Last week Minnesota-based Xcel Energy announced that it beat market expectations with third quarter earnings increasing an impressive 18 percent. Colorado’s largest investor owned utility cited hot weather, rate hikes, and lower costs as reasons for its strong 3Q performance.
Colorado (PSCo) outperformed all other Xcel subsidiaries with a 24 percent increase for the third quarter 2012 versus 2011. For the nine months ending September 30, 2012, Colorado customers provided a 19 percent increase in earnings to Xcel shareholders while total company (sum of all subsidiaries) earnings per share are up only ten percent.
Xcel Energy services electric and gas customers in Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin.