Electric & Natural Gas Utilities Nicole Kivisto President & CEO Utilities Group Building A Strong America 1
Strategy Recognized as one of the top performing utilities in the nation Safety First Industry leader in safety Customers Deliver safe, reliable and economic service to more than 1 million customers across eight states Employees…
Strengths Regulated model: Low risk; franchised service areas Reliable earnings and cash flows Geographic diversity Organic growth opportunities Strong regulatory relationships Recognized ability to close acquisitions Building…
Electric & Natural Gas Utilities Building a Strong America Operating in 8 states More than 1 million electric and natural gas customers in 447 communities 2% customer growth in 2014, electric sales grew 4% Electric Natural Gas…
Rate Base & Earnings Growth More than tripled rate base and Projecting 11% CAGR in earnings since 2006 rate base next 5 years 1,600 80 2,800 1,400 2,400 1,200 60 2,000 1,000 1,600 800 40 1,200 600 800 400 20 200 400 0 0 0…
Rate Base Growth (in millions) 2014 rate base 1,472 5year cap ex 1,752 Depreciation (646) Deferred taxes (69) Net rate base increase 1,037 2019 projected rate base 2,509 Building a Strong America Electric & Natural Gas…
Substantial Organic Growth Opportunities Generation Projects Expect 2015 completion 107.5 MW of wind generation 200 million Environmental upgrade to Big Stone Station 90 million 19 MW natural gas generation near Lewis & Clark Station…
Substantial Organic Growth Opportunities (cont.) Transmission and Distribution Proposed MidcontinentISO multivalue 345Kv transmission line 170 million, expected completion 2019 2015 Bakken region investments 60 million 30mile…
Regulatory Activity Completed ND PSC approved rate adjustment for Heskett III under the electric generation resource recovery rider effective January 2015; 5.3 million annually Recovery in ND of Big Stone AQCS project through…
Regulatory Activity (cont.) Expected 2015 activity Oregon gas Montana electric South Dakota electric Washington gas Minnesota gas Building a Strong America Electric & Natural Gas Utilities 10
Outlook 475 million capital expenditures planned for 2015 Plan to invest approximately 1.8 billion during next 5 years Expect to grow rate base 11% compounded annually over next 5 years Timely regulatory recovery Potential mergers…
Electric & Natural Gas Utilities Building A Strong America 12
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