Xcel Energy 2009 Annual Report Download - page 5
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CONNECTED•XCEL ENERGY 2009 ANNUAL REPORT• 3
continue to affect energy sales, with an economic
recovery likely to take time.
We also increased the dividend by 3 cents, or 3.2
percent, in 2009, enabling us to meet our dividend
growth goal of 2 percent to 4 percent. Since 2005,
the dividend has grown at a compounded average
growth rate of 3.3 percent.
ACHIEV IN G
OPER ATION AL
EXCELLENCE
As we’ve reported for several years, Xcel Energy’s
corporate strategy is to meet customer needs
and grow our businesses through environmental
leadership. In 2009, we completed several
major construction projects, which enabled us
to deliver on those strategic goals. Because we
accomplished those projects on time, on budget
and safely, we also demonstrated a level of
operational excellence that sets us apart.
In Minnesota, we completed the final portion
of a major emission-reduction project when we
converted our Riverside coal-fired plant to a natural
gas-fired facility. The effort, which also included
completely refurbishing another coal-fired plant and
converting a third to natural gas, added about 300
megawatts of generating capacity and significantly
reduced emissions. At Riverside, for example, we
virtually eliminated emissions of sulfur dioxide,
particulate and mercury.
In Colorado, we successfully completed the
addition of two natural gas-fired combustion
turbines to our Fort St. Vrain generating station.
The units, which add about 300 megawatts
of electricity, will enable us to reliably serve
customers during periods of high electric demand.
Another Colorado effort, which began
start-up efforts earlier this year, is Comanche 3,
a 750-megawatt, coal-fired unit at our Comanche
facility near Pueblo. It’s a project we began
several years ago after reaching a comprehensive
settlement with several prominent environmental
groups. We own 500 megawatts of the new unit
and fit all three units with advanced emission-
reduction equipment. As a result, we have
more than doubled the generating capacity of the
entire Comanche facility, while lowering overall
sulfur dioxide and nitrogen oxide emissions from
the plant.
As part of the Comanche 3 effort, we also
successfully completed construction of a major
transmission project that included about 125 miles
of new transmission lines and two substation
additions. In Minnesota, we completed the final
phase of a three-part project to increase our
wind outlet capability on the Buffalo Ridge to
1,200 megawatts. At our Southwestern Public
Service Co., we constructed 23 miles of new
transmission line ahead of summer’s high electric
demand to support outlet of the Hobbs generating
station. Overall, our transmission efforts also
were completed on time, on budget and safely.
Those investments enable us to strengthen the