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Xcel Energy Reports Higher Q2 Electricity Sales, Lower Natural Gas Demand

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Xcel Energy (XEL) reported Q2 earnings Thursday, showing actual residential electric sales increased 2.4% from a year earlier, while weather-normalized residential electric sales rose 1.0% over the year.

Actual commercial and industrial electric sales increased 2.0% for the quarter ended June 30, compared with the year-ago quarter. Weather-normalized commercial and industrial electric sales rose 1.7% over the year, Xcel Energy said.

Actual total retail electric sales increased 2.1% from a year earlier. Weather-normalized total retail electric sales grew 1.5% over the year, according to the company.

Actual firm natural gas sales declined 7.8% from the year-earlier quarter. Weather-normalized firm natural gas sales fell 6.9% over the year, Xcel Energy added.

Xcel Energy expects weather-adjusted retail electric sales to increase about 3% over the year in 2026, while weather-adjusted firm natural gas sales should grow about 1%. The company also reaffirmed its full-year outlook.

The company placed Group 2 of the Colorado Power Pathway transmission project and Phase 3 of the Sherco Solar project into service.

Xcel Energy also advanced plans for about 2,600 megawatts of company-owned generation in Texas and New Mexico, the company said.

Xcel Energy plans to invest more than $70 billion through 2030, including about 11,400 megawatts of renewable generation, 3,400 megawatts of natural gas generation, 2,200 megawatts of energy storage and roughly 1,700 miles of transmission, according to the company.

Price: $78.45, Change: $-0.30, Percent Change: -0.38%

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