Public Service Company Of New Mexico · OTC:PNMXO
Public Service Company Of New Mexico — Investor Presentation (February 2008)
20 slides from Public Service Company Of New Mexico's investor presentation, Feb 22, 2008
Slide 1: Electric Integrated Resource Plan
Electric Integrated Resource Plan Ninth Public Involvement Meeting February 22, 2008 PNM Alvarado Square 1
Slide 2: Welcome & Introductions
Welcome & Introductions Evelin Wheeler Director, Integrated Resource Planning 2
Slide 3: Energy Efficiency
Energy Efficiency Gerard Ortiz Director, Market Services 3
Slide 4: Background
Background • Proposed Base and Advanced Cases at January 31 Meeting • Engaged in a robust discussion • Focus is on avoided cost assumptions embedded in ITRON study 4
Slide 5: Impact of Base and Advanced Efficiency Targets (% of Retail Sales)
Impact of Base and Advanced Efficiency Targets as Percent of 2005 Retail Sales (GWH) 12% 10% 8% 6% 4% 2% 0% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Approved EE Base Case EE Advanced Case EE Max. Achiev. Case EE 5
Slide 6: Impact of Base and Advanced Efficiency Targets (% of Load Forecast)
Impact of Base and Advanced Efficiency Targets as Percent of Load Forecast (MW) 12% 10% 8% 6% 4% 2% 0% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Approved EE Base Case EE Advanced Case EE Max. Achiev. Case EE 6
Slide 7: Avoided Costs
Avoided Costs • Will request a revised Advanced Case from ITRON • Revision based on new avoided costs • Will model existing cases now and will incorporate revised advanced ASAP • Need a discussion on avoided costs 7
Slide 8: Discussion
Discussion Frank Stern Facilitator Principal, Summit Blue Consulting 8
Slide 9: Break
Break pall AS) A personal commitment to New Mexi
Slide 10: Coal Costs
Coal Costs Frank Stern Principal, Summit Blue Consulting 10
Slide 11: Background
Background • Compared PNM’s EPRI-derived numbers to CCAE’s proposed NETL • Created 30 year levelized costs using PNM’s financial assumptions 11
Slide 12: Proposal: Coal Levelized Cost Comparison
Proposal Coal Levelized Cost Comparison (cents/kWh) PC IGCC PC + CCS IGCC + CCS PNM/EPRI 7.1 9.6 10.9 12.5 NETL 6.2 10.3 11.0 12.5 • Numbers compare well • Use the PNM/EPRI numbers for consistency with natural gas options 12
Slide 13: Nuclear Costs
Nuclear Costs Frank Stern Principal, Summit Blue Consulting 13
Slide 14: Background: Nuclear Levelized Cost Comparison
Background • Compared PNM’s EPRI-derived numbers to numbers in CCAE’s proposed Jim Harding article from November 2007 issue of Electricity Journal • Created 30 year levelized costs using PNM’s financial assumptions Nuclear Levelized Cost Comparison (cents/kWh) PNM/EPRI Harding Harding Low Case High
Slide 15: Proposal
Proposal • Numbers do not compare well • PNM is unable to replicate the numbers in the Harding article • There is uncertainty in nuclear cost numbers • Use the PNM/EPRI numbers for consistency • If nuclear option is selected in a top portfolio, re-run the scenario using the high estimate from Hardin
Slide 16: Thermal Solar Costs
Thermal Solar Costs Greg Nelson Director, Advanced Generation Development 16
Slide 17: Background
Background • PNM proposing to use costs from recent study • Several proposals from PA group for alternate costs 17
Slide 18: Proposal
Proposal • PNM’s CSP study is best estimate of existing costs • $0.15/kWh starting when? • Include alternate cost for future installations as a sensitivity • Need discussion of future generic solar resource 18
Slide 19: Wrap-Up
Wrap-Up Pat O’Connell Project Manager, Integrated Resource Planning 19
Slide 20: Next Steps
Next Steps • Part 1 Draft of Report • Modeling begins in earnest • Portfolios to Review 20
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