Brian Rusel

Brian Rusel asked for clarification on the upcoming Colorado JTS and large tariff filings, how they integrate with capacity needs and RFPs, and their connection to the 6 GW data center target by 2027. He also inquired about the $10 billion CapEx pipeline and potential upside beyond the low end of the 5,000-14,000 GW range for data center needs in Colorado.

Answer

Brian Van Abel, EVP and CFO, explained that Xcel Energy aims to file the large load tariff in Colorado in early Q2, intending to package generation with large loads to benefit existing customers. He confirmed the 6 GW target is contemplated across the system, with an initial focus on the Upper Midwest. He also characterized the $10 billion CapEx pipeline as a low-end estimate that does not include significant data center growth in Colorado, indicating additional generation investments would follow a large load tariff filing.

Brian Rusel asked about the upcoming Colorado filings for the JTS and large tariff, how they integrate with the 6 GW data center target by 2027, and if the $10 billion CapEx pipeline includes significant data center growth in Colorado.

Answer

Brian Van Abel, Executive Vice President and Chief Financial Officer, explained that Xcel Energy aims to file the large load tariff in Colorado in Q2, intending to package large loads with generation to serve them within this framework. He clarified that the 6 GW data center target is contemplated across the entire system, with a current focus on the Upper Midwest, and confirmed that the $10 billion CapEx pipeline's low end did not include significant data center growth in Colorado, indicating potential upside.