Xcel Energy Inc. · NASDAQ:XEL

Xcel Energy — PSCo 2022 All-Source RFP Bidder's Conference

24 slides from Xcel Energy's conference presentation, Dec 20, 2022

  1. Slide 1: Bidder's Conference

    12/29/2022 BIDDER’S CONFERENCE PSCo 2021 Electric Resource Plan (ERP) Phase II 2022 All-Source Request for Proposal (RFP) December 20th, 2022 1 TODAY’S AGENDA 1.Introductions 6.Transmission 2.RFP Logistics 7.Q/A Session #2 3.Independent Evaluator 8.Best Value Employment Metrics 4.Bidding Details 9.Q

  2. Slide 2: Introductions and Meeting Logistics

    12/29/2022 Introductions Xcel Energy  Robert Kenney, President, Public Service Company of Colorado  Jon Landrum, Director, Resource Planning-Colorado  Jack Ihle, Regional Vice President, Regulatory Affairs Accion Group  Harry Judd, Independent Evaluator (IE) Leeds School of Business, University

  3. Slide 3: Logistics | RFP Schedule

    12/29/2022 Logistics | RFP Schedule Activity Date RFP Issuance December 1st, 2022 Bidder’s Conference December 20th, 2022 Notice of Intent to Respond February 15th, 2023, by 4:00 P.M. MT Proposals Due March 1st, 2023, by 4:00 P.M. MT 30-Day RFP Response Report to PUC March 31st, 2023 45-Day Bidder N

  4. Slide 4: Logistics | Notice of Intent to Respond

    12/29/2022 Logistics | Notice of Intent to Respond (NOIR)  Mandatory for Bid Participation  Submit to RFP Project Manager email no later than 4:00 PM MT, February 15th, 2023 © 2022 Xcel Energy 7 7 Logistics | Bid and Bid Fee Submittal  Upload link emailed upon receipt of NOIR  Return email will

  5. Slide 5: Logistics | Confidentiality and Bid Fees

    12/29/2022 Logistics | Confidentiality The Company will generally seek to protect all bid information as Highly Confidential under PUC rules. However, per PUC rules:  Certain high-level bid information (including price) will be released publicly following the conclusion of the RFP  The Company res

  6. Slide 6: Independent Evaluator for PSCo - Xcel

    12/29/2022 Logistics | Bid Fees (cont.) Exceptions where multiple options will be considered with a single fee:  Ownership and PPA versions (for projects over 2 MW)  Multiple pricing options  Fixed and escalating pricing  With or without compensable PTC and/or curtailment costs  Solar + storage

  7. Slide 7: Introduction of Accion

    12/29/2022 Introduction of Accion  Selected by the CPUC, OCC, PSCo  2013 Xcel/PSCo Dispatchable  2013 Xcel/PSCo Renewables  2013 Xcel/PSCo Semi-Dispatchable  2017 Xcel/PSCo All Source  2022 Xcel/PSCo All Source  Extensive Experience as Independent Evaluator  Over 120 Solicitations in Past 18

  8. Slide 8: About the IE – RFP Experience

    12/29/2022 About the IE – RFP Experience TERM OF INITIAL STATE SERVICE CAPACITY SOUGHT FUEL SOURCE YEAR (YEARS) Arizona Seasonal – 3 2,800 MW All Source 2003 Arizona Open Open Renewable 2006 Arizona 10 175,000 MWh Renewable 2007 Arizona Open 90 MW All Source 2007 Arizona 30 230 kW, 115 kW All Source

  9. Slide 9: RFP Experience (Continued)

    12/29/2022 RFP Experience (Continued) TERM OF INITIAL STATE SERVICE CAPACITY SOUGHT FUEL SOURCE YEAR (YEARS) Colorado 1-25 1800 MW All Source -Renewable 2016 Georgia 20 60 MW Solar 2016 Georgia 40 600 – 1,200 MW All Source/Nuclear incl. 2016-17 California 2, 3, 5 1,402 MW Combined Heat and Power 201

  10. Slide 10: Role of the IE

    12/29/2022 Role of the IE  Monitor the Standards of Conduct  Ensure the RFP is not designed to advantage any Bidder  Including any Company bids  Monitor separation of the Company’s Evaluation Team & Bidders  Supports clear and consistent Communications and Messaging  Monitor & review all email

  11. Slide 11: Role of the IE; Expectations of Bidders

    12/29/2022 Role of the IE Confirm Bids received via PSCo ‘drop box’ Confirm Bids released to Evaluation Team only after  Bid period closes  The Evaluation model is “locked down” Confirm all Company Bids received at least 24 hours before other bids. © 2022 Xcel Energy 21 21 Expectations of Bidde

  12. Slide 12: Bidding Details | Summary of RFPs

    12/29/2022 Bidding Details  All-Source RFP  Eligible COD dates from 2023 through December 31st, 2028  Resource Firm Capacity Need (cumulative) Year 2023 2024 2025 2026 2027 2028 CAPACITY NEED (MW) 183 388 398 433 840 1,556 © 2022 Xcel Energy 23 23 OWNERSHIP TYPES PURCHASE OWN Purchase Power Build

  13. Slide 13: Bidding | Hybrid Projects

    12/29/2022 Bidding | Hybrid Projects  A hybrid project is a combination of multiple generation and/or storage components  A hybrid project does not require a storage component  For example, a wind and solar facility is considered a hybrid proposal  For a PPA - if a bidder is seeking cost recover

  14. Slide 14: Transmission | Colorado Power Pathway (CPP)

    12/29/2022 QUESTIONS © 2022 Xcel Energy 27 Transmission | Colorado Power Pathway (CPP)  $1.7 to $2 billion dollar investment  New double-circuit 345-kilovolt electric transmission line  About 545 miles divided into 5 segments  Includes 3 new and 4 expanded substations  Additional 60 miles with

  15. Slide 15: Transmission | Interconnection

    12/29/2022 Transmission | Interconnection  PSCo filed Queue Reform on December 14th, 2022, in Docket ER23-629-000  Increases the certainty that projects in the queue are ready to interconnect  Identifies unready projects cause multiple harms and are delaying the interconnection of ready projects

  16. Slide 16: Transmission | Resource Solicitation Cluster (RSC)

    12/29/2022 Transmission | Resource Solicitation Cluster (RSC)  Expect to begin an RSC in Q2 2023  Likely to be several portfolios to capture primary and backup bids  RSC bidders will be contacted in advance and must have completed, but not submitted, a Large Generator Interconnection Procedures (

  17. Slide 17: Best Value Employment Metrics Rubric

    12/29/2022 QUESTIONS © 2022 Xcel Energy 33 Best Value Employment Metrics Rubric Bidders Conference December 20, 2022 Business Research Division University of Colorado Boulder December 20, 2022 34 17

  18. Slide 18: Introductions; Methodology: General Rubric Design

    12/29/2022 Brian Lewandowski Introductions Executive Director, Leeds Business Research Division School of Business Boulder Sarah Quintanar Senior Labor Economist Adam Illig Data Scientist Richard L. Wobbekind Associate Dean, Business & Government Relations Senior Economist 35 Methodology: General Ru

  19. Slide 19: BVEM & Rubric Metrics

    12/29/2022 BVEM & Rubric Metrics BVEM, or Best Value Employment Metrics- Since 2010 statute has required employment metrics to be a consideration when the CO Public Utilities Commission evaluates and approves utilities’ electric resource acquisition projects Rubric Purpose: Employing a consistent an

  20. Slide 20: Rubric Concept Flow

    12/29/2022 Rubric Concept Flow Level 1 Overall: Training Programs Level 2 Craft 1: Craft 2: Craft 3: Training Training Training Job Classification 1: Job Classification 2: Job Classification 2: Job Classification 2: Job Classification 2: Job Classification 2: Level 3 Training Training Training Train

  21. Slide 21: Wage and Benefits Example Scoring Rubric

    12/29/2022 Wage and Benefits Example 41 Scoring Rubric 42 21

  22. Slide 22: BVEM Q&A

    12/29/2022 BVEM Q&A 43 FINAL QUESTIONS  Thank you  https://www.XcelEnergy.com/PSCo2022AllSource  [email protected] © 2022 Xcel Energy 44 22

  23. Slide 23: Appendix

    12/29/2022 © 2022 Xcel Energy 45 45 APPENDIX © 2022 Xcel Energy 46 23

  24. Slide 24: All-Source Solicitation Timeline; Acronyms

    12/29/2022 All-Source Solicitation Timeline © 2022 Xcel Energy 47 47 BESS Battery Energy Storage System BOT Build Own Transfer Acronyms BVEM Best Value Employment Metrics COD Commercial Operation Date CPP Colorado Power Pathway CT Gas Combustion Turbine DI Disproportionally Impacted Communities ERP

Xcel Energy — PSCo 2022 All-Source RFP Bidder's Conference on 6ix