Xcel Energy 2010 Annual Report Download - page 109

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5. Joint Ownership of Generation, Transmission and Gas Facilities
Following are the investments by Xcel Energy’s subsidiaries in jointly owned generation, transmission and gas facilities and the
related ownership percentages as of Dec. 31, 2010:
(Thousands of Dollars) Plant in
Service Accumulated Depreciation
Construction
Work in
Progress Ownership
%
NSP-Minnesota
Electric Generation:
Sherco Unit 3 ............................................ $ 538,043 $ 350,093 $ 13,494 59.0
Sherco Common Facilities Units 1, 2 and 3 ................. 126,437 79,988 5,601 75.0
Sherco Substation ........................................ 4,790 2,486
—
59.0
Electric Transmission:
Grand Meadow Line and Substation ........................ 11,204 603
—
50.0
CapX2020 Transmission .................................. 19,449 4,075 48,758 55.6
Total NSP-Minnesota ................................... $ 699,923 $ 437,245 $ 67,853
(Thousands of Dollars) Plant in
Service Accumulated Depreciation
Construction
Work in
Progress Ownership
%
PSCo
Electric Generation:
Hayden Unit 1 ............................................ $ 89,176 $ 59,191 $
—
75.5
Hayden Unit 2 ............................................ 82,079 54,680 21,405 37.4
Hayden Common Facilities ................................ 33,553 13,286 170 53.1
Craig Units 1 and 2 ....................................... 53,878 32,344 284 9.7
Craig Common Facilities 1, 2 and 3 ........................ 33,710 15,444 2,534 6.5 - 9.7
Comanche Unit 3 ......................................... 882,626 11,069 130 66.7
Comanche Common Facilities ............................. 4,246 80 3,205 82.0
Electric Transmission:
Transmission and other facilities, including substations ...... 148,002 55,249 2,080 Various
Gas Transportation:
Rifle to Avon ............................................ 16,278 6,369 4 60.0
Total PSCo ............................................ $ 1,343,548 $ 247,712 $ 29,812
NSP-Minnesota is part owner of Sherco Unit 3, an 860 MW, coal-fueled electric generating unit. NSP-Minnesota is the operating
agent under the joint ownership agreement. NSP-Minnesota’s share of operating expenses and construction expenditures are
included in the applicable utility accounts. CapX2020 is a joint initiative of 11 transmission-owning utilities in Minnesota and the
surrounding region to expand the electric transmission grid by approximately 700 miles. The estimated cost of this initiative is
$1.9 billion consisting of four major transmission projects with the goal of providing continued reliable and affordable electric
service. NSP-Minnesota’s and NSP-Wisconsin’s percentage ownership varies by project and its projected share of the investment
is approximately $1 billion. In 2010, construction began on two of the major projects (Fargo, N.D. to Monticello, Minn. and
Bemidji, Minn. to Grand Rapids, Minn. lines). In-service dates for the entire project are currently estimated to be from 2011
through 2015. Each of the respective owners is responsible for funding its portion of the construction costs.
PSCo’s current operational assets include approximately 820 MW of jointly owned generating capacity. PSCo’s share of
operating expenses and construction expenditures are included in the applicable utility accounts. Each of the respective owners is
responsible for the issuance of its own securities to finance its portion of the construction costs. PSCo began major construction
on a new jointly owned 750 MW, coal-fired unit in Pueblo, Colo. in January 2006. The new unit, Comanche Unit 3, was
completed and commercial operations occurred in July 2010. PSCo is the operating agent under the joint ownership agreement.
PSCo’s ownership interest in Comanche Unit 3 is 66.7 percent, and interest in the common facilities (assets used by all three
Comanche units) is approximately 82 percent.