EXHIBIT 99.01

             UTILITY SUBSIDIARIES OF XCEL ENERGY CAUTIONARY FACTORS

The Private Securities Litigation Reform Act provides a "safe harbor" for
forward-looking statements to encourage such disclosures without the threat of
litigation, providing those statements are identified as forward-looking and are
accompanied by meaningful, cautionary statements identifying important factors
that could cause the actual results to differ materially from those projected in
the statement. Forward-looking statements are made in written documents and oral
presentations of the Utility Subsidiaries of Xcel Energy. These statements are
based on management's beliefs as well as assumptions and information currently
available to management. When used in the Utility Subsidiaries of Xcel Energy's
documents or oral presentations, the words "anticipate," "estimate," "expect,"
"projected," objective," "outlook," "forecast," "possible," "potential" and
similar expressions are intended to identify forward-looking statements. In
addition to any assumptions and other factors referred to specifically in
connection with such forward-looking statements, factors that could cause the
actual results of the Utility Subsidiaries of Xcel Energy to differ materially
from those contemplated in any forward-looking statements include, among others,
the following:

o    Economic conditions, including inflation rates and monetary fluctuations;

o    The risk of a significant slowdown in growth or decline in the U.S.
     economy, the risk of delay in growth recovery in the U.S. economy or the
     risk of increased cost for insurance premiums, security and other items as
     a consequence of the Sept. 11, 2001, terrorist attacks;

o    Trade, monetary, fiscal, taxation and environmental policies of
     governments, agencies and similar organizations in geographic areas where
     the Utility Subsidiaries of Xcel Energy have a financial interest;

o    Customer business conditions, including demand for their products or
     services and supply of labor and materials used in creating their products
     and services;

o    Financial or regulatory accounting principles or policies imposed by the
     Financial Accounting Standards Board, the SEC, the Federal Energy
     Regulatory Commission and similar entities with regulatory oversight;

o    Availability or cost of capital such as changes in: interest rates; market
     perceptions of the utility industry, Xcel Energy or any of its
     subsidiaries; or security ratings;

o    Factors affecting utility and nonutility operations such as unusual weather
     conditions; catastrophic weather-related damage; unscheduled generation
     outages, maintenance or repairs; unanticipated changes to fossil fuel,
     nuclear fuel or gas supply costs or availability due to higher demand,
     shortages, transportation problems or other developments; nuclear or
     environmental incidents; or electric transmission or gas pipeline
     constraints;

o    Employee workforce factors, including loss or retirement of key executives,
     collective bargaining agreements with union employees, or work stoppages;

o    Increased competition in the utility industry;

o    State, federal and foreign legislative and regulatory initiatives that
     affect cost and investment recovery, have an impact on rate structures and
     affect the speed and degree to which competition enters the electric and
     gas markets; industry restructuring initiatives; transmission system
     operation and/or administration initiatives; recovery of investments made
     under traditional regulation; nature of competitors entering the industry;
     retail wheeling; a new pricing structure; and former customers entering the
     generation market;

o    Rate-setting policies or procedures of regulatory entities, including
     environmental externalities, which are values established by regulators
     assigning environmental costs to each method of electricity generation when
     evaluating generation resource options;

o    Nuclear regulatory policies and procedures, including operating regulations
     and spent nuclear fuel storage;

o    Social attitudes regarding the utility and power industries;

o    Risks associated with the California and other western power markets;

o    Cost and other effects of legal and administrative proceedings,
     settlements, investigations and claims;

o    Technological developments that result in competitive disadvantages and
     create the potential for impairment of existing assets;

o    Factors associated with nonregulated investments, including conditions of
     final legal closing, foreign government actions, foreign economic and
     currency risks, political instability in foreign countries, partnership
     actions, competition, operating risks, dependence on certain suppliers and
     customers, domestic and foreign environmental and energy regulations; and

o    Other business or investment considerations that may be disclosed from time
     to time in the SEC filings of the Utility Subsidiaries of Xcel Energy or in
     other publicly disseminated written documents.

The Utility Subsidiaries of Xcel Energy undertake no obligation to publicly
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. The foregoing review of factors should
not be construed as exhaustive.