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 Inc. presents an overview of its regulated electric and natural gas business, serving 3.9 million electric and 2.2 million natural gas customers across eight states with total assets of $81.4 billion.
The company highlights a five-year capital plan of $60 billion focused on transmission, distribution, reliability and clean energy, including about 11,000 MW of wind capacity and major solar projects like Sherco Solar. Through 2025, carbon emissions from generation are down an estimated 58% from 2005, and Xcel remains committed to zero-carbon electricity and net‑zero natural gas service by 2050.
Xcel notes a long record of meeting or exceeding ongoing EPS guidance for 21 consecutive years and delivering 23 straight years of dividend growth, while detailing extensive ESG initiatives, wildfire mitigation efforts, workforce diversity data and a broad set of operational, financial, regulatory, climate and cybersecurity risks that could affect future performance.
Xcel Energy Inc. filed a Form 8-K to report that it released its earnings results for the fourth quarter of 2025. The earnings information was made available on February 5, 2026 and is provided in an Earnings Release furnished as Exhibit 99.01.
The filing is a standard current report under Item 2.02 for results of operations and financial condition and does not itself include detailed financial figures, which are contained in the referenced exhibit.
Xcel Energy Inc. entered into a new $1.5 billion 364-day unsecured delayed draw term loan facility with a syndicate of lenders, with U.S. Bank National Association as administrative agent. On the same date, Xcel Energy borrowed $750 million under this facility to support general corporate operations and other general corporate purposes.
The loan matures on January 30, 2027 and bears interest at either a Term SOFR-based rate plus an 85 basis point margin or an alternate base rate. The agreement includes one key financial covenant requiring Xcel Energy’s consolidated funded debt to total capitalization ratio to be no more than 70 percent, along with standard restrictions on mergers, asset sales, and liens. The facility can be accelerated upon various events of default, including cross-defaults and certain large monetary judgments.
Xcel Energy Inc. director reports stock acquisition
A director of Xcel Energy Inc. reported acquiring 976.462 shares of common stock on 12/17/2025, recorded at a price of $0 per share. After this transaction, the director beneficially owns a total of 976.462 common shares held directly.
The holding includes 244.462 stock equivalent units, each economically equal to one share of common stock. Whole stock equivalent units are payable in shares of common stock after the director’s service ends, while fractional units are settled in cash at that time.
XCEL ENERGY INCno non-derivative securities beneficially owned and no derivative securities, such as options or warrants, listed as of the reported date of 12/17/2025. The form is filed for a single reporting person and notes a power of attorney authorizing Kristin L. Westlund to sign on her behalf.
Xcel Energy Inc. reported that its Board of Directors elected Maria Demaree, 57, as a new director effective December 17, 2025. She will serve on the Audit Committee and the Operations, Nuclear, Environmental and Safety Committee, and the Board determined she meets the independence requirements of the Nasdaq Stock Market and Xcel Energy’s own standards. With her election, the Board increased its size from 11 to 12 directors under the company’s bylaws.
Demaree is currently Senior Vice President, Enterprise Business and Digital Transformation and Chief Information Officer at Lockheed Martin Corporation, where she has held numerous leadership roles since 1990. Her compensation will match that of other non‑employee directors, prorated from the start of her service until the 2026 Annual Meeting of Shareholders. The company stated there are no related person transactions or familial relationships involving Demaree that require disclosure.
Xcel Energy Inc. executive Michael G. Lamb, EVP and Chief Delivery Officer, reported an indirect transaction in the company’s common stock. On 12/16/2025, a transaction coded “G” in Table I shows that 700 shares of common stock held by the Michael G. Lamb Family Trust were disposed of at a price of $0 per share.
Following this transaction, the filing shows 23,808.444 shares of Xcel Energy common stock beneficially owned indirectly through the family trust. It also reports 2,009.271 shares held indirectly in the Xcel Energy Stock Fund under the Xcel Energy 401(k) Savings Plan, based on a plan statement dated December 10, 2025.
Xcel Energy Inc. has launched three cash tender offers to purchase for cash up to $345,000,000 aggregate principal amount of certain outstanding first mortgage bonds issued by its wholly owned Minnesota subsidiary, Northern States Power Company. The offers are described in an Offer to Purchase and a related Notice of Guaranteed Delivery, both dated December 15, 2025.
The transactions involve using cash to buy back existing utility first mortgage bonds and will proceed only in accordance with the terms and conditions set out in those offer documents and applicable law.
Xcel Energy Inc. (XEL) reported an insider equity transaction by an executive officer. EVP and Chief Legal officer Ryan Long reported a transaction dated 11/21/2025 involving Xcel Energy common stock, coded as “G,” indicating a gift of 1,265 shares at a price of $0. Following this transaction, Long directly beneficially owns 11,466.894 shares of Xcel Energy common stock. He also has indirect beneficial ownership of 1,905.901 shares held in the Xcel Energy Stock Fund under the Xcel Energy 401(k) Savings Plan, based on a plan statement dated November 21, 2025.
Xcel Energy’s Colorado utility, Public Service Company of Colorado, has filed for a significant electric rate increase with state regulators. The company is asking the Colorado Public Utilities Commission to approve an additional $356 million in annual revenue, a 9.9% increase, or $526 million when including rider roll-ins. The request is built on a 9.8% return on equity, a 55% equity ratio, and a 2025 test year with a projected rate base of $13 billion.
The proposal is driven mainly by $294 million of distribution system investment, higher liability insurance of $65 million, additional operating costs of $51 million, and $49 million from changes in cost of capital, partly offset by $(120) million related to coal retirements. A decision and implementation of final rates are anticipated in the third quarter of 2026, and outcomes will depend on the regulatory process and identified risk factors.