Xcel Remains Positive Despite Decrease in 2015 Earnings
February 1, 2016
By Michael Brooks
Xcel Energy last week reported net income of $984.5 million in 2015, a 3.6% decrease from $1.02 billion in 2014, as lagging sales and “negative” weather led to a decrease in revenue. The company brought in about $11 billion in 2015, compared to $11.7 billion in 2014.extremely troublesome...busy. They are not self directed, the NRC has to hold their hands. They been teetering on the edge for many years. Sounds like they are so poor they have to kick out of the house the eldest child in order to save the youngest.
Posted on Feb 16, 2016
(Red Wing, MN) -- Xcel Energy is waiting on approval from the Minnesota Public Utilities Commission to move forward with an 18-month study on the future of Prairie Island nuclear plant in Red Wing. The study will examine the economics of possibly shutting down the facility before its
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"Xcel also responded to concerns by state regulators about the ballooning cost of preserving its two nuclear power plants in Minnesota. The utility defended the projected investment of $1.2 billion or more over 15 years as cost-effective but said it is open to discussing early retirement of the Prairie Island nuclear plant in Red Wing, Minn."
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So you justify a two plant dog facility based on inconsequential CO2 emissions? CO2 emissions is making electricity much more expensive and is weakening the grid. Just get in the media eyes with problems.operating license expires in 2034. Though Xcel Energy believes the plant is a cost-effective part of its goal to
I say again, the plant's capacity and edging towards more NRC attention, they are a extremely fragile condition. I don't trust their estimates. I'l add another billion dollars if the NRC gets on your case.
reduce carbon dioxide emissions, the company is analyzing options for early decommissioning because of higher capital expenses over the next 20 years than originally expected. However, company officials say those are offset by lower-than-predicted operating and maintenance costs. A decision could be reached by 2018.
The Fukushima response in not that expensive. It just the go-to excuse when they can't run this plant professionally.The filing, a supplement to Xcel Energy’s 2016-2030 Upper Midwest Resource Plan, states the company anticipates a $175 million increase in expenditures in the next five years over what was predicted in 2012, as well as increases of $600 million to $900 million from 2021 through 2034.The driving costs are attributed to new requirements
following the 2011 Diiachi nuclear disaster at Fukushima, Japan, and a general increase in regulations by the U.S. Nuclear Regulatory Commission.
These guys are crazy. They have been squeezing operating and maintenence budgets for years, It looks like you shifting operating and maintenance cost into the Fukushima response. It looks like they have been putting putting off maintenence work for years...there is a back log of work.However, the increases are largely offset by lower-than-predicted operating and maintenance costs for the plant,
And the fracking miracle is breathing down their throats. Lets not even talk about Monticello's botched upgrade.Xcel Energy noted. The company expects to spend $1 billion less in fixed costs at Prairie Island through 2034.
Xcel Remains Positive Despite Decrease in 2015 Earnings
“I am pleased with our 2015 results,” CEO Ben Fowke said. “We delivered earnings within our guidance range despite negative weather and certain regulatory challenges.”
The $2.09 EPS excluded a $79 million charge ($0.15/share) from cost overruns on the upgrade of its Monticello nuclear plant.
The decrease in revenue was partially offset by reduced natural gas costs and operations and maintenance expenses, as Xcel improved efficiency at its nuclear plants.These guys are under the Mike Mulligan watch. Monticello and PI are under my watch.
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