Xcel Energy 2006 Annual Report Download - page 89

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All property of NSP-Minnesota and NSP-Wisconsin and the electric property of PSCo are subject to the liens of their first mortgage
indentures. In addition, certain SPS payments under its pollution-control obligations are pledged to secure obligations of the Red River
Authority of Texas.
Maturities of long-term debt are:
(Millions of Dollars)
2007............................................................... $336.4
2008............................................................... $631.8
2009............................................................... $557.7
2010............................................................... $782.9
2011............................................................... $ 51.5
5. Preferred Stock
Xcel Energy has authorized 7,000,000 shares of preferred stock with a $100 par value. At Dec. 31, 2006, Xcel Energy had six series of
preferred stock outstanding, redeemable at its option at prices ranging from $102.00 to $103.75 per share plus accrued dividends.
The holders of the $3.60 series preferred stock are entitled to three votes per each share held. The holders of the other series of
preferred stock are entitled to one vote per share. In the event dividends payable on the preferred stock of any series outstanding is in
arrears in an amount equal to four quarterly dividends, the holders of preferred stocks, voting as a class, are entitled to elect the
smallest number of directors necessary to constitute a majority of the board of directors. The holders of common stock, voting as a
class, are entitled to elect the remaining directors.
The charters of some of Xcel Energy’s subsidiaries also authorize the issuance of preferred stock. However, at Dec. 31, 2006, there are
no preferred shares of subsidiaries outstanding.
Preferred Shares
Authorized Par Value
Preferred Shares
Outstanding
SPS ........................................................... 10,000,000 $ 1.00 None
PSCo.......................................................... 10,000,000 $ 0.01 None
6. Generating Plant Ownership and Operation
Joint Plant Ownership — Following are the investments by Xcel Energy’s subsidiaries in jointly owned plants and the related
ownership percentages as of Dec. 31, 2006:
Plant in
Service
Accumulated
Depreciation
Construction
Work in
Progress Ownership%
(Thousands of Dollars)
NSP-Minnesota
Sherco Unit 3 ........................................... $496,188 $293,906 $ 2,130 59.0
Sherco Common Facilities Units 1, 2 and 3 ................... 106,939 57,800 2,292 75.0
Transmission facilities, including substations ................. 4,832 2,004
—
59.0
Total NSP-Minnesota................................... $607,959 $353,710 $ 4,422
PSCo
Hayden Unit 1........................................... $ 87,051 $ 45,840 $ 371 75.5
Hayden Unit 2........................................... 81,467 47,021 544 37.4
Hayden Common Facilities ................................ 28,270 6,343
—
53.1
Craig Units 1 and 2....................................... 52,872 27,061 316 9.7
Craig Common Facilities Units 1, 2 and 3 .................... 31,888 10,158 323 6.5-9.7
Comanche Unit 3 ........................................
—
—
215,557 66.7
Transmission and other facilities, including substations ......... 139,725 49,846 488 11.6-68.1
Total PSCo ........................................... $421,273 $186,269 $217,599
NSP-Minnesota is part owner of Sherco 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. Each of the respective owners is responsible for funding its portion of the construction costs. For Sherco
Common Facilities Units 1, 2 and 3, the ownership percentage for Xcel Energy increased from 65.6 percent to 75 percent in
January 2006 on new capital investments.