Welcome to our dedicated page for Xcel Energy news (Ticker: XEL), a resource for investors and traders seeking the latest updates and insights on Xcel Energy stock.
Xcel Energy, Inc. (symbol: XEL) is a leading electric and natural gas energy provider, serving 3.8 million electricity customers and 2.1 million natural gas customers across eight states: Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas, and Wisconsin. The company offers a comprehensive portfolio of energy-related products and services tailored to meet the diverse needs of its customer base.
Xcel Energy's operations are supported by a dedicated workforce of over 12,000 employees, who are committed to ensuring safe, reliable, and affordable energy delivery. The company is navigating the dynamic and ever-evolving utility industry by focusing on customer-centric approaches, forward-thinking strategies, and productivity enhancements.
One of Xcel Energy’s significant commitments is to renewable energy. As one of the largest renewable energy owners and suppliers in the United States, more than half of the company's electricity sales come from carbon-free energy sources. This positions Xcel Energy as a key player in the transition to cleaner energy, with substantial investments in wind, solar, and other renewable technologies.
Xcel Energy operates through several subsidiaries, including Northern States Power, which serves customers in Minnesota, North Dakota, South Dakota, Wisconsin, and Michigan; Public Service Company of Colorado; and Southwestern Public Service Company, which caters to customers in Texas and New Mexico. These subsidiaries ensure localized service and management, catering to the unique needs of each region.
In terms of financial health, Xcel Energy maintains a robust financial condition, with ongoing projects aimed at modernizing the grid and enhancing energy efficiency. The company has also established partnerships with various stakeholders to drive innovation and sustainability in its operations.
Looking ahead, Xcel Energy faces a considerable workforce transition, with nearly 50% of its current employees eligible for retirement in the next five years. This presents both a challenge and an opportunity for new talent to join the company, particularly those passionate about renewable energy and community engagement. New employees have the chance to directly influence the company’s energy future.
Xcel Energy remains steadfast in its mission to deliver safe, reliable, and sustainable energy. Through continuous improvement and a commitment to innovation, the company is well-positioned to meet the evolving energy needs of its customers and contribute to a cleaner energy landscape.
Xcel Energy has made significant strides in reducing carbon emissions, achieving a 54% reduction from 2005 levels in its electricity supply. The company's 19th annual Sustainability Report highlights its goal to provide 100% carbon-free electricity by 2050 and an 80% reduction in carbon emissions by 2030. In 2023, carbon-free energy constituted 50% of Xcel's energy mix, surpassing the national average of 41%. Additionally, the company cut sulfur dioxide and nitrogen oxides emissions by 83% and 85%, respectively.
Xcel Energy has excelled in service reliability, with 98% of customers having power restored within 24 hours during major storms. The company also offers some of the lowest residential electric bills in the U.S., 28% below the national average. New wind and solar projects have saved customers $4 billion from 2017 to 2023.
The report also highlights job creation, with 1,400 new jobs and $2.3 billion in capital investment in 2023. Xcel Energy spent $3.6 billion with local businesses and $1.3 billion with small and diverse suppliers. The company has also invested in community programs, including $187 million in assistance for energy bills and $15.3 million in charitable donations.
The Board of Directors of Xcel Energy (NASDAQ: XEL) has declared a quarterly dividend of 54.75 cents per share on its common stock.
The dividend will be payable on July 20, 2024, to shareholders of record as of June 14, 2024.
Xcel Energy operates in 8 Western and Midwestern states, serving 3.8 million electricity customers and 2.2 million natural gas customers through its regulated operating companies.
Xcel Energy's headquarters are in Minneapolis.
Xcel Energy has appointed Rob Berntsen as the new executive vice president and chief legal and compliance officer, succeeding Amanda Rome, who held the position on an interim basis.
Berntsen brings two decades of experience in the energy sector, having previously served in senior roles at BHE Renewables and MidAmerican Energy.
He will oversee Xcel Energy’s legal, compliance, corporate secretary, and securities teams, as the company continues its transition to a clean energy economy.
Berntsen has a strong legal background, with a juris doctor degree from the University of Iowa and a Bachelor of Science from Georgetown University. He also served as a captain in the Judge Advocate General Corps of the U.S. Army.
Fermata Energy and Xcel Energy have partnered with the City of Boulder, Colorado CarShare, and Boulder Housing Partners to launch a Vehicle-to-Everything (V2X) bidirectional charging pilot project. Located at Boulder Housing Partners’ 30 Pearl development and Molly's Spirits Lakeside facility, this project aims to convert parked electric vehicles (EVs) into mobile power units.
Using Fermata's intelligent charging platform, the project will feature four FE-20 chargers and two Nissan LEAFs to demonstrate V2X and Vehicle-to-Building (V2B) technology. This initiative aims to enhance grid resilience, reduce electric bills, and support local communities. Since December 2020, Fermata Energy's V2B technology has been utilized at the North Boulder Recreation Center, generating energy cost savings.
Fermata Energy also initiated a Vehicle-to-Grid (V2G) pilot for affordable housing in Boston. This collaboration highlights practical applications of V2X technology within Xcel Energy's service territory, promoting a sustainable and resilient energy grid.
Xcel Energy (NASDAQ: XEL) will hold its 2024 Annual Meeting of Shareholders virtually on May 22, 2024, at 11:00 a.m. central time. Shareholders who were on record as of March 25, 2024, are eligible to participate. They can attend the meeting online via www.virtualshareholdermeeting.com/XEL2024 and vote during the meeting using the control number on their proxy card or Notice of Internet Availability of Proxy Materials. Voting is also possible prior to the meeting at www.proxyvote.com. The virtual meeting site will offer technical support for any access issues. Additional details are available in the 2024 Notice of Annual Meeting of Shareholders and Proxy Statement, filed with the SEC on April 9, 2024, accessible on the Xcel Energy website.
FAQ
What is the current stock price of Xcel Energy (XEL)?
What is the market cap of Xcel Energy (XEL)?
What services does Xcel Energy provide?
Where does Xcel Energy operate?
What is Xcel Energy’s commitment to renewable energy?
How many employees does Xcel Energy have?
What are the names of Xcel Energy’s subsidiaries?
What is the future workforce challenge for Xcel Energy?
How does Xcel Energy ensure the reliability of its services?
What financial condition is Xcel Energy in?
What are Xcel Energy's recent achievements?
How can new employees impact Xcel Energy’s future?
