Black Hills Corporation (BKH) 2011年年度报告「NYSE」.pdf

1、2011 Annual ReportProxy StatementForm 10KDear Shareholders,For 128 years,our customers,employees,shareholders and communities have relied on us to improve their lives with energy.In 2011,our employee team did just that whether we were delivering natural gas to heat a cup of coffee in the morning,pro

2、viding construction jobs for workers building our power plants,or paying dividends to our shareholders.We overcame a rough start in 2011,ending the year with a 4 percent increase in annual adjusted earnings compared to 2010.The year definitely finished on a high note as we completed the largest cons

3、truction project in company history.The two natural-gas-fired power plants in Pueblo,Colo.,that generate 380 megawatts of electricity started serving our 94,000 Colorado Electric utility customers on Jan.1,2012.We completed the project at an exceptional pace,on budget and with a safety incident rate

4、 nearly 75 percent below industry average.In their first full month of operation,the two plants were available 99.7 percent and 99.8 percent of the time,respectively,reflecting the quality of our generation construction and operations teams.We are also pleased with the results of the related rate ca

5、se in Colorado,which provides an adequate return on our$491 million of investments in this project.During the year,we announced and advanced several additional utility growth projects that require investments of more than$300 million during 2012 to 2014.To meet a portion of the requirements for Colo

6、rados renewable energy standards,we received approval to build a 29-megawatt wind project and started construction near Pueblo,Colo.To connect renewable energy to our distribution system in Colorado,we began building the 36-mile Southern Connector transmission line.Increasing demand in the Cheyenne,