Xcel Energy Inc. (XEL) operates as a leading U.S. regulated electric utility and natural gas delivery company headquartered in Minneapolis, Minnesota, with origins tracing to 1909. The company, through its four primary operating subsidiaries—Northern States Power-Minnesota, Northern States Power-Wisconsin, Public Service Company of Colorado, and Southwestern Public Service Co.—generates, purchases, transmits, distributes, and sells electricity and natural gas to approximately 3.9 million electric customers and 2.2 million natural gas customers across eight western and midwestern states including Colorado, Minnesota, Wisconsin, New Mexico, Texas, North Dakota, South Dakota, and Michigan. Its generation portfolio features a diverse mix of wind, solar, hydroelectric, nuclear (including the Monticello and Prairie Island plants), natural gas, coal, biomass, and waste-to-energy sources; the company maintains approximately 111,000 miles of electric transmission lines and extensive distribution networks while offering customer programs such as Windsource for renewable energy designation and solar incentives. Xcel Energy commits to 100% carbon-free electricity by 2050, with 80% reduction by 2035 from 2005 levels, supported by plans to retire coal plants, add wind farms, expand solar capacity by up to 1,400% in Minnesota, and invest $60 billion in capital over five years for power demand growth; recent developments include announcing a portfolio of new power projects in Texas and New Mexico in July 2025, securing Colorado regulatory approval for its Just Transition plan to solicit bids for nearly 14,000 megawatts of new capacity, and ramping up transmission investments like the $1.7 billion Colorado Power Pathway.