Legalectric

Once again, Xcel Energy’s demand is down.  From Seeking Alpha’s Transcript of Xcel’s 1Q Earnings Call (click on the quote for the full transcript):

Turning to our sales results, although the economy in our region remains strong and we continue to add customers, our weather-adjusted electric sales declined by 0.3%. Further adjusting for the impact of an extra day of sales in the quarter due to leap year, our weather-adjusted electric sales actually declined by 1.4%. The decline in sales is largely driven by lower use per customer from energy efficiency, an increase in the number of multi-family units, the impact of distributed solar and the impact on consumption of lower oil and natural gas prices on some of our larger customers.

As a result, we have lowered our full-year electric sales growth assumption to 0.5% from 0.5% to 1% range. We continue to expect positive sales growth for the full year in all jurisdictions, due to customer growth as well as planned expansion from some of our larger customers.

After Xcel’s decreased demand last year, well, let’s just say I love it when this happens:

Or more specifically:

9,327?  I think not…

Remember how off Steve Rakow, Minnesota Dept. of Commerce, tried to pass off the most incredible chart?  This was during the CapX 2020 Certificate of Need when the record was showing there just wasn’t going to be that 2.49% peak demand increase that the project relied on.  Rakow was allowed to enter this bogus chart:

Rakow tried to convince us, and did convince the ALJ and Commission, that Xcel Energy’s demand was going up, it was “just a blip” and demand would increase sufficiently high to justify CapX 2020 transmission!  What a crock…

Meanwhile, even Xcel Energy admits that demand remains down, and with this Earnings Call, dropped its projection.  As Xcel’s Ben Fowkes said recently, I think at the year end call, this is the “new normal.”

Are earnings calls transcripts entered into the rate case record?