Xcel Energy has reported 2022 GAAP and ongoing earnings of $1.74 billion, or $3.17 per share, compared with $1.60 billion, or $2.96 per share, in the same period in 2021.  Earnings reflect capital investment recovery and other regulatory outcomes, partially offset by increases in depreciation, interest charges and operating and maintenance (O&M) expenses.

“2022 was another solid year for Xcel Energy, where we delivered for our customers, our communities, our employees, and our investors. We delivered earnings of $3.17 per share, which is the 18th consecutive year we have met or beat our original earnings guidance,” said Bob Frenzel, Chairman, President and CEO of Xcel Energy.

“Our execution towards our clean energy future continues to lead the industry with regulatory approval in Colorado and the Upper Midwest by dramatically increasing the renewable energy available to our customers as we retire all of our coal-fired plants. And as a result of the energy tax provisions in the Inflation Reduction Act, we are able to reduce the cost to our customers over the assets’ lives by billions of dollars as we power the nation’s clean energy transition.” 
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