Xcel Energy 2015 Annual Report Download - page 156
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For the nuclear assets, the ARO is associated with the decommissioning of the NSP-Minnesota nuclear generating plants, Monticello
and PI. See Note 14 for further discussion of nuclear obligations.
A reconciliation of Xcel Energy’s AROs for the years ended Dec. 31, 2015 and 2014 is as follows:
(Thousands of Dollars)
Beginning
Balance
Jan. 1, 2015 Liabilities
Recognized Liabilities
Settled Accretion Cash Flow
Revisions (b)
Ending
Balance
Dec. 31, 2015
Electric plant
Nuclear production decommissioning. . . . . . $2,037,947 $ — $ — $ 103,077 $ — $ 2,141,024
Steam and other production ash containment 127,600 — — 4,746 (759) 131,587
Steam and other production asbestos . . . . . . 69,698 3,875 — 3,670 7,248 84,491
Wind production . . . . . . . . . . . . . . . . . . . . . . 38,260 31,085 (a) — 1,778 523 71,646
Electric distribution . . . . . . . . . . . . . . . . . . . . 12,593 — — 463 131 13,187
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,605 127 (273) 178 (94) 4,543
Natural gas plant
Gas transmission and distribution . . . . . . . . . 149,964 — — 5,969 — 155,933
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,925 — — 155 (114) 3,966
Common and other property
Common general plant asbestos . . . . . . . . . . 505 — — 27 19 551
Common miscellaneous. . . . . . . . . . . . . . . . . 1,534 — — 56 44 1,634
Total liability. . . . . . . . . . . . . . . . . . . . . . . . $2,446,631 $ 35,087 $ (273) $ 120,119 $ 6,998 $ 2,608,562
(a) The liability recognized relates to the NSP-Minnesota Pleasant Valley and Border Wind Farms which were placed in service during 2015.
(b) In 2015, AROs were revised for changes in estimated cash flows and the timing of those cash flows. Changes in the asbestos AROs were mainly related to
updated cost estimates.
The aggregate fair value of NSP-Minnesota’s legally restricted assets, for purposes of funding future nuclear decommissioning, was
$1.7 billion as of Dec. 31, 2015, consisting of external investment funds.
(Thousands of Dollars)
Beginning
Balance
Jan. 1, 2014 Liabilities
Recognized Accretion Cash Flow
Revisions (a)
Ending
Balance
Dec. 31, 2014 (b)
Electric plant
Nuclear production decommissioning. . . . . . . . . . . . . . . . . $ 1,628,298 $ — $ 86,284 $ 323,365 $ 2,037,947
Steam and other production ash containment . . . . . . . . . . . 79,353 — 3,354 44,893 127,600
Steam and other production asbestos . . . . . . . . . . . . . . . . . 50,827 747 2,972 15,152 69,698
Wind production . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37,464 — 1,676 (880) 38,260
Electric distribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,186 — 444 (37) 12,593
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,551 705 137 212 4,605
Natural gas plant
Gas transmission and distribution . . . . . . . . . . . . . . . . . . . . 1,198 20,935 76 127,755 149,964
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 575 2,865 24 461 3,925
Common and other property
Common general plant asbestos . . . . . . . . . . . . . . . . . . . . . 480 — 25 — 505
Common miscellaneous. . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,458 — 53 23 1,534
Total liability. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,815,390 $ 25,252 $ 95,045 $ 510,944 $ 2,446,631
(a) In 2014, revisions were made to various AROs due to revised estimated cash flows and the timing of those cash flows. Changes to estimated nuclear production
decommissioning primarily relate to the triennial filing made to the MPUC in December 2014. See additional information in Note 14. Changes in estimated
excavation costs and the timing of future retirement activities resulted in revisions to AROs related to gas transmission and distribution.
(b) There were no ARO liabilities settled during the year ended Dec. 31, 2014.
The aggregate fair value of NSP-Minnesota’s legally restricted assets, for purposes of funding future nuclear decommissioning, was
$1.7 billion as of Dec. 31, 2014, consisting of external investment funds.