Xcel Energy : 2024 Sustainability Report Full Report
XEL
Published on 06/06/2025 at 14:19
2024 SUSTAINABILITY REPORT
Table of Contents
Introduction
About Xcel Energy 3
Message from Our CEO 5
Sustainability Strategy 7
Clean Energy Vision
10
Strengthen Communities
Appendix
Carbon-Free Energy
18
Affordability and Energy Savings
47
About this Report
76
Technology and Innovation
21
Reliability and Resiliency
51
Forward-Looking Statements
77
Environmental Stewardship
24
Public Safety and Security
55
What You Can Do
78
Community Impact
57
Glossary
79
Governance
84
Position Statements and Policies
86
Compliance Activity
87
Data Summary
88
Reach Net Zero Responsibly
Value People
Workforce Safety 33
Employee Experience 36
Workforce Planning 40
Culture and Belonging 42
Operate with Integrity
Sustainability Oversight and Governance 62
Public Policy 66
Supply Chain Partnerships 70
2024 Sustainability Report | 2
Ethics and Compliance 73
About Xcel Energy
Xcel Energy powers 1,600 communities with safe, reliable, low-cost energy that's increasingly clean. In 2018, we became the first major U.S. power company with a vision for providing 100% carbon-free electricity. Since then, we've expanded on that commitment to become the first in our industry with comprehensive goals
to reach net-zero emissions across electricity, natural gas use in buildings and transportation.
Xcel Energy is a major U.S. electricity and natural gas company based in Minneapolis, Minnesota. Through four regulated operating companies across eight Western and Midwestern states, we offer a comprehensive portfolio of energy-related products and services to millions of customers.
Northern States Power Co.-Minnesota
Northern States Power Co.-Wisconsin
electric customers
electric transmission lines
electric distribution lines
natural gas customers
natural gas transmission lines
natural gas distribution lines
Public Service Co. of Colorado
Southwestern Public Service Co.
57% carbon emissions reduction (from 2005 levels)
52% carbon-free energy mix
$7.6B in system upgrades
$5.2B spent with local or small suppliers
$5B customer savings from wind energy (since 2017)
$175M energy assistance
$4.6M Xcel Energy Foundation grants
20 consecutive years met or exceeded ongoing EPS guidance
Ethisphere World's Most Ethical Companies® Fortune World's Most Admired Companies Military Friendly Employer by VIQTORY
Best for Vets by Military Times
Score of 100 on the Disability Index®
Our customers Our people Our performance
We will be the trusted and preferred provider of energy our customers need.
To make energy work better for our customers, helping them thrive every day.
Connected Committed Trustworthy Safe
Turn on any news channel or skim social media, and you'll see that energy - and its future - has become a dinner table conversation. But, through all the headlines and noise, we have not lost sight of our core mission - to make energy work better for our customers and to serve them with reliable, safe energy at the lowest possible cost.
For more than 150 years, Xcel Energy has delivered on that mission for our customers. And, since we announced our bold, industry-leading vision to deliver 100% carbon-free electricity to customers by 2050, we have led our communities in transitioning
to cleaner energy in ways that will benefit them - and the environment - well into the future.
Today, as we celebrate the 20-year anniversary of our Sustainability Report, I'd like to take a moment to reflect on how far we've come:
Twenty years ago, we connected our customers with $20 million in public energy assistance. In 2024, that number reached a staggering $175 million for 193,000 customers.
In 2005, we had nearly 1,100 megawatts of wind capacity on our system. Today, our owned wind capacity has quadrupled - with enough to power more than
2.5 million homes - and accounting for one-third of our energy mix.
In 2005, our energy mix was 17% carbon-free - as of 2024, we had more than doubled the clean energy on our system, adding up to a mix that is 52% carbon-free.
2024 Sustainability Report | 5
Today, as our nation calls on the energy industry to build the grid of the future, we are prepared to meet this challenge while continuing to serve customers and advance the economic growth and prosperity of the 1,600 cities and counties we serve.
Disclaimer
Xcel Energy Inc. published this content on June 06, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 06, 2025 at 18:18 UTC.