Xcel Energy is a major U.S. regulated electric and natural gas delivery company. It provides a comprehensive portfolio of energy-related products and services to approximately 3.8 million electric customers and 2.2 million natural gas customers through four utility subsidiaries. The company is headquartered in Minneapolis, Minnesota and serves customers in eight states, including portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. Xcel Energy manages the risk of climate change and has worked to meet the increasing demand for cleaner energy for over 20 years. Xcel Energy was the first U.S. utility to establish a carbon-free vision, targeting 100% carbon-free electricity by 2050 with an interim goal to reduce carbon emissions 80% by 2030 (from 2005 levels).

• Employees: 11,311 (as of December 2023)
• Geographic Footprint: Eight states including portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin
• Headquarters: Minneapolis, Minnesota
• Founded: 1909
• Number of locations/facilities: Not explicitly stated, but operates in eight states
• Revenue: $14.2 billion (FY2023)
• Market Capitalization: $34.3 billion (as of June 30, 2023, aggregate market value of voting common stock held by non-affiliates)
• Key Subsidiaries/Brands: NSP-Minnesota, NSP-Wisconsin, PSCo, SPS, WYCO, WGI

• CEO: Robert C. Frenzel
• CFO: Brian J. Van Abel
• Board Chair: Robert C. Frenzel
• Other Key Executives: Patricia Correa (Senior Vice President, Chief Human Resources Officer), Timothy O'Connor (Executive Vice President, Chief Operations Officer), Frank Prager (Senior Vice President, Strategy, Security and External Affairs and Chief Sustainability Officer), Amanda Rome (Executive Vice President, Group President, Utilities, and Chief Customer Officer)

Key leaders have extensive experience in the energy and utility sectors. Robert C. Frenzel has served as CEO since August 2021 and Chairman since December 2021. Brian J. Van Abel has served as CFO since March 2020.

• Annual Revenue: $14.2 billion (FY2023)
• Net Income: $1.77 billion (FY2023)
• Market Cap: $34.3 billion (as of June 30, 2023)
• Total Assets: $64.1 billion (as of Dec 31, 2023)
• Employees: 11,311 (as of December 2023)
• Key Financial Highlights: Ongoing earnings per share have grown annually by 6.3% and dividend per share by 6.5% annually over the past five years.

Xcel Energy provides a comprehensive portfolio of energy-related products and services.

• Electric Services: Generation, transmission, distribution, and sale of electricity to residential, commercial, and industrial customers.
• Natural Gas Services: Purchase, transportation, distribution, and sale of natural gas to residential, commercial, and industrial customers.

Along with the utility subsidiaries, the transmission-only subsidiaries, WYCO and WGI comprise the regulated utility operations.

Xcel Energy operates through four main utility subsidiaries, each serving different geographic areas.

• NSP-Minnesota: Serves customers in Minnesota, North Dakota, and South Dakota.
• NSP-Wisconsin: Serves customers in Wisconsin and Michigan.
• PSCo: Serves customers in Colorado.
• SPS: Serves customers in Texas and New Mexico.

Electric operations consist of energy supply, generation, transmission and distribution activities across all four operating companies. Xcel Energy had electric sales volume of 114,980 (millions of KWh), 3.8 million customers and electric revenues of $11,446 million for 2023. Xcel Energy had natural gas deliveries of 406,742 (thousands of MMBtu), 2.2 million customers and natural gas revenues of $2,645 million for 2023.

Xcel Energy's vision is to be the preferred and trusted provider of the energy its customers need. The company executes on its vision and mission through three strategic priorities:

• Lead the Clean Energy Transition: Focus on reducing carbon emissions and transitioning to cleaner energy sources.
• Enhance the Customer Experience: Improve customer satisfaction and provide new digital tools for energy management.
• Keep Bills Low: Maintain customer affordability through cost control and efficiency initiatives.

Xcel Energy aims to achieve 100% carbon-free electricity by 2050, with an interim goal to reduce carbon emissions 80% by 2030 (from 2005 levels). The company is also focused on reducing other emissions and environmental impacts, including water consumption and coal ash production.

Xcel Energy operates in the regulated electric and natural gas utility industry. The company faces competition from other utilities, distributed generation, and alternative energy providers.

• Market Position: Xcel Energy is a major U.S. regulated electric and natural gas delivery company.
• Key Competitors: Other regulated utilities, independent power producers, and alternative energy providers.
• Industry Trends: Increasing demand for clean energy, growth in distributed generation, and evolving regulatory landscape.

• Operational Risks: Risks associated with natural gas and electric generation, transmission, and distribution operations, including accidents, outages, and equipment failures.
• Financial Risks: Risks related to commodity price fluctuations, interest rate changes, credit ratings, and the ability to recover costs from customers through regulated rates.
• Regulatory Risks: Risks associated with changes in federal and state regulations, including environmental rules, rate setting, and public policy.
• Cybersecurity Risks: Risks related to cybersecurity incidents, data breaches, and the potential for disruptions to critical infrastructure.
• Workforce Risks: Risks associated with attracting and retaining qualified employees, potential labor disruptions, and the use of third-party contractors.