XCEL ENERGY INC (XEL)

Xcel Energy is a major U.S. regulated electric and natural gas delivery company headquartered in Minneapolis, Minnesota, incorporated in 1909, serving customers across portions of eight states—Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. The company provides a comprehensive portfolio of energy-related products and services to approximately 3.9 million electric customers and 2.2 million natural gas customers through four regulated utility subsidiaries: NSP-Minnesota (electric and gas), NSP-Wisconsin (electric and gas), PSCo (electric and gas), and SPS (electric only). Its regulated operations also include transmission-only subsidiaries, WGI (an interstate natural gas pipeline company), and WYCO (a joint venture with CIG for natural gas pipeline and storage development), while nonregulated subsidiaries include Eloigne, Capital Services, Venture Holdings, and Nicollet Project Holdings.

The company's asset base totals $81.4 billion, including 20,800 MW of owned electric generating capacity, 53.3 Bcf of natural gas storage capacity, 115,000 conductor miles of electric transmission lines, 225,000 conductor miles of electric distribution lines, 2,100 miles of natural gas transmission lines, and 38,000 miles of natural gas distribution lines. Xcel Energy's strategy centers on three priorities—customers, people, and performance—focused on delivering reliable, affordable energy amid rising demand from data centers, industrial electrification, and electric vehicle adoption, while investing in renewable energy, grid modernization, and conservation programs to keep customer bills low; the company reports some of the lowest electric and natural gas bills in the nation relative to national averages. The company plans approximately $60 billion in capital investments over the next five years, including roughly $29 billion dedicated to transmission and distribution reliability and resiliency, alongside significant investment in wind, solar, and battery storage resources (approximately 9,500 MW planned) and new natural gas generation (approximately 3,000 MW) to support demand growth and its clean energy transition goals, which include achieving zero-carbon electricity by 2050, net-zero natural gas service by 2050, and enabling charging infrastructure for 1.5 million electric vehicles by 2035.

As of December 31, 2025, the company employed 11,534 full-time employees, with approximately 44% covered by collective bargaining agreements, and maintains community investment programs, economic development initiatives, and customer assistance programs across its service territories.