| XEL Capital Structure and Liquidity
As of March 31, 2009, XEL had $2 billion in available liquidity through cash and short-term credit facilities. In summer 2009, XEL plans to issue $400.0 million in FMB at NSP-Wisconsin and $400.0 million in FMB at PSCo to refinance debt maturities, reduce ST- debt and fund construction programs.
Capital Expenditure 2020 - In June 2006, Capital Expenditure 2020, an alliance of electric cooperatives, municipals, and investor-owned utilities including XEL, announced that it had identified three groups of transmission projects that it proposes to complete by 2020. If projects are approved, it is anticipated that transmission capex would ramp up as other project-related capex declines reflecting the completion of current generation projects.
Group 1 project investments are expected to total approximately $1.3 billion, with major construction targeted to begin in 2009 or 2010 and ending three or four years later. XEL's investment is expected to be approximately $700 million. The approximate lengths and general locations of the proposed lines in Group 1 are as follows:
• A 200-mile, 345-kilovolt (kV) line between Brookings, S.D., and the southeast Twin Cities, plus a related 30-mile, 345-kV line between Marshall, Minn., and Granite Falls, Minnesota
• A 200-mile, 345-kV line between Fargo, N.D., and the St. Cloud/Monticello, Minnesota area
• A 150-mile, 345-kV line between the Twin Cities, Rochester, Minnesota., and La Crosse, Wisconsin
• A 70-mile, 230-kV line in the Bemidji area of north central Minnesota
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