Xcel Energy posts higher quarterly profit on increased electricity rates

Xcel Energy

06/02/2025 12:31

Feb 6 (Reuters) - Xcel Energy  XEL.O  reported an
increase in fourth-quarter profit on Thursday, as the utility
firm benefited from higher electricity rates and lower operating
expenses.
    The company reported a rise in earnings in Minnesota and
Colorado regions, on higher recovery of electric and natural gas
infrastructure investments.
    Regulated utilities use rate case proceedings to seek a rate
increase based on their investments or expenses to provide
services.
    The Minneapolis, Minnesota-based company also benefited from
lower quarterly operating expenses, which were down 3.3% at
$2.77 billion from a year earlier.
    The utility firm's net income was up 13.4% at $464 million
for the quarter ended Dec. 31.
    Xcel Energy serves a total of 3.7 million electricity
customers and 2.1 million natural gas customers across eight
states of Colorado, Michigan, Minnesota, New Mexico, North
Dakota, South Dakota, Texas and Wisconsin.

 (Reporting by Tanay Dhumal in Bengaluru; Editing by Vijay
Kishore)
 ((Tanay.Dhumal@thomsonreuters.com; Twitter: https://twitter.com/TanayDhumal;))