February 2nd, 2017
Xcel’s 2016 Earnings Call was this morning. Look at the above chart, pay close attention to the numbers I’ve highlighted in yellow. 2016 4th Quarter sales growth is down 0.6%. Yearly sales decrease is -0.3%. Here’s the rest of the Earnings Call Presentation:
Remember CapX 2020, based on projections of annual increases of 2.49%. Remember Commerce’s Steve Rakow who introduced the most bizarre chart ever in an effort to prop up need for CapX 2020, one without identifying the X axis or Y axis and just a sine wave trending sharply upward? Yea, this one…
Hasn’t worked out that way, has it… the 2016 10-K isn’t filed yet, so there’s only 2015 to go on, though looking at their 10-Q for summer, I expect it’s flat at best.
So with sales down, I presume it’ll be flat peak demand? It’s not disclosed in the 3rd Quarter 10-Q. Xcel, we’ll be looking for that this month in your 10-K filing!
October 8th, 2016
It was a long, long day. Bottom line? Based on the record, and based on acknowledgement of Xcel’s peak demand history, we can shut down Sherco 1 & 2 now without missing it, and by 2025 or so, shut down Prairie Island and not have to pay for significant rehab to keep it running.
Here is the PUC webcast:
Here is my handout, noting the 700-788MW overstatement of peak demand forecast.
With the “forecast” that much off, it’s as absurd as the CapX 2020 2.49% annual increase. Staff questioned the forecasts in the Briefing Papers, Commissioner Lange raised forecasts right off the bat, and Commissioner Schuerger claimed it was at least 300 MW off (don’t know where that 300 MW came from). These discrepancies havce been noted, and they should dig deeper, because the numbers used by Xcel do not add up. Were they lying in the SEC filings or are they lying now? Why isn’t Commerce challenging this, given admissions of the existing surplus? This forecast overstatement, plus admission of under-utilization of grid (meaning grid has been overbuilt, DOH, CapX 2020 and MVP projects are not “needed” in any sense) raises a few issues:
1) This misrepresentation is NOW equivalent to at least one coal plant, and by the end of 2030, or by the time presumed for shut down of Sherco 1 and 2, it’s much more than that.
2) This misrepresentation avoids consideration of shut down of Sherco 1 & 2 NOW, and shutdown of Prairie Island at the 2024-2026 time frame, and avoidance of $600-900 million in capital costs, or more, for Prairie Island.
3) This misrepresentation circumvents discussion of the admitted surplus now existing, even Dr. Rakow admitted to that at least twice in Thursday’s discussion. Where there is surplus, they can sell it elsewhere, and that is, after all, the purpose of CapX 2020 and MVP transmission.
Got that? We can shut down Sherco 1 & 2 now without missing it, and by 2025 or so, shut down Prairie Island and not have to pay for significant rehab to keep it running. This is not rocket science. It’s as simple as using actual peak demand as a starting point and not making up numbers as they have been doing.
August 29th, 2016
Xcel Energy’s rate case just received another interesting twist — a request of the PUC that the parties to the “settlement agreement” show their work! I love it when that happens.
PUC staff wants detailed information about how they reached the numbers they did, how the settlement relates to each of the parties initial positions and testimony, etc., to “show your work!” The PUC staff is requesting this information so that the Commission can determine whether to accept, modify, or reject the partial settlement agreement. And note that the parties are mostly those e21Participants who signed off on Xcel’s Exe21_Initiative scam.
GOOD! Take a close look, PUC!
To review the filings in this docket, go to this PUC SEARCH DOCUMENTS PAGE and search for docket “15-826.”
August 9th, 2016
And use eFiling if you want to send attachments. Go HERE and sign up to eFile, it’s easy, and then you’re not limited by US Mail.
July 28th, 2016
Last night’s Xcel Energy Rate Case public hearing was the largest crowd of the ones I attended. There were also more public comments than at any hearing I’d attended.
To look at the docket, which includes testimony, go HERE and search for PUC Docket 15-826. The testimony, particularly that of the OAG-RUD, Commerce DER, and AARP are worth a look.
Now, it’s time to get to writing comments. Probably the Rebuttal Testimony won’t be filed in time to read and comment on, grrrrrrrrrrrrr.