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. reports developments for a regulated electric and natural gas utility serving customers across eight Western and Midwestern states. News commonly covers GAAP and ongoing earnings, dividend declarations, recovery of infrastructure investments, electric sales trends, operating expenses and financing-related updates.
The company’s recurring updates also address clean-energy and grid projects, large-load customer service, generation and transmission planning, and technology and security modernization. Xcel Energy operates through regulated utility companies that include Northern States Power, Public Service Company of Colorado and Southwestern Public Service Company, with business activity tied to electricity delivery, natural gas service, renewable energy resources and state utility regulation.
Quanta Services (NYSE: PWR) has been chosen by Xcel Energy for the Colorado's Power Pathway project, which aims to enhance Colorado's electric transmission infrastructure. This multi-year initiative, expected to run through 2027, involves constructing around 610 miles of 345 kV transmission lines, four new substations, and expanding four existing ones. The project will support approximately 5,500 megawatts of renewable energy resources. Revenue from this project will be reflected in Quanta's backlog for Q4 2022.
The Board of Directors of Xcel Energy (NASDAQ: XEL) has announced a quarterly dividend of 48.75 cents per share, payable on January 20, 2023, to shareholders of record as of December 29, 2022. Xcel Energy operates in 8 states, serving approximately 3.7 million electricity and 2.1 million natural gas customers. The company is committed to providing a broad range of energy services.
Xcel Energy has proposed advancing the retirement of the Tolk Generating Station's coal operations in Texas to 2028, over four years earlier than planned, a step towards a complete exit from coal by 2030. This move aligns with the company's goal to achieve 100% carbon-free electricity by 2050, aiming for an 80% reduction in carbon emissions by 2030. The earlier retirement is projected to save customers in Texas and New Mexico more than $70 million. Xcel Energy's commitment reflects its strategy of transitioning to affordable clean energy while ensuring service reliability.
Xcel Energy has signed a 20-year agreement with Anterix for the use of its 900 MHz spectrum across eight states, enhancing its grid modernization efforts for 3.7 million electricity and 2.1 million natural gas customers. The collaboration supports a private LTE network aimed at improving energy delivery and reliability. Xcel, now part of the Utility Strategic Advisory Board, will also assist with technology trials and participate in the Anterix Active Ecosystem. This move positions Xcel Energy as a key player in the utility broadband sector.
Xcel Energy reported a strong third quarter in 2022 with GAAP diluted earnings per share of $1.18, up from $1.13 in 2021. Year-to-date EPS increased to $2.48 from $2.38 the previous year.
The company narrowed its 2022 EPS guidance to $3.14 to $3.19 and initiated 2023 guidance at $3.30 to $3.40. These results reflect benefits from capital investments and regulatory outcomes, despite increased operational costs. Additionally, the Inflation Reduction Act is expected to significantly lower costs for upcoming renewable projects.
Xcel Energy (NASDAQ: XEL) will hold a conference call on October 27, 2022, at 9:00 a.m. Central Time to discuss its third quarter financial results. Earnings will be released before market opening. Participants are asked to dial in at least 5 minutes ahead. The call will be accessible via US dial-in at 866-580-3963 and international at 400-120-0558, with a conference password of 0230649. A replay will be available from October 27 through October 31.
Bloom Energy (NYSE: BE) announced plans to install an electrolyzer at Xcel Energy's (NASDAQ: XEL) Prairie Island Nuclear Generating Plant in Minnesota. This initiative aims to enhance clean hydrogen production efficiency by utilizing nuclear infrastructure, promising a reduction in hydrogen production costs and support for the growing hydrogen economy. The 240 kW electrolyzer, based on Bloom's solid oxide platform, is expected to begin construction in late 2023 with power-on anticipated in early 2024, potentially transforming the dynamics of zero-carbon energy production.
Xcel Energy (NASDAQ: XEL) partners with Ambri to utilize its Liquid Metal™ battery technology at Solar Technology Acceleration Center in Aurora, Colorado. This initiative aims to bolster Xcel's commitment to a carbon-free future and enhance its renewable energy capabilities. With an objective to reduce carbon emissions by 80% by 2030 and achieve net-zero energy by 2050, this collaboration supports Xcel's strategic goals and further cements its leadership in clean energy solutions.
The Board of Directors of Xcel Energy (NASDAQ: XEL) announced a quarterly dividend of 48.75 cents per share, payable on October 20, 2022, to shareholders on record by September 15, 2022.
Xcel Energy operates across 8 states, serving 3.7 million electricity and 2.1 million natural gas customers. The company is headquartered in Minneapolis. For further details, visit www.xcelenergy.com.
Xcel Energy has unveiled its ambitious transportation vision aimed at transitioning all vehicles in its service area to carbon-free electricity by 2050. This plan builds on its 2030 goal to have 20% of vehicles electric, ultimately supporting the company's aim of becoming a net-zero energy provider. Significant benefits include an estimated $1 billion savings for customers on fuel by 2030 and improved air quality. The initiative includes expanding electric vehicle charging infrastructure, particularly in Minnesota and Wisconsin, adding about 750 high-speed charging stations.