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Borrowings and Other Financing Instruments Borrowings and Other Financing Instruments (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Commercial Paper
Commercial paper and other borrowings outstanding:
(Millions of Dollars, Except Interest Rates)Three Months Ended Dec. 31, 2024Year Ended Dec. 31
202420232022
Borrowing limit$3,550 $3,550 $3,550 $3,550 
Amount outstanding at period end695 695 785 813 
Average amount outstanding133 508 491 552 
Maximum amount outstanding695 1,314 1,241 1,357 
Weighted average interest rate, computed on a daily basis4.77 %5.47 %5.12 %1.47 %
Weighted average interest rate at period end4.64 4.64 5.52 4.66 
Schedule of Debt To Total Capitalization Ratio
Features of the credit facilities:
Debt-to-Total Capitalization Ratio (a)
Amount Facility May Be Increased (millions of dollars) (b)
Additional Periods for Which a One-Year Extension May Be Requested (c)
20242023
Xcel Energy Inc. (d)
59.8 %59.8 %$350 2 
NSP-Minnesota47.0 47.7 150 2 
NSP-Wisconsin47.1 48.2 N/A1 
SPS46.6 46.1 50 2 
PSCo45.2 44.8 100 2 
(a)Each credit facility has a financial covenant requiring that the debt-to-total capitalization ratio be less than or equal to 65%.
(b)Amounts authorized by state commissions in respective jurisdictions.
(c)All extension requests are subject to majority bank group approval.
(d)The Xcel Energy Inc. credit facility has a cross-default provision that Xcel Energy Inc. would be in default on its borrowings under the facility if it or any of its subsidiaries (except NSP-Wisconsin as long as its total assets do not comprise more than 15% of Xcel Energy’s consolidated total assets) default on indebtedness in an aggregate principal amount exceeding $75 million.
Credit Facilities
As of Dec. 31, 2024, NSP-Minnesota had $74 million outstanding letters of credit under the $75 million Bilateral Credit Agreement.
Xcel Energy Inc. and its utility subsidiaries had the following committed credit facilities available as of Dec. 31, 2024:
(Millions of Dollars)
Credit Facility (a)
Drawn (b)
Available
Xcel Energy Inc.$1,500 $235 $1,265 
PSCo700 115 585 
NSP-Minnesota700 207 493 
SPS500 145 355 
NSP-Wisconsin150 35 115 
Total$3,550 $737 $2,813 
(a)These credit facilities mature in September 2027.
(b)Includes outstanding commercial paper and letters of credit.
Schedule of Long Term Debt Instruments
Long-term debt obligations for Xcel Energy Inc. and its utility subsidiaries as of Dec. 31 (in millions of dollars, except interest rates):
Xcel Energy Inc.
Financing InstrumentInterest RateMaturity Date20242023
Unsecured senior notes3.30 %June 1, 2025250 250 
Unsecured senior notes3.30 June 1, 2025350 350 
Unsecured senior notes3.35 Dec. 1, 2026500 500 
Unsecured senior notes1.75 March 15, 2027500 500 
Unsecured senior notes4.00 June 15, 2028130 130 
Unsecured senior notes 4.00 June 15, 2028500 500 
Unsecured senior notes2.60 Dec. 1, 2029500 500 
Unsecured senior notes 3.40 June 1, 2030600 600 
Unsecured senior notes
2.35 Nov. 15, 2031300 300 
Unsecured senior notes4.60 June 1, 2032700 700 
Unsecured senior notes (a)
5.45 Aug. 15, 2033800 800 
Unsecured senior notes (b)
5.50 March 15, 2034800 — 
Unsecured senior notes6.50 July 1, 2036300 300 
Unsecured senior notes4.80 Sept. 15, 2041250 250 
Unsecured senior notes3.50 Dec. 1, 2049500 500 
Unamortized discount(9)(8)
Unamortized debt issuance cost(34)(36)
Current maturities (600)— 
Total long-term debt$6,337 $6,136 
(a)2023 financing.
(b)2024 financing.
NSP-Minnesota
Financing InstrumentInterest RateMaturity Date20242023
First mortgage bonds7.125 %July 1, 2025250 250 
First mortgage bonds6.50 March 1, 2028150 150 
First mortgage bonds2.25 April 1, 2031425 425 
First mortgage bonds5.25 July 15, 2035250 250 
First mortgage bonds 6.25 June 1, 2036400 400 
First mortgage bonds6.20 July 1, 2037350 350 
First mortgage bonds5.35 Nov. 1, 2039300 300 
First mortgage bonds4.85 Aug. 15, 2040250 250 
First mortgage bonds3.40 Aug. 15, 2042500 500 
First mortgage bonds4.125 May 15, 2044300 300 
First mortgage bonds4.00 Aug. 15, 2045300 300 
First mortgage bonds3.60 May 15, 2046350 350 
First mortgage bonds3.60 Sept. 15, 2047600 600 
First mortgage bonds2.90 March 1, 2050600 600 
First mortgage bonds2.60 June 1, 2051700 700 
First mortgage bonds3.20 April 1, 2052425 425 
First mortgage bonds4.50 June 1, 2052500 500 
First mortgage bonds (a)
5.10 May 15, 2053800 800 
First mortgage bonds (b)
5.40 March 15, 2054700 — 
Other long-term debt2 2 
Long-term debt — related parties principal amount outstanding2.60 Jun 1, 2051(166)— 
Unamortized discount(49)(49)
Unamortized debt issuance cost(80)(73)
Current maturities(250)— 
Total long-term debt$7,607 $7,330 
(a)2023 financing.
(b)2024 financing.
NSP-Wisconsin
Financing InstrumentInterest RateMaturity Date20242023
First mortgage bonds3.30 %June 15, 2024$— $100 
First mortgage bonds3.30 June 15, 2024— 100 
First mortgage bonds6.375 Sept. 1, 2038200 200 
First mortgage bonds3.70 Oct. 1, 2042100 100 
First mortgage bonds3.75 Dec. 1, 2047100 100 
First mortgage bonds4.20 Sept. 1, 2048200 200 
First mortgage bonds 3.05 May 1, 2051100 100 
First mortgage bonds2.82 May 1, 2051100 100 
First mortgage bonds4.86 Sept. 15, 2052100 100 
First mortgage bonds (a)
5.30 June 15, 2053125 125 
First mortgage bonds (b)
5.65 June 15, 2054400 — 
Unamortized discount(4)(3)
Unamortized debt issuance cost(15)(11)
Current maturities— (200)
Total long-term debt$1,406 $1,011 
(a)2023 financing.
(b)2024 financing.
PSCo
Financing InstrumentInterest RateMaturity Date20242023
First mortgage bonds2.90 %May 15, 2025250 250 
First mortgage bonds3.70 June 15, 2028350 350 
First mortgage bonds1.90 Jan. 15, 2031375 375 
First mortgage bonds 1.875 June 15, 2031750 750 
First mortgage bonds4.10 June 1, 2032300 300 
First mortgage bonds (a)
5.35 May 15, 2034450 — 
First mortgage bonds6.25 Sept. 1, 2037350 350 
First mortgage bonds6.50 Aug. 1, 2038300 300 
First mortgage bonds4.75 Aug. 15, 2041250 250 
First mortgage bonds3.60 Sept. 15, 2042500 500 
First mortgage bonds3.95 March 15, 2043250 250 
First mortgage bonds4.30 March 15, 2044300 300 
First mortgage bonds3.55 June 15, 2046250 250 
First mortgage bonds3.80 June 15, 2047400 400 
First mortgage bonds4.10 June 15, 2048350 350 
First mortgage bonds4.05 Sept. 15, 2049400 400 
First mortgage bonds3.20 March 1, 2050550 550 
First mortgage bonds2.70 Jan. 15, 2051375 375 
First mortgage bonds4.50 June 1, 2052400 400 
First mortgage bonds (b)
5.25 April 1, 2053850 850 
First mortgage bonds (a)
5.75 May 15, 2054750 — 
Unamortized discount(42)(41)
Unamortized debt issuance cost(67)(59)
Current maturities(250)— 
Total long-term debt$8,391 $7,450 
(a)2024 financing.
(b)2023 financing.
SPS
Financing InstrumentInterest RateMaturity Date20242023
First mortgage bonds3.30 %June 15, 2024$— $150 
First mortgage bonds3.30 June 15, 2024— 200 
Unsecured senior notes6.00 Oct. 1, 2033100 100 
Unsecured senior notes6.00 Oct. 1, 2036250 250 
First mortgage bonds4.50 Aug. 15, 2041200 200 
First mortgage bonds4.50 Aug. 15, 2041100 100 
First mortgage bonds4.50 Aug. 15, 2041100 100 
First mortgage bonds3.40 Aug. 15, 2046300 300 
First mortgage bonds3.70 Aug. 15, 2047450 450 
First mortgage bonds4.40 Nov. 15, 2048300 300 
First mortgage bonds 3.75 June 15, 2049300 300 
First mortgage bonds3.15 May 1, 2050350 350 
First mortgage bonds3.15 May 1, 2050250 250 
First mortgage bonds5.15 June 1, 2052200 200 
First mortgage bonds (a)
6.00 Sept. 15, 2053100 100 
First mortgage bonds (b)
6.00 June 1, 2054600 — 
Unamortized discount(14)(10)
Unamortized debt issuance cost(35)(29)
Current maturities— (350)
Total long-term debt$3,551 $2,961 
(a)2023 financing.
(b)2024 financing.
Other Subsidiaries
Financing InstrumentInterest RateMaturity Date20242023
Various Eloigne affordable housing project notes0.00% - 8.00%2024 - 2055$27 $27 
Current maturities(3)(2)
Total long-term debt$24 $25 
Schedule of Maturities of Long-term Debt
Maturities of long-term debt:
(Millions of Dollars)
2025$1,103 
2026501 
2027501 
20281,133 
2029503 
Schedule of Stock by Class [Table Text Block]
Capital Stock — Preferred stock authorized/outstanding:
Preferred Stock Authorized (Shares)Par Value of Preferred StockPreferred Stock Outstanding (Shares) 2024 and 2023
Xcel Energy Inc.7,000,000 $100 — 
PSCo10,000,000 0.01 — 
SPS10,000,000 1.00 — 
Xcel Energy Inc. had the following common stock authorized/outstanding:
Common Stock Authorized (Shares)Par Value of Common StockCommon Stock Outstanding (Shares) as of Dec. 31, 2024Common Stock Outstanding (Shares) as of Dec. 31, 2023
1,000,000,000 $2.50 574,365,598 554,941,703 
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]
Requirements and actuals as of Dec. 31, 2024:
Equity to Total
Capitalization Ratio
Required Range 		Equity to Total Capitalization Ratio Actual
LowHigh2024
NSP-Minnesota47.6 %58.2 %53.0 %
NSP-Wisconsin (a)
52.5 N/A52.7 
SPS (b)
45.0 55.0 54.4 
(a)    Cannot pay annual dividends in excess of forecasted levels if its average equity-to-total capitalization ratio falls below the commission authorized level.
(b)    Excludes short-term debt.
(Amounts in Millions)Unrestricted Retained EarningsTotal CapitalizationLimit on Total Capitalization
NSP-Minnesota$1,809 $17,490 $17,800 
NSP-Wisconsin12 2,922 N/A
SPS (a)
592 7,789 N/A
(a)May not pay a dividend that would cause a loss of its investment grade bond rating.
Other Capital Restrictions
Amounts authorized to issue as of Dec. 31, 2024:
(Millions of Dollars)Long-Term DebtShort-Term Debt
NSP-Minnesota (a)
52.4% of total capitalization$2,670 
NSP-Wisconsin$225 150 
PSCo1,300 1,200 
SPS150 

700 
(a)NSP-Minnesota has authorization to issue long-term securities provided the equity-to-total capitalization remains within the required range, and to issue short-term debt provided it does not exceed 15% of total capitalization.