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About XCEL Energy Inc.

Xcel Energy is a utility holding company distributing electricity to 3.7 million customers and natural gas to 2.1 million customers in eight states through its four regulated utilities: Northern States Power Minnesota, Northern States Power Wisconsin, the Public Service Company of Colorado, and Southwestern Public Service. Colorado and Minnesota account for most of the company's customers. Xcel owns power plants that have combined capacity of more than 18,700 MW of electricity. It also owns transmission and distribution lines as well as natural gas assets. It is investing in wind power and operates wind farms in Colorado, Minnesota, and other states. The company traces its roots back to 1881.


Xcel Energy's reportable segments are Regulated Electric Utility, Regulated Gas Utility, and Other.

Regulated Electric is the largest segment, producing about 85% of total revenue through the generation, purchase, transmission, and distribution of electricity. Regulated Natural Gas transports, stores, and distributes natural gas to generate most of the remaining revenue.

The two power segments achieve their objectives through several subsidiaries: Northern States Power Minnesota (NSP-M), Northern States Power Wisconsin (NSP-W), the Public Service Company of Colorado (PSCo), and Southwestern Public Service (SPS).

Xcel owns and operates roughly 18,700 MW of electric generating capacity and purchases additional power from third parties through long-term power purchase agreements. Generally, Xcel's power plants produce about two-thirds of its needs and the company purchases the other third. Of its generated electricity, a third comes from coal, another third comes from natural gas, about 15% comes from nuclear, and the rest is generated from wind, hydroelectric, and other sources.

The Regulated Natural Gas segment purchases the natural gas from producers and contracts with transmission pipeline companies to move it to Xcel's distributions facilities. From there the company sends natural gas to customers.

Xcel's Other segment generates about 1% of the company's revenue and includes steam revenue, appliance repair services, and non-utility real estate activities.

Geographic Reach

Minneapolis, Minnesota-based Xcel Energy serves eight mid-western and western states, including portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. Its Northern States Power Minnesota serves customers in North and South Dakota and in Minnesota. Northern States Power Wisconsin delivers energy to customers in Wisconsin and Michigan. Public Service Company of Colorado provides energy to customers throughout the state, while Southwestern Public Service Company serves in New Mexico and Texas.

Sales and Marketing

Xcel Energy's major commercial and industrial electric sales are to customers in the petroleum, coal, and food products industries. The company also serves small commercial and industrial customers. Commercial and industrial customers account for more than 30% of the company's total revenue.

Residential customers account for about 60% of Xcel's revenue.


Financial Performance

As is true with electric service companies, Xcel Energy's revenue has remained essentially unchanged over the past five years.

In 2019, revenue fell by $8 million to $11.5 billion, due to decrease in electric segment, partially offset by natural gas segment.

Net income in 2019 rose to $1.4 billion, up $111 million from the previous year. While operating expenses were lower in 2019, the company paid less in income taxes than it did in the previous period, which resulted in the modest bottom line increase.

Cash at the end of the year was $248 million, up $101 million from the previous period. Operating activities provided $3.3 billion, investing activities (mostly capital expenditures) used $4.3 billion, and financing activities provided $1.2 billion, largely through issuance of additional debt.


Through Xcel's strategic planning process, the board of directors and executive leadership team identified three strategic priorities that represent the keys to the company's continued success in achieving its vision to be the preferred and trusted provider of the energy customers need. These priorities include: leading the clean energy transition; enhancing the customer experience; and keeping bills low.


Company Background

The Minnesota Electric Light & Electric Motive Power Company was founded in 1881 and changed its name to Minnesota Brush Electric the next year. In the 1890s it provided street lighting and power for trolleys and became Minneapolis General Electric.

In 1909 Henry Byllesby formed rival firm Washington County Light and Power Co. (soon renamed Consumers Power Company), then created holding company Northern States Power Company of Delaware (NSPD). In 1910 he founded Standard Gas and Electric, a holding company overseeing NSPD and many other US utilities. 

The company took on its most recent incarnation as Xcel Energy in August 2000, following the merger of Northern States Power Company and New Century Energies, Inc. 

XCEL Energy Inc.

414 Nicollet Mall
Minneapolis, MN 55401-1993
Phone: 1 (612) 330-5500

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: XEL
Stock Exchange: , NASDAQ
Chairman, President, and CEO: Benjamin G. S. Fowke
EVP and CFO: Robert C. Frenzel
EVP and Group President, Operations: Kent T. Larson
Employees (This Location): 15
Employees (All Locations): 11,317

Major Office Locations

Minneapolis, MN

Other Locations

Orangevale, CA
Alamosa, CO
Arvada, CO
Aurora, CO
Boulder, CO
Brush, CO
Colorado Springs, CO
Denver, CO
Durango, CO
Glenwood Springs, CO
Golden, CO
Grand Junction, CO
Greeley, CO
Hayden, CO
Henderson, CO
Ignacio, CO
Lakewood, CO
Loveland, CO
Pueblo, CO
Rifle, CO
Silverthorne, CO
Wiggins, CO
Covert, MI
Albany, MN
Bayport, MN
Becker, MN
Brainerd, MN
Burnsville, MN
Cannon Falls, MN
Dodge Center, MN
Elk River, MN
Excelsior, MN
Inver Grove Heights, MN
Mankato, MN
Maple Grove, MN
Minneapolis, MN
Montevideo, MN
Monticello, MN
Newport, MN
New Richland, MN
Red Wing, MN
Saint Paul, MN
Shakopee, MN
Welch, MN
Winona, MN
Zumbrota, MN
Grand Forks, ND
Clovis, NM
Hobbs, NM
Roswell, NM
Canistota, SD
Elkton, SD
Salem, SD
Sioux Falls, SD
Amarillo, TX
Austin, TX
Dumas, TX
Earth, TX
Hereford, TX
Lubbock, TX
Plainview, TX
Abbotsford, WI
Amery, WI
Ladysmith, WI
Madison, WI
Menomonie, WI
Rice Lake, WI
Saint Croix Falls, WI
Sparta, WI
Cheyenne, WY