Xcel Energy 2015 Annual Report Download - page 24
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Please find page 24 of the 2015 Xcel Energy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.6
PSCo
PSCo is a utility engaged primarily in the generation, purchase, transmission, distribution and sale of electricity in Colorado. The
wholesale customers served by PSCo comprised approximately 11 percent of its total KWh sold in 2015. PSCo also purchases,
transports, distributes and sells natural gas to retail customers and transports customer-owned natural gas. PSCo provides electric
utility service to approximately 1.4 million customers and natural gas utility service to approximately 1.4 million customers. All of
PSCo’s retail electric operating revenues were derived from operations in Colorado during 2015. Although PSCo’s large C&I electric
retail customers are comprised of many diversified industries, a significant portion of PSCo’s large C&I electric sales include the
following industries: fabricated metal products, communications and business services. For small C&I customers, significant electric
retail sales include the following industries: real estate and dining establishments. Generally, PSCo’s earnings contribute
approximately 40 percent to 50 percent of Xcel Energy’s consolidated net income.
PSCo owns the following direct subsidiaries: 1480 Welton, Inc. and United Water Company, both of which own certain real estate
interests; and Green and Clear Lakes Company, which owns water rights and certain real estate interests. PSCo also holds a
controlling interest in several other relatively small ditch and water companies.
SPS
SPS is a utility engaged primarily in the generation, purchase, transmission, distribution and sale of electricity in portions of Texas and
New Mexico. The wholesale customers served by SPS comprised approximately 31 percent of its total KWh sold in 2015. SPS
provides electric utility service to approximately 389,000 retail customers in Texas and New Mexico. Approximately 71 percent of
SPS’ retail electric operating revenues were derived from operations in Texas during 2015. Although SPS’ large C&I electric retail
customers are comprised of many diversified industries, a significant portion of SPS’ large C&I electric sales include the following
industries: oil and gas extraction, as well as petroleum and coal products. For small C&I customers, significant electric retail sales
include the following industries: oil and gas extraction, grocery and dining establishments. Generally, SPS’ earnings contribute
approximately 10 percent to 15 percent of Xcel Energy’s consolidated net income.
Other Subsidiaries
WGI is a small interstate natural gas pipeline company engaged in transporting natural gas from the PSCo system near Chalk Bluffs,
Colo., to Cheyenne, Wyo.
WYCO was formed as a joint venture with CIG to develop and lease natural gas pipeline, storage, and compression facilities. Xcel
Energy has a 50 percent ownership interest in WYCO. The gas pipeline and storage facilities are leased under a FERC-approved
agreement to CIG.
Xcel Energy Services Inc. is the service company for Xcel Energy Inc.
XETD and XEST are transmission-only subsidiaries that will, respectively, participate in MISO and SPP competitive bidding
processes for transmission projects. XEWT is a transmission-only subsidiary formed to competitively bid on transmission projects in
the western United States.
Xcel Energy Inc.’s nonregulated subsidiary is Eloigne, which invests in rental housing projects that qualify for low-income housing
tax credits.
Xcel Energy conducts its utility business in the following reportable segments: regulated electric utility, regulated natural gas utility
and all other. See Note 17 to the consolidated financial statements for further discussion relating to comparative segment revenues,
income from operations and related financial information.