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.
OriginClear Inc (OCLN) has secured a $1.8 million purchase order from a major U.S. power utility under a Master Services Agreement with its subsidiary, Progressive Water Treatment (PWT). The total expected revenue under the MSA is $5 million, dependent on future orders. This contract marks a significant return to large power plant contracts for PWT, which previously held notable projects with the utility. Additionally, OriginClear’s Modular Water Systems division recorded nearly $900,000 in orders in June, indicating strong demand.
Xcel Energy has appointed Bob Frenzel as the new president and CEO, succeeding Ben Fowke, who will serve as executive chairman of the Board of Directors. Frenzel, who joined Xcel in 2016 and has served as CFO and COO, aims to focus on strategic priorities like enhancing customer experience and leading the clean energy transition. Tim O’Connor will now take on the role of executive vice president and COO, overseeing various operations. Fowke’s tenure saw significant strides in carbon emissions reduction and the expansion of renewable energy initiatives.
The Board of Directors of Xcel Energy declared a quarterly dividend of 45.75 cents per share, payable on October 20, 2021, to shareholders of record on September 15, 2021. Xcel Energy operates in 8 states, serving 3.7 million electricity and 2.1 million natural gas customers. This dividend reflects the company's ongoing commitment to returning value to shareholders. For more information, visit www.xcelenergy.com.
NuScale Power has signed a memorandum of understanding (MOU) with Xcel Energy to explore the feasibility of Xcel Energy serving as a plant operator for NuScale's advanced small modular reactors. This partnership aims to leverage Xcel's expertise in nuclear operational management to support carbon-free energy generation. The MOU sets a framework for future agreements but does not constitute a formal operating contract. Both companies recognize the growing demand for reliable, carbon-free energy, and this collaboration could enhance NuScale's commercialization efforts for its innovative reactor technology.
Xcel Energy has been recognized as the largest clean energy provider in the U.S. for wind, solar, and battery storage by the American Clean Power Association. The company boasts over 11,205 megawatts of clean power on its system as of the end of 2020, exceeding its nearest competitor by 43 megawatts. Xcel aims to deliver 100% carbon-free electricity by 2050 and targets an 80% reduction in carbon emissions by 2030. The recent completion of a massive wind expansion positions Xcel as a leader in renewable energy solutions.
Xcel Energy reported a strong performance in the second quarter of 2021, with GAAP earnings of $311 million or $0.58 per share, up from $287 million or $0.54 per share in 2020. This growth was driven by higher electric and natural gas margins despite increased expenses. The company reaffirmed its 2021 guidance and highlighted progress in rate case settlements across multiple states. Additionally, Xcel is on track to achieve 80% carbon-free electricity by 2030 and aims for 100% by 2050, with new renewable projects approved, including a significant solar facility in Wisconsin.
Xcel Energy (NASDAQ: XEL) will host a conference call on July 29, 2021, at 9:00 a.m. Central Time to discuss its second-quarter 2021 financial results. The earnings report will be released prior to market opening. Participants can join via a US dial-in number (888-204-4368) or an international number (400-120-9101), using conference ID 9915304. The call will also be broadcasted live on Xcel's website and available for replay after the event. For further inquiries, financial analysts can contact Paul Johnson, Vice President - Treasurer & Investor Relations.
Xcel Energy announces Paul Johnson as the new Treasurer, elevating him from his current role as Vice President of Investor Relations. This shift comes as the current Treasurer, Sarah Soong, departs for a role in healthcare insurance. Brian Van Abel, Xcel Energy's CFO, highlights the importance of strategic succession planning and the creation of synergies by combining Treasury and Investor Relations teams. Johnson's extensive experience and established relationships with credit agencies and investors are expected to enhance the company's leadership and operational performance.
Xcel Energy reported progress in achieving its carbon reduction goals while maintaining low customer bills amid challenges from COVID-19 and economic downturns. The company aims for 100% carbon-free electricity by 2050, achieving a 51% reduction since 2005. Key initiatives include reducing water consumption by 70% by 2030 and supporting 1.5 million electric vehicles. Since 2013, customer bills have increased below inflation, and Xcel committed $643 million to diverse suppliers in 2020, enhancing its focus on social equity.
Xcel Energy Inc. (NASDAQ: XEL) has declared a quarterly dividend of 45.75 cents per share, payable on July 20, 2021 to shareholders on record as of June 15, 2021. The company serves approximately 3.7 million electricity and 2.1 million natural gas customers across eight states in the U.S. Xcel Energy emphasizes its focus on providing reliable energy solutions while addressing potential risks as outlined in its Annual Report on Form 10-K.