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» Xcel Energy's CEO Discusses Q1 2012 Results - Earnings Call Transcript
So stay colder again if we get our customers providing clean, reliable, safe energy at a reasonable cost will be more effective in terms of obtaining construction regulations all coupled with an investment pipeline, which actually drives our earnings growth.So starting with stay colder alignment and a couple areas around stay colder alignment, I'm sure you're all aware, we'll very proud of our environment leadership. You can see from an energy supply perspective in terms of the progress we've made since 2005. If we look to 2005, a small grain sliver of the renewables were at 3%. We're at about 10% right now. We have over 4,000 megawatts of wind on our system. Our coal is declining. And by 2015, we expect to be at the 17% level. So we've made significant progress and expect to continue. We have pretty strong renewables; I would say a high level of renewable portfolio standards. In Colorado as well as Minnesota, they need to be 30% from renewables by 2020. But we think we're well on track to achieve that. Continuing on the environmental theme, you can see our emissions reductions have been significant since 2005. And we've been trending down. Again, this isn't just the renewables coming onto our system. We've really started early in terms of plant retrofit primarily in Minnesota, which were completed in the later part, between 2005 and 2010, 11 [inaudible]. We also have many more plans. The next biggest area is clean air, clean jobs in Colorado, which we had some legislation passed in 2010. We have our plan. And as I said, we're executing on that. So moving from the environmental theme, but under stay colder alignment, we have operational excellence. And this is really our reliability metrics in terms of our customers. Again, that clean, safe, reliable energy is very important to our customers. You can see our trend. Since 2007, we have been tracking down. I will just point in terms of Arcadia, over there on the far right hand, in 2011, we did a hiccup. We had some unusual weather in 2011. First in Minnesota in the summer, we had a tornado actually in Minneapolis in the northern part, which just wiped out a several block area. And so of course, service was out. In Colorado, we had early winters storms. In October, we had two of them, so outages with that. But we able to restore service in record time. So from a reliability perspective, we think we are clearly on track.
Of course in terms of the cost to our customers or their bills, we have been executing major construction programs over the past several years. And we have been able to bring these construction programs in on budget and on time, which helps us then manage the overall bill impact. You can see how we compare to the national average in all of our major jurisdictions. We're below our national average.Our customers also where we had the opportunity would like to have choice in terms of demand side management programs. We probably have some of the most mature demand side management programs in the U.S. particularly our CIT programs in Minnesota. We are paid incentives relative to those programs. Last year, 2011, it was a contribution of $71 million to our earnings. Overall, we believe we've avoided building 3,200 megawatts of generation. On the renewable side, we also have voluntary wind source program in our major jurisdictions, so if customers want to be more green, they can opt for that. And we also have customer incentives available for residential or small businesses that want to put rooftop solar on either their home or their business. Read the rest of this transcript for free on seekingalpha.com