Xcel Energy 2001 Annual Report Download

Download and view the complete annual report

Please find the complete 2001 Xcel Energy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 19

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19

STAYING POWER
XCEL ENERGY 2001 ANNUAL REPORT

Table of contents

  • Page 1
    S TAY I N G P O W E R XC E L E N E RG Y 2001 A N N UA L R E P O RT

  • Page 2
    ... items total earnings per share TA B L E O F C O N T E N TS : PAG E 2 - L E T T E R TO S H A R E H O L D E R S , PAG E 7 - BU I LT TO L A S T, PAG E 1 8 ON THE COVER: LINEMAN APPRENTICE JOBY SALLEE IS ONE OF MANY XCEL ENERGY EMPLOYEES W H O C O N T R I B U T E TO T H E C O M PA N Y ' S S TAY...

  • Page 3
    ...Western and Midwestern states. The company provides a comprehensive portfolio of energy-related products and services to 3.2 million electricity customers and 1.7 million natural gas customers. N R G E N E R G Y, I N C . ( N R G ) Xcel Energy's primary nonregulated subsidiary, NRG Energy, Inc., is...

  • Page 4
    ... energy industry, Xcel Energy proved it has staying power. Your company delivered solid financial results, grew its businesses and strengthened its position among global energy companies. We successfully integrated New Century Energies and Northern States Power Co. and put together a leadership team...

  • Page 5
    ...valuations, the potential for credit rating agency action that would lower bond ratings and NRG's financing needs, Xcel Energy's board of directors approved an exchange offer to acquire all of the outstanding publicly held shares of NRG as a way to increase Xcel Energy shareholder value. In order to...

  • Page 6
    ...grow our energy supply business. When Xcel Energy completed the repowering of Fort St. Vrain, the company increased the plant's capacity by more than 400 megawatts, which is equivalent to adding a medium-sized power plant. This year, a similar repowering will be completed at the Black Dog coal-fired...

  • Page 7
    .... In 2001, when natural gas prices were high, Xcel Energy employees worked closely with customers to help them cope with high energy bills. The company contributed to energy assistance programs, offered low-interest loans for energy conservation and worked one-on-one to design payment schedules...

  • Page 8
    M A RY S I M P L E R I S A C OA L YA R D S U P E RV I S O R AT X C E L E N E RG Y ' S S H E R B U R N E C O U N T Y ( S H E RC O ) C OA L - F I R E D P OW E R P L A N T N E A R B E C K E R , M I N N . S H E H A S W O R K E D I N T H E YA R D E N V I RO N M E N T FOR MORE THAN 25 YEARS. 6

  • Page 9
    ... for you, Xcel Energy relies on a number of earnings drivers, beginning with its regulated electric and natural gas utility business. The company operates its regulated business with several factors in its favor. Xcel Energy's service territory, for example, stretches across 12 states. That provides...

  • Page 10
    D O N P E R RY, L E A D G A S F I T T E R , ( L E F T ) A N D V I N C E M A Z Z U C C A , G A S A P P R E N T I C E , W O R K E D TO G E T H E R O N A G A S C O N S T R U C T I O N C R E W O U T O F E V E RG R E E N , C O L O . , U N T I L F E B R UA RY 2 0 0 2 , W H E N P E R RY R E T I R E D A F T...

  • Page 11
    ... of power between the companies' respective systems. Xcel Energy's regulated business experienced solid customer growth in 2001 despite the downturn in the economy, adding more than 91,000 new natural gas and electric customers. The company also participated in a pilot program designed to determine...

  • Page 12
    S U E D O L A N , M A N A G E R , G A S A C QU I S I T I O N A N D T R A D I N G , I S PA RT O F A T E A M T H AT B U Y S A N D T R A D E S N AT U R A L G A S I N T H E RO C K Y M O U N TA I N R E G I O N . SHE WORKS IN DENVER.

  • Page 13
    ... 68 33 28 To contribute to earnings growth, Xcel Energy introduced a number of new revenue-generating products in 2001 that help customers conserve energy and manage their energy use. For example, InfoWise products and services allow customers to use the Internet to obtain real-time information...

  • Page 14
    J I M M I E Y O U N G , A N X C E L E N E RG Y M AT E R I A L H A N D L E R , H A S W O R K E D AT T H E C O M PA N Y ' S WA R E H O U S I N G FA C I L I T Y I N M A P L E G RO V E , M I N N . , F O R A L M O S T 1 5 Y E A R S . 12

  • Page 15
    ... there were opportunities available in providing larger quantities of transformers across a broader geographical area. After much hard work, the team achieved $3 million in savings. Since the merger, Xcel Energy has chartered similar teams to look for savings in purchasing gas meters, vehicle fuels...

  • Page 16
    14 C R A I G T W E E T I S A N O P E R AT I N G A N D M A I N T E N A N C E E N G I N E E R AT T H E N RG E N E RG Y C E N T E R - M I N N E A P O L I S , W H I C H S U P P L I E S H E AT I N G A N D C O O L I N G S E RV I C E S F O R T H E M A J O R I T Y O F D OW N TOW N M I N N E A P O L I S .

  • Page 17
    ... power plant management across the Xcel Energy system; and - Capturing infrastructure savings to maximize available synergies. Xcel Energy believes that its decision to acquire the public shares of NRG is in the best interest of both the NRG and Xcel Energy shareholders, and expects NRG to...

  • Page 18
    T H E X C E L E N E R G Y T E A M O F ( F R O M L E F T ) T O M M Y B U L L O C K , S E RV I C E M A N , A RT S A M A R RO N , J O U R N EY M A N L I N E M A N , A N D J O B Y S A L L E E , L I N E M A N A P P R E N T I C E , C O M PE T E D W I T H D I S T I N C T I O N I N T H E 2 0 0 1 I N T E R N...

  • Page 19
    ... Xcel Energy, the future is bright with possibilities, and we're well-positioned to take advantage of new opportunities. Our business is built on a strong foundation that includes solid financials, valuable assets and a thriving service territory. We have excellent employees. We care about customers...