This document summarizes Deutsche Bank's Electric Power Conference held on June 14-15, 2005. It outlines Xcel Energy's capital expenditure plan of $6.9 billion from 2005-2009, which focuses on building core utility assets. This includes investments in generation, transmission, nuclear fuel, and other areas. The plan aims to earn the allowed return on equity while being prudent, supported by regulators and legislation, and adding to earnings growth. Forecasts are provided for capital expenditures and rate base growth by operating company. The sources of funding for this plan include cash from operations, asset sales, debt issuance, and dividend reinvestment, with no expected need for equity through 2006.