Xcel Energy was founded in 1998 and is headquartered in Minneapolis, Minnesota. It is a utility holding company that serves more than 3.3 million electric customers and 1.8 million natural gas customers. Its services span eight different states. It is a public electricity and natural gas utility provider with Ben Fowke serving as Chairman, CEO, and President. Additionally, it is working directly with customers and various communities to try to solve environmental concerns in an effort to plan for a cleaner energy future.
There are a number of electricity products available through Xcel Energy. The company offers power generation, which is a diverse mix of energy sources and is how the electricity Xcel provides is actually made. Xcel Energy also has its own power plants and distribution outlets. This takes the electricity it generates and supplies it to your home. The company also provides nuclear energy which is clean, safe, reliable, and carbon-free. Its transmission system allows for power to spread across long distances.
Currently, there are a number of natural gas projects funded by Xcel Energy. Its sewer and septic line investigation project keeps gas lines safe by ensuring it is clear from sewer and septic lines. Xcel Energy can help users make the switch over to natural gas as well. Its natural gas energy is completely clean-burning and abundant natural gas.
With Xcel Energy, customers may be able to take advantage of the four types of renewable energy available. The company's renewable energy sources ensure the delivery of clean energy in an economical way. Renewable energy allows for cleaner energy option and more control over energy use. The available forms of renewable energy include the following:
Xcel Energy is also engaged in a renewable development fund. This fund promotes the creation, expansion, and attraction of renewable energy projects.
While the fixed rates for Xcel Energy services are unknown, there is information on the variable rates. The electricity variable rates are 7¢/kWh while the natural gas variable rates start at 2.3¢/kWh. These rates are extremely competitive with even the largest providers in the country.
A drawback to the Xcel platform is the fact that it does not operate on a national level, limiting customers' access to its products. As of now, Xcel Energy only operates in Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas, and Wisconsin. If you do not live in one of these states, you will not be able to use the Xcel Energy service.
While it is not unusual for an energy provider to require a contract upon signing up with its service, there are still providers out there that offer month-to-month solutions. However, Xcel Energy is not one of these providers. Xcel Energy requires a minimum of 12-month contracts and there are no contracts available for longer than 12 months. This means that Xcel Energy customers can only obtain a year-long contract upon renewal as well.
Xcel Energy provides a number of energy products for its customers to take advantage of. For residents of the states where Xcel Energy operates, looking into its energy solutions and services could be beneficial. Only variable rates are known, but if the monthly costs work out in your favor, then Xcel Energy may be a viable option.
Nicholas "C" Corbell Westminster, CO
4 years ago
Glen Dexter, NM
4 years ago
Kelsey Ramirez Amarillo, TX
5 years ago
Brandon Boiteau Chippewa Falls, WI
4 years ago
Troy Siren Gilbert, AZ
4 years ago Edited September 14, 2021
States Serviced by Xcel Energy
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