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Outside recognition indicates that we are meeting our corporate objectives. In 2011, Xcel Energy was named to the Dow Jones Sustainability Index (DJSI) for North America. Companies listed on the DJSI are considered to be best in class in economic, environmental and social performance. 

We also were pleased when Trust Across America, an organization dedicated to understanding the complexities of trustworthy business behavior, placed us on its list of the Top 10 most trustworthy companies in America. Xcel Energy was No. 2 on the list. 

## Looking to the future 

As you can see, Xcel Energy is well positioned to meet its challenges and deliver on its promises. We are modernizing our infrastructure and ensuring reliability at a competitive price for customers. We are ahead of many environmental regulations, giving us the flexibility to adopt environmental initiatives that work for our customers. We are working with regulators and legislators to ensure a regulatory and public policy compact that is fair to customers and shareholders. And we are keeping our balance sheet strong so we can invest in our system and continue to deliver clean, safe, reliable energy at a reasonable cost. 

My goal, reflected in some of my first actions as chairman, president and CEO, is to drive the operational excellence model that we’ve already established throughout the company with standardization and process improvements. To help me meet my objectives, I rely on an outstanding executive leadership team that is equally committed to keeping Xcel Energy the best in the nation. 

I also rely on the rest of our Xcel Energy employees, who work hard every day to serve customers, volunteer in their communities and are proud to be part of a thriving company and vital industry. They, too, are the best. All of our efforts build on our significant success, and are designed to create value for you. 

Finally, we were fortunate to have the leadership of former Chairman and CEO Dick Kelly, who retired in August after 43 years in the energy business. He was instrumental in positioning Xcel Energy for success. We wish him all the best in his retirement. 

Thank you for your continued support and trust in us. 

Sincerely, 

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We invite you to view Energized , a DVD that features Xcel Energy employees who are committed to operational excellence, their customers, their communities and environmental leadership. The DVD also includes profiles of Chairman, President and CEO Ben Fowke and Senior Vice President and Chief Financial Officer Teresa Madden. 

