Xcel Energy Inc. (NYSE:XEL) Q4 2017 Earnings Conference Call - Final Transcript
Feb 07, 2018 • 10:00 am ET
Robert C. Frenzel
of 17% to 18% over the five-year time period prior to any rating agency adjustments, and should be sufficient to maintain strong credit ratings.
With that, I'll wrap up. In summary, 2017 was another great year for Xcel Energy. We delivered ongoing earnings within or above our guidance range for the 13th consecutive year. We increased our dividend for the 14th straight year. We realized a 1% decrease in O&M expenses. We resolved several regulatory proceedings, including: a multi-year electric case in Minnesota; decoupling an advanced grid proposals in Colorado; and an electric and natural gas case in Wisconsin. We continued to execute on our Steel-for-Fuel strategy. We received regulatory approval for 1,550 megawatts of new wind in the Upper Midwest, proposed to build a 300-megawatt wind farm in South Dakota, and reached settlements in principle for the 1,230 megawatts of wind in Texas and New Mexico.
We reached a settlement with a diverse group of stakeholders on the Colorado Energy Plan, which proposes the addition of renewable projects and the retirement of two coal facilities. We are well-positioned to deliver on our 2018 ongoing earnings guidance range of $2.37 to $2.47 per share, our 5% to 6% earnings growth objective, and our 5% to 7% dividend growth objective.
This concludes our prepared remarks. Operator, we'll take any questions.
Benjamin G. S. Fowke
Operator, you there?