Greenhouse Gas Emissions

Xcel Energy is revising its estimated greenhouse gas emissions information contained in Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operation of the Company’s Annual Report on Form 10-K for the year ended Dec. 31, 2008. Subsequent to the filing of the Form 10-K, Xcel Energy obtained new information regarding emissions from purchased power that was not available to Xcel Energy at the time the Form 10-K was filed.  In addition, Xcel Energy has determined that minor modifications are required to the previously reported estimates of CO2 emissions from its own generation facilities included in its 2008 Form 10-K

Xcel Energy estimates that its current electric generating portfolio, which includes coal- and gas-fired plants, emitted approximately 67 million tons of CO2 in 2008, rather than the 66 million tons reported in the Form 10-K.  Xcel Energy has also revised its estimated emissions associated with electricity purchased for resale to Xcel Energy customers from generation facilities owned by third parties.  Xcel Energy estimates that these third-party facilities emitted approximately 20 million tons of CO2 in 2008, rather than the 21 million tons reported in the Form 10-K.

Based on the updated purchased power information received after the filing of Xcel Energy’s 2008 Form 10-K, Xcel Energy has further revised its annual and cumulative reductions in CO2.  Estimated total CO2 emissions, associated with service to Xcel Energy electricity customers, declined by 5.3 million tons in 2008 compared to 2007, rather than the decline of 3.2 million tons reported in the Form 10-K.  There was a combined cumulative reduction of over 26 million tons of CO2 since 2003, rather than the 21.9 cumulative reduction reported in the Form 10-K.

These emission estimates are based on the most current data available; however, the estimates may change as updated emissions information regarding owned generation and purchased power becomes available.

Except for the historical statements contained in this 8-K, the matters discussed herein, including our 2009 full year EPS guidance and the expected impact of rate cases, are forward-looking statements that are subject to certain risks, uncertainties and assumptions.  Such forward-looking statements are intended to be identified in this document by the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “objective,” “outlook,” “plan,” “project,” “possible,” “potential,” “should” and similar expressions.  Actual results may vary materially.  Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them to reflect changes that occur after that date. Factors that could cause actual results to differ materially include, but are not limited to: general economic conditions, including the availability of credit and its impact on capital expenditures and the ability of Xcel Energy and its subsidiaries to obtain financing on favorable terms; business conditions in the energy industry; 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; 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; 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; actions of accounting regulatory bodies; and the other risk factors listed from time to time by Xcel Energy in reports filed with the Securities and Exchange Commission (SEC), including Risk Factors in Item 1A and Exhibit 99.01 of Xcel Energy’s Annual Report on Form 10-K for the year ended Dec. 31, 2008

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