Xcel Energy 2010 Annual Report Download - page 91

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81
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Board of Directors and Stockholders
Xcel Energy Inc.
We have audited the accompanying consolidated balance sheets and consolidated statements of capitalization of Xcel Energy Inc.
and subsidiaries (the “Company”) as of December 31, 2010 and 2009, and the related consolidated statements of income,
common stockholders’ equity and comprehensive income, and cash flows for each of the three years in the period ended
December 31, 2010. Our audits also included the financial statement schedules listed in the Index at Item 15. These financial
statements and financial statement schedules are the responsibility of the Company’s management. Our responsibility is to
express an opinion on the financial statements and financial statement schedules based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States).
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements
are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures
in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable
basis for our opinion.
In our opinion, such consolidated financial statements present fairly, in all material respects, the financial position of Xcel Energy
Inc. and subsidiaries as of December 31, 2010 and 2009, and the results of their operations and their cash flows for each of the
three years in the period ended December 31, 2010, in conformity with accounting principles generally accepted in the United
States of America. Also, in our opinion, such financial statement schedules, when considered in relation to the basic consolidated
financial statements taken as a whole, present fairly, in all material respects, the information set forth therein.
We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the
Company’s internal control over financial reporting as of December 31, 2010, based on the criteria established in Internal
Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission and our
report dated February 28, 2011 expressed an unqualified opinion on the Company’s internal control over financial reporting.
/s/ DELOITTE & TOUCHE LLP
Minneapolis, Minnesota
February 28, 2011