Xcel Energy 2011 Annual Report Download - page 3

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environmental leadership position and
result in lasting value for you. Building
on that strong momentum, we are
energized for the challenges ahead.
Meeting our financial goals
Ongoing earnings per share were $1.72 in
2011, compared with $1.62 in 2010. That
means we achieved the upper half of our
guidance range, making 2011 the seventh
consecutive year in which we have met or
exceeded our earnings guidance.
Ongoing earnings increased primarily due
to higher electric margins as a result of
warmer-than-normal summer weather
As your new chairman, president and CEO,
I am honored to lead Xcel Energy and
will say without hesitation that this is the
best energy company in the nation. Our
strong financial performance, operational
excellence, customer focus and proactive
environmental efforts position us for
long-term success. That was evident
in 2011, an excellent year for us.
We met or exceeded our financial goals,
achieved our system reliability targets
despite challenges and hit a record high
in customer satisfaction. We continued to
take advantage of investment opportunities
that will benefit customers, ensure our
XCEL ENERGY 2011฀ANNUAL฀REPORT฀•฀1
BEN FOWKE
CHAIRMAN,
PRESIDENT AND CEO
Dear Shareholders: