xcel energy 9_8888LehmanConfPresentation952007SEC

The document is a presentation by Dick Kelly, Chairman and CEO of Xcel Energy, at a Merrill Lynch conference on September 25, 2007. Kelly summarizes Xcel's value proposition as a low-risk regulated utility with opportunities for investment and environmental leadership. He outlines the company's accomplishments in 2007, upcoming capital investment opportunities, and expectations for continued earnings per share growth of 5-7% and dividend growth of 2-4% per year through strong capital expenditure programs and constructive regulation.