Utility Industry Growth — Xcel Energy intends to focus on growing through investments in electric and natural gas rate base to meet growing customer demands and to maintain or increase reliability and quality of service to customers. Xcel Energy has and plans to continue to file rate cases with state and federal regulators to earn a return on its investments and recover costs of operations. For more information regarding Xcel Energy’s capital expenditures, see Note 14 to the Consolidated Financial Statements.