Northern States Power Company-Wisconsin, a subsidiary of Xcel Energy, has filed a request with the Public Service Commission of Wisconsin for a multi-year increase in electric and natural gas rates. The proposal includes a total electric revenue increase of $151 million over 2026 and 2027, with specific increases of $94 million (11.8%) in 2026 and $57 million (7.1%) in 2027. For natural gas, the request totals $24 million, comprising $20 million (12.7%) in 2026 and $4 million (1.5%) in 2027. The requests are based on projected rate bases of $2.9 billion for electric and $0.3 billion for natural gas in 2026, and $3.2 billion and $0.4 billion, respectively, in 2027.
The Public Service Commission staff has recommended a higher electric base rate increase of $115 million (14.4%) and a natural gas increase of $21 million (12.3%) over the same period, based on a lower return on equity of 9.7%. Key components of the staff's recommendation include adjustments for pending capital investments associated with two transmission projects. A decision from the PSCW is expected in late fourth quarter 2025, with procedural milestones including rebuttal testimony by August 28, 2025, and a hearing on September 16, 2025.
linkAug 11, 2025 13:49:23
Xcel Energy has entered into an equity distribution agreement with multiple financial institutions, allowing the company to offer and sell shares of its common stock valued up to $4 billion. This agreement includes provisions for sales agents to act on behalf of Xcel Energy, as well as forward sale agreements that enable the company to sell shares through forward transactions. The shares will be sold at market prices or negotiated prices, with commissions not exceeding 1% of the sales price per share.
The equity distribution agreement allows Xcel Energy to conduct transactions through various methods, including at-the-market offerings on the Nasdaq Stock Market. The company will receive net proceeds from these sales after deducting commissions and associated costs. All shares offered will be registered under a previously filed registration statement with the SEC, and a prospectus supplement has been filed to facilitate the share offering.
linkAug 01, 2025 19:23:41
Xcel Energy reported second quarter 2025 earnings of $444 million, or $0.75 per share, compared to $302 million, or $0.54 per share in the same period of 2024. The increase in earnings per share was primarily due to the recovery of infrastructure investments, despite higher operational and interest expenses. Year-to-date ongoing earnings per share also rose to $1.59 from $1.42 in 2024. The company reaffirmed its ongoing earnings per share guidance for 2025 to be between $3.75 and $3.85.
The company is actively investing in new generation capacity to meet rising electric demand and enhance system resilience, particularly in Texas and New Mexico where it proposed nearly 5,200 MW of new generation. Xcel Energy's capital structure remains strong, with committed credit facilities available to support liquidity needs. The company also reported an increase in operational expenses and interest charges, largely linked to higher debt levels and costs associated with infrastructure investments.
linkJul 30, 2025 17:45:22
Xcel Energy has appointed Ryan Long as the executive vice president and chief legal and compliance officer, effective immediately. Long, who previously served as president of Xcel Energy's operations in Minnesota, North Dakota, and South Dakota, will now oversee the company's legal, compliance, and federal affairs teams. He has a background in law and leadership, having held various positions within the company since joining as a principal attorney in 2015.
In addition to his new role, Long will continue to manage the Minnesota, North Dakota, and South Dakota operations while the company searches for a new president for that division. His prior experience includes serving as interim general counsel and working with major law firms in Minneapolis and New York City. This leadership change may have implications for Xcel Energy's strategic direction and operational management.
linkJun 16, 2025 16:59:17
XCEL Energy Inc. has entered into a Fifth Amended and Restated Credit Agreement, securing a revolving credit facility worth $2 billion. This agreement includes provisions for a $100 million sub-facility for Letters of Credit and a $75 million sub-facility for Swingline Loans, aimed at providing flexible funding options for the company.
The agreement involves several major financial institutions, with JPMorgan Chase Bank, N.A. serving as the Administrative Agent. The new terms will replace the Original Credit Agreement, allowing XCEL Energy to access the extended credit under specified conditions. This credit facility may influence the company’s financial stability and operational capacity moving forward.
linkMay 07, 2025 16:15:45
Xcel Energy Inc. reported first quarter 2025 GAAP earnings of $483 million, or $0.84 per share, a decrease from $488 million, or $0.88 per share in the same period of 2024. The decline in earnings per share is attributed to higher operating and maintenance expenses, increased depreciation, and interest charges, although these were partially offset by greater recovery of infrastructure investments. The company reaffirmed its ongoing earnings per share guidance for 2025, which remains between $3.75 and $3.85.
The report highlighted that Xcel Energy is advancing its mission to enhance energy efficiency for customers through investments in new generation and system resilience. In February, Minnesota regulators approved a resource plan that includes the addition of nearly 5,000 megawatts of new renewable energy sources by 2030. Despite the earnings decline, the company noted ongoing efforts to mitigate wildfire risks and maintain operational safety through strategic investments and regulatory support.
linkApr 23, 2025 17:35:54
Xcel Energy Inc. has announced the retirement of Timothy O’Connor, the chief operations officer, effective this summer after nearly 20 years with the company. In line with succession planning, Scott Sharp will become the executive vice president and chief generation officer, while Michael Lamb will take on the role of executive vice president and chief delivery officer, effective May 1. Both new appointees will join the Executive Committee and report to the CEO, Bob Frenzel, who expressed appreciation for O’Connor's long service and leadership experience in nuclear operations.
Scott Sharp and Michael Lamb bring a combined 65 years of service at Xcel Energy, with both having held various leadership positions within the company. Their extensive experience is expected to support ongoing operational excellence and safety improvements. O’Connor will transition to an advisory role until August, as the company prepares for this leadership change. The press release highlights Xcel Energy's commitment to leadership development and operational readiness for future changes.
linkMar 03, 2025 16:31:51
Xcel Energy Inc. reported a GAAP earnings per share (EPS) of $3.44 for 2024, an increase from $3.21 in 2023. The ongoing EPS also rose to $3.50 from $3.35, attributed to improved recovery of infrastructure investments. The company highlighted its commitment to enhancing electrical systems and infrastructure, which supports its long-term growth strategy. Additionally, Xcel Energy reaffirmed its EPS guidance for 2025 between $3.75 and $3.85 per share, marking the 20th consecutive year it has met its earnings guidance.
On the negative side, Xcel Energy faced challenges including higher depreciation, interest charges, and operating and maintenance expenses, which partially offset the gains from infrastructure investments. The company also experienced fluctuations in electric and natural gas revenues, influenced by changing fuel costs. Despite these challenges, Xcel Energy's management noted its focus on building a resilient energy grid to meet growing customer demand and adapt to extreme weather conditions.
linkFeb 05, 2025 17:53:35
Xcel Energy has appointed Devin Stockfish to its board of directors, effective January 23, 2025. Stockfish, who has been the president and CEO of Weyerhaeuser Co. since 2019, brings significant experience in managing a large, capital-intensive business. His background includes various leadership roles at Weyerhaeuser and experience in corporate law, which is expected to enhance the company’s strategic and financial oversight. He will serve on both the Finance committee and the Operations, Nuclear, Environmental and Safety committee, expanding the board to 14 members.
While the addition of Stockfish is seen as a positive move for Xcel Energy, there are no specific details provided regarding any immediate challenges or negative impacts associated with this change. The press release primarily focuses on Stockfish's qualifications and the anticipated benefits of his expertise, without addressing potential risks or areas of concern for the company moving forward.
linkJan 23, 2025 16:45:41
Xcel Energy's third quarter earnings for 2024 showed a slight increase in both GAAP and ongoing earnings per share, reaching $1.21 and $1.25 respectively, compared to $1.19 and $1.23 in the same period of 2023. The year-to-date GAAP earnings per share also improved to $2.63 from $2.47 in 2023. The growth in earnings was attributed to recovery from increased infrastructure investments, despite facing higher depreciation and interest charges. Additionally, Xcel Energy has introduced a five-year investment plan totaling $45 billion aimed at enhancing the efficiency and resilience of their energy grid, which is expected to support future demand and infrastructure needs.
Conversely, the report highlighted challenges, including increased operating and maintenance expenses, and the impact of higher interest charges, which partially offset the earnings growth. The company also noted fluctuations in retail electric and natural gas sales, with some segments experiencing declines. Overall, while the earnings metrics improved, the pressures from rising costs and changing sales dynamics indicate areas of concern for the company's financial health.
linkOct 30, 2024 17:47:33