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Xcel Energy is a major U.S. regulated electric and natural gas delivery company headquartered in Minneapolis, Minnesota, serving customers in eight states through its four utility subsidiaries: NSP-Minnesota, NSP-Wisconsin, PSCo, and SPS . The company operates in two primary segments: Regulated Electric and Regulated Natural Gas, focusing on generating, transmitting, and distributing electricity, as well as transporting, storing, and distributing natural gas . Xcel Energy's primary focus is on electricity generation and distribution, which accounts for the majority of its revenue .
- Regulated Electric - Generates, transmits, and distributes electricity across several states, including Minnesota, Wisconsin, Michigan, North Dakota, South Dakota, Colorado, Texas, and New Mexico, and includes wholesale commodity and trading operations.
- Regulated Natural Gas - Transports, stores, and distributes natural gas primarily in Minnesota, Wisconsin, North Dakota, Michigan, and Colorado.
- All Other - Includes smaller revenue streams such as steam revenue, appliance repair services, and non-utility real estate activities.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Robert C. Frenzel ExecutiveBoard | Chairman of the Board, President, and CEO | Board Member at Patterson Companies, Inc. | Joined XEL in 2016 as EVP and CFO; became President and CEO in August 2021 and Chairman in December 2021. Leads XEL's clean energy transition and corporate strategy. | View Report → |
Amanda Rome Executive | EVP, Group President, Utilities & CCO | Board Member at Energy Insurance Mutual and University of Idaho Energy Course | Joined XEL in 2015; promoted to EVP, Group President, Utilities & CCO in October 2023. Previously served as Chief Legal and Compliance Officer. | |
Brian J. Van Abel Executive | EVP and CFO | None | EVP and CFO since 2020. Oversees financial operations, including accounting, tax, and corporate development. | |
Patricia Correa Executive | SVP and Chief Human Resources Officer | None | Joined XEL in February 2022. Previously held senior HR roles at Eaton Corporation. | |
Timothy O’Connor Executive | EVP and COO | None | EVP and COO since August 2021. Previously served as EVP, Chief Generation Officer, and Chief Nuclear Officer. | |
Charles Pardee Board | Director | Chair of the Committee on Nuclear Power for Emirates Nuclear Energy Corporation | Director at XEL since 2020. Former COO at Tennessee Valley Authority and Exelon Generation. | |
Christopher J. Policinski Board | Director | Director at Hormel Foods Corporation | Director at XEL since 2009. Former President and CEO of Land O'Lakes, Inc. and current CEO of CJP Leadership Partners, LLC. | |
Daniel Yohannes Board | Director | Director at Dow Inc. | Director at XEL since 2017. Former U.S. Ambassador to OECD and CEO of Millennium Challenge Corporation. | |
Devin Stockfish Board | Director | President, CEO, and Board Member at Weyerhaeuser Co. | Director at XEL since January 2025. CEO of Weyerhaeuser Co. since 2019, with expertise in sustainable forest management and corporate strategy. | |
George J. Kehl Board | Director | None | Director at XEL since 2020. Former Office Managing Partner at KPMG LLP, with expertise in financial reporting and auditing. | |
James Prokopanko Board | Director | Director at Regions Financial Corporation and Vulcan Materials Company | Director at XEL since 2015. Former President and CEO of The Mosaic Company. | |
Kim Williams Board | Lead Independent Director | Director at Weyerhaeuser Corporation and E.W. Scripps Company | Director at XEL since 2009; became Lead Independent Director in 2023. Former Partner at Wellington Management Company LLP. | |
Lynn Casey Board | Director | None | Director at XEL since 2018. Former Chair and CEO of Padilla, with expertise in brand strategy and crisis communications. | |
Megan Burkhart Board | Director | EVP and CAO at Comerica Incorporated | Director at XEL since June 2022. Oversees HR, DEI, and corporate responsibility at Comerica. | |
Patricia L. Kampling Board | Director | Director at American Water Works Co. Inc. and Fidelity Equity and High Income Funds | Director at XEL since 2020. Former Chairman and CEO of Alliant Energy Corporation. | |
Richard T. O’Brien Board | Director | Director at Vulcan Materials Company and New Gold Inc. | Director at XEL since 2012. Former CEO of Newmont Mining Corporation and independent consultant since 2015. | |
Timothy Welsh Board | Director | Vice Chair at U.S. Bancorp, Chair of GREATER MSP, Vice Chair of Allina Health | Director at XEL since August 2023. Vice Chair for Consumer and Business Banking at U.S. Bancorp and founder of the Itasca Project. |
- Given the significant increase in O&M expenses, particularly from wildfire mitigation and storm expenses leading to a revised forecast of a 3% to 4% increase over 2023, what specific measures are you implementing to control these rising costs and ensure they don't negatively impact your earnings growth targets?
- With the tripling of excess liability insurance premiums and a reduction in capacity, along with $215 million in estimated accrued liabilities from the Smokehouse Creek wildfire, how do you plan to manage the financial impact of potential future wildfire events, and are you confident in your ability to secure regulatory approval for cost recovery?
- You issued $1.1 billion of equity through your ATM program this year, which is not part of your 2025 to 2029 financing plan; can you explain the rationale behind this unexpected equity issuance and how it affects your capital structure and shareholder dilution?
- You've updated your long-term EPS growth objective to 6% to 8% with expectations to deliver earnings in the upper half of the range, yet you've modified your dividend growth objective to 4% to 6% and expect to be at the low end; could you discuss the reasons for lowering dividend growth and how this decision balances shareholder returns with funding your capital investment plan?
- Considering your significant reliance on data center load growth, with nearly 9,000 megawatts of opportunities and 50% of your 5% per year electric sales growth coming from data centers, what are the risks if these large data center loads do not materialize as expected, and how are you mitigating potential demand fluctuations from these customers?
Recent press releases and 8-K filings for XEL.
- XCEL Energy Inc. issued $350 million of 4.75% Senior Notes due March 21, 2028 and $750 million of 5.60% Senior Notes due April 15, 2035 as part of its recent debt issuance, with details confirmed in legal opinion and registration documents.
- The transactions are structured under an underwriting agreement with representatives including BMO Capital Markets Corp., MUFG Securities Americas Inc., and Wells Fargo Securities, LLC, and are supported by supplemental indentures and related exhibits.