XEL News & Events

The board of directors of Xcel Energy raised the quarterly dividend on the company's common stock from 57c per share to 59.25c per share, which is equivalent to an annual rate of $2.37 per share. The dividends are payable April 20 to shareholders of record on March 13. "Xcel Energy is rewarding its shareholders with higher dividends for the twenty third consecutive year. It was made possible by our more than 11,000 employees striving daily to make energy work better for our customers, and reflects confidence in our long-term growth strategy and financial strength. We are committed to providing predictable and sustainable dividend growth, continuing to target annual dividend increases of 4-6 percent and a payout ratio of 45-55 percent," said Bob Frenzel, chairman, president and CEO of Xcel Energy.

Google (GOOGL) announced two new data centers in Wilbarger County, Texas and Pine Island, Minnesota. "We're expanding our longstanding presence in Texas with a new data center under construction in Wilbarger County and agreements to support local energy resilience, anchored by a focus on water security and energy affordability," the company said in a blog post. "The data center will use advanced air-cooling technology, limiting water consumption to only critical campus operations like kitchens. It will be co-located with - or built alongside - new clean power developed by AES (AES)." The company said in a separate post that Pine Island, Minnesota will be the future home of a Google data center. In collaboration with the city and Xcel Energy (XEL), the search giant is "committed to bringing high-quality jobs, economic growth and education initiatives to the community." "With Xcel Energy supplying energy for the new data center, Google will pay all costs associated with our electric service," Google said. "In order to accelerate clean energy deployment without shifting costs to local customers, Google and Xcel Energy designed a new contract structure in Minnesota, the Clean Energy Accelerator Charge (CEAC), a model that uses the same structure as the Clean Transition Tariff (CTT) Google developed with NV Energy."

Xcel Energy (XEL) announced it will power a new Google (GOOGL) data center in Pine Island, Minnesota. The data center and associated Electric Service Agreement will provide a significant contribution to the state's economy, including a large buildout of new clean energy projects that will contribute to Minnesota's clean energy goals while ensuring that Xcel Energy's current customers benefit as a result of this growth.

Attorney General Ken Paxton has negotiated an agreed temporary injunction against Southwestern Public Service Company, which does business in Texas as Xcel Energy, to require the utility company to take immediate action to protect Texans from potential wildfire risks. "Under the terms of the injunction, Xcel is required to immediately replace damaged and dilapidated utility poles and conduct rigorous and thorough large-scale inspections and to replace utility poles that pose an unreasonable risk of causing additional wildfires in the Texas Panhandle. The injunction will be effective immediately, helping ensure Xcel will be as aggressive as possible in addressing any at-risk poles in the Texas Panhandle," the AG announced.