**Exhibit 99.01**

 

**Public Service Company of Colorado Cautionary Factors**

 

The Private SecuritiesLitigation Reform Act provides a “safe harbor” for forward-looking statementsto encourage disclosures without the threat of litigation, providing thosestatements are identified as forward-looking and are accompanied by meaningful,cautionary statements identifying important factors that could cause the actualresults to differ materially from those projected in the statement.  Forward-looking statements are made inwritten documents and oral presentations of PSCo, Xcel Energy or any of itsother subsidiaries.  These statements arebased on management’s beliefs as well as assumptions and information currentlyavailable to management.  Suchforward-looking statements are intended to be identified in this document bythe words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “objective,”“outlook,” “plan,” “project,” “possible,” “potential,” “should” and similarexpressions.  In addition to anyassumptions and other factors referred to specifically in connection with suchforward-looking statements, factors that could cause PSCo’s actual results todiffer materially from those contemplated in any forward-looking statementsinclude, among others, the following:

 

·                     Economicconditions, including inflation rates, monetary fluctuations and their impacton capital expenditures;

·                     The risk of asignificant slowdown in growth or decline in the U. S. economy, the risk ofdelay in growth recovery in the U. S. economy or the risk of increased cost forinsurance premiums, security and other items as a consequence of past or futureterrorist attacks;

·                     Trade,monetary, fiscal, taxation and environmental policies of governments, agenciesand similar organizations in geographic areas where PSCo has a financialinterest;

·                     Customerbusiness conditions, including demand for their products or services and supplyof labor and materials used in creating their products and services;

·                     Financial orregulatory accounting principles or policies imposed by the FASB, the SEC, theFERC and similar entities with regulatory oversight;

·                     Availability orcost of capital such as changes in: interest rates; market perceptions of theutility industry, PSCo, Xcel Energy or any of its other subsidiaries; orsecurity ratings;

·                     Factorsaffecting utility operations such as unusual weather conditions; catastrophicweather-related damage; unscheduled generation outages, maintenance or repairs;unanticipated changes to fossil fuel or natural gas supply costs oravailability due to higher demand, shortages, transportation problems or otherdevelopments; environmental incidents; or electric transmission or natural gaspipeline constraints;

·                     Employeeworkforce factors, including loss or retirement of key executives, collectivebargaining agreements with union employees, or work stoppages;

·                     Increasedcompetition in the utility industry or additional competition in the marketsserved by Xcel Energy and its subsidiaries;

·                     State, federaland foreign legislative and regulatory initiatives that affect cost andinvestment recovery, have an impact on rate structures and affect the speed anddegree to which competition enters the electric and natural gas markets;industry restructuring initiatives; transmission system operation and/oradministration initiatives; recovery of investments made under traditionalregulation; nature of competitors entering the industry; retail wheeling; a newpricing structure; and former customers entering the generation market;

·                     Environmentallaws and regulations, including legislation and regulations relating to climatechange, and the associated cost of compliance;

·                     Rate-settingpolicies or procedures of regulatory entities, including environmentalexternalities, which are values established by regulators assigningenvironmental costs to each method of electricity generation when evaluatinggeneration resource options;

·                     Socialattitudes regarding the utility and power industries;

·                     Cost and othereffects of legal and administrative proceedings, settlements, investigationsand claims;

·                     Technologicaldevelopments that result in competitive disadvantages and create the potentialfor impairment of existing assets;

·                     Risksassociated with implementations of new technologies; and

·                     Other businessor investment considerations that may be disclosed from time to time in PSCo’sSEC filings, including “Risk Factors” in Item 1A of PSCo’s form 10-K forthe year ended Dec. 31, 2009, or in other publicly disseminated writtendocuments.

 

PSCo undertakes noobligation to publicly update or revise any forward-looking statements, whetheras a result of new information, future events or otherwise.  The foregoing review of factors should not beconstrued as exhaustive.

 

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