Xcel Energy Inc. is a major electric and natural gas utility company operating in the United States. The company has a rich history that dates back to the late 19th century. It was originally founded as the Denver Gas and Electric Company in 1909, and over the years, it went through various mergers and acquisitions, leading to its present form as Xcel Energy.
Xcel Energy's primary business involves generating, transmitting, and distributing electricity and natural gas to millions of customers across its service territories. The company serves customers in eight states, including Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas, and Wisconsin.
As a utility company, Xcel Energy plays a crucial role in providing reliable energy services to residential, commercial, industrial, and wholesale customers. They own and operate a diverse portfolio of power plants, including coal, natural gas, nuclear, wind, and solar facilities, which allows them to provide a mix of energy sources to meet the demands of their customers.
In addition to its core business of providing electricity and natural gas, Xcel Energy is committed to renewable energy and sustainability. The company has set ambitious goals to reduce its carbon emissions and transition towards cleaner energy sources. It is actively investing in renewable energy projects, such as wind and solar farms, to increase its renewable energy capacity and decrease its reliance on fossil fuels.