Xcel Energy Inc. · NASDAQ:XEL

Xcel Energy — Corporate Update (September 2021)

61 slides from Xcel Energy's corporate update, Sep 29, 2021

1. Slide 1: 2021-2023 Transportation Electrification Plan Quarterly Stakeholder Meeting

   Public Service Company of Colorado (PSCo) 2021-2023 Transportation Electrification Plan (TEP) Quarterly Stakeholder Meeting September 29, 2021

2. Slide 2: Agenda

   AGENDA 1.TEP Program Development, Updates, & Timelines 2. Discussion Topics • Partnerships, Research, & Innovation (PRI) Project Updates • New S-EV Rate (October 15th filing) 3. 60/90 Day Notices 4. Wrap Up © 2021 Xcel Energy 2

3. Slide 3: TEP Program Development, Updates, & Timelines

   1. TEP PROGRAM DEVELOPMENT, UPDATES, & TIMELINES Equity Programs, Residential Portfolio, MFH Portfolio, Commercial Portfolio, Advisory Services, Partnerships/Research/Innovation © 2021 Xcel Energy 3

4. Slide 4: Residential TEP Program Support

   Residential TEP Program Support • Printed materials for home charging programs and rebates • Promoting programs with paid advertising and owned channel support (email, social) • Spanish web pages in development © 2021 Xcel Energy 4

5. Slide 5: Residential TEP Income Qualified Program Support

   Residential TEP Income Qualified Program Support • Materials for rebates and home charging programs o Printed collateral in English & Spanish o EV Rebate explainer for Xcel Energy dealer network to give rebate instantly • Web pages with helpful FAQs for Income Qualified customers, Spanish versions i

6. Slide 6: Events: Denver Auto Show

   Events: Denver Auto Show • Our EV Garage was busy throughout the show, with EV experts answering customers’ questions about EVs and charging at home • Over 2,000 total ride & drives provided in 3 days with over 3,400 zero-emission miles driven • Partnerships increased our success: − A range of BEVs

7. Slide 7: Advisory Services - Dealer Network

   Advisory Services - Dealer Network • Expanding our Network of EV Dealers across service area​ o 20+ Dealers in CO, with focus on growth outside metro area o All sell new and pre-owned EVs​ o Network dealers can provide EV Rebate instantly during purchase/lease • Xcel Energy offering services that di

8. Slide 8: Residential Home Charging Programs

   Residential Home Charging Programs EV Accelerate at Home (EVAAH) • Electrician RFP is no longer accepting bids o 2 primary electricians contracted to serve the Denver Metro area; 1 secondary electrician contracted for contingency o Plans to add 2-4 additional shops across Colorado service territory

9. Slide 9: Residential Optimization

   Residential Optimization Optimize Your Charge (static optimization) • Program live in CO o Customers get $50 annual bill credit for charging during one of Xcel Energy's three off-peak windows o Current participation via two eligible Level 2 chargers (ChargePoint & Enel X) with capability to transmit

10. Slide 10: EV Rebate for Income Qualified Customers

    EV Rebate for Income Qualified Customers • Live in CO • Income-qualified customers get $3,000 off a pre-owned EV and $5,500 off a new EV; maximum MSRP or sale price is $50,000 • Customers can become pre-qualified and get instant rebate at dealer in our network, or can apply for the rebate after they

11. Slide 11: Advisory Services – Residential

    Advisory Services – Residential Residential Advisory Program Spend: March - Sept 1, 2021 Digital Tools & Website $ 71,700 Event Assets + Sponsorships $ 254,588 Advertising $ 291,891 Research $ 18,750 Agency Strategy $ 67,377 Dealership Engagement $ 250,000 Total $ 954,306 © 2021 Xcel Energy 11

12. Slide 12: Multi-Family Housing (MFH) TEP Programs

    Multi-Family Housing (MFH) TEP Programs EV Supply Infrastructure (EVSI) • Application window opened 9/9 and closing soon • Shared Parking • Assigned Parking • Optional Level 2 charging stations Rebates • Rolling application window opened 9/9 • New Construction Rebate • Income-Qualified and Higher Em

13. Slide 13: Commercial TEP Programs

    Commercial TEP Programs EV Supply Infrastructure (EVSI) • Application window opened 9/9 and closing soon o Fleet and Workplace EVSI o Public EVSI o Community Charging Hubs EVSI Rebates • Rolling application window opened 9/9 o Fleet and Workplace IQ and HEC Rebate o Community Charging Hubs IQ and HE

14. Slide 14: Xcel Energy Owned DCFC

    Xcel Energy Owned DCFC • August stakeholder meetings held to identify siting metrics • Upcoming RFP to select vendor to conduct siting analysis to identify ~24 geographic locations for connector and market stations • RFP to select equipment and software in process • Accept and evaluate applications

15. Slide 15: Advisory Services – Fleet Electrification

    Advisory Services – Fleet Electrification Fleet Electrification Advisory Program • Launched in April • Held 4 webinars across the territory • Continuous account management outreach • Intakes are occurring now • 21 fleets have submitted intake forms • Expect 19 to complete assessments in 2021 • Goal

16. Slide 16: Advisory Services – Communities

    Advisory Services – Communities Standard Community EV Planning • Community level EV Planning through Xcel Energy’s Partners in Energy program • EV plan development at no cost to the community • Regional Cohort planning workshops launched with Boulder County (Aug 2021) • Two plans-initiated YTD • Thr

17. Slide 17: Discussion Topics

    2. DISCUSSION TOPICS Deep dive conversations with Stakeholder Q&A © 2021 Xcel Energy 17

18. Slide 18: Partnerships, Research, & Innovation (PRI)

    PARTNERSHIPS, RESEARCH, & INNOVATION (PRI) Project Updates © 2021 Xcel Energy 18

19. Slide 19: PRI Background

    PRI Background Partnerships, Research, Innovation 1 2 3 4 5 Lower system Gain new Make EV costs & Promote, Insights & Charging Increase EV Stimulate Accelerate, Equity Easy charging Deploy Innovation benefits • Easy access • Minimize system • Gain new insights • Find gaps / needs • Promote equity fo

20. Slide 20: PRI Stakeholder Engagement

    PRI Stakeholder Engagement Ongoing Discussions with What we’re doing / discussing (current in process examples, but not limited to) Non-Profits Capture ideas, insights, • Western Resource Advocates (WRA) and feedback • Southwest Energy Efficiency Project (SWEEP) • Grid Alternatives • National Resour

21. Slide 21: PRI Project Portfolio

    PRI Project Portfolio 9 Potential Projects – (9/29 Current Snapshot) Spend Range $M Project Name $525k - $3.7M Municipal Refuse / Waste Fleet Electrification $400k - $1.2M DC Fast Charging (DCFC) + Storage $ 1M - $1.8M Residential Equipment Study & Managed Charging Pilot $200K - $700k Vehicle to Bui

22. Slide 22: Municipal Refuse / Waste Fleet Electrification

    Project OVERVIEW Municipal Refuse / Waste Fleet Electrification Outcomes / Partners / Scope / Equity Procure 1-5 electric refuse vehicles for short-term demonstrations with various municipal and private refuse fleets throughout Xcel Energy’s service territory. 1. Outcomes: Accelerating early interes

23. Slide 23: DCFC + Storage

    Project OVERVIEW DCFC + Storage Outcomes / Partners / Scope / Equity Lower barriers to both public and fleet fast charging by providing technology solutions, paired with rate design, to <PLACE A PICTURE / GRAPHIC, RELEVANT lower customer demand charges and alleviate grid constraints 1. Outcomes: Adv

24. Slide 24: Residential Equipment Study & Managed Charging Pilot

    Project OVERVIEW Residential Equipment Study & Managed Charging Pilot Outcomes / Partners / Scope / Equity 1. Outcomes: Understand impacts of EV home charging; validate and model impacts on service transformers; analyze diverse grid locations and configurations to determine ‘risk factors; finalize/d

25. Slide 25: Vehicle to Building (V2B) Feasibility Study & Demonstration

    Project OVERVIEW Vehicle to Building (V2B) Feasibility Study & Demonstration Outcomes / Partners / Scope / Equity Bi-directional charging or vehicle-to-building (V2B) technologies present an opportunity for EVs to be used as back-up power sources in emergency situations. Target markets includes at-r

26. Slide 26: L2 Public Charging Leveraging Common Area Lighting

    Project OVERVIEW L2 Public Charging Leveraging Common Area lighting Outcomes / Partners / Scope / Equity Provide greater accessibility to charging options by partnering with local retailers and leveraging existing area lighting. Increase affordability by billing at user’s residential rate on their h

27. Slide 27: Affordable Car Sharing for IQ / Rural Communities

    Project OVERVIEW Electrify & Expand Access to Affordable Car Sharing for IQ / Rural Communities Outcomes / Partners / Scope / Equity Electrify & Expand access to affordable ride/car sharing services in Income Qualified (IQ) and/or Rural Communities to promote equitable benefits of electric transport

28. Slide 28: Electrify Paratransit Mobility Services

    Project OVERVIEW Electrify Paratransit Mobility Services and Expand ET Benefits Outcomes / Partners / Scope / Equity Electrify Paratransit Mobility Services to expand electric transportation (ET) benefits for those with Disabilities / IQ 1. Outcomes: (a) Electrify / expand electrification of paratra

29. Slide 29: Middle, High School, Vocational ET Education

    Project OVERVIEW Middle, High School, and/or Vocational School Education / Training focused on ET Outcomes / Partners / Scope / Equity Develop curriculums for Middle / High School Students to learn about the benefits of EVs/ET / Carbon Reduction; and/or Vocational Training Programs that lead to ener

30. Slide 30: X-Prize-like Concept for EVs/ET Equity

    Project OVERVIEW “*X-Prize-like” concept for EVs/ET, focused on Equity Outcomes / Partners / Scope / Equity Award an “X-Prize-like” grant, and provide resource support for the advancement of a project that focuses on ET Equity | Innovation Promote innovative 3rd party pilot projects 1. Outcomes: Tea

31. Slide 31: PRI Portfolio Next Steps

    PRI Portfolio Next Steps • Continued stakeholder engagement and feedback (October 2021) • 60 Day Notices issued for selected projects (Late October 2021) • Discuss any additional PRI project ideas (Q4 2021 & next quarterly stakeholder meeting in December 2021) © 2021 Xcel Energy 31

32. Slide 32: S-EV 2.0 Rate

    S-EV 2.0 RATE Updates © 2021 Xcel Energy 32

33. Slide 33: S-EV 2.0 Timeline

    S-EV 2.0 Timeline October 15th, 2021 2019 Settlement Agreement • Company will make a Future Advice Letter filing with the Commission with two optional rate schedules. The objective of filing two rate schedules is to support both public and fleet charging and support the intent of Senate Bill 19-077

34. Slide 34: Commercial EV Charging Options

    S-EV 2.0 Commercial EV Charging Options Rename current S-EV schedule to "S-EV-CPP" • Retain basic structure of current rate • Slightly modify On-Peak period – Shorten 1 hour to 1:00 PM to 9:00 PM • Align critical peak pricing definition with definition used in other CPP rates approved by the Commiss

35. Slide 35: Cost Allocation

    S-EV 2.0 Cost Allocation • Cost allocation based on 2020 Phase II, Proceeding 20AL-0432E & 2020-2021 load shapes from S-EV Step 1 – Develop Average Costs Rates Step 2 – Apply Those Costs to EV Loads © 2021 Xcel Energy 35

36. Slide 36: Cost Allocation Results

    S-EV 2.0 Cost Allocation Results • 36 percent lower overall rates • 56 percent lower demand charge • Forecasted bill savings range from 34 to 44 percent • Why? - Contribution to summer coincident peak (4CP) is substantially lower than other C&I customers © 2021 Xcel Energy 36

37. Slide 37: Average Monthly Bill Comparison

    S-EV 2.0 Average Monthly Bill Comparison Current New S-EV Change Change S-EV S-EV-CPP (no CPP) S&F $37.90 $37.90 $0.00 0% $37.90 $0.00 0% Distribution Demand $1,530 $679 ($851) -56% $679 ($851) -56% TOU Energy Charges $1,131 $592 ($538) -48% $1,042 ($88) -8% CPP $449 $449 $0 0% $0 ($449) -100% Rider

38. Slide 38: 60/90 Day Notices

    3. 60/90 DAY NOTICES Process, Schedule, Upcoming Notices © 2021 Xcel Energy 38

39. Slide 39: 60/90 Day Notices

    60/90 Day Notices Process​ • Proposal: Notices will be filed in the month following each quarterly stakeholder meeting o i.e., January, April, July, October Pending/Upcoming notices • Partnership, Research, Innovation projects (as discussed previously) • Any new requests to receive a Higher Emission

40. Slide 40: Higher Emissions Communities

    Higher Emissions Communities Higher Emissions Communities (HEC) have been identified consistent with the process described in 60-day notice Opportunity remains to apply for additional locations/projects to receive HEC designations: 1. PSCo to review any new HEC designation applications after Commerc

41. Slide 41: Higher Emissions Communities

    Higher Emissions Communities Process for Reviewing Applications for New HEC Designations Reference: Higher Emissions Communities 60-Day Notice 41 ©2021 Xcel Energy

42. Slide 42: Higher Emissions Communities

    Higher Emissions Communities For more information, visit Program Portfolio pages (Customers can select their portfolio here) © 2021 Xcel Energy 42

43. Slide 43: 60/90 Day Notices: School Buses

    60/90 Day Notices: School Buses • Provide funds directly to school districts to be Funds Available $2,200,000 used for fleet electrification Rebate per Bus $275,000 o No requirement to destroy a diesel bus Buses Funded 8 • Funds to cover bus, charging equipment and infrastructure costs o 75% of Tota

44. Slide 44: 60/90 Day Notices: Small Commercial Program

    60/90 Day Notices: Small Commercial Program • No stakeholder comments received on the proposed design • Moving forward with program planning and implementation • Preparing to launch the program in October Summary of Small Commercial Program Design Number of Market-Rate Rebate Income-Qualified Rebate

45. Slide 45: Wrap Up

    4. WRAP UP Next meeting in December © 2021 Xcel Energy 45

46. Slide 46: Xcel Energy Electric Transportation Organization

    Xcel Energy Electric Transportation Organization Strategic Partnerships and Ventures/Electric Transportation – Nadia El Mallakh, Area Vice President (housed within the Customer and Innovation Organization, supporting all of Xcel Energy’s 8-state service areas) Residential Management Infrastructure M

47. Slide 47: How to Reach Out with EV Questions

    How to Reach Out with EV Questions • Residential Program Questions: • Rebates: email us at EVrebates@xcelenergy.com • EV Accelerate At Home: email us at ElectricVehicles@xcelenergy.com • Speak to a member of the EV Concierge Team by calling 1-800-895-4999 • Commercial and MFH Infrastructure Program

48. Slide 48: How to Reach Out with EV Questions (cont.)

    How to Reach Out with EV Questions (cont.) • General Inquiries: • Email us at ElectricVehicles@xcelenergy.com • Speak to a member of the EV Concierge Team by calling 1-800-895-4999 • Stakeholder Group: • To join stakeholder list, email Patrick Murphy at Patrick.J.Murphy@xcelenergy.com © 2021 Xcel En

49. Slide 49: Upcoming EV-Related PUC Filings

    Upcoming EV-Related PUC Filings • October 1: First semiannual report on TEP programs • October 1: 2022 TEPA Rider • October 15: New S-EV rate, DCFC rate at PSCo stations, Performance Incentive Mechanism (PIM) © 2021 Xcel Energy 49

50. Slide 50: Additional Contact Information

    Additional Contact Information Jack Ihle Steve Wishart Xcel Energy Xcel Energy Director, Regulatory and Strategic Analysis Director, Pricing and Planning Jack.Ihle@xcelenergy.com Steven.W.Wishart@xcelenergy.com Jason Peuquet Deb Erwin Xcel Energy Xcel Energy Principal Consultant, Electric Transporta

51. Slide 51: Appendix

    Appendix © 2021 Xcel Energy 51

52. Slide 52: Goals of TEP Stakeholder Group and Quarterly Meetings

    Goals of TEP Stakeholder Group and Quarterly Meetings Quarterly schedule – Q1(Mar.), Q2 (June), Q3 (Sept.), Q4 (Dec.) Process Goals Xcel Energy will provide a brief PowerPoint Quarterly meetings are intended to: overview of TEP implementation covering: • Foster discussion about programs in-market. •

53. Slide 53: Budgets for TEP Portfolios

    © 2021 Xcel Energy Budgets, including capital, rebates, and O&M expense, for TEP portfolios Portfolio Spending Type 2021 Total Capital $1,808,000 $8,256,000 Rebates $1,865,000 $7,940,000 Residential O&M Expenses $461,000 $2,003,000 Total $4,134,000 $18,198,000 Capital $1,348,000 $6,450,000 Rebates $

54. Slide 54: EV Education/Awareness Ads

    EV Education/Awareness Ads Xcel Energy – EV Multiply :15 Digital Ad © 2021 Xcel Energy 54

55. Slide 55: EV Education/Awareness Ads

    EV Education/Awareness Ads Xcel Energy – EV Question :15 Digital Ad © 2021 Xcel Energy 55

56. Slide 56: Program Promotion Ads

    Program Promotion Ads Xcel Energy - EV Ideal :15 Digital Ad © 2021 Xcel Energy 56

57. Slide 57: Program Promotion Ads

    Program Promotion Ads Xcel Energy - EV Save More :15 Digital Ad © 2021 Xcel Energy 57

58. Slide 58: Program Promotion Ads: Banner Ads

    Program Promotion Ads Banner Ads © 2021 Xcel Energy 58

59. Slide 59: Dealership Network Marketing

    Dealership Network Marketing Signage and Tools to Demystify Charging, right in dealer showrooms © 2021 Xcel Energy 59

60. Slide 60: Quick Break

    Quick Break Returning at 11:24am MT © 2021 Xcel Energy 60

61. Slide 61: © 2021 Xcel Energy

    © 2021 Xcel Energy 61

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