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Xcel Energy Inc. is a U.S. regulated electric utility and natural gas delivery company based in Minneapolis, Minnesota, serving more than 3.7 million electric customers and 2.1 million natural gas customers across parts of eight states (Colorado, Minnesota, Wisconsin, Michigan, North Dakota, South Dakota, Texas and New Mexico). [3]
In 2003, Xcel Energy paid NRG Energy $752 million for the benefit of NRG Energy's creditors and took a $2 billion write-off. [4] On May 14, 2003, NRG Energy filed for chapter 11 bankruptcy. In the company's reorganization, Xcel Energy relinquished its ownership interest, and NRG Energy became an independent, public company after bankruptcy.
For 2024, Xcel Energy reported ongoing earnings per share of $3.50 vs. $3.35 in 2023. This reflects higher recovery of infrastructure investments, partially offset by increased depreciation ...
83 miles of new 345 kV overhead transmission line carry the electricity to the Xcel Energy substation near Deer Trail in Arapahoe County. [5] Most components for the 300 Vestas 2.0 MW turbines were produced at the four nearby manufacturing facilities in Pueblo, Brighton, and Windsor, Colorado, which together employ about 3,500 people.
Xcel Energy said it will need to add five to 10 gigawatts of power to the region by 2030 to the current installed capacity of about 7,500 megawatts. A gigawatt is 1,000 megawatts.
Xcel Energy wants to ensure a stable leadership team during its transition to clean energy, so the company's board voted to pay $9 million to Chief Executive Bob Frenzel should he stay through ...