Xcel Energy admits “growth” is down

July 30th, 2015

arrowdown

Xcel Energy’s 2nd quarter call was this morning.

Xcel Energy (XEL) Benjamin G. S. Fowke on Q2 2015 Results – Earnings Call Transcript

From the Seeking Alpha transcript, a cute tidbut:

The decline in residential sales is driven by lower customer usage. We believe this trend is due to a combination of factors including appliance efficiency, conservation efforts, and an increase in multi-unit dwellings. We have adjusted our annual electric sales guidance to reflect year-to-date results, which lowers our expected growth rate for 2015 to about 0.5%.

Got that?

0.5%

That’s a ways away from the 2.49% upon which the CapX 2020 transmission build-out was based.  DOH!

And about multi-year plans and why they “underperformed,” there was this snippet on the Seeking Alpha transcript:

And I think if you look at why we’ve under-earned, we’ve had a lot of CapEx going through a funnel. We had to relicense our nuclear plants. We had some challenges there as everyone in the industry did. And we didn’t have a lot of forums to communicate some of those challenges. So it’s not only the mechanisms associated with the legislation in the multi-year plan; it’s kind of what that frees you up to do. And I am optimistic that we will make good progress next year and in the years to come.

And from our friends at Xcel:

2Q 2015 Report_1001200774

And more:

• Xcel Energy Second Quarter 2015 Earnings Report
• Xcel Energy Second Quarter 2015 Earnings Presentation

And for those of you into charts and graphs (from the 2Q 2015 Report_1001200774):

Xcel 2Q 2015

Posted by Carol A. Overland
Filed in Energy, Transmission
No Comments »

Leave a Reply