What is the primary business of Xcel Energy Inc.?

Xcel Energy Inc. is a holding company with regulated utility operations in electric and natural gas services across 12 states. It also has significant non-regulated investments in areas such as independent power production through NRG Energy, Inc.

What was the significance of the merger in 2000?

The merger of New Century Energies, Inc. (NCE) and Northern States Power Co. (NSP) in August 2000 created Xcel Energy Inc. This transaction was accounted for as a pooling-of-interests and formed the basis for the current corporate structure, integrating the operations of the two predecessor companies.

How is Xcel Energy regulated?

Xcel Energy is subject to regulation by the SEC under the Public Utility Holding Company Act (PUHCA), as well as by federal agencies like the FERC and numerous state public utility commissions for its utility operations. These regulations cover rates, services, securities issuances, and other aspects of its business.

What are Xcel Energy's major non-regulated businesses?

The largest non-regulated business is NRG Energy, Inc., an independent power producer. Other non-regulated subsidiaries include Seren Innovations (telecommunications), e prime (energy marketing and trading), and Planergy International (energy management services).

How is Xcel Energy addressing industry restructuring?

Xcel Energy is actively responding to state-level initiatives for electric and natural gas industry restructuring. This involves adapting to unbundling of services, potential divestiture of generation assets, and evolving competitive market structures across its service territories.

XEL/XELLL 10-K FY2000 Annual Report — Revenue, Net Income, EPS

Summary

Xcel Energy Inc. (XEL), formed in August 2000 through the merger of New Century Energies, Inc. (NCE) and Northern States Power Co. (NSP), is a registered holding company under the Public Utility Holding Company Act (PUHCA). The company operates six utility subsidiaries serving customers across 12 states, providing both electric and natural gas services. In addition to its regulated utility operations, Xcel Energy has a significant portfolio of non-regulated businesses, most notably an 82% indirect ownership in NRG Energy, Inc., an independent power producer. The company's strategic focus is on providing energy and service solutions, advancing customer productivity, fostering employee growth, and enhancing shareholder value through its guiding principles.

Key Highlights

1Merger Completion: Xcel Energy Inc. was formed on August 18, 2000, through the merger of New Century Energies, Inc. (NCE) and Northern States Power Co. (NSP).

2Diversified Operations: The company operates regulated electric and natural gas utilities across 12 states, alongside a growing portfolio of non-regulated businesses, including a significant stake in NRG Energy, Inc.

3Regulatory Environment: Xcel Energy's utility operations are subject to extensive regulation by federal and state agencies, including the SEC, FERC, and various state public utility commissions.

4Fuel Mix: The company utilizes a mix of fuel sources for electricity generation, including coal, nuclear, natural gas, and oil, with a focus on meeting renewable energy mandates.

5Non-Regulated Investments: Significant investments are made in non-regulated businesses like NRG Energy, Seren Innovations, e prime, and Planergy International, which introduce both growth opportunities and higher risk profiles.

6Market Restructuring: Xcel Energy is navigating significant changes in the electric and natural gas industries due to state-level restructuring initiatives, which aim to introduce retail competition and unbundle services.

XCEL ENERGY INC Annual Report, Year Ended Dec 31, 2000

Summary

Key Highlights

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