Xcel Energy 2001 Annual Report Download - page 19

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In addition to financial strength, staying power is measured by long-term
commitments. Xcel Energy is strongly committed to the communities it serves.
The company’s contributions include corporate grants through the Xcel Energy
Foundation, economic development efforts and employee and retiree volun-
teerism. In 2001, Xcel Energy employees and retirees pledged more than $1.7
million to local United Way organizations. Combined with its corporate grant, Xcel
Energy’s total contribution to the United Way in 2002 will be $3.5 million. The
company also is a strong supporter of women- and minority-owned businesses
and received special recognition last year for those efforts.
Environmental stewardship is another indication of Xcel Energy’s community
commitment. In Denver, the company is implementing a $211 million voluntary
initiative to reduce air emissions at three coal-fired plants. All improvements are
expected to be completed and operational by 2003. In Minnesota, a similar
emissions-reduction plan is under consideration for plants in the Minneapolis-
St. Paul metropolitan area.
Xcel Energy also is financing a renewable development fund that annually awards
$8.5 million in grants to develop renewable energy generators – including wind,
solar, biomass and hydro facilities – and to conduct research into renewable energy
technologies. Some of the research proposals include studying the feasibility of
producing electricity from distiller grains used in the production of ethanol,
exploring better ways to store power from wind turbines and developing improved
fuel-cell prototypes. While every project might not succeed in the long run, it’s
important to explore the possibilities.
For 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 and the community. And we
are committed to achieving long-term growth and value for you. Xcel Energy is
built to last, regardless of changing industry or economic conditions. Your company
has staying power.
XCEL ENERGY EMPLOYEES TAKE
THEIR RESPONSIBILITY TO CUS-
TOMERS AND SHAREHOLDERS
SERIOUSLY. THAT COMMITMENT
MOTIVATES THEIR EFFORTS –
FROM WORKING LONG HOURS IN
ALL KINDS OF WEATHER TO
MEETING THE CHALLENGES OF
THE NEW ENERGY MARKETPLACE.
THEIR WORK ETHIC, DEDICATION
AND EXPERTISE ARE ESSENTIAL
TO THE COMPANY’S STAYING
POWER.