Xcel Energy 2010 Annual Report Download - page 18

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COMPANY OVERVIEW
Xcel Energy is a holding company, with subsidiaries engaged primarily in the utility business. In 2010, Xcel Energy’s continuing
operations included the activity of four wholly owned utility subsidiaries that serve electric and natural gas customers in eight
states. These utility subsidiaries are NSP-Minnesota, NSP-Wisconsin, PSCo and SPS. These utilities serve customers in portions
of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. Along with WYCO, a joint
venture formed with Colorado Interstate Gas Company (CIG) to develop and lease natural gas pipeline, storage, and compression
facilities, and WGI, an interstate natural gas pipeline company, these companies comprise the continuing regulated utility
operations.
Xcel Energy was incorporated under the laws of Minnesota in 1909. Xcel Energy’s executive offices are located at 414 Nicollet
Mall, Minneapolis, Minn. 55401. Its website address is www.xcelenergy.com. Xcel Energy makes available, free of charge
through its website, its annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and all
amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 as soon
as reasonably practicable after the reports are electronically filed with or furnished to the SEC. The public may read and copy any
materials that Xcel Energy files with the SEC at the SEC’s Public Reference Room at 100 F Street, N.E., Washington, D.C.
20549. The public may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330.
The SEC also maintains an internet site that contains reports, proxy and information statements, and other information regarding
issuers that file electronically with the SEC at http://www.sec.gov.
Xcel Energy focuses on growing through investments in electric and natural gas rate base to 1) meet growing customer demands,
2) comply with environmental and renewable energy initiatives and 3) maintain or increase reliability and quality of service to
customers. Xcel Energy files periodic rate cases and establishes formula rate or automatic rate adjustment mechanisms with state
and federal regulators to earn a return on its investments and recover costs of operations. Environmental leadership is a strategic
priority for Xcel Energy. Our environmental leadership strategy is designed to meet customer and policy maker expectations
while creating shareholder value.
NSP-Minnesota
NSP-Minnesota is an operating utility primarily engaged in the generation, purchase, transmission, distribution and sale of
electricity in Minnesota, North Dakota and South Dakota. The wholesale customers served by NSP-Minnesota comprised
approximately 6 percent of its total sales in 2010. NSP-Minnesota also purchases, transports, distributes and sells natural gas to
retail customers and transports customer-owned natural gas in Minnesota and North Dakota. NSP-Minnesota provides electric
utility service to approximately 1.4 million customers and natural gas utility service to approximately 0.5 million customers.
Approximately 89 percent of NSP-Minnesota’s retail electric operating revenues were derived from operations in Minnesota
during 2010. Generally, NSP-Minnesota’s earnings contribute approximately 35 percent to 45 percent of Xcel Energy’s
consolidated net income.
The electric production and transmission system of NSP-Minnesota is managed as an integrated system with that of NSP-
Wisconsin, jointly referred to as the NSP System. The electric production and transmission costs of the entire NSP System are
shared by NSP-Minnesota and NSP-Wisconsin. A FERC-approved Interchange Agreement between the two companies provides
for the sharing of all generation and transmission costs of the NSP System.
NSP-Minnesota owns the following direct subsidiaries: United Power and Land Company, which holds real estate; and NSP
Nuclear Corporation.
NSP-Wisconsin
NSP-Wisconsin is an operating utility primarily engaged in the generation, transmission, distribution and sale of electricity in
portions of northwestern Wisconsin and in the western portion of the Upper Peninsula of Michigan. The wholesale customers
served by NSP-Wisconsin comprised approximately 8 percent of its total sales in 2010. NSP-Wisconsin also purchases,
transports, distributes and sells natural gas to retail customers and transports customer-owned natural gas in the same service
territory. NSP-Wisconsin provides electric utility service to approximately 250,000 customers and natural gas utility service to
approximately 106,000 customers. The management of the electric production and transmission system of NSP-Wisconsin is
integrated with NSP-Minnesota. Approximately 98 percent of NSP-Wisconsin’s retail electric operating revenues were derived
from operations in Wisconsin during 2010. Generally, NSP-Wisconsin’s earnings contribute approximately 5 percent to 10
percent of Xcel Energy’s consolidated net income.