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Exhibit 99.01
Xcel Energy Cautionary Factors
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements to encourage such disclosures without the threat
of litigation, providing those statements are identified as forward-looking and are accompanied by meaningful, cautionary statements identifying important factors that could cause the actual results
to differ materially from those projected in the statement. Forward-looking statements have been and will be made in written documents and oral presentations of Xcel Energy. Such statements are based
on management's beliefs as well as assumptions made by and information currently available to management. When used in Xcel Energy's documents or oral presentations, the words "anticipate",
"estimate", "expect", "objective", "outlook", "possible", "potential" and similar expressions are intended to identify forward-looking statements. In addition to any assumptions and other factors
referred to specifically in connection with such forward-looking statements, factors that could cause Xcel Energy's actual results to differ materially from those contemplated in any forward-looking
statements include, among others, the following:
-
- Economic
conditions, including inflation rates and monetary fluctuations;
-
- Trade,
monetary, fiscal, taxation and environmental policies of governments, agencies and similar organizations in geographic areas where Xcel Energy has a
financial interest;
-
- Customer
business conditions, including demand for their products or services and supply of labor and materials used in creating their products and
services;
-
- Financial
or regulatory accounting principles or policies imposed by the Financial Accounting Standards Board, the SEC, the Federal Energy Regulatory
Commission and similar entities with regulatory oversight;
-
- Availability
or cost of capital such as changes in: interest rates; market perceptions of the utility industry, Xcel Energy or any of its subsidiaries; or
security ratings;
-
- Factors
affecting utility and nonutility operations such as unusual weather conditions; catastrophic weather-related damage; unscheduled generation
outages, maintenance or repairs; unanticipated changes to fossil fuel, nuclear fuel or gas supply costs or availability due to higher demand, shortages, transportation problems or other developments;
nuclear or environmental incidents; or electric transmission or gas pipeline constraints;
-
- Employee
workforce factors, including loss or retirement of key executives, collective bargaining agreements with union employees, or work stoppages;
-
- Increased
competition in the utility industry, including: industry restructuring initiatives; transmission system operation and/or administration
initiatives; recovery of investments made under traditional regulation; nature of competitors entering the industry; retail wheeling; a new pricing structure; and former customers entering the
generation market;
-
- Rate-setting
policies or procedures of regulatory entities, including environmental externalities, which are values established by regulators
assigning environmental costs to each method of electricity generation when evaluating generation resource options;
-
- Nuclear
regulatory policies and procedures, including operating regulations and spent nuclear fuel storage;
-
- Social
attitudes regarding the utility and power industries;
-
- Cost
and other effects of legal and administrative proceedings, settlements, investigations and claims;
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-
- Technological
developments that result in competitive disadvantages and create the potential for impairment of existing assets;
-
- Factors
associated with nonregulated investments, including conditions of final legal closing, foreign government actions, foreign economic and currency
risks, political instability in foreign countries, partnership actions, competition, operating risks, dependence on certain suppliers and customers, domestic and foreign environmental and energy
regulations;
-
- Many
of the project investments made by Xcel Energy's subsidiary NRG Energy, Inc. consist of minority interests, and a substantial portion of future
investments may take the form of minority interests, which limits NRG's ability to control the development or operation of the project; and
-
- Other
business or investment considerations that may be disclosed from time to time in Xcel Energy's SEC filings or in other publicly disseminated written
documents.
Xcel
Energy undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing
review of factors pursuant to the Act should not be construed as exhaustive or as any admission regarding the adequacy of disclosures made by Xcel Energy prior to the effective date of the act.
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Exhibit 99.01 Xcel Energy Cautionary Factors