Skip to main content

Hot weather is cool cash for Xcel Energy

Xcel Energy's second-quarter earnings increased 16 percent despite a 7 percent drop in revenue, the Minneapolis-based utility reported Thursday. Xcel said earnings increased in part due to rate increases and warmer-than-normal weather across Xcel's territory, which spans eight western and Midwestern states including Minnesota.
  • Author:
  • Updated:
    Original:

Xcel Energy's second-quarter earnings increased 16 percent despite a 7 percent drop in revenue, the Minneapolis-based utility reported Thursday. Xcel said earnings increased in part due to rate increases and warmer-than-normal weather across Xcel's territory, which spans eight western and Midwestern states including Minnesota.

Next Up

Screen Shot 2021-05-27 at 9.29.03 AM

Former state senator Scott Jensen endorsed by GOP for governor

Jensen beat to multiple other hopefuls for the endorsement at Saturday's convention.

storm

NWS already monitoring Thursday for severe weather in MN

Monday-Wednesday should be fantastic weather in Minnesota.

MissingMankatoWomanSideBySide

Body of missing Mankato woman believed to have been found

A canoer found the body in a swamp near Eagle Lake Friday.

kim crockett facebook sos

MN GOP endorses attorney general, secretary of state candidates

Kim Crockett was endorsed as the party's candidate for secretary of state, while Jim Schultz won the endorsement for attorney general.

FSmb9kkWAB0UBqk

Volunteer firefighter identified as man killed during Thursday storms

The Kandiyohi County Sheriff's Office confirmed that 63-year-old Ryan Erickson died when a grain bin fell on him.

Juan Ramos, standing outside of his Taco Chon Mexican Grill, in St. Cloud, Minnesota.

Firm takes on case defending Taco Chon against Taco John's lawsuit

The local Mexican restaurant is fighting a case presented by Taco John's over naming rights, among other things.

Screen Shot 2022-05-14 at 7.32.27 AM

Worker killed in skid loader accident was 23-year-old apprentice lineman

Minnesota Valley Electric Cooperative called the incident "the unthinkable."

Cascade River 1

Raging North Shore rivers overtake bridges, snap trees in half

Pedestrian bridges near the Lutsen Resort have been damaged by the vast river flow.

u.s. attorney's office

St. Paul man sentenced for 2021 robbery spree

Warren Dean, 27, admitted to robbing seven St. Paul businesses in a span of three days.

Related

Xcel Energy's profit jumps nearly 18 percent in third-quarter

Reduced operating expenses over the summer months helped boost Xcel Energy Inc.'s third-quarter earnings, Dow Jones News reports. The Minneapolis-based utility earned $398 million, up nearly 18 percent from $338.3 million a year earlier.

Xcel Energy profits slip nearly 10 percent

The Minneapolis-based utility reports first-quarter earnings of $184 million compared to $204 million in 2011. Xcel says the drop was expected because we had one of the warmest winters on record.

Xcel Energy approved to increase electricity prices 2.7 percent

The Minnesota Public Utilities Commission unanimously approved the rate increase, but it's actually less than half what the Minneapolis-based utility originally requested. The Star Tribune reports the average residential customer will get a $30 refund because they've already been paying a higher interim rate.

Xcel Energy significantly reduces proposed rate hike

The deal still needs approval by the state Public Utilities Commission. If approved, the average Xcel residential customer would see a 2.7 percent rate increase -- or an additional $2.30 a month.

Xcel Energy sends crews to East Coast

Minneapolis-based Xcel Energy says about three-dozen crew members from Minnesota and another eight from western Wisconsin are headed to West Virginia to help rebuild electricity distribution systems destroyed by East Coast superstorm, Fox 9 reports. Roughly 6.5 million people from Maine to the Carolinas were still without power as of early Wednesday morning.