Latest news with #BobFrenzel
Yahoo
5 days ago
- Business
- Yahoo
Xcel Energy Powering More of the Economy as Energy Transition Continues
Company has also reduced carbon emissions 57% since 2005 MINNEAPOLIS, June 05, 2025--(BUSINESS WIRE)--Xcel Energy is powering even more of the economy as it continues to reduce the carbon emissions from its operations, the company announced in its 20th annual Sustainability Report today. The company now provides reliable electric service to data centers, vehicle charging, home heating, natural gas development and other areas of the economy that spur growth and support opportunities for customers to choose cleaner energy sources. As it provides value to customers in new ways, Xcel Energy has also continued to reduce carbon emissions from the electricity it provides to customers, with carbon emissions 57% below 2005 levels. "We remain steadfast in our commitment to provide reliable, affordable, sustainable and safe energy to the millions of people we serve," said Bob Frenzel, chairman, president and chief executive officer of Xcel Energy. "We are particularly proud of the progress we have made on our journey to a carbon-free electricity future, and we have done so with the most expansive set of clean energy resources in the country, including wind, solar, nuclear, hydro and natural gas." The carbon reduction progress brings Xcel Energy closer to its industry-leading vision it established in 2018 to provide customers with 100% carbon-free electricity by 2050. "Whether you're a resident of a single-family home or a technology company powering a data center, the energy we provide enables you to choose cleaner alternatives for your home or business and drives our economy forward," Frenzel said. Maintaining reliability while adding renewable energy Xcel Energy remains committed to delivering reliable, low-cost energy to its customers. The company outperforms the industry reliability standard, restoring 92% of affected customers' power within 24 hours during active storm days, and has an overall electric service reliability of 99.98%. Its residential customers' electric bills are 28% below the national average and are among the lowest in the country, according to the U.S. Energy Information Administration. The company has also lowered customers' bills through cost-effective wind and solar projects. Xcel Energy now has enough wind capacity on its system to cost-effectively power more than 2.5 million homes, quadruple the amount it had in 2005. And, from 2017 to 2024, wind projects saved customers approximately $5 billion through avoided fuel costs and earned tax credits. "We have long been leaders in sustainability in this industry — without sacrificing affordability — and we're not slowing down now," said Jeff Lyng, vice president of external affairs and policy and chief sustainability officer. "Our customers and policymakers are asking more from us as our service plays an even larger role in their homes and businesses. We must continue to balance environmental responsibility with economic prosperity and community vitality." In 2024, Xcel Energy provided $187 million in customer rebates and incentives through programs that enable customers to embrace energy-efficient lighting, appliances and more. Customers installed more than 23,000 solar systems through the company's Solar*Rewards program, and the company also connected more than 193,000 customers to more than $175 million in energy assistance programs offered by the company and by public sources. Bringing jobs and investment to communities Xcel Energy engages with community members, businesses, organizations and civic and political groups across the 1,600 cities and counties it serves to better meet residents' energy needs, connect customers to programs that save money and energy, foster economic growth and build the future workforce. Xcel Energy helps the communities it serves prosper, working with landowners, developers, municipalities and economic development organizations to ease the path to locating or expanding businesses. The company spent $5.2 billion with small or local businesses in 2024, helped create nearly 3,200 new jobs and spurred $5.1 billion in additional capital investment. The company's economic development team initiated 24 projects across the eight states it serves, which will help grow industries such as data centers, food processing and manufacturing. Together with the Xcel Energy Foundation, employees and retirees, the company gave back to its communities, donating $14.5 million across the eight states it serves and its employees contributed $3 million in economic impact through volunteering for nonprofit and community improvement projects. Read the full Sustainability Report. About Xcel Energy Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit or follow us on X and Facebook. About Xcel Energy Foundation The Xcel Foundation is a 501(c)(3) organization that awards charitable grants to nonprofit organizations and sponsors the volunteer programs of Xcel Energy and its subsidiaries. The majority of Xcel Energy Foundation funding comes from Xcel Energy shareholder dollars. Learn more about the Foundation's Focus Area Grants. View source version on Contacts Xcel Energy Media Relations414 Nicollet Mall, 401-7Minneapolis, MN 55401(612) 215-5300mediainquiries@ Sign in to access your portfolio
Business Wire
5 days ago
- Business
- Business Wire
Xcel Energy Powering More of the Economy as Energy Transition Continues
MINNEAPOLIS--(BUSINESS WIRE)--Xcel Energy is powering even more of the economy as it continues to reduce the carbon emissions from its operations, the company announced in its 20 th annual Sustainability Report today. The company now provides reliable electric service to data centers, vehicle charging, home heating, natural gas development and other areas of the economy that spur growth and support opportunities for customers to choose cleaner energy sources. As it provides value to customers in new ways, Xcel Energy has also continued to reduce carbon emissions from the electricity it provides to customers, with carbon emissions 57% below 2005 levels. 'We remain steadfast in our commitment to provide reliable, affordable, sustainable and safe energy to the millions of people we serve,' said Bob Frenzel, chairman, president and chief executive officer of Xcel Energy. 'We are particularly proud of the progress we have made on our journey to a carbon-free electricity future, and we have done so with the most expansive set of clean energy resources in the country, including wind, solar, nuclear, hydro and natural gas.' The carbon reduction progress brings Xcel Energy closer to its industry-leading vision it established in 2018 to provide customers with 100% carbon-free electricity by 2050. 'Whether you're a resident of a single-family home or a technology company powering a data center, the energy we provide enables you to choose cleaner alternatives for your home or business and drives our economy forward,' Frenzel said. Maintaining reliability while adding renewable energy Xcel Energy remains committed to delivering reliable, low-cost energy to its customers. The company outperforms the industry reliability standard, restoring 92% of affected customers' power within 24 hours during active storm days, and has an overall electric service reliability of 99.98%. Its residential customers' electric bills are 28% below the national average and are among the lowest in the country, according to the U.S. Energy Information Administration. The company has also lowered customers' bills through cost-effective wind and solar projects. Xcel Energy now has enough wind capacity on its system to cost-effectively power more than 2.5 million homes, quadruple the amount it had in 2005. And, from 2017 to 2024, wind projects saved customers approximately $5 billion through avoided fuel costs and earned tax credits. 'We have long been leaders in sustainability in this industry — without sacrificing affordability — and we're not slowing down now,' said Jeff Lyng, vice president of external affairs and policy and chief sustainability officer. 'Our customers and policymakers are asking more from us as our service plays an even larger role in their homes and businesses. We must continue to balance environmental responsibility with economic prosperity and community vitality.' In 2024, Xcel Energy provided $187 million in customer rebates and incentives through programs that enable customers to embrace energy-efficient lighting, appliances and more. Customers installed more than 23,000 solar systems through the company's Solar*Rewards program, and the company also connected more than 193,000 customers to more than $175 million in energy assistance programs offered by the company and by public sources. Bringing jobs and investment to communities Xcel Energy engages with community members, businesses, organizations and civic and political groups across the 1,600 cities and counties it serves to better meet residents' energy needs, connect customers to programs that save money and energy, foster economic growth and build the future workforce. Xcel Energy helps the communities it serves prosper, working with landowners, developers, municipalities and economic development organizations to ease the path to locating or expanding businesses. The company spent $5.2 billion with small or local businesses in 2024, helped create nearly 3,200 new jobs and spurred $5.1 billion in additional capital investment. The company's economic development team initiated 24 projects across the eight states it serves, which will help grow industries such as data centers, food processing and manufacturing. Together with the Xcel Energy Foundation, employees and retirees, the company gave back to its communities, donating $14.5 million across the eight states it serves and its employees contributed $3 million in economic impact through volunteering for nonprofit and community improvement projects. Read the full Sustainability Report. About Xcel Energy Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit or follow us on X and Facebook. About Xcel Energy Foundation The Xcel Foundation is a 501(c)(3) organization that awards charitable grants to nonprofit organizations and sponsors the volunteer programs of Xcel Energy and its subsidiaries. The majority of Xcel Energy Foundation funding comes from Xcel Energy shareholder dollars. Learn more about the Foundation's Focus Area Grants.
Yahoo
30-05-2025
- Business
- Yahoo
Xcel Energy shows off new facility on Minnesota Avenue
SIOUX FALLS, S.D. (KELO) — During a thunderstorm or an ice storm, there's always a chance you could lose electricity and nobody likes that. But one electric company is promising faster response times thanks to its new multi-million dollar state of the art facility in Sioux Falls where they held a ribbon cutting Thursday. Xcel Energy is on a bit of a 'power trip'. Major gold find near Spearfish, South Dakota reported 'Xcel Energy has been powering Sioux Falls for over 120 years and we are growing with Sioux Falls,' Xcel Energy CEO Bob Frenzel said. Today, Xcel showed off its new massive facility along North Minnesota Avenue. 'This is a state-of-the-art facility designed to enable our teams here in Sioux Falls and joining regions to recover from storms quickly, but also to build and construct the infrastructure for all the new businesses and economic development coming to the region,' Frenzel said. Xcel Energy serves eight states with nearly $105,000 of it's customers just in South Dakota. This new facility will allow linemen to better prepare for the unexpected if disaster strikes; like during the ice storm back in 2013. 'Obviously when you are getting ready for a storm or you have an outage or anything like that, if you're going to have to load up outside, it's going to take you more time, it's harder on the linemen, it's harder on everyone,' Xcel Energy State Director Steve Kolbeck said. The new facility is phase one, phase two is going to be renovating the old headquarters where linemen can hold safety and disaster briefings. During the derechos a few years ago, 23 hundred linemen from other states responded to South Dakota, providing mutual aid. Now with this new facility, including this huge warehouse, Xcel says it'll be better equipped to keep your lights on if and when disaster strikes. To learn more about Xcel Energy's new facility or to report an outage, click here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
23-05-2025
- Business
- Yahoo
Xcel Energy Raises Dividend Amid Strong Growth and Expanding Power Demand
Xcel Energy Inc. (NASDAQ:XEL) announced on May 21 that its Board of Directors approved a quarterly dividend of 57 cents per share. This is a 4.1% increase from the previous amount, 54.75 cents. The hike marks Xcel Energy's 22nd consecutive year of dividend increases. CEO Bob Frenzel stated that the increase reflects the board's confidence in the utility's long-term growth strategy and continued operational excellence. The dividend boost follows strong Q1 2025 performance. The company posted $0.84 per share in earnings and invested $2.3 billion in energy infrastructure. A close-up of an electrical power line with a bright blue sky in the background, highlighting the company's selection of electricity and natural gas services. Frenzel said in the Q1 2025 earnings call that the company stares at immense growth opportunities as electric demand surges across its service territories. Xcel Energy anticipates needing to deliver between 15,000 and 29,000 megawatts of new generation by 2031 to serve customers. To that end, the company has obtained regulatory approvals for various projects, including a Minnesota settlement for nearly 5,000 megawatts of power generation. Xcel Energy Inc. (NASDAQ:XEL) is an American electric and natural gas utility company. It serves millions of customers (residential, commercial, and industrial) across eight US states. While we acknowledge the potential of Xcel Energy Inc. (NASDAQ:XEL) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than XEL and that has 100x upside potential, check out our report about the . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None.
Yahoo
30-04-2025
- Business
- Yahoo
Leading through uncertainty: Advice from Xcel Energy's CEO, a former CFO
Good morning. More finance chiefs are being considered for chief executive roles. But the C-suite trend of CFO-to-CEO increasingly includes execs with operational acumen of the core business and strategy experience, in addition to finance. Take, for instance, Bob Frenzel, CEO of Xcel Energy (No. 302 on the Fortune 500), one of the largest public utilities in the country. Frenzel joined the company in 2016 as EVP and CFO. In 2020, he began serving as president and chief operating officer, where he led Xcel Energy's four utility operating companies, in addition to the transmission, distribution, and natural gas operations. Frenzel was promoted to chairman, president, and CEO in 2021. His operational experience first began after college when he served in the U.S. Navy for six years, working as a nuclear engineering officer and weapons officer. Frenzel's CFO roots continue to serve him well. "We spend a lot of time thinking about the cost of capital," he said of Xcel Energy during a fireside chat last week at Semafor's World Economy Summit in Washington, D.C. "We deploy probably $10 billion of capital a year. As an industry, we're probably $200 billion a year of capital deployment." U.S. electricity demand is projected to grow by 3% annually through 2030 following decades of stagnation, driven by the adoption of new devices and technologies, Al-driven data centers and the resurgence of manufacturing, according to the company's latest white paper. Following his talk, I asked Frenzel about what prepared him for the CEO role and his thoughts on leading during uncertain times. Here's what he had to say:I attended the University of Chicago to get an MBA and our accounting professor there, who is world-renowned, would say that accounting is the language of business, and sometimes business is the language of leadership. As a company, we're very capital-intensive, one of the most capital-intensive industries in the United States. And so understanding how to raise capital, deploy capital, manage budgets, and balance budgets, is important in the business, and it could be in making electricity or making a manufacturing device. I think having that financial background is very helpful.I'm a recovering CFO, but I'm also a nuclear engineer, so I did start my career in making electricity. I always like to think I've been making electricity for three decades. Yes, in this industry, having a background in energy, generation, transmission, engineering, or construction, all those things are things that we do, is at the big picture, the skill sets to become a CEO are broad. But not everybody comes in with the full slate of all the skills you need to be the CEO of any company. You have to be able to hire great talent, understand where your blind spots might be in terms of your own skills and talent, and then fill those spots with great people. And, where you have more expertise, you may be able to lean on yourself a little bit more, as opposed to your team. I think having great teams, whether it's a finance, communications, or HR team, is necessary for a CEO to be I come to work and I talk to my team or the broad organization, it's about focus. There's just so much news media, there's so much social media, and it's kind of all the time on and you can see how it wears on people. I know that if we show up and deliver for our customers, we keep the customer at the center of everything we do, and we focus on delivering our life-essential product to our customers when and where they need it, at a price that's as low as possible, then I know we can deal with all the uncertainty that comes—whether it's a headline or it's a financial challenge. Sheryl This story was originally featured on Sign in to access your portfolio
