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Friday, May. 30, 2025

Does Xcel make more than $1B in profit annually?

Por Jaijongkit, The Colorado Sun
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 Colorado’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 Colorado was carbon-free, most of it from wind. Around 32% of Xcel’s Colorado 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. Colorado is among the highest-earning states for the company, generating over 50% of Xcel’s revenue in January to March 2025. 

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