Xcel Energy Inc.

XEL

US98389B1008

Electric Utilities

Market Closed - Nasdaq Other stock markets 04:00:00 2025-12-04 pm EST			5-day change	1st Jan Change
77.77 ^USD	-0.79%		-4.28%	+15.18%

Dec. 03	Argus Adjusts Price Target on Xcel Energy to $86 From $78, Maintains Buy Rating	MT
Nov. 20	Morgan Stanley Adjusts Price Target on Xcel Energy to $84 From $86, Maintains Equalweight Rating	MT

Xcel Energy : EEI Financial Conference 2025

Published on 11/07/2025 at 04:45 pm EST

Publicnow

Xcel Energy Inc.

-0.79%

EEI FINANCIAL CONFERENCE MAKING ENERGY WORK BETTER

November 2025

BALANCED INVESTMENT THESIS

Regulated Utility that Consistently Delivers

Met or exceeded earnings guidance for 20 consecutive years
Dividend increases for 22 consecutive years
Strong balance sheet and credit metrics
Resilient, Reliable and Affordable
Average residential electric bills 28% below national average
Five-year capital plan forecast keeps long-term customer bill growth at inflation
Significant progress reducing system risk from extreme weather
57% reduction in carbon for electric operations
Transparent Long-Term Growth Plan
- Capital plan of $60 billion, reflecting ~11% rate base CAGR from 2025 - 2030
- Balanced sales growth, including upside from data centers
- TSR of 10+%, reflecting 6-8+% EPS growth and ~3% dividend yield

XCEL ENERGY OVERVIEW

Northern States Power Company - Minnesota (NSPM)

2024 Rate Base: $17.5 billion
2024 Ongoing EPS: $1.41

2
2026-2030 Base Cap Ex: ~$20.1 billion
2
Northern States Power Company - Wisconsin (NSPW)
2024 Rate Base: $2.6 billion
2024 Ongoing EPS: $0.24
2026-2030 Base Cap Ex: ~$4.0 billion

Public Service Company of Colorado (PSCo)
- 2024 Rate Base: $19.2 billion
- 2024 Ongoing EPS: $1.39
- 2026-2030 Base Cap Ex: ~$17.6 billion
Southwestern Public Service (SPS)
- 2024 Rate Base: $7.5 billion
- 2024 Ongoing EPS: $0.70
- 2026-2030 Base Cap Ex: ~$19.0 billion

4	8	3.9 Million	2.2 Million	$47 Billion	21 GW	~11,000
Operating Companies	States	Electric Customers	Natural Gas Customers	2024 Rate Base	Owned Gen. Capacity	Employees

XCEL ENERGY OPERATING MODEL

VISION

We will be the preferred and trusted provider of the energy our customers need

MISSION

We will make energy work better for our customers, helping them thrive every day

PRIORITIES

Our Customers

Enhance their experience with Xcel Energy and keep their bills as low as possible

Our People

Provide a rewarding employee experience, with development, engagement and growth

Our Performance

Deliver excellent operational, financial and clean energy performance

VALUES Connected Committed Safe Trustworthy

PROVEN TRACK RECORD

Guidance Range

$3.75- $4.16

CAGR = 6.0%

$3.85

$1.15

Ongoing EPS

$4.04-

20 Years Delivering EPS Within Guidance

2005 2007 2009 2011 2013 2015 2017 2019 2021 2023

Dividend

Annual Increase

CAGR = 5.0%

2005 2007 2009 2011 2013 2015 2017 2019 2021 2023 2025

2025

2023

2021

2019

2017

2015

2013

2011

2009

2007

2005

Low End

Midpoint Actual Result

ON TRACK

High End

KEEPING CUSTOMER BILLS LOW 2014 - 2025E Residential Electric CAGR = ~1.6% 2014 - 2025E Natural Gas CAGR = ~0.8%

$98 $98 $99 $99

Average Xcel Energy Residential Bill to National Average**

Electric Natural Gas

$83

$80

$81 $81

$84 $80

$84 $89

$81

Electric

$62

$68

$67

$54

$58

$48

$51

$42

$45

$48

$44

-12%

Natural Gas

2014 2016 2018 2020 2022 2024

2025E*

-28%

* 2025E is an estimate based on weather-adjusted volumes and current / historical fuel prices, and is subject to change

** Based on trailing 5-year customer bill data from EIA (2020 - 2024 for electric; 2019 - 2023 for natural gas)

LOW CUSTOMER SHARE OF WALLET

Residential Electric Share of Wallet*

2024

2014

1.2%

1.6%

Residential Electric Share of Wallet by State**
Colorado	1.0% (#1 of 50)
North Dakota	1.2% (#3 of 50)
Michigan	1.3% (#4 of 50)
Minnesota	1.3% (#5 of 50)
South Dakota	1.6% (#9 of 50)
Wisconsin	1.6% (#12 of 50)
Texas	1.9% (#25 of 50)
New Mexico	2.2% (#35 of 50)

* Average Xcel Energy residential bill divided by household income

** Average Xcel Energy residential customer share of wallet as compared to average share of wallet for other states based on 2024 EIA data

CAPITAL FORECAST 2026 - 2030

2025-2029 Capital Plan

$45 Billion

SPS and NSP Generation Portfolios MISO and SPP Transmission

$15 Billion

$60 billion total capital investment

~7,500 MW renewable generation

~3,000 MW natural gas generation

~1,900 MW energy storage

~1,500 new transmission line miles

~$5 billion for wildfire mitigation

CAPITAL FORECAST 2026 - 2030 Investment by Function

Other

Electric Generation Capacity Mix

Natural Gas LDC 6%

Electric Distribution 23%

Storage

16%

Natural Gas

24N%SPM

37%

Other $252%2.5

~1B2illGioWn

SolRarenewables 20%

24%

Wind

3N6S%PW

10%

$60 Billion

Electric

Electric Transmission

Generation

39%

26%

Attention: This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

Original document
Permalink

Disclaimer

Xcel Energy Inc. published this content on November 07, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on November 07, 2025 at 21:42 UTC.

Latest news about Xcel Energy Inc.

Dec. 03	Argus Adjusts Price Target on Xcel Energy to $86 From $78, Maintains Buy Rating	MT
Nov. 20	Morgan Stanley Adjusts Price Target on Xcel Energy to $84 From $86, Maintains Equalweight Rating	MT
Nov. 17	Jefferies Adjusts Price Target on Xcel Energy to $94 From $92, Maintains Buy Rating	MT
Nov. 05	Barclays Adjusts Price Target on Xcel Energy to $85 From $83, Maintains Overweight Rating	MT
Oct. 31	Mizuho Adjusts Price Target on Xcel Energy to $89 From $87	MT
Oct. 31	Citigroup Adjusts Price Target on Xcel Energy to $92 From $80	MT
Oct. 31	BMO Capital Adjusts Price Target on Xcel Energy to $91 From $88	MT
Oct. 31	Wolfe Research Adjusts Price Target on Xcel Energy to $90 From $84	MT
Oct. 31	Goldman Sachs Adjusts Price Target on Xcel Energy to $89 From $87	MT
Oct. 31	UBS Adjusts Price Target on Xcel Energy to $86 From $84, Maintains Neutral Rating	MT
Oct. 30	Utilities Down Amid Mixed Earnings -- Utilities Roundup	DJ
Oct. 30	Xcel Energy ramps up capital plan on robust power demand	RE
Nov. 08	Xcel Energy Inc., Q3 2025 Earnings Call, Oct 30, 2025
Oct. 30	Xcel Energy misses quarterly profit estimates on higher interest charges, expenses	RE
Oct. 30	Xcel Energy Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2025	CI
Oct. 30	Xcel Energy Reaffirms Earnings Guidance for 2025 and Initiates Earnings Guidance for 2026	CI
Oct. 30	Xcel Energy Q3 Ongoing Earnings Decline, Revenue Rises; Reaffirms 2025 Ongoing Earnings Guidance	MT
Oct. 30	(XEL) Xcel Energy Expects Full Year 2026 Ongoing EPS Range $4.04 to $4.16	MT
Oct. 30	(XEL) Xcel Energy Expects Full Year 2025 Ongoing EPS Range $3.75 to $3.85	MT
Oct. 30	Xcel Energy Q3 profit misses estimates on higher expenses	RE
Oct. 30	Earnings Flash (XEL) Xcel Energy Posts Q3 EPS $0.88, vs. FactSet Est of $1.30	MT
Oct. 30	Earnings Flash (XEL) Xcel Energy Inc. Reports Q3 Revenue $3.92B, vs. FactSet Est of $3.89B	MT
Oct. 29	Corporate earnings calendar for October 30, 2025: Schneider and TotalEnergies ahead of Amazon and Apple
Oct. 27	Lumen Expands Availability of Internet On-Demand to over 10 Million New Locations	CI
Oct. 27	Earnings calendar for October 27-31: Apple, Microsoft, Amazon, and others report

Chart Xcel Energy Inc.

Duration

Period

XEL: Dynamic Chart

Company Profile

Xcel Energy Inc. specializes in electricity production and distribution. Net sales break down by activity as follows: - electricity production, transmission and distribution (82.9%); - natural gas purchase, transportation and distribution (16.6%); - other (0.5%).

Employees

11,380

Sector

Electric Utilities

Calendar

Jan. 21 - Q4 2025 Earnings Release (Projected)

More about the company