Here’s a detailed overview of Xcel Energy, a utility company based in Minneapolis. Xcel Energy is a prominent player in the arena of electric and natural gas services, operating across eight states in the Western and Midwestern United States. The company is responsible for generating, distributing, and transmitting energy, with a total generating capacity reaching about 20,600 megawatts. Impressively, Xcel Energy delivers essential services to 3.8 million electricity customers and 2.1 million natural gas customers through its regulated utility framework. Notably, around 25% of its clientele is located in the Denver area, where services are facilitated by its subsidiary, PSCo. Alongside electricity and natural gas provision, Xcel Energy manages significant pipeline infrastructure and oversees natural gas storage and compression operations.
When we look at the composition of Xcel’s 2024 revenues, a significant portion—over 80%—originated from electric sales. The company’s fuel mix in 2023 was characterized by a diverse range of sources: 19% came from coal, 10% from nuclear, 30% from natural gas, while wind power contributed 32%. Solar energy and other biomass sources accounted for 4% each. In a strategic move to secure its operational future, Xcel Energy received regulatory approval in January 2025 for a twenty-year extension of operations, positioning it strongly for continued service provision in the coming decades.
