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.

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.

Environmental groups want Minnesota to prod Xcel Energy away from coal

Xcel Energy will soon need to purchase new pollution control equipment if the company wants to keep burning coal at its largest Minnesota power plant in Becker. Environmental groups want the state to order the utility to study alternatives to coal, especially solar and wind power.