Publication Date: May 22, 2018
Reporting Period: Jan. 1, 2017 – Dec. 31, 2017
Date of Previous Report: May 2017 (for 2016)
Reporting Cycle: Annual
Report Boundary: Xcel Energy and its four regulated utility subsidiaries, referred to as operating companies, including Northern States Power Company-Minnesota, Northern States Power Company-Wisconsin, Public Service Company of Colorado, and Southwestern Public Service Company
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Powering the lives of our customers and communities is at the core of what we do each day. We are committed to delivering clean energy without sacrificing reliability or affordability, and we understand the tremendous responsibility we have to ensure public safety, drive economic growth in our communities and protect the environment. Xcel Energy’s annual Corporate Responsibility Report focuses on this commitment and our economic, environmental and social contributions. Our report is built on 24 issues related to our corporate responsibility that we have identified as important to stakeholders and our company.
This year marks the 13th year we have published this report. Our first Corporate Responsibility Report (formerly known as the Triple Bottom Line report) was published in April 2005, with the contents covering the 2004 calendar year, and we have published a similar report in each following year. In 2012, we began publishing the full report online. We believe the online format provides easier access to information for our stakeholders. To raise awareness for our reporting and encourage stakeholders to access the report online, we print a highlights brochure that is distributed at our annual shareholders’ meeting and at other events throughout the year. We also provide links to the report throughout our corporate website.
Our ongoing goal for this report is to improve transparency and to meet the different information needs of the stakeholders that use it. With this in mind, we provide different levels of information.
Xcel Energy continues to base its Corporate Responsibility Report on Global Reporting Initiative (external link) GRI guidelines, which we have used since 2008. This year’s report is based on GRI’s Standards in accordance with the Core option and the Electric Utilities Sector Supplement. We have tried to meet the intent and follow the standards as closely as possible; however, there are instances where we track information for disclosure differently or not at all, based on our company or stakeholder information needs. For more information, please see the GRI Content Index.
Except for the historical statements contained in this report, the matters discussed herein are forward-looking statements that are subject to certain risks, uncertainties and assumptions. Such forward-looking statements, including the 2018 EPS guidance, the TCJA’s impact to Xcel Energy and its customers, long-term earnings per share and dividend growth rate, as well as assumptions and other statements identified in this document by the words “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “objective,” “outlook,” “plan,” “project,” “possible,” “potential,” “should,” “will,” “would” and similar expressions. Actual results may vary materially. Forward-looking statements speak only as of the date they are made, and we expressly disclaim any obligation to update any forward-looking information. The following factors, in addition to those discussed elsewhere in this Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2017 (including the items described under Factors Affecting Results of Operations; and the other risk factors listed from time to time by Xcel Energy Inc. in reports filed with the SEC, including “Risk Factors” in Item 1A of this Annual Report on Form 10-K and Exhibit 99.01 hereto), could cause actual results to differ materially from management expectations as suggested by such forward-looking information: general economic conditions, including inflation rates, monetary fluctuations and their impact on capital expenditures and the ability of Xcel Energy Inc. and its subsidiaries to obtain financing on favorable terms; business conditions in the energy industry, including the risk of a slowdown in the U.S. economy or delay in growth, recovery, trade, fiscal, taxation and environmental policies in areas where Xcel Energy has a financial interest; customer business conditions; actions of credit rating agencies; competitive factors including the extent and timing of the entry of additional competition in the markets served by Xcel Energy and its subsidiaries; unusual weather; effects of geopolitical events, including war and acts of terrorism; cyber security threats and data security breaches; state, federal and foreign legislative and regulatory initiatives that affect cost and investment recovery, have an impact on rates or have an impact on asset operation or ownership or impose environmental compliance conditions; structures that affect the speed and degree to which competition enters the electric and natural gas markets; costs and other effects of legal and administrative proceedings, settlements, investigations and claims; financial or regulatory accounting policies imposed by regulatory bodies; outcomes of regulatory proceedings; availability or cost of capital; and employee work force factors.
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