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Xcel Energy Inc. filings document the regulatory record of a public utility holding company and its electric and natural gas utility subsidiaries. The filings cover operating and financial results, common stock and registered note securities, subsidiary registrants including Northern States Power, Public Service Company of Colorado and Southwestern Public Service Company, and material events reported on Form 8-K.
Company disclosures include proxy materials for annual shareholder voting, board and committee governance, executive compensation matters, debt and liquidity arrangements, equity distribution programs, junior subordinated notes, first mortgage bond transactions and other capital-structure activity. The record also identifies Nasdaq-listed securities under XEL and XELLL and provides formal disclosures tied to utility operations, financing, governance and risk oversight.
Xcel Energy (XEL) prospectus supplement excerpt describes unsecured notes that include an issuer option to defer interest payments for up to 40 consecutive quarterly Interest Payment Periods (an "Optional Deferral Period"). During any Optional Deferral Period deferred interest will accrue additional interest, compounded quarterly, at a rate shown in the prospectus supplement (rate not shown in this excerpt). If interest is deferred for U.S. federal income tax purposes the deferred interest is treated as original issue discount, meaning holders taxable on a net income basis must include deferred interest in income before receiving cash. The notes rank equally in right of payment with future unsecured indebtedness but are effectively subordinated to any secured debt and structurally subordinated to obligations of Xcel Energy's subsidiaries. As of June 30, 2025, Xcel Energy reported approximately $7.5 billion of outstanding Senior Indebtedness and its operating subsidiaries reported approximately $45.7 billion of indebtedness. The excerpt also contains interim financial line amounts and other offering mechanics and tax withholding rules for non-U.S. holders.
Xcel Energy Inc. and Public Service Company of Colorado report that settlement agreements in principle have been reached to resolve Marshall Fire-related claims from subrogation insurers, public entities and individual plaintiffs. PSCo expects to pay approximately $640 million, with about $350 million funded by remaining insurance coverage after legal costs. As a result, PSCo expects to record an approximately $290 million charge to earnings in the quarter ending September 30, 2025, which will be treated as a non-recurring adjustment when calculating 2025 ongoing earnings. The companies state that PSCo does not admit fault, wrongdoing or negligence in connection with these settlements and continues to dispute that its power lines caused the Marshall Fire. Xcel Energy Inc. reaffirms its 2025 ongoing earnings per share guidance of $3.75 to $3.85 on an ongoing, non-GAAP basis.
Michael G. Lamb, who is listed as a director and as EVP, Chief Delivery Officer of Xcel Energy Inc. (XEL), reported transactions dated 09/04/2025 on a Form 4 filed 09/05/2025. The filing shows a disposition of 24,508.444 shares of XEL common stock at $0 (coded as a gift) and a contemporaneous acquisition of 24,508.444 shares recorded as indirect ownership through the Michael G. Lamb Family Trust. Following the reported transactions, the form lists 7,474.12 shares as directly owned and 1,995.876 shares held in the Xcel Energy 401(k) Savings Plan (per a plan statement dated 08/29/2025). The filing includes an explanatory note that the shares were gifted to a revocable trust for the benefit of the reporting person’s wife. The Form 4 was signed by Kristin L. Westlund as attorney-in-fact.
T. Rowe Price Associates, Inc. reported beneficial ownership of 31,652,941 shares of Xcel Energy common stock, representing 5.5% of the class. The filing discloses sole voting power for 29,337,555 shares and sole dispositive power for 31,639,218 shares, showing the firm controls voting rights for most, but not all, of the shares it can dispose of.
The statement is reported on a Schedule 13G and includes a certification that the securities are held in the ordinary course of business and were not acquired to change or influence control of the issuer.
Xcel Energy's Wisconsin utility filed a multi-year rate case seeking $151 million in electric revenue and $24 million in natural gas revenue across 2026-2027, based on forward-looking test years with a requested 10.0% ROE and 53.5% equity ratio. The request reflects electric rate bases of $2.9 billion (2026) and $3.2 billion (2027) and natural gas rate bases of $0.3 billion (2026) and $0.4 billion (2027).
PSCW Staff and intervenors submitted direct testimony on August 8, 2025. PSCW Staff recommended lower increases — $115 million for electric and $21 million for natural gas — reflecting adjustments for capital investments, a modest ROE reduction to 9.7%, O&M and other items. The filing notes pending approval of two MISO LRTP transmission projects that affect capital adjustments and states a PSCW decision is anticipated late in the fourth quarter of 2025.