Xcel Energy plans to keep electric rate flat through 2028

Goldman Sachs lowered its price target on Xcel Energy from $95 to $93. Barclays also reduced its target from $90 to $85. Xcel Energy's stock is currently at $75.36, up 0.96% over 5 days and 4.06% over a year.

Xcel Energy plans a $1.2 billion transmission project to modernize the Lamar DC Tie, boosting grid reliability and capacity. The project, partly funded by a $250 million federal grant, will triple the line's capacity and link Colorado with Texas. Costs will be passed to customers, with updates to follow.

Xcel Energy (XEL) is selling its Michigan operations to SEMCO and UPPCO. SEMCO will take over 6,000 natural gas customers, while UPPCO will handle 9,000 electric customers. Both companies assure no service interruption or billing changes. Regulatory approval is expected in six to eight months, according to UPPCO's business development director.

Xcel Energy (XEL) plans to sell its Michigan gas operations to SEMCO Energy and electric operations to Upper Peninsula Power. Terms were not disclosed. Approval from state regulators is required.

Texas PUC approved Southwestern Public Service Company's (SPS) plan to close its Tolk coal plant by early 2029 and replace it with 1,100 MW wind, 322 MW battery storage, and 189 MW solar, saving water and reducing costs. SPS, owned by Xcel Energy, aims to power 375,000 homes in Texas and New Mexico. The decision follows agreements with Sierra Club and regulatory approvals in New Mexico.

The U.S. Department of Energy plans to award $250 million to Colorado and Xcel Energy to enhance the electricity grid, part of a $1.2 billion project. The funds will upgrade transmission lines and substations, aiming to increase electricity flow into Colorado and lower costs. Xcel expects rising demand in the 2030s and plans billions in upgrades. The project is part of a larger $1.9 billion DOE initiative across 26 states.