# Xcel Energy

> Xcel Energy is a Minneapolis-based regulated electricity and natural gas company serving approximately 3.9 million electric accounts and 2.2 million gas accounts across parts of eight U.S. states. It combines conventional generation, nuclear power, renewables and grid investment, with a goal of delivering carbon-free electricity by 2050.

- **Founded:** 2000
- **Headquarters:** Minneapolis, United States
- **Products:** Electricity generation and delivery, Natural gas service, Renewable*Connect Flex, Energy efficiency programs, Solar*Rewards and community solar
- **Notable:** Completed the first three Sherco Solar phases, totaling 710 MW and 1.7 million panels, in 2026., Announced a 100% carbon-free electricity goal in December 2018, an early major U.S. utility commitment., Reports a 58% reduction in electricity-related carbon emissions from the 2005 baseline in 2025; 2025 emissions data were preliminary pending verification.

## Products & services

- **Electricity generation and delivery** — Generates and purchases electricity, operates transmission and distribution systems, and sells regulated retail and wholesale electric service.
- **Natural gas service** — Purchases, transports, stores and distributes natural gas for residential and business customers.
- **Renewable*Connect Flex** — Optional renewable electricity subscription in eligible territories; enroll in 100 kWh blocks or cover all usage, with an additional charge under state-specific terms.
- **Energy efficiency programs** — Equipment rebates, assessments and demand-side management offerings; eligibility and funding differ by territory.
- **Solar*Rewards and community solar** — Programs supporting eligible customer solar generation and community solar subscriptions, subject to local tariffs.
- **Sherco Solar** — Utility-owned solar generation near Becker and Clear Lake, Minnesota; first three phases totaling 710 MW completed in 2026.

## Achievements

- Completed the first three Sherco Solar phases, totaling 710 MW and 1.7 million panels, in 2026.
- Announced a 100% carbon-free electricity goal in December 2018, an early major U.S. utility commitment.
- Reports a 58% reduction in electricity-related carbon emissions from the 2005 baseline in 2025; 2025 emissions data were preliminary pending verification.
- Reports that 53% of its 2025 companywide electricity mix was carbon-free.

## Latest updates

- **2026-10** — October 12: proposed keeping Minnesota electric base rates flat for two years and postponing the next electric rate case until at least November 2028, subject to approval; base rates do not equal total bills.
- **2026-10** — October 6: announced sale of Michigan gas operations to SEMCO and electric operations to UPPCO; regulatory approvals required, closing expected in 2027.
- **2026-07** — July 30: reported Q2 GAAP earnings of $586 million and reaffirmed 2026 ongoing EPS guidance of $4.04-$4.16.
- **2026-07** — July 21: announced completion of Sherco Solar Phase 3; a fourth 200 MW phase was proposed, not complete.
- **2026-02** — February 24: announced the Google Pine Island agreement and associated clean-energy and storage plans.
- **2026-06** — 2025 sustainability report states that the original companywide 80% emissions reduction by 2030 will take longer, citing affordability, rising demand, supply chains and policy changes; 2050 ambition remains.

## Links

- Website: https://xcelenergy.com
- LinkedIn: https://www.linkedin.com/company/xcel-energy/
- Twitter/X: https://twitter.com/XcelEnergy
- YouTube: https://www.youtube.com/@XcelEnergy
- Instagram: https://www.instagram.com/xcelenergy/
- Facebook: https://www.facebook.com/xcelenergy/

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Profile page: https://yespress.io/xcel-energy
Published by YesPress — https://yespress.io
Last updated: 2026-10-22