP-Wisconsin Commercial paper P-1 A-2 F2 PSCo Commercial paper P-2 A-2 F2 SPS Commercial paper P-2 A-2 F2 Capital Expenditures — Base capital expenditures for Xcel Energy for 2025 through 2029: Base Capital Forecast (Millions of Dollars) By Regulated Utility 2025 2026 2027 2028 2029 Total PSCo $ 5,820  $ 5,190  $ 3,940  $ 3,780  $ 3,550  $ 22,280  NSP-Minnesota 3,240  2,500  2,830  2,080  2,570  13,220  SPS 1,400  1,540  1,280  1,040  1,040  6,300  NSP-Wisconsin 640  650  690  660  670  3,310  Other (a) (100) (40) 10  10  10  (110) Total base capital expenditures $ 11,000  $ 9,840  $ 8,750  $ 7,570  $ 7,840  $ 45,000  (a) Other category includes intercompany transfers for safe harbor wind turbines. 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 $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 chang
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.