Xcel Energy 2013 Annual Report Download - page 9
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factors that have the potential to change our business
over time.
Increasingly, customers want options in the ways they use
energy and control their costs. With natural gas prices low
and the price of renewable energy sources such as solar
decreasing, customers are faced with more energy choices
than ever before. Public policy around issues such as the
environment also has the potential to make an impact on our
business. And, again, regulators and customers are sensitive
to rising energy prices, which requires us to be extra diligent
in managing costs.
Fortunately, our customers look to us
for solutions, and we intend to be there
to supply them. Our vision is to be the
preferred and trusted supplier of the
energy our customers need, both today
and tomorrow. We have focused our
corporate strategy on controlling costs
while continuing the drive to operational excellence, providing
customers more choices, making smart investments that
benefit both customers and shareholders and becoming
more engaged than ever in understanding customer needs
and addressing the interests of policymakers.
Building on our strong foundation of trust, we look forward
to executing plans to drive us toward fulfilling that vision.
Investing in the energy grid
As we look ahead to a changing energy landscape, we
become more cognizant of the value of our service and,
ANNUAL REPORT 2013
XCEL ENERGY
7
Oil production in Texas and New Mexico increased electric demand in the area by
almost 10 percent in 2013. Xcel Energy is planning, permitting and constructing
projects for its distribution and transmission systems to meet that demand. Part
of the plan includes establishing a separate TransCo subsidiary that will enable
Xcel Energy to be in a strong position to benefit from this growing opportunity.