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Yes.

In 2024, Xcel Energy’s total operating revenue in eight states was $13.4 billion, with $1.9 billion in net income. Xcel’s total operating revenue in 2023 was $14.2 billion, with a net income of almost $1.8 billion.

As »Ê¹Ú²©²ÊÍøַ’s largest energy provider, Xcel serves 1.6 million electric and 1.5 million natural gas customers in the state, generating $5.27 billion in operating revenue and $870 million in profit in 2024.  

In 2023, 42% of the energy Xcel generated for »Ê¹Ú²©²ÊÍøÖ· was carbon-free, most of it from wind. Around 32% of Xcel’s »Ê¹Ú²©²ÊÍøÖ· energy was generated from natural gas and an additional 26% from coal. 

Xcel has a total of 3.8 million electricity customers and 2.2 million natural gas customers nationwide. »Ê¹Ú²©²ÊÍøÖ· is among the highest-earning states for the company, generating over 50% of Xcel’s revenue in January to March 2025. 

See full source list below.

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References:

Xcel Energy 2024 Year End Earnings Report, Xcel Energy, Feb. 6, 2025.

Email to »Ê¹Ú²©²ÊÍøÖ·, Xcel Energy, May 22, 2025.

Utilities page, Northern »Ê¹Ú²©²ÊÍøÖ·, accessed in May 2025.

Generating Power, Xcel Energy, accessed in May 2025.

Xcel Energy First Quarter 2025 Earnings Report, Xcel Energy, Apr. 24, 2025.

Xcel customers face increasing outages and are waiting longer for support, »Ê¹Ú²©²ÊÍøÖ·, May 1, 2025. Source link.

Type of Story: Fact-Check

Checks a specific statement or set of statements asserted as fact.

Por recently graduated from CU Boulder with a master’s degree in journalism and is interested in writing about the environment and exploring local stories. When not working on some form of writing, Por is either looking for Thai food or petting...