US utility Xcel says tariff exposure is 2%-3% of capex plan

Xcel Energy

24/04/2025 16:16

NEW YORK, April 24 (Reuters) - About 2% to 3% of U.S. electric utility Xcel Energy's $45 billion capital expenditure plan is exposed to risks from a global tariff war that is expected to hit renewable energy and storage supply chains, executives with the company said on Thursday.

As the expansion of AI data centers and the electrification of industries like transportation drive up U.S. electricity use, power companies this year have revised up capital expenditure plans to build power infrastructure to meet the surging demand.

Tariffs imposed by U.S. President Donald Trump, and reciprocal tariffs by countries like China, have threatened to drive up building costs.

 (Reporting by Laila Kearney)

 ((Laila.kearney@thomsonreuters.com; (917) 809-0054;))