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.
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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.

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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.

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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.

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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.

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