Xcel Energy

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). It consists of four operating subsidiaries: Northern States Power-Minnesota, Northern States Power-Wisconsin, Public Service Company of Colorado, and Southwestern Public Service Co.

Xcel Energy Inc.
Company typePublic
ISINUS98389B1008
IndustryUtilities
PredecessorNew Century Energies
FoundedJune 17, 1909 (1909-06-17) in Stillwater, Minnesota, U.S.
(as Washington County Light & Power Company)
FounderH.M. Byllesby
Headquarters,
U.S.
Area served
  • NSPM: Minnesota, North Dakota, and South Dakota
  • NSPW: Michigan and Wisconsin
  • PSCo: Colorado
  • SPS: New Mexico and Texas
Key people
  • Robert C. Frenzel
    (Chairman, President, and CEO)
  • Timothy O'Connor
    (Executive VP and COO)
  • Brian J. Van Abel
    (Executive VP and CFO)
  • Brett C. Carter
    (Executive VP and Group President, Utilities and CCO)
Products
Production output
  • Electric: 115.474 TWh
  • Natural Gas: 405.895 TBtu
  • (2021)
BrandsReddy Kilowatt
Revenue US$15.31 billion (2022)
US$2.428 billion (2022)
US$1.736 billion (2022)
Total assets US$61.19 billion (2022)
Total equity US$16.68 billion (2022)
Number of employees
11,982 (2022)
Subsidiaries
Websitexcelenergy.com
Footnotes / references

In December 2018, Xcel Energy announced it would deliver 100 percent clean, carbon-free electricity by 2050, with an 80 percent carbon reduction by 2035 (from 2005 levels). This makes Xcel the first major US utility to set such a goal.

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