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Recurring Fair Value Measurements (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Derivatives, Fair Value [Line Items]          
Obligation to return cash $ 0   $ 0   $ 0
Right to reclaim cash 12   12   16
Commodity Trading          
Changes in Level 3 Commodity Derivatives [Roll Forward]          
Balance at beginning of period 76 $ 12 56 $ (11)  
Settlements [1] (73) (19) (92) (26)  
Gains recognized in earnings (b) [2] 41 33 91 63  
Net gains recognized as regulatory assets and liabilities (a) [1] 28 12 18 12  
Balance at end of period 230 92 230 92  
Purchases/Issuances (a) [1] 158 54 157 $ 54  
Other Current Assets          
Derivatives, Fair Value [Line Items]          
Derivative asset 204   204   53
Other Current Liabilities          
Derivatives, Fair Value [Line Items]          
Derivative liability 99   99   35
Other Noncurrent Liabilities          
Derivatives, Fair Value [Line Items]          
Derivative liability 103   103   71
Fair Value Measured on a Recurring Basis | Level 3          
Changes in Level 3 Commodity Derivatives [Roll Forward]          
Transfers level 3, net   $ 0 0    
Fair Value Measured on a Recurring Basis | Other Current Assets          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 365   365   107
Netting, asset [3] (163)   (163)   (54)
Derivative asset 202   202   53
Fair Value Measured on a Recurring Basis | Other Current Assets | Level 1          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 32   32   9
Fair Value Measured on a Recurring Basis | Other Current Assets | Level 2          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 128   128   46
Fair Value Measured on a Recurring Basis | Other Current Assets | Level 3          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 205   205   52
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 221   221   71
Netting, asset [3] (160)   (160)   (53)
Derivative asset 61   61   18
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Electric Commodity          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 144   144   30
Netting, asset [3] (3)   (3)   (1)
Derivative asset 141   141   29
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Natural Gas Commodity          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 0   0   6
Netting, asset [3] 0   0   0
Derivative asset 0   0   6
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 1 | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 32   32   9
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 1 | Electric Commodity          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 0   0   0
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 1 | Natural Gas Commodity          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 0   0   0
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 2 | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 128   128   40
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 2 | Electric Commodity          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 0   0   0
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 2 | Natural Gas Commodity          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 0   0   6
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 3 | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 61   61   22
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 3 | Electric Commodity          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 144   144   30
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 3 | Natural Gas Commodity          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 0   0   0
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 154   154   75
Netting, asset [3] (81)   (81)   (42)
Derivative asset 73   73   33
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Level 1          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 26   26   6
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Level 2          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 49   49   34
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Level 3          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 79   79   35
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Other Derivative Instruments | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 154   154   75
Netting, asset [3] (81)   (81)   (42)
Derivative asset 73   73   33
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Other Derivative Instruments | Level 1 | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 26   26   6
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Other Derivative Instruments | Level 2 | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 49   49   34
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Other Derivative Instruments | Level 3 | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative asset, gross 79   79   35
Fair Value Measured on a Recurring Basis | Other Current Liabilities          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 222   222   80
Netting, liability [3] (137)   (137)   (59)
Derivative liability 85   85   21
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Level 1          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 35   35   13
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Level 2          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 173   173   62
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Level 3          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 14   14   5
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 218   218   75
Netting, liability [3] (134)   (134)   (58)
Derivative liability 84   84   17
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Electric Commodity          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 3   3   1
Netting, liability [3] (3)   (3)   (1)
Derivative liability 0   0   0
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Natural Gas Commodity          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 1   1   4
Netting, liability [3] 0   0   0
Derivative liability 1   1   4
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 1 | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 35   35   13
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 1 | Electric Commodity          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 0   0   0
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 1 | Natural Gas Commodity          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 0   0   0
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 2 | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 172   172   58
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 2 | Electric Commodity          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 0   0   0
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 2 | Natural Gas Commodity          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 1   1   4
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 3 | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 11   11   4
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 3 | Electric Commodity          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 3   3   1
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 3 | Natural Gas Commodity          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 0   0   0
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 164   164   89
Netting, liability [3] (93)   (93)   (53)
Derivative liability 71   71   36
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Level 1          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 47   47   15
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Level 2          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 77   77   48
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Level 3          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 40   40   26
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Other Derivative Instruments | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 164   164   89
Netting, liability [3] (93)   (93)   (53)
Derivative liability 71   71   36
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Other Derivative Instruments | Level 1 | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 47   47   15
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Other Derivative Instruments | Level 2 | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 77   77   48
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Other Derivative Instruments | Level 3 | Commodity Trading          
Derivatives, Fair Value [Line Items]          
Derivative liability, gross 40   40   26
Fair Value, Measurements, Nonrecurring | Other Current Assets | PPAs          
Derivatives, Fair Value [Line Items]          
Derivative asset [4] 2   2   0
Fair Value, Measurements, Nonrecurring | Other Current Liabilities | PPAs          
Derivatives, Fair Value [Line Items]          
Derivative liability [4] 14   14   14
Fair Value, Measurements, Nonrecurring | Other Noncurrent Liabilities | PPAs          
Derivatives, Fair Value [Line Items]          
Derivative liability [4] $ 32   $ 32   $ 35
[1] Relates primarily to FTR instruments administered by MISO (annual auctions occurring in the second quarter). These instruments are utilized/intended to offset the impacts of transmission system congestion. Higher congestion costs have led to an increase in the fair value of FTRs. Due to regulatory recovery, changes in fair value are deferred as a regulatory asset or liability and do not have a material impact on net income.
[2] Relates to commodity trading and is subject to offsetting losses of derivative instruments categorized as levels 1 and 2 in the consolidated income statement.
[3] NSP-Minnesota nets derivative instruments and related collateral on its consolidated balance sheets when supported by a legally enforceable master netting agreement, and all derivative instruments and related collateral amounts were subject to master netting agreements at June 30, 2022 and Dec. 31, 2021. At both June 30, 2022 and Dec. 31, 2021, derivative assets and liabilities include no obligations to return cash collateral. At June 30, 2022 and Dec. 31, 2021 derivative assets and liabilities include rights to reclaim cash collateral of $12 million and $16 million, respectively. The counterparty netting excludes settlement receivables and payables and non-derivative amounts that may be subject to the same master netting agreements.(b)Amounts relate to FTR instruments administered by MISO (annual auctions occurring in the second quarter). These instruments are utilized/intended to offset the impacts of transmission system congestion. Higher congestion costs have led to an increase in the fair value of FTRs. Due to regulatory recovery, changes in fair value are deferred as a regulatory asset or liability and do not have a material impact on net income.
[4] During 2006, Xcel Energy qualified these contracts under the normal purchase exception. Based on this qualification, the contracts are no longer adjusted to fair value and the previous carrying value of these contracts will be amortized over the remaining contract lives along with the offsetting regulatory assets and liabilities.