Xcel Energy 2000 Annual Report Download - page 3

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REPORTS OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Board of Directors and Stockholders of NRG Energy, Inc.:
In our opinion, the consolidated balance sheet and the related consolidated statements of income, of stockholders’ equity and cash flows present fairly, in all
material respects, the financial position of NRG Energy, Inc. and its subsidiaries (not presented separately herein) at Dec. 31, 2000, and the results of their
operations and their cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America. These
financial statements are the responsibility of the Company’s management; our responsibility is to express an opinion on these financial statements based
on our audit. We conducted our audit of these statements in accordance with auditing standards generally accepted in the United States of America, which
require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.
An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles
used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.
PricewaterhouseCoopers LLP
Minneapolis, Minnesota
March 2, 2001
To the Shareholders of Xcel Energy Inc.:
In our opinion, the consolidated balance sheets and statements of capitalization as of Dec. 31, 1999, and the related consolidated statements of income, of
common stockholders’ equity and of cash flows for the years ended Dec. 31, 1999 and 1998, of Northern States Power Co. and its subsidiaries (not presented
separately herein) present fairly, in all material respects, the results of operations and cash flows of Northern States Power Co. and its subsidiaries for the
years ended Dec. 31, 1999 and 1998, and its financial position at Dec. 31, 1998, in conformity with accounting principles generally accepted in the United States.
These financial statements are the responsibility of the Company’s management; our responsibility is to express an opinion on these financial statements
based on our audits. We conducted our audits of these statements in accordance with auditing standards generally accepted in the United States, which
require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used
and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable
basis for the opinion expressed above.
PricewaterhouseCoopers LLP
Minneapolis, Minnesota
Jan. 31, 2000, except as to Note 2,
which is as of Feb. 22, 2000
32
XCEL ENERGY INC. AND SUBSIDIARIES
REPORTS OF MANAGEMENT AND INDEPENDENT PUBLIC ACCOUNTANTS