Xcel Energy (XEL) 10-Q 28 Oct 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Oct. 26, 2021
Cover [Abstract]
Entity Registrant Name	XCEL ENERGY INC
Entity Central Index Key	0000072903
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-3034
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	41-0448030
Entity Address, Address Line One	414 Nicollet Mall
Entity Address, City or Town	Minneapolis
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55401
City Area Code	(612)
Local Phone Number	330-5500
Title of 12(b) Security	Common Stock, $2.50 par value
Trading Symbol	XEL
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		538,675,570

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Operating revenues
Electric	$ 3,176	$ 2,941	$ 8,643	$ 7,430
Natural gas	268	219	1,364	1,082
Other	23	22	69	67
Total operating revenues	3,467	3,182	10,076	8,579
Operating expenses
Electric fuel and purchased power	1,210	981	3,643	2,611
Cost of natural gas sold and transported	86	54	603	425
Cost of sales — other	11	11	28	28
Operating and maintenance expenses	568	579	1,752	1,708
Conservation and demand side management expenses	78	73	222	215
Depreciation and amortization	537	513	1,586	1,449
Taxes, Other	152	158	472	453
Total operating expenses	2,642	2,369	8,306	6,889
Operating income	825	813	1,770	1,690
Other (expense) income, net	(3)	1	5	(6)
Earnings from equity method investments	13	12	47	29
Allowance for funds used during construction — equity	21	30	53	91
Interest charges and financing costs
Interest charges — includes other financing costs of $7, $7, $22 and $21, respectively	211	221	628	628
Allowance for funds used during construction — debt	(7)	(11)	(18)	(33)
Total interest charges and financing costs	204	210	610	595
Income before income taxes	652	646	1,265	1,209
Income tax expense (benefit)	43	43	(17)	24
Net income	$ 609	$ 603	$ 1,282	$ 1,185
Weighted average common shares outstanding:
Basic (in shares)	539	526	539	526
Diluted (in shares)	539	528	539	527
Earnings per average common share:
Basic (in dollars per share)	$ 1.13	$ 1.15	$ 2.38	$ 2.25
Diluted (in dollars per share)	$ 1.13	$ 1.14	$ 2.38	$ 2.25

CONSOLIDATED STATEMENTS OF IN_2

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Other financing costs	$ 7	$ 7	$ 22	$ 21

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Comprehensive income:
Net income	$ 609	$ 603	$ 1,282	$ 1,185
Pension and retiree medical benefits:
Reclassifications of loss to net income, net of tax of $1, $—, $2 and $1, respectively	4	1	5	4
Derivative instruments:
Net fair value increase (decrease), net of tax of $1, $—, $1 and $(3), respectively	3	0	4	(10)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	(2)	(1)	(6)	(4)
Total other comprehensive income (loss)	9	2	15	(2)
Total comprehensive income	$ 618	$ 605	$ 1,297	$ 1,183

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Pension reclassifications, tax	$ 1	$ 0	$ 2	$ 1
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	1	0	1	(3)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax	$ 0	$ 0	$ 1	$ 1

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating activities
Net income	$ 1,282	$ 1,185
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	1,597	1,459
Nuclear fuel amortization	86	94
Deferred income taxes	(9)	45
Allowance for equity funds used during construction	(53)	(91)
Earnings from equity method investments	(47)	(29)
Dividends from equity method investments	31	32
Provision for bad debts	53	39
Share-based compensation expense	20	60
Changes in operating assets and liabilities:
Accounts receivable	(152)	(108)
Accrued unbilled revenues	58	124
Inventories	(82)	(37)
Other current assets	8	(68)
Accounts payable	61	(97)
Net regulatory assets and liabilities	(997)	(139)
Other current liabilities	(22)	(54)
Pension and other employee benefit obligations	(131)	(138)
Other, net	(124)	(103)
Net cash provided by operating activities	1,579	2,174
Investing activities
Capital/construction expenditures	(3,032)	(3,681)
Proceeds from Sales of Business, Affiliate and Productive Assets	0	684
Purchase of investment securities	(540)	(1,275)
Proceeds from the sale of investment securities	531	1,260
Other, net	(24)	(9)
Net cash used in investing activities	(3,065)	(3,021)
Financing activities
Proceeds from (repayments of) short-term borrowings, net	1,163	(95)
Proceeds from issuances of long-term debt	1,920	2,940
Repayments of long-term debt, including reacquisition premiums	(399)	(701)
Proceeds from issuance of common stock	13	5
Dividends paid	(698)	(638)
Other, net	(11)	(27)
Net cash provided by financing activities	1,988	1,484
Net change in cash, cash equivalents and restricted cash	502	637
Cash, cash equivalents and restricted cash at beginning of period	129	248
Cash, cash equivalents and restricted cash at end of period	631	885
Supplemental disclosure of cash flow information:
Cash paid for interest (net of amounts capitalized)	(592)	(582)
Cash paid for income taxes, net	(6)	(17)
Supplemental disclosure of non-cash investing and financing transactions:
Accrued property, plant and equipment additions	476	933
Inventory transfers to property, plant and equipment	87	250
Operating lease right-of-use assets	4	361
Allowance for equity funds used during construction	53	91
Issuance of common stock for reinvested dividends and/or equity awards	$ 26	$ 51

CONSOLIDATED BALANCE SHEETS (UN

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 631	$ 129
Accounts receivable, net	1,022	916
Accrued unbilled revenues	656	714
Inventories	587	535
Regulatory assets	1,073	640
Derivative instruments	228	49
Prepaid taxes	55	42
Prepayments and other	235	250
Total current assets	4,487	3,275
Property, plant and equipment, net	44,730	42,950
Other assets
Nuclear decommissioning fund and other investments	3,446	3,096
Regulatory assets	3,101	2,737
Derivative instruments	72	30
Operating lease right-of-use assets	1,342	1,490
Other	339	379
Total other assets	8,300	7,732
Total assets	57,517	53,957
Current liabilities
Current portion of long-term debt	621	421
Short-term debt	1,747	584
Accounts payable	1,319	1,237
Regulatory liabilities	338	311
Taxes accrued	553	578
Accrued interest	206	203
Dividends payable	246	231
Derivative instruments	76	53
Operating lease liabilities	218	214
Other	440	407
Total current liabilities	5,764	4,239
Deferred credits and other liabilities
Deferred income taxes	4,913	4,746
Regulatory liabilities	5,389	5,302
Asset retirement obligations	3,094	2,884
Derivative instruments	99	131
Customer advances	199	197
Pension and employee benefit obligations	515	666
Operating lease liabilities	1,187	1,344
Other	207	228
Total deferred credits and other liabilities	15,603	15,498
Commitments and contingencies
Capitalization
Long-term debt	20,979	19,645
Common stock — 1,000,000,000 shares authorized of $2.50 par value; 538,458,952 and 537,438,394 shares outstanding at Sept. 30, 2021 and Dec. 31, 2020, respectively	$ 1,346	$ 1,344
Common Stock, Shares Authorized	1,000,000,000	1,000,000,000
Common Stock, Par or Stated Value Per Share	$ 2.50	$ 2.50
Common Stock, Shares, Outstanding	538,458,952	537,438,394
Additional paid in capital	$ 7,443	$ 7,404
Retained earnings	6,508	5,968
Accumulated other comprehensive loss	(126)	(141)
Total common stockholders’ equity	15,171	14,575
Total liabilities and equity	$ 57,517	$ 53,957

CONSOLIDATED STATEMENTS OF COMM

CONSOLIDATED STATEMENTS OF COMMON STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Millions	Total	Common Stock	Additional Paid In Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Balance (in shares) at Dec. 31, 2019		524,539,000
Beginning balance at Dec. 31, 2019	$ 13,239	$ 1,311	$ 6,656	$ 5,413	$ (141)
Increase (Decrease) in Stockholders' Equity
Net income	1,185			1,185
Other comprehensive income	(2)				(2)
Dividends declared on common stock (USD per share)		$ 1.29
Dividends declared on common stock	(679)			(679)
Issuances of common stock (in shares)		968,299
Issuances of common stock	33	$ 3	30
Stock Repurchased During Period, Value	(4)	$ (4)
Stock Repurchased During Period, Shares		(54,475)
Share-based compensation	7		12	(5)
Credit Losses, Topic 326 (ASC Topic 326)	(2)			(2)
Balance (in shares) at Sep. 30, 2020		525,452,824
Ending balance at Sep. 30, 2020	13,777	$ 1,314	6,694	5,912	(143)
Balance (in shares) at Jun. 30, 2020		525,204,978
Beginning balance at Jun. 30, 2020	13,385	$ 1,313	6,679	5,538	(145)
Increase (Decrease) in Stockholders' Equity
Net income	603			603
Other comprehensive income	2				2
Dividends declared on common stock (USD per share)		$ 0.43
Dividends declared on common stock	(226)			(226)
Issuances of common stock (in shares)		302,321
Issuances of common stock	10	$ 1	9
Stock Repurchased During Period, Value	(4)	$ (4)
Stock Repurchased During Period, Shares		(54,475)
Share-based compensation	7		10	(3)
Balance (in shares) at Sep. 30, 2020		525,452,824
Ending balance at Sep. 30, 2020	$ 13,777	$ 1,314	6,694	5,912	(143)
Balance (in shares) at Dec. 31, 2020	537,438,394	537,438,394
Beginning balance at Dec. 31, 2020	$ 14,575	$ 1,344	7,404	5,968	(141)
Increase (Decrease) in Stockholders' Equity
Net income	1,282			1,282
Other comprehensive income	15				15
Dividends declared on common stock (USD per share)		$ 1.373
Dividends declared on common stock	(739)			(739)
Issuances of common stock (in shares)		1,020,558
Issuances of common stock	40	$ 2	38
Share-based compensation	$ (2)		1	(3)
Balance (in shares) at Sep. 30, 2021	538,458,952	538,458,952
Ending balance at Sep. 30, 2021	$ 15,171	$ 1,346	7,443	6,508	(126)
Balance (in shares) at Jun. 30, 2021		538,305,927
Beginning balance at Jun. 30, 2021	14,792	$ 1,346	7,435	6,146	(135)
Increase (Decrease) in Stockholders' Equity
Net income	609			609
Other comprehensive income	9				9
Dividends declared on common stock (USD per share)		$ 0.4575
Dividends declared on common stock	(247)			(247)
Issuances of common stock (in shares)		153,025
Issuances of common stock	10	$ 0	10
Share-based compensation	$ (2)		(2)	0
Balance (in shares) at Sep. 30, 2021	538,458,952	538,458,952
Ending balance at Sep. 30, 2021	$ 15,171	$ 1,346	$ 7,443	$ 6,508	$ (126)

Management's Opinion

Management's Opinion	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Management's Opinion	In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly, in accordance with GAAP, the financial position of Xcel Energy Inc. and its subsidiaries as of Sept. 30, 2021 and Dec. 31, 2020; the results of Xcel Energy’s operations, including the components of net income, comprehensive income, and changes in stockholders’ equity for the three and nine months ended Sept. 30, 2021 and 2020; and Xcel Energy’s cash flows for the nine months ended Sept. 30, 2021 and 2020. All adjustments are of a normal, recurring nature, except as otherwise disclosed. Management has also evaluated the impact of events occurring after Sept. 30, 2021, up to the date of issuance of these consolidated financial statements. These statements contain all necessary adjustments and disclosures resulting from that evaluation. The Dec. 31, 2020 balance sheet information has been derived from the audited 2020 consolidated financial statements included in the Xcel Energy Inc. Annual Report on Form 10-K for the year ended Dec. 31, 2020. Notes to the consolidated financial statements have been prepared pursuant to the rules and regulations of the SEC for Quarterly Reports on Form 10-Q. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP on an annual basis have been condensed or omitted pursuant to such rules and regulations. For further information, refer to the consolidated financial statements and notes thereto included in the Xcel Energy Inc. Annual Report on Form 10-K for the year ended Dec. 31, 2020, filed with the SEC on Feb. 17, 2021. Due to the seasonality of Xcel Energy’s electric and natural gas sales, interim results are not necessarily an appropriate base from which to project annual results.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	The significant accounting policies set forth in Note 1 to the consolidated financial statements in the Xcel Energy Inc. Annual Report on Form 10-K for the year ended Dec. 31, 2020 appropriately represent, in all material respects, the current status of accounting policies and are incorporated herein by reference.

Accounting Pronouncements

Accounting Pronouncements	9 Months Ended
	Sep. 30, 2021
Accounting Standards Update and Change in Accounting Principle [Abstract]
Accounting Pronouncements	Credit Losses — In 2016, the FASB issued Financial Instruments - Credit Losses, Topic 32 6 (ASC Topic 326), which changes how entities account for losses on receivables and certain other assets. The guidance requires use of a current expected credit loss model, which may result in earlier recognition of credit losses than under previous accounting standards.

Selected Balance Sheet Data

Selected Balance Sheet Data	9 Months Ended
	Sep. 30, 2021
Balance Sheet Related Disclosures [Abstract]
Selected Balance Sheet Data	(Millions of Dollars) Sept. 30, 2021 Dec. 31, 2020 Accounts receivable, net Accounts receivable $ 1,119 $ 995 Less allowance for bad debts (97) (79) Accounts receivable, net $ 1,022 $ 916 (Millions of Dollars) Sept. 30, 2021 Dec. 31, 2020 Inventories Materials and supplies $ 283 $ 275 Fuel 155 176 Natural gas 149 84 Total inventories $ 587 $ 535 (Millions of Dollars) Sept. 30, 2021 Dec. 31, 2020 Property, plant and equipment, net Electric plant $ 49,293 $ 47,104 Natural gas plant 7,443 7,135 Common and other property 2,519 2,503 Plant to be retired (a) 603 677 Construction work in progress 2,263 1,877 Total property, plant and equipment 62,121 59,296 Less accumulated depreciation (17,711) (16,657) Nuclear fuel 3,065 2,970 Less accumulated amortization (2,745) (2,659) Property, plant and equipment, net $ 44,730 $ 42,950 (a) Includes regulator-approved retirements of Comanche Units 1 and 2 and jointly owned Craig Unit 1 for PSCo and Sherco Units 1 and 2 for NSP-Minnesota. Also includes SPS’ expected retirement of Tolk and conversion of Harrington to natural gas, and PSCo’s planned retirement of jointly owned Craig Unit 2.

Borrowings and Other Financing

Borrowings and Other Financing Instruments	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Borrowings and Other Financing Instruments	Short-Term Borrowings Short-Term Debt — Xcel Energy Inc. and its utility subsidiaries meet their short-term liquidity requirements primarily through the issuance of commercial paper and borrowings under their credit facilities and term loan agreements. Commercial paper and term loan borrowings outstanding for Xcel Energy: (Amounts in Millions, Except Interest Rates) Three Months Ended Sept. 30, 2021 Year Ended Dec. 31, 2020 Borrowing limit $ 4,300 $ 3,100 Amount outstanding at period end 1,747 584 Average amount outstanding 1,742 1,126 Maximum amount outstanding 1,857 2,080 Weighted average interest rate, computed on a daily basis 0.57 % 1.45 % Weighted average interest rate at period end 0.56 0.23 Letters of Credit — Xcel Energy Inc. and its subsidiaries use letters of credit, generally with terms of one year, to provide financial guarantees for certain obligations. There we re $19 million and $20 million of letters of credit outstanding under the cr edit facilities at Sept. 30, 2021 and Dec. 31, 2020, respectively. Amounts approximate their fair value and are subject to fees. Revolving Credit Facilities — In order to issue commercial paper, Xcel Energy Inc. and its utility subsidiaries must have revolving credit facilities at least equal to the amount of commercial paper borrowing limits and cannot issue commercial paper exceeding available credit facility capacity. The lines of credit provide short-term financing in the form of notes payable to banks, letters of credit and back-up support for commercial paper borrowings. As of Sept. 30, 2021, Xcel Energy Inc. and its utility subsidiaries had the following committed revolving credit facilities available: (Millions of Dollars) Credit Facility (a) Drawn (b) Available Xcel Energy Inc. $ 1,250 $ 529 $ 721 PSCo 700 8 692 NSP-Minnesota 500 9 491 SPS 500 20 480 NSP-Wisconsin 150 — 150 Total $ 3,100 $ 566 $ 2,534 (a) Expires in June 2024. (b) Includes outstanding commercial paper and letters of credit. Xcel Energy Inc., NSP-Minnesota, PSCo, and SPS each have the right to request an extension of the credit facility termination date for two additional one-year periods. NSP-Wisconsin has the right to request an extension of the credit facility termination date for an additional one-year period. All extension requests are subject to majority bank group approval. All credit facility bank borrowings, outstanding letters of credit and outstanding commercial paper reduce the available credit facilities capacity. Xcel Energy Inc. and its utility subsidiaries had no direct advances on the credit facilities outstanding as of Sept. 30, 2021 and Dec. 31, 2020. Term Loan Agreements — In February 2021, Xcel Energy Inc. entered into a $1.2 billion 364-Day Term Loan Agreement that matures Feb. 17, 2022. Xcel Energy has an option to extend through Feb. 16, 2023. The term loan includes one financial covenant, requiring Xcel Energy’s consolidated funded debt to total capitalization ratio to be less than or equal to 65%. As of Sept. 30, 2021 , Xcel Energy Inc.’s term loan borrowings were as follows: (Millions of Dollars) Limit Amount Used Available Xcel Energy Inc. $ 1,200 $ 1,200 $ — Bilateral Credit Agreement In April 2021, NSP-Minnesota’s uncommitted bilateral credit agreement was renewed for an additional one-year term. The credit agreement is limited in use to support letters of credit. As of Sept. 30, 2021, NSP-Minnesota’s outstanding letters of credit under the bilateral credit agreement were as follows: (Millions of Dollars) Limit Amount Outstanding Available NSP-Minnesota $ 75 $ 41 $ 34 Long-Term Borrowings and Other Financing Instruments During the nine months ended Sept. 30, 2021, Xcel Energy Inc. and its utility subsidiaries issued the following: • PSCo issued $750 million of 1.875% first mortgage bonds due June 15, 2031. • SPS issued $250 million of 3.15% first mortgage bonds due May 1, 2050. • NSP-Minnesota issued $425 million of 2.25% first mortgage bonds due April 1, 2031 and $425 million of 3.20% first mortgage bonds due April 1, 2052. • NSP-Wisconsin issued $100 million of 2.82% first mortgage bonds du e May 1, 2051. Other Equity — Xcel Energy Inc. issued $38 million

Revenues

Revenues	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenues	Revenue is classified by the type of goods/services rendered and market/customer type. Xcel Energy’s operating revenues consisted of the following: Three Months Ended Sept. 30, 2021 (Millions of Dollars) Electric Natural Gas All Other Total Major revenue types Revenue from contracts with customers: Residential $ 999 $ 133 $ 12 $ 1,144 C&I 1,515 76 7 1,598 Other 35 — 1 36 Total retail 2,549 209 20 2,778 Wholesale 288 — — 288 Transmission 167 — — 167 Other 17 45 — 62 Total revenue from contracts with customers 3,021 254 20 3,295 Alternative revenue and other 155 14 3 172 Total revenues $ 3,176 $ 268 $ 23 $ 3,467 Three Months Ended Sept. 30, 2020 (Millions of Dollars) Electric Natural Gas All Other Total Major revenue types Revenue from contracts with customers: Residential $ 962 $ 124 $ 11 $ 1,097 C&I 1,340 56 5 1,401 Other 34 — 2 36 Total retail 2,336 180 18 2,534 Wholesale 227 — — 227 Transmission 157 — — 157 Other 17 28 — 45 Total revenue from contracts with customers 2,737 208 18 2,963 Alternative revenue and other 204 11 4 219 Total revenues $ 2,941 $ 219 $ 22 $ 3,182 Nine Months Ended Sept. 30, 2021 (Millions of Dollars) Electric Natural Gas All Other Total Major revenue types Revenue from contracts with customers: Residential $ 2,488 $ 774 $ 33 $ 3,295 C&I 3,830 389 22 4,241 Other 96 — 5 101 Total retail 6,414 1,163 60 7,637 Wholesale 1,265 — — 1,265 Transmission 461 — — 461 Other 51 106 — 157 Total revenue from contracts with customers 8,191 1,269 60 9,520 Alternative revenue and other 452 95 9 556 Total revenues $ 8,643 $ 1,364 $ 69 $ 10,076 Nine Months Ended Sept. 30, 2020 (Millions of Dollars) Electric Natural Gas All Other Total Major revenue types Revenue from contracts with customers: Residential $ 2,356 $ 647 $ 32 $ 3,035 C&I 3,481 308 20 3,809 Other 94 — 4 98 Total retail 5,931 955 56 6,942 Wholesale 553 — — 553 Transmission 442 — — 442 Other 55 86 — 141 Total revenue from contracts with customers 6,981 1,041 56 8,078 Alternative revenue and other 449 41 11 501 Total revenues $ 7,430 $ 1,082 $ 67 $ 8,579

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 7 to the consolidated financial statements included in Xcel Energy’s Annual Report on Form 10-K for the year ended Dec. 31, 2020 represents, in all material respects, the current status of other income tax matters except to the extent noted below, and are incorporated by reference. Difference between the statutory rate and ETR: Three Months Ended Sept. 30 Nine Months Ended Sept. 30 2021 2020 2021 2020 Federal statutory rate 21.0 % 21.0 % 21.0 % 21.0 % State tax (net of federal tax effect) 5.0 5.0 5.0 5.1 Decreases: Wind PTCs (12.1) (8.0) (20.0) (13.2) Plant regulatory differences (a) (5.8) (7.2) (6.0) (7.4) NOL carryback — (1.9) — (1.0) Other (net) (1.5) (2.2) (1.3) (2.5) Effective income tax rate 6.6 % 6.7 % (1.3) % 2.0 % (a) Regulatory differences for income tax primarily relate to the credit of excess deferred taxes to customers through the average rate assumption method. Income tax benefits associated with the credit of excess deferred credits are offset by corresponding revenue reductions. Federal Audits — Statute of limitations applicable to Xcel Energy’s consolidated federal income tax returns expire as follows: Tax Years Expiration 2014 — 2016 December 2022 2018 September 2022 Additionally, the statute of limitations related to certain federal tax credit carryforwards will remain open until those credits are utilized in subsequent returns. Further, the statute of limitations related to a federal tax loss carryback claim filed in 2020 has been extended. Xcel Energy has recognized its best estimate of income tax expense that will result from a final resolution of this issue; however, the outcome and timing of a resolution is unknown . State Audits — Xcel Energy files consolidated state tax returns based on income in its major operating jurisdictions and various other state income-based tax returns. As of Sept. 30, 2021, Xcel Energy’s earliest open tax years (subject to examination by state taxing authorities in its major operating jurisdictions) were as follows: State Year Colorado 2014 Minnesota 2013 Texas 2012 Wisconsin 2016 • In February 2021, Minnesota concluded its review and commenced an audit of tax years 2015 - 2018. No material adjustments have been proposed. • In March 2021, Wisconsin began an audit of tax years 2016 - 2019. No material adjustments have been proposed. • In April 2021, Texas began an audit of tax years 2016 - 2019. No material adjustments have been proposed. • No other state income tax audits were in progress as of Sept. 30, 2021. Unrecognized Benefits — The unrecognized tax benefit balance includes permanent tax positions, which if recognized would affect the ETR. In addition, the unrecognized tax benefit balance includes temporary tax positions for which deductibility is highly certain, but for which there is uncertainty about the timing. A change in the timing of deductibility would not affect the ETR but would accelerate the payment to the taxing authority. Unrecognized tax benefits — permanent vs. temporary: (Millions of Dollars) Sept. 30, 2021 Dec. 31, 2020 Unrecognized tax benefit — Permanent tax positions $ 46 $ 41 Unrecognized tax benefit — Temporary tax positions 11 11 Total unrecognized tax benefit $ 57 $ 52 Unrecognized tax benefits were reduced by tax benefits associated with NOL and tax credit carryforwards: (Millions of Dollars) Sept. 30, 2021 Dec. 31, 2020 NOL and tax credit carryforwards $ (35) $ (31) As Internal Revenue Service audits resume and the state audits progress, it is reasonably possible that the amount of unrecognized tax benefit could decrease up to approximately $27 million in the next 12 months. Payable for interest related to unrecognized tax benefits is partially offset by the interest benefit associated with NOL and tax credit carryforwards. Interest payable related to unrecognized tax benefits: (Millions of Dollars) Sept. 30, 2021 Dec. 31, 2020 Payable for interest related to unrecognized tax benefits at beginning of period $ (3) $ — Interest expense related to unrecognized tax benefits — (3) Payable for interest related to unrecognized tax benefits at end of period $ (3) $ (3) No penalties were accrued related to unrecognized tax benefits as of Sept. 30, 2021 or Dec. 31, 2020.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Basic EPS was computed by dividing the earnings available to common shareholders by the average weighted number of common shares outstanding. Diluted EPS was computed by dividing the earnings available to common shareholders by the diluted weighted average number of common shares outstanding. Diluted EPS reflects the potential dilution that could occur if securities or other agreements to issue common stock (i.e., common stock equivalents) were settled. The weighted average number of potentially dilutive shares outstanding used to calculate diluted EPS is calculated using the treasury stock method. Common Stock Equivalents — Xcel Energy Inc. has common stock equivalents related to time-based equity compensation awards. Stock equivalent units granted to Xcel Energy Inc.’s Board of Directors are included in common shares outstanding upon grant date as there is no further service, performance or market condition associated with these awards. Restricted stock issued to employees is included in common shares outstanding when granted. Share-based compensation arrangements for which there is currently no dilutive impact to EPS include the following: • Equity awards subject to a performance condition; included in common shares outstanding when all necessary conditions have been satisfied by the end of the reporting period. • Liability awards subject to a performance condition; any portions settled in shares are included in common shares outstanding upon settlement. Common shares outstanding used in the basic and diluted EPS computation: Three Months Ended Sept. 30 Nine Months Ended Sept. 30 (Shares in Millions) 2021 2020 2021 2020 Basic 539 526 539 526 Diluted (a) 539 528 539 527 (a) Diluted common shares outstanding included common stock equivalents of 0.3 million an d 1.6 million for the three months ended Sept. 30, 2021 and 2020, respectively. Diluted common shares outstanding included common stock equivalents of 0.3 million and 1.0 million for the nine months ended Sept. 30, 2021 and 2020, respectively.

Fair Value of Financial Assets

Fair Value of Financial Assets and Liabilities	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Assets and Liabilities	Fair Value Measurements Accounting guidance for fair value measurements and disclosures provides a single definition of fair value and requires disclosures about assets and liabilities measured at fair value. A hierarchical framework for disclosing the observability of the inputs utilized in measuring assets and liabilities at fair value is established by this guidance. • Level 1 — Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. The types of assets and liabilities included in Level 1 are highly liquid and actively traded instruments with quoted prices. • Level 2 — Pricing inputs are other than quoted prices in active markets, but are either directly or indirectly observable as of the reporting date. The types of assets and liabilities included in Level 2 are typically either comparable to actively traded securities or contracts, or priced with models using highly observable inputs. • Level 3 — Significant inputs to pricing have little or no observability as of the reporting date. The types of assets and liabilities included in Level 3 are those valued with models requiring significant management judgment or estimation. Specific valuation methods include: Cash equivalents — The fair values of cash equivalents are generally based on cost plus accrued interest; money market funds are measured using quoted NAV. Investments in equity securities and other funds — Equity securities are valued using quoted prices in active markets. The fair values for commingled funds are measured using NAVs. The investments in commingled funds may be redeemed for NAV with proper notice. Private equity commingled fund investments require approval of the fund for any unscheduled redemption, and such redemptions may be approved or denied by the fund at its sole discretion. Unscheduled distributions from real estate commingled funds’ investments may be redeemed with proper notice, however, withdrawals may be delayed or discounted as a result of fund illiquidity. Investments in debt securities — Fair values for debt securities are determined by a third party pricing service using recent trades and observable spreads from benchmark interest rates for similar securities. Interest rate derivatives — Fair values of interest rate derivatives are based on broker quotes that utilize current market interest rate forecasts. Commodity derivatives — Methods used to measure the fair value of commodity derivative forwards and options utilize forward prices and volatilities, as well as pricing adjustments for specific delivery locations and are generally assigned a Level 2 classification. When contractual settlements relate to inactive delivery locations or extend to periods beyond those readily observable on active exchanges or quoted by brokers, the significance of the use of less observable inputs on a valuation is evaluated and may result in Level 3 classification. Electric commodity derivatives held by NSP-Minnesota and SPS include transmission congestion instruments, generally referred to as FTRs. FTRs purchased from a RTO are financial instruments that entitle or obligate the holder to monthly revenues or charges based on transmission congestion across a given transmission path. The value of an FTR is derived from, and designed to offset, the cost of transmission congestion. In addition to overall transmission load, congestion is also influenced by the operating schedules of power plants and the consumption of electricity pertinent to a given transmission path. Unplanned plant outages, scheduled plant maintenance, changes in the relative costs of fuels used in generation, weather and overall changes in demand for electricity can each impact the operating schedules of the power plants on the transmission grid and the value of an FTR. If forecasted costs of electric transmission congestion increase or decrease for a given FTR path, the value of that particular FTR instrument will likewise increase or decrease. Given the limited observability of certain inputs to the value of FTRs between auction processes, including expected plant operating schedules and retail and wholesale demand, fair value measurements for FTRs have been assigned a Level 3. Non-trading monthly FTR settlements are expected to be recovered through fuel and purchased energy cost recovery mechanisms as applicable in each jurisdiction and therefore changes in the fair value of the yet to be settled portions of most FTRs are deferred as a regulatory asset or liability. Given this regulatory treatment and the limited magnitude of FTRs relative to the electric utility operations of NSP-Minnesota and SPS, the numerous unobservable quantitative inputs pertinent to the value of FTRs are immaterial to the consolidated financial statements. Derivative Instruments Fair Value Measurements Xcel Energy enters into derivative instruments, including forward contracts, futures, swaps and options, for trading purposes and to manage risk in connection with changes in interest rates, utility commodity prices and vehicle fuel prices. Interest Rate Derivatives — Xcel Energy enters into various instruments that effectively fix the yield or price on a specified benchmark interest rate for an anticipated debt issuance for a specific period. These derivative instruments are generally designated as cash flow hedges for accounting purposes, with changes in fair value prior to settlement recorded as other comprehensive income. As of Sept. 30, 2021, accumulated other comprehensive loss related to interest rate derivatives included $6 million of net losses expected to be reclassified into earnings during the next 12 months as the hedged transactions impact earnings. Wholesale and Commodity Trading Risk — Xcel Energy Inc.’s utility subsidiaries conduct various wholesale and commodity trading activities, including the purchase and sale of electric capacity, energy, energy-related instruments and natural gas-related instruments, including derivatives. Xcel Energy is allowed to conduct these activities within guidelines and limitations as approved by its risk management committee, comprised of management personnel not directly involved in the activities governed by this policy. Sharing of any margins is determined through state regulatory proceedings as well as the operation of the FERC approved joint operating agreement. Commodity Derivatives — Xcel Energy enters into derivative instruments to manage variability of future cash flows from changes in commodity prices in its electric and natural gas operations, as well as for trading purposes. This could include the purchase or sale of energy or energy-related products, natural gas to generate electric energy, natural gas for resale, FTRs, vehicle fuel and weather derivatives. Xcel Energy may enter into derivative instruments that mitigate commodity price risk on behalf of electric and natural gas customers, but may not be designated as qualifying hedging transactions. The classification of gains or losses for these instruments as a regulatory asset or liability, if applicable, is based on approved regulatory recovery mechanisms. As of Sept. 30, 2021, Xcel Energy had no commodity contracts designated as cash flow hedges. Xcel Energy enters into commodity derivative instruments for trading purposes not directly related to commodity price risks associated with serving its electric and natural gas customers. Changes in the fair value of these commodity derivatives are recorded in electric operating revenues, net of amounts credited to customers under margin-sharing mechanisms. Gross notional amounts of commodity forwards, options and FTRs: (Amounts in Millions) (a)(b) Sept. 30, 2021 Dec. 31, 2020 Megawatt hours of electricity 101 87 Million British thermal units of natural gas 184 175 (a) Not reflective of net positions in the underlying commodities. (b) Notional amounts for options included on a gross basis but weighted for the probability of exercise. Consideration of Credit Risk and Concentrations — Xcel Energy continuously monitors the creditworthiness of counterparties to its interest rate derivatives and commodity derivative contracts, prior to settlement, and assesses each counterparty’s ability to perform on the transactions set forth in the contracts. Impact of credit risk was immaterial to the fair value of unsettled commodity derivatives presented in the consolidated balance sheets. Xcel Energy’s utility subsidiaries’ most significant concentrations of credit risk with particular entities or industries are contracts with counterparties to their wholesale, trading and non-trading commodity activities. As of Sept. 30, 2021, six of Xcel Energy’s ten most significant counterparties for these activities, comprising $121 million, or 40%, of this credit exposure, had investment grade credit ratings from S&P Global Ratings, Moody’s Investor Services or Fitch Ratings. Two of the ten most significant counterparties, comprising $29 million, or 10%, of this credit exposure, were not rated by these external ratings agencies, but based on Xcel Energy’s internal analysis, had credit quality consistent with investment grade. Two of these significant counterparties, comprising $44 million or 14% of this credit exposure, had credit quality less than investment grade, based on internal analysis. Five of these significant counterparties are municipal or cooperative electric entities, RTOs or other utilities. Impact of Derivative Activity — Pre-Tax Fair Value Gains (Losses) Recognized During the Period in: (Millions of Dollars) Accumulated Other Comprehensive Loss Regulatory (Assets) and Liabilities Three Months Ended Sept. 30, 2021 Derivatives designated as cash flow hedges: Interest rate $ 4 $ — Total $ 4 $ — Other derivative instruments: Electric commodity $ — $ 5 Natural gas commodity — 57 Total $ — $ 62 Nine Months Ended Sept. 30, 2021 Derivatives designated as cash flow hedges: Interest rate $ 5 $ — Total $ 5 $ — Other derivative instruments: Electric commodity $ — $ 18 Natural gas commodity — 57 Total $ — $ 75 Three Months Ended Sept. 30, 2020 Other derivative instruments: Electric commodity $ — $ (3) Natural gas commodity — 2 Total $ — $ (1) Nine Months Ended Sept. 30, 2020 Derivatives designated as cash flow hedges: Interest rate $ (13) $ — Total $ (13) $ — Other derivative instruments: Electric commodity $ — $ (3) Natural gas commodity — (1) Total $ — $ (4) Pre-Tax (Gains) Losses Reclassified into Income During the Period from: Pre-Tax Gains (Losses) Recognized During the Period in Income (Millions of Dollars) Accumulated Other Comprehensive Loss Regulatory Assets and (Liabilities) Three Months Ended Sept. 30, 2021 Derivatives designated as cash flow hedges: Interest rate $ 2 (a) $ — $ — Total $ 2 $ — $ — Other derivative instruments: Commodity trading $ — $ — $ 1 (b) Electric commodity — 3 (c) — Total $ — $ 3 $ 1 Nine Months Ended Sept. 30, 2021 Derivatives designated as cash flow hedges: Interest rate $ 7 (a) $ — $ — Total $ 7 $ — $ — Other derivative instruments: Commodity trading $ — $ — $ 49 (b) Electric commodity — (26) (c) — Natural gas commodity — 8 (d) (10) (d) Total $ — $ (18) $ 39 Three Months Ended Sept. 30, 2020 Derivatives designated as cash flow hedges: Interest rate $ 1 (a) $ — $ — Total $ 1 $ — $ — Other derivative instruments: Commodity trading $ — $ — $ 2 (b) Electric commodity — (3) (c) — Total $ — $ (3) $ 2 Nine Months Ended Sept. 30, 2020 Derivatives designated as cash flow hedges: Interest rate $ 5 (a) $ — $ — Total $ 5 $ — $ — Other derivative instruments: Commodity trading $ — $ — $ (1) (b) Electric commodity — (6) (c) — Natural gas commodity — 5 (d) (6) (d) Total $ — $ (1) $ (7) (a) Recorded to interest charges. (b) Recorded to electric operating revenues. Portions of these gains and losses are subject to sharing with electric customers through margin-sharing mechanisms and deducted from gross revenue, as appropriate. (c) Recorded to electric fuel and purchased power. These derivative settlement gains and losses are shared with electric customers through fuel and purchased energy cost-recovery mechanisms, and reclassified out of income as regulatory assets or liabilities, as appropriate. (d) Amounts for both the three and nine months ended Sept. 30, 2021 and 2020 included no settlement gains or losses on derivatives entered to mitigate natural gas price risk for electric generation recorded to electric fuel and purchased power, subject to cost-recovery mechanisms and reclassified to a regulatory asset, as appropriate. Remaining settlement losses for both the three and nine months ended Sept. 30, 2021 and 2020 relate to natural gas operations and were recorded to cost of natural gas sold and transported. These gains and losses are subject to cost-recovery mechanisms and reclassified out of income to a regulatory asset or liability, as appropriate. Xcel Energy had no derivative instruments designated as fair value hedges during the three and nine months ended Sept. 30, 2021 and 2020. Credit Related Contingent Features — Contract provisions for derivative instruments that the utility subsidiaries enter, including those accounted for as normal purchase-normal sale contracts and therefore not reflected on the consolidated balance sheets, may require the posting of collateral or settlement of the contracts for various reasons, including if the applicable utility subsidiary’s credit ratings are downgraded below its investment grade credit rating by any of the major credit rating agencies. At Sept. 30, 2021 and Dec. 31, 2020, there were $2 million and $4 million, respectively, of derivative liabilities with such underlying contract provisions. Certain contracts also contain cross default provisions that may require the posting of collateral or settlement of the contracts if there was a failure under other financing arrangements related to payment terms or other covenants. As of Sept. 30, 2021 and Dec. 31, 2020, there were approximately $62 million and $60 million, respectively, of derivative liabilities with such underlying contract provisions. Certain derivative instruments are also subject to contract provisions that contain adequate assurance clauses. These provisions allow counterparties to seek performance assurance, including cash collateral, in the event that a given utility subsidiary’s ability to fulfill its contractual obligations is reasonably expected to be impaired. Xcel Energy had no collateral posted related to adequate assurance clauses in derivative contracts as of Sept. 30, 2021 and Dec. 31, 2020 . Recurring Fair Value Measurements — Derivative assets and liabilities measured at fair value on a recurring basis: Sept. 30, 2021 Dec. 31, 2020 Fair Value Fair Value Total Netting (a) Total Fair Value Fair Value Total Netting (a) Total (Millions of Dollars) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Current derivative assets Derivatives designated as cash flow hedges: Interest rate $ — $ 4 $ — $ 4 $ — $ 4 $ — $ — $ — $ — $ — $ — Other derivative instruments: Commodity trading $ 50 $ 240 $ 23 $ 313 $ (253) $ 60 $ 2 $ 67 $ 1 $ 70 $ (52) $ 18 Electric commodity — — 83 83 (1) 82 — — 20 20 (1) 19 Natural gas commodity — 79 — 79 — 79 — 9 — 9 — 9 Total current derivative assets $ 50 $ 323 $ 106 $ 479 $ (254) 225 $ 2 $ 76 $ 21 $ 99 $ (53) 46 PPAs (b) 3 3 Current derivative instruments $ 228 $ 49 Noncurrent derivative assets Other derivative instruments: Commodity trading $ 23 $ 72 $ 99 $ 194 $ (129) $ 65 $ 8 $ 66 $ 8 $ 82 $ (62) $ 20 Total noncurrent derivative assets $ 23 $ 72 $ 99 $ 194 $ (129) 65 $ 8 $ 66 $ 8 $ 82 $ (62) 20 PPAs (b) 7 10 Noncurrent derivative instruments $ 72 $ 30 Sept. 30, 2021 Dec. 31, 2020 Fair Value Fair Value Total Netting (a) Total Fair Value Fair Value Total Netting (a) Total (Millions of Dollars) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Current derivative liabilities Other derivative instruments: Commodity trading $ 48 $ 239 $ 25 $ 312 $ (253) $ 59 $ 4 $ 64 $ 17 $ 85 $ (58) $ 27 Electric commodity — — 1 1 (1) — — — 1 1 (1) — Natural gas commodity — — — — — — — 9 — 9 — 9 Total current derivative liabilities $ 48 $ 239 $ 26 $ 313 $ (254) 59 $ 4 $ 73 $ 18 $ 95 $ (59) 36 PPAs (b) 17 17 Current derivative instruments $ 76 $ 53 Noncurrent derivative liabilities Other derivative instruments: Commodity trading $ 22 $ 69 $ 120 $ 211 $ (156) $ 55 $ 3 $ 58 $ 60 $ 121 $ (47) $ 74 Total noncurrent derivative liabilities $ 22 $ 69 $ 120 $ 211 $ (156) 55 $ 3 $ 58 $ 60 $ 121 $ (47) 74 PPAs (b) 44 57 Noncurrent derivative instruments $ 99 $ 131 (a) Xcel Energy 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 Sept. 30, 2021 and Dec. 31, 2020. At both Sept. 30, 2021 and Dec. 31, 2020, derivative assets and liabilities include $15 million of obligations to return cash collateral. At Sept. 30, 2021 and Dec. 31, 2020, derivative assets and liabilities include rights to reclaim cash collateral of $42 million and $6 million, respectively. Counterparty netting amounts presented exclude settlement receivables and payables and non-derivative amounts that may be subject to the same master netting agreements. (b) During 2006, Xcel Energy qualified these contracts under the normal purchase exception. Based on this qualification, contracts are no longer adjusted to fair value and the previous carrying value of these contracts is being amortized over the remaining contract lives along with the offsetting regulatory assets and liabilities. Changes in Level 3 commodity derivatives: Three Months Ended Sept. 30 (Millions of Dollars) 2021 2020 Balance at July 1 $ 71 $ 34 Purchases 2 — Settlements (53) (17) Net transactions recorded during the period: Gains (losses) recognized in earnings (a) 12 (25) Net gains recognized as regulatory assets and liabilities 27 2 Balance at Sept. 30 $ 59 $ (6) Nine Months Ended Sept. 30 (Millions of Dollars) 2021 2020 Balance at Jan. 1 $ (49) $ 4 Purchases 65 49 Settlements (101) (59) Net transactions recorded during the period: Gains (losses) recognized in earnings (a) 59 (11) Net gains recognized as regulatory assets and liabilities 85 11 Balance at Sept. 30 $ 59 $ (6) (a) Presented amounts relate to instruments held at the end of the period. The consolidated income statement also includes gains and losses on Level 1 and 2 instruments, and Level 3 instruments settled during the period. Xcel Energy recognizes transfers between levels as of the beginning of each period. There were no transfers of amounts between levels for derivative instruments for the three and nine months ended Sept. 30, 2021 and 2020. Fair Value of Long-Term Debt Other financial instruments for which the carrying amount did not equal fair value: Sept. 30, 2021 Dec. 31, 2020 (Millions of Dollars) Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt, including current portion $ 21,600 $ 24,657 $ 20,066 $ 24,412 Fair value of Xcel Energy’s long-term debt is estimated based on recent trades and observable spreads from benchmark interest rates for similar securities. Fair value estimates are based on information available to management as of Sept. 30, 2021 and Dec. 31, 2020 and given the observability of the inputs, fair values presented for long-term debt were assigned as Level 2.

Benefit Plans and Other Postret

Benefit Plans and Other Postretirement Benefits	9 Months Ended
	Sep. 30, 2021
Retirement Benefits [Abstract]
Benefit Plans and Other Postretirement Benefits	Components of Net Periodic Benefit Cost (Credit) Three Months Ended Sept. 30 2021 2020 2021 2020 (Millions of Dollars) Pension Benefits Postretirement Health Service cost $ 26 $ 24 $ — $ — Interest cost (a) 26 31 4 5 Expected return on plan assets (a) (52) (52) (4) (5) Amortization of prior service credit (a) — (1) (2) (2) Amortization of net loss (a) 27 25 1 1 Settlement charge (b) 39 — — — Net periodic benefit cost (credit) 66 27 (1) (1) Effects of regulation (31) 4 1 1 Net benefit cost (credit) recognized for financial reporting $ 35 $ 31 $ — $ — Nine Months Ended Sept. 30 2021 2020 2021 2020 (Millions of Dollars) Pension Benefits Postretirement Health Service cost $ 78 $ 72 $ 1 $ 1 Interest cost (a) 78 94 11 14 Expected return on plan assets (a) (155) (156) (13) (15) Amortization of prior service credit (a) (1) (3) (6) (6) Amortization of net loss (a) 81 74 4 3 Settlement charge (b) 39 — — — Net periodic benefit cost (credit) 120 81 (3) (3) Effects of regulation (32) 7 2 2 Net benefit cost (credit) recognized for financial reporting $ 88 $ 88 $ (1) $ (1) (a) The components of net periodic cost other than the service cost component are included in the line item “Other (expense) income, net” in the consolidated statements of income or capitalized on the consolidated balance sheets as a regulatory asset. (b) A settlement charge is required when the amount of all lump-sum distributions during the year is greater than the sum of the service and interest cost components of the annual net periodic pension cost. In the third quarter of 2021 as a result of lump-sum distributions during the 2021 plan year, Xcel Energy recorded a total pension settlement charge of $39 million, the majority of which was not recognized in earnings due to the effects of regulation. A total of $4 million of that amount was recorded in other expense in the third quarter 2021.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Environmental MGP, Landfill and Disposal Sites Xcel Energy is investigating, remediating or performing post-closure actions at 14 MGP, landfill or other disposal sites across its service territories. Xcel Energy has recognized its best estimate of costs/liabilities from final resolution of these issues, however, the outcome and timing is unknown. In addition, there may be insurance recovery and/or recovery from other potentially responsible parties, offsetting a portion of costs incurred. Environmental Requirements — Water and Waste Coal Ash Regulation — Xcel Energy’s operations are subject to federal and state regulations that impose requirements for handling, storage, treatment and disposal of solid waste. Under the CCR Rule, utilities are required to complete groundwater sampling around their CCR landfills and surface impoundments. Currently, Xcel Energy has eight regulated ash units in operation. Xcel Energy is conducting groundwater sampling and monitoring and implementing assessment of corrective measures at certain CCR landfills and surface impoundments. In NSP-Minnesota, no results above the groundwater protection standards in the rule were identified. In PSCo, increases above background concentrations were detected at four locations. Based on further assessments, PSCo is evaluating options for corrective action at two locations, one of which indicates potential offsite impacts to groundwater. The total cost is uncertain, but could be up to $35 million. PSCo is continuing to assess the financial and regulatory impacts. In August 2020, the EPA published its final rule to implement closure by April 2021 for all CCR impoundments affected by the August 2018 D.C. Circuit ruling. This final rule required Xcel Energy to expedite closure plans for two impoundments. In October 2020, NSP-Minnesota completed construction and placed in service a new impoundment to replace the clay lined impoundment at a cost of $9 million. With the new ash pond in service, NSP-Minnesota has initiated closure activities for the existing ash pond at an estimated cost of $4 million. NSP-Minnesota has five years to complete closure activities. PSCo also built an alternative collection and treatment system to remove the Comanche Station bottom ash pond from service. The total cost of the alternate treatment system is approximately $25 million. PSCo worked expeditiously to meet the April 11, 2021 deadline, but was not able to remove the pond from service until June 18, 2021. PSCo expects to negotiate a compliance order with the EPA. PSCo will also now proceed with closure of the pond, with an estimated cost of $3 million. Closure costs for existing impoundments are included in the calculation of the asset retirement obligation.	The following includes commitments, contingencies and unresolved contingencies that are material to Xcel Energy’s financial position. Leases Xcel Energy evaluates contracts that may contain leases, including PPAs and arrangements for the use of office space and other facilities, vehicles and equipment. A contract contains a lease if it conveys the exclusive right to control the use of a specific asset. Components of lease expense: Three Months Ended Sept. 30 (Millions of Dollars) 2021 2020 Operating leases PPA capacity payments $ 56 $ 56 Other operating leases (a) 2 5 Total operating lease expense (b) $ 58 $ 61 Finance leases Amortization of ROU assets $ 2 $ 2 Interest expense on lease liability 4 4 Total finance lease expense $ 6 $ 6 (a) Includes short-term lease expense o f $1 million and $2 million for 2021 and 2020, respectively. (b) PPA capacity payments are included in electric fuel and purchased power on the consolidated statements of income. Expense for other operating leases is included in O&M expense and electric fuel and purchased power. Nine Months Ended Sept. 30 (Millions of Dollars) 2021 2020 Operating leases PPA capacity payments $ 170 $ 145 Other operating leases (a) 19 22 Total operating lease expense (b) $ 189 $ 167 Finance leases Amortization of ROU assets $ 6 $ 5 Interest expense on lease liability 12 13 Total finance lease expense $ 18 $ 18 (a) Includes short-term lease expense of $4 million for 2021 and 2020, respectively. (b) PPA capacity payments are included in electric fuel and purchased power on the consolidated statements of income. Expense for other operating leases is included in O&M expense and electric fuel and purchased power. Commitments under operating and finance leases as of Sept. 30, 2021: (Millions of Dollars) PPA Operating Other Operating Total Operating Finance Leases (a) Total minimum obligation $ 1,470 $ 191 $ 1,661 $ 246 Interest component of obligation (221) (35) (256) (173) Present value of minimum obligation $ 1,249 156 1,405 73 Less current portion (218) (3) Noncurrent operating and finance lease liabilities $ 1,187 $ 70 (a) Excludes certain amounts related to Xcel Energy’s 50% ownership interest in WYCO. VIEs Under certain PPAs, NSP-Minnesota, PSCo and SPS purchase power from IPPs for which the utility subsidiaries are required to reimburse fuel costs, or to participate in tolling arrangements under which the utility subsidiaries procure the natural gas required to produce the energy that they purchase. These specific PPAs create a variable interest in the IPP. The utility subsidiaries had approxi mately 4,062 MW of capacity under long-term PPAs at both Sept. 30, 2021 and Dec. 31, 2020 with entities that have been determined to be VIEs. Xcel Energy concluded that these entities are not required to be consolidated in its financial statements because it does not have the power to direct the activities that most significantly impact the entities’ economic performance. The PPAs have expiration dates through 2041. Other Guarantees and Bond Indemnifications — Xcel Energy Inc. and its subsidiaries provide guarantees and bond indemnities, which guarantee payment or performance. Xcel Energy Inc.’s exposure is based upon the net liability under the agreements. Most of the guarantees and bond indemnities issued by Xcel Energy Inc. and its subsidiaries have a stated maximum amount. As of Sept. 30, 2021 and Dec. 31, 2020, Xcel Energy Inc. and its subsidiaries had no assets held as collateral related to their guarantees, bond indemnities and indemnification agreements. Guarantees and bond indemnities issued and outstanding for Xcel Energy were approximately $60 million and $62 million at Sept. 30, 2021 and Dec. 31, 2020, respectively. Other Indemnification Agreements — Xcel Energy Inc. and its subsidiaries provide indemnifications through various contracts. These are primarily indemnifications against adverse litigation outcomes in connection with underwriting agreements, as well as breaches of representations and warranties, including corporate existence, transaction authorization and income tax matters with respect to assets sold. Xcel Energy Inc.’s and its subsidiaries’ obligations under these agreements may be limited in duration and amount. Maximum future payments under these indemnifications cannot be reasonably estimated.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Other Comprehensive Income (Loss)	Changes in accumulated other comprehensive loss, net of tax, for the three and nine months ended Sept. 30, 2021 and 2020: Three Months Ended Sept. 30, 2021 Three Months Ended Sept. 30, 2020 (Millions of Dollars) Gains and Losses on Cash Flow Hedges Defined Benefit Pension and Postretirement Items Total Gains and Losses on Cash Flow Hedges Defined Benefit Pension and Postretirement Items Total Accumulated other comprehensive loss at July 1 $ (80) $ (55) $ (135) $ (87) $ (58) $ (145) Other comprehensive gain before reclassifications (net of taxes of $1, $—, $— and $—, respectively) 3 — 3 — — — Losses reclassified from net accumulated other comprehensive loss: Interest rate derivatives (net of taxes of $—, $—, $— and $—, respectively) (a) 2 — 2 1 — 1 Amortization of net actuarial loss (net of taxes of $—, $1, $— and $—, respectively) (b) — 4 4 — 1 1 Net current period other comprehensive income 5 4 9 1 1 2 Accumulated other comprehensive loss at Sept. 30 $ (75) $ (51) $ (126) $ (86) $ (57) $ (143) Nine Months Ended Sept. 30, 2021 Nine Months Ended Sept. 30, 2020 (Millions of Dollars) Gains and Losses on Cash Flow Hedges Defined Benefit Pension and Postretirement Items Total Gains and Losses on Cash Flow Hedges Defined Benefit Pension and Postretirement Items Total Accumulated other comprehensive loss at Jan. 1 $ (85) $ (56) $ (141) $ (80) $ (61) $ (141) Other comprehensive gain (loss) before reclassifications (net of taxes of $1, $—, $(3) and $—, respectively) 4 — 4 (10) — (10) Losses reclassified from net accumulated other comprehensive loss: Interest rate derivatives (net of taxes of $1, $—, $1 and $—, respectively) (a) 6 — 6 4 — 4 Amortization of net actuarial loss (net of taxes of $—, $2, $— and $1, respectively) (b) — 5 5 — 4 4 Net current period other comprehensive income (loss) 10 5 15 (6) 4 (2) Accumulated other comprehensive loss at Sept. 30 $ (75) $ (51) $ (126) $ (86) $ (57) $ (143) (a) Included in interest charges. (b) Included in the computation of net periodic pension and postretirement benefit costs.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Segment Information	Xcel Energy evaluates performance by each utility subsidiary based on profit or loss generated from the product or service provided including the regulated electric utility operating results of NSP-Minnesota, NSP-Wisconsin, PSCo and SPS, as well as the regulated natural gas utility operating results of NSP-Minnesota, NSP-Wisconsin and PSCo. These segments are managed separately because the revenue streams are dependent upon regulated rate recovery, which is separately determined for each segment. Xcel Energy has the following reportable segments: • Regulated Electric — The regulated electric utility segment generates, transmits and distributes electricity in Minnesota, Wisconsin, Michigan, North Dakota, South Dakota, Colorado, Texas and New Mexico. In addition, this segment includes sales for resale and provides wholesale transmission service to various entities in the United States. The regulated electric utility segment also includes wholesale commodity and trading operations. • Regulated Natural Gas — The regulated natural gas utility segment transports, stores and distributes natural gas primarily in portions of Minnesota, Wisconsin, North Dakota, Michigan and Colorado. Xcel Energy also presents All Other, which includes operating segments with revenues below the necessary quantitative thresholds. Those operating segments primarily include steam revenue, appliance repair services, non-utility real estate activities, revenues associated with processing solid waste into refuse-derived fuel, investments in rental housing projects that qualify for low-income housing tax credits and the operations of MEC until July 2020. Xcel Energy had equity method investments of $204 million and $165 million as of Sept. 30, 2021 and Dec. 31, 2020, respectively, included in the natural gas utility and all other segments. Asset and capital expenditure information is not provided for Xcel Energy’s reportable segments. As an integrated electric and natural gas utility, Xcel Energy operates significant assets that are not dedicated to a specific business segment. Reporting assets and capital expenditures by business segment would require arbitrary and potentially misleading allocations, which may not necessarily reflect the assets that would be required for the operation of the business segments on a stand-alone basis. Certain costs, such as common depreciation, common O&M expenses and interest expense are allocated based on cost causation allocators across each segment. In addition, a general allocator is used for certain general and administrative expenses, including office supplies, rent, property insurance and general advertising. Xcel Energy’s segment information: Three Months Ended Sept. 30 (Millions of Dollars) 2021 2020 Regulated Electric Operating revenues — external $ 3,176 $ 2,941 Intersegment revenue — 1 Total revenues $ 3,176 $ 2,942 Net income 629 632 Regulated Natural Gas Operating revenues — external $ 268 $ 219 Intersegment revenue 1 — Total revenues 269 219 Net income 10 — All Other Total revenues $ 23 $ 22 Net loss (30) (29) Consolidated Total Total revenues $ 3,468 $ 3,183 Reconciling eliminations (1) (1) Total operating revenues $ 3,467 $ 3,182 Net income 609 603 Nine Months Ended Sept. 30 (Millions of Dollars) 2021 2020 Regulated Electric Operating revenues — external $ 8,643 $ 7,430 Intersegment revenue 1 1 Total revenues $ 8,644 $ 7,431 Net income 1,202 1,148 Regulated Natural Gas Operating revenues — external $ 1,364 $ 1,082 Intersegment revenue 2 1 Total revenues 1,366 1,083 Net income $ 161 $ 111 All Other Total revenues 69 67 Net loss $ (81) $ (74) Consolidated Total Total revenues $ 10,079 $ 8,581 Reconciling eliminations (3) (2) Total operating revenues $ 10,076 $ 8,579 Net income 1,282 1,185

Selected Balance Sheet Data (Ta

Selected Balance Sheet Data (Tables)	9 Months Ended
	Sep. 30, 2021
Balance Sheet Related Disclosures [Abstract]
Accounts receivable, net	(Millions of Dollars) Sept. 30, 2021 Dec. 31, 2020 Accounts receivable, net Accounts receivable $ 1,119 $ 995 Less allowance for bad debts (97) (79) Accounts receivable, net $ 1,022 $ 916
Inventories	(Millions of Dollars) Sept. 30, 2021 Dec. 31, 2020 Inventories Materials and supplies $ 283 $ 275 Fuel 155 176 Natural gas 149 84 Total inventories $ 587 $ 535
Property, plant and equipment, net	(Millions of Dollars) Sept. 30, 2021 Dec. 31, 2020 Property, plant and equipment, net Electric plant $ 49,293 $ 47,104 Natural gas plant 7,443 7,135 Common and other property 2,519 2,503 Plant to be retired (a) 603 677 Construction work in progress 2,263 1,877 Total property, plant and equipment 62,121 59,296 Less accumulated depreciation (17,711) (16,657) Nuclear fuel 3,065 2,970 Less accumulated amortization (2,745) (2,659) Property, plant and equipment, net $ 44,730 $ 42,950 (a) Includes regulator-approved retirements of Comanche Units 1 and 2 and jointly owned Craig Unit 1 for PSCo and Sherco Units 1 and 2 for NSP-Minnesota. Also includes SPS’ expected retirement of Tolk and conversion of Harrington to natural gas, and PSCo’s planned retirement of jointly owned Craig Unit 2.

Borrowings and Other Financin_2

Borrowings and Other Financing Instruments (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Commercial paper and term loan borrowings	Commercial paper and term loan borrowings outstanding for Xcel Energy: (Amounts in Millions, Except Interest Rates) Three Months Ended Sept. 30, 2021 Year Ended Dec. 31, 2020 Borrowing limit $ 4,300 $ 3,100 Amount outstanding at period end 1,747 584 Average amount outstanding 1,742 1,126 Maximum amount outstanding 1,857 2,080 Weighted average interest rate, computed on a daily basis 0.57 % 1.45 % Weighted average interest rate at period end 0.56 0.23 (Millions of Dollars) Limit Amount Used Available Xcel Energy Inc. $ 1,200 $ 1,200 $ —
Credit Facilities	As of Sept. 30, 2021, Xcel Energy Inc. and its utility subsidiaries had the following committed revolving credit facilities available: (Millions of Dollars) Credit Facility (a) Drawn (b) Available Xcel Energy Inc. $ 1,250 $ 529 $ 721 PSCo 700 8 692 NSP-Minnesota 500 9 491 SPS 500 20 480 NSP-Wisconsin 150 — 150 Total $ 3,100 $ 566 $ 2,534 (a) Expires in June 2024. (b) Includes outstanding commercial paper and letters of credit. As of Sept. 30, 2021, NSP-Minnesota’s outstanding letters of credit under the bilateral credit agreement were as follows: (Millions of Dollars) Limit Amount Outstanding Available NSP-Minnesota $ 75 $ 41 $ 34

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Xcel Energy’s operating revenues consisted of the following: Three Months Ended Sept. 30, 2021 (Millions of Dollars) Electric Natural Gas All Other Total Major revenue types Revenue from contracts with customers: Residential $ 999 $ 133 $ 12 $ 1,144 C&I 1,515 76 7 1,598 Other 35 — 1 36 Total retail 2,549 209 20 2,778 Wholesale 288 — — 288 Transmission 167 — — 167 Other 17 45 — 62 Total revenue from contracts with customers 3,021 254 20 3,295 Alternative revenue and other 155 14 3 172 Total revenues $ 3,176 $ 268 $ 23 $ 3,467 Three Months Ended Sept. 30, 2020 (Millions of Dollars) Electric Natural Gas All Other Total Major revenue types Revenue from contracts with customers: Residential $ 962 $ 124 $ 11 $ 1,097 C&I 1,340 56 5 1,401 Other 34 — 2 36 Total retail 2,336 180 18 2,534 Wholesale 227 — — 227 Transmission 157 — — 157 Other 17 28 — 45 Total revenue from contracts with customers 2,737 208 18 2,963 Alternative revenue and other 204 11 4 219 Total revenues $ 2,941 $ 219 $ 22 $ 3,182 Nine Months Ended Sept. 30, 2021 (Millions of Dollars) Electric Natural Gas All Other Total Major revenue types Revenue from contracts with customers: Residential $ 2,488 $ 774 $ 33 $ 3,295 C&I 3,830 389 22 4,241 Other 96 — 5 101 Total retail 6,414 1,163 60 7,637 Wholesale 1,265 — — 1,265 Transmission 461 — — 461 Other 51 106 — 157 Total revenue from contracts with customers 8,191 1,269 60 9,520 Alternative revenue and other 452 95 9 556 Total revenues $ 8,643 $ 1,364 $ 69 $ 10,076 Nine Months Ended Sept. 30, 2020 (Millions of Dollars) Electric Natural Gas All Other Total Major revenue types Revenue from contracts with customers: Residential $ 2,356 $ 647 $ 32 $ 3,035 C&I 3,481 308 20 3,809 Other 94 — 4 98 Total retail 5,931 955 56 6,942 Wholesale 553 — — 553 Transmission 442 — — 442 Other 55 86 — 141 Total revenue from contracts with customers 6,981 1,041 56 8,078 Alternative revenue and other 449 41 11 501 Total revenues $ 7,430 $ 1,082 $ 67 $ 8,579

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Difference between the statutory rate and ETR: Three Months Ended Sept. 30 Nine Months Ended Sept. 30 2021 2020 2021 2020 Federal statutory rate 21.0 % 21.0 % 21.0 % 21.0 % State tax (net of federal tax effect) 5.0 5.0 5.0 5.1 Decreases: Wind PTCs (12.1) (8.0) (20.0) (13.2) Plant regulatory differences (a) (5.8) (7.2) (6.0) (7.4) NOL carryback — (1.9) — (1.0) Other (net) (1.5) (2.2) (1.3) (2.5) Effective income tax rate 6.6 % 6.7 % (1.3) % 2.0 % (a) Regulatory differences for income tax primarily relate to the credit of excess deferred taxes to customers through the average rate assumption method. Income tax benefits associated with the credit of excess deferred credits are offset by corresponding revenue reductions.
Summary of Statute of Limitations Applicable to Open Tax Years [Table Text Block]	Federal Audits — Statute of limitations applicable to Xcel Energy’s consolidated federal income tax returns expire as follows: Tax Years Expiration 2014 — 2016 December 2022 2018 September 2022
Earliest Open Tax Years Subject to Examination by State Taxing Authorities in the Major Operating Jurisdictions	As of Sept. 30, 2021, Xcel Energy’s earliest open tax years (subject to examination by state taxing authorities in its major operating jurisdictions) were as follows: State Year Colorado 2014 Minnesota 2013 Texas 2012 Wisconsin 2016 • In February 2021, Minnesota concluded its review and commenced an audit of tax years 2015 - 2018. No material adjustments have been proposed. • In March 2021, Wisconsin began an audit of tax years 2016 - 2019. No material adjustments have been proposed. • In April 2021, Texas began an audit of tax years 2016 - 2019. No material adjustments have been proposed. • No other state income tax audits were in progress as of Sept. 30, 2021.
Reconciliation of Unrecognized Tax Benefits	Unrecognized tax benefits — permanent vs. temporary: (Millions of Dollars) Sept. 30, 2021 Dec. 31, 2020 Unrecognized tax benefit — Permanent tax positions $ 46 $ 41 Unrecognized tax benefit — Temporary tax positions 11 11 Total unrecognized tax benefit $ 57 $ 52
Tax Benefits Associated with NOL and Tax Credit Carryforwards	Unrecognized tax benefits were reduced by tax benefits associated with NOL and tax credit carryforwards: (Millions of Dollars) Sept. 30, 2021 Dec. 31, 2020 NOL and tax credit carryforwards $ (35) $ (31)
Interest Payable related to Unrecognized Tax Benefits	Interest payable related to unrecognized tax benefits: (Millions of Dollars) Sept. 30, 2021 Dec. 31, 2020 Payable for interest related to unrecognized tax benefits at beginning of period $ (3) $ — Interest expense related to unrecognized tax benefits — (3) Payable for interest related to unrecognized tax benefits at end of period $ (3) $ (3)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares [Table Text Block]	Common shares outstanding used in the basic and diluted EPS computation: Three Months Ended Sept. 30 Nine Months Ended Sept. 30 (Shares in Millions) 2021 2020 2021 2020 Basic 539 526 539 526 Diluted (a) 539 528 539 527 (a) Diluted common shares outstanding included common stock equivalents of 0.3 million an d 1.6 million for the three months ended Sept. 30, 2021 and 2020, respectively. Diluted common shares outstanding included common stock equivalents of 0.3 million and 1.0 million for the nine months ended Sept. 30, 2021 and 2020, respectively.

Fair Value of Financial Asset_2

Fair Value of Financial Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Cost and Fair Value of Nuclear Decommissioning Fund Investments	Non-derivative instruments with recurring fair value measurements in the nuclear decommissioning fund: Sept. 30, 2021 Fair Value (Millions of Dollars) Cost Level 1 Level 2 Level 3 NAV Total Nuclear decommissioning fund (a) Cash equivalents $ 38 $ 38 $ — $ — $ — $ 38 Commingled funds 821 — — — 1,208 1,208 Debt securities 620 — 643 15 — 658 Equity securities 407 1,178 2 — — 1,180 Total $ 1,886 $ 1,216 $ 645 $ 15 $ 1,208 $ 3,084 (a) Reported in nuclear decommissioning fund and other investments on the consolidated balance sheets, which also includes $204 million of equity method investments and $158 million of rabbi trust assets and miscellaneous investments. Dec. 31, 2020 Fair Value (Millions of Dollars) Cost Level 1 Level 2 Level 3 NAV Total Nuclear decommissioning fund (a) Cash equivalents $ 40 $ 40 $ — $ — $ — $ 40 Commingled funds 787 — — — 1,041 1,041 Debt securities 528 — 572 13 — 585 Equity securities 446 1,109 2 — — 1,111 Total $ 1,801 $ 1,149 $ 574 $ 13 $ 1,041 $ 2,777 (a) Reported in nuclear decommissioning fund and other investments on the consolidated balance sheets, which also includes $165 million of equity method investments and $154 million of rabbi trust assets and other miscellaneous investments.
Final Contractual Maturity Dates of Debt Securities in the Nuclear Decommissioning Fund by Asset Class	Contractual maturity dates of debt securities in the nuclear decommissioning fund as of Sept. 30, 2021: Final Contractual Maturity (Millions of Dollars) Due in 1 year or Less Due in 1 to 5 Years Due in 5 to 10 Years Due after 10 years Total Debt securities $ 2 $ 153 $ 204 $ 299 $ 658
Rabbi Trust Securities Amortized Cost and Fair Value Measured on Recurrring Basis [Table Text Block]	Cost and fair value of assets held in rabbi trusts: Sept. 30, 2021 Fair Value (Millions of Dollars) Cost Level 1 Level 2 Level 3 Total Rabbi Trusts (a) Cash equivalents $ 17 $ 17 $ — $ — $ 17 Mutual funds 71 84 — — 84 Total $ 88 $ 101 $ — $ — $ 101 Dec. 31, 2020 Fair Value (Millions of Dollars) Cost Level 1 Level 2 Level 3 Total Rabbi Trusts (a) Cash equivalents $ 32 $ 32 $ — $ — $ 32 Mutual funds 60 70 — — 70 Total $ 92 $ 102 $ — $ — $ 102 (a) Reported in nuclear decommissioning fund and other investments on the consolidated balance sheets.
Gross Notional Amounts of Commodity Forwards, Options, and FTRs	Gross notional amounts of commodity forwards, options and FTRs: (Amounts in Millions) (a)(b) Sept. 30, 2021 Dec. 31, 2020 Megawatt hours of electricity 101 87 Million British thermal units of natural gas 184 175 (a) Not reflective of net positions in the underlying commodities. (b) Notional amounts for options included on a gross basis but weighted for the probability of exercise.
Impact of Derivative Activity on Accumulated Other Comprehensive Loss, Regulatory Assets and Liabilities, and Income	Impact of Derivative Activity — Pre-Tax Fair Value Gains (Losses) Recognized During the Period in: (Millions of Dollars) Accumulated Other Comprehensive Loss Regulatory (Assets) and Liabilities Three Months Ended Sept. 30, 2021 Derivatives designated as cash flow hedges: Interest rate $ 4 $ — Total $ 4 $ — Other derivative instruments: Electric commodity $ — $ 5 Natural gas commodity — 57 Total $ — $ 62 Nine Months Ended Sept. 30, 2021 Derivatives designated as cash flow hedges: Interest rate $ 5 $ — Total $ 5 $ — Other derivative instruments: Electric commodity $ — $ 18 Natural gas commodity — 57 Total $ — $ 75 Three Months Ended Sept. 30, 2020 Other derivative instruments: Electric commodity $ — $ (3) Natural gas commodity — 2 Total $ — $ (1) Nine Months Ended Sept. 30, 2020 Derivatives designated as cash flow hedges: Interest rate $ (13) $ — Total $ (13) $ — Other derivative instruments: Electric commodity $ — $ (3) Natural gas commodity — (1) Total $ — $ (4) Pre-Tax (Gains) Losses Reclassified into Income During the Period from: Pre-Tax Gains (Losses) Recognized During the Period in Income (Millions of Dollars) Accumulated Other Comprehensive Loss Regulatory Assets and (Liabilities) Three Months Ended Sept. 30, 2021 Derivatives designated as cash flow hedges: Interest rate $ 2 (a) $ — $ — Total $ 2 $ — $ — Other derivative instruments: Commodity trading $ — $ — $ 1 (b) Electric commodity — 3 (c) — Total $ — $ 3 $ 1 Nine Months Ended Sept. 30, 2021 Derivatives designated as cash flow hedges: Interest rate $ 7 (a) $ — $ — Total $ 7 $ — $ — Other derivative instruments: Commodity trading $ — $ — $ 49 (b) Electric commodity — (26) (c) — Natural gas commodity — 8 (d) (10) (d) Total $ — $ (18) $ 39 Three Months Ended Sept. 30, 2020 Derivatives designated as cash flow hedges: Interest rate $ 1 (a) $ — $ — Total $ 1 $ — $ — Other derivative instruments: Commodity trading $ — $ — $ 2 (b) Electric commodity — (3) (c) — Total $ — $ (3) $ 2 Nine Months Ended Sept. 30, 2020 Derivatives designated as cash flow hedges: Interest rate $ 5 (a) $ — $ — Total $ 5 $ — $ — Other derivative instruments: Commodity trading $ — $ — $ (1) (b) Electric commodity — (6) (c) — Natural gas commodity — 5 (d) (6) (d) Total $ — $ (1) $ (7) (a) Recorded to interest charges. (b) Recorded to electric operating revenues. Portions of these gains and losses are subject to sharing with electric customers through margin-sharing mechanisms and deducted from gross revenue, as appropriate. (c) Recorded to electric fuel and purchased power. These derivative settlement gains and losses are shared with electric customers through fuel and purchased energy cost-recovery mechanisms, and reclassified out of income as regulatory assets or liabilities, as appropriate.
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Recurring Fair Value Measurements — Derivative assets and liabilities measured at fair value on a recurring basis: Sept. 30, 2021 Dec. 31, 2020 Fair Value Fair Value Total Netting (a) Total Fair Value Fair Value Total Netting (a) Total (Millions of Dollars) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Current derivative assets Derivatives designated as cash flow hedges: Interest rate $ — $ 4 $ — $ 4 $ — $ 4 $ — $ — $ — $ — $ — $ — Other derivative instruments: Commodity trading $ 50 $ 240 $ 23 $ 313 $ (253) $ 60 $ 2 $ 67 $ 1 $ 70 $ (52) $ 18 Electric commodity — — 83 83 (1) 82 — — 20 20 (1) 19 Natural gas commodity — 79 — 79 — 79 — 9 — 9 — 9 Total current derivative assets $ 50 $ 323 $ 106 $ 479 $ (254) 225 $ 2 $ 76 $ 21 $ 99 $ (53) 46 PPAs (b) 3 3 Current derivative instruments $ 228 $ 49 Noncurrent derivative assets Other derivative instruments: Commodity trading $ 23 $ 72 $ 99 $ 194 $ (129) $ 65 $ 8 $ 66 $ 8 $ 82 $ (62) $ 20 Total noncurrent derivative assets $ 23 $ 72 $ 99 $ 194 $ (129) 65 $ 8 $ 66 $ 8 $ 82 $ (62) 20 PPAs (b) 7 10 Noncurrent derivative instruments $ 72 $ 30 Sept. 30, 2021 Dec. 31, 2020 Fair Value Fair Value Total Netting (a) Total Fair Value Fair Value Total Netting (a) Total (Millions of Dollars) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Current derivative liabilities Other derivative instruments: Commodity trading $ 48 $ 239 $ 25 $ 312 $ (253) $ 59 $ 4 $ 64 $ 17 $ 85 $ (58) $ 27 Electric commodity — — 1 1 (1) — — — 1 1 (1) — Natural gas commodity — — — — — — — 9 — 9 — 9 Total current derivative liabilities $ 48 $ 239 $ 26 $ 313 $ (254) 59 $ 4 $ 73 $ 18 $ 95 $ (59) 36 PPAs (b) 17 17 Current derivative instruments $ 76 $ 53 Noncurrent derivative liabilities Other derivative instruments: Commodity trading $ 22 $ 69 $ 120 $ 211 $ (156) $ 55 $ 3 $ 58 $ 60 $ 121 $ (47) $ 74 Total noncurrent derivative liabilities $ 22 $ 69 $ 120 $ 211 $ (156) 55 $ 3 $ 58 $ 60 $ 121 $ (47) 74 PPAs (b) 44 57 Noncurrent derivative instruments $ 99 $ 131 (a) Xcel Energy 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 Sept. 30, 2021 and Dec. 31, 2020. At both Sept. 30, 2021 and Dec. 31, 2020, derivative assets and liabilities include $15 million of obligations to return cash collateral. At Sept. 30, 2021 and Dec. 31, 2020, derivative assets and liabilities include rights to reclaim cash collateral of $42 million and $6 million, respectively. Counterparty netting amounts presented exclude settlement receivables and payables and non-derivative amounts that may be subject to the same master netting agreements. (b) During 2006, Xcel Energy qualified these contracts under the normal purchase exception. Based on this qualification, contracts are no longer adjusted to fair value and the previous carrying value of these contracts is being amortized over the remaining contract lives along with the offsetting regulatory assets and liabilities.
Change in Level 3 Commodity Derivative	Changes in Level 3 commodity derivatives: Three Months Ended Sept. 30 (Millions of Dollars) 2021 2020 Balance at July 1 $ 71 $ 34 Purchases 2 — Settlements (53) (17) Net transactions recorded during the period: Gains (losses) recognized in earnings (a) 12 (25) Net gains recognized as regulatory assets and liabilities 27 2 Balance at Sept. 30 $ 59 $ (6) Nine Months Ended Sept. 30 (Millions of Dollars) 2021 2020 Balance at Jan. 1 $ (49) $ 4 Purchases 65 49 Settlements (101) (59) Net transactions recorded during the period: Gains (losses) recognized in earnings (a) 59 (11) Net gains recognized as regulatory assets and liabilities 85 11 Balance at Sept. 30 $ 59 $ (6) (a) Presented amounts relate to instruments held at the end of the period. The consolidated income statement also includes gains and losses on Level 1 and 2 instruments, and Level 3 instruments settled during the period.
Carrying Amount and Fair Value of Long-term Debt	Other financial instruments for which the carrying amount did not equal fair value: Sept. 30, 2021 Dec. 31, 2020 (Millions of Dollars) Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt, including current portion $ 21,600 $ 24,657 $ 20,066 $ 24,412

Benefit Plans and Other Postr_2

Benefit Plans and Other Postretirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2021
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost (Credit)	Components of Net Periodic Benefit Cost (Credit) Three Months Ended Sept. 30 2021 2020 2021 2020 (Millions of Dollars) Pension Benefits Postretirement Health Service cost $ 26 $ 24 $ — $ — Interest cost (a) 26 31 4 5 Expected return on plan assets (a) (52) (52) (4) (5) Amortization of prior service credit (a) — (1) (2) (2) Amortization of net loss (a) 27 25 1 1 Settlement charge (b) 39 — — — Net periodic benefit cost (credit) 66 27 (1) (1) Effects of regulation (31) 4 1 1 Net benefit cost (credit) recognized for financial reporting $ 35 $ 31 $ — $ — Nine Months Ended Sept. 30 2021 2020 2021 2020 (Millions of Dollars) Pension Benefits Postretirement Health Service cost $ 78 $ 72 $ 1 $ 1 Interest cost (a) 78 94 11 14 Expected return on plan assets (a) (155) (156) (13) (15) Amortization of prior service credit (a) (1) (3) (6) (6) Amortization of net loss (a) 81 74 4 3 Settlement charge (b) 39 — — — Net periodic benefit cost (credit) 120 81 (3) (3) Effects of regulation (32) 7 2 2 Net benefit cost (credit) recognized for financial reporting $ 88 $ 88 $ (1) $ (1) (a) The components of net periodic cost other than the service cost component are included in the line item “Other (expense) income, net” in the consolidated statements of income or capitalized on the consolidated balance sheets as a regulatory asset. (b) A settlement charge is required when the amount of all lump-sum distributions during the year is greater than the sum of the service and interest cost components of the annual net periodic pension cost. In the third quarter of 2021 as a result of lump-sum distributions during the 2021 plan year, Xcel Energy recorded a total pension settlement charge of $39 million, the majority of which was not recognized in earnings due to the effects of regulation. A total of $4 million of that amount was recorded in other expense in the third quarter 2021.

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Finance Lease, Liability, Fiscal Year Maturity		Commitments under operating and finance leases as of Sept. 30, 2021: (Millions of Dollars) PPA Operating Other Operating Total Operating Finance Leases (a) Total minimum obligation $ 1,470 $ 191 $ 1,661 $ 246 Interest component of obligation (221) (35) (256) (173) Present value of minimum obligation $ 1,249 156 1,405 73 Less current portion (218) (3) Noncurrent operating and finance lease liabilities $ 1,187 $ 70 (a) Excludes certain amounts related to Xcel Energy’s 50% ownership interest in WYCO.
Lease, Cost	Components of lease expense: Three Months Ended Sept. 30 (Millions of Dollars) 2021 2020 Operating leases PPA capacity payments $ 56 $ 56 Other operating leases (a) 2 5 Total operating lease expense (b) $ 58 $ 61 Finance leases Amortization of ROU assets $ 2 $ 2 Interest expense on lease liability 4 4 Total finance lease expense $ 6 $ 6 (a) Includes short-term lease expense o f $1 million and $2 million for 2021 and 2020, respectively.	Nine Months Ended Sept. 30 (Millions of Dollars) 2021 2020 Operating leases PPA capacity payments $ 170 $ 145 Other operating leases (a) 19 22 Total operating lease expense (b) $ 189 $ 167 Finance leases Amortization of ROU assets $ 6 $ 5 Interest expense on lease liability 12 13 Total finance lease expense $ 18 $ 18 (a) Includes short-term lease expense of $4 million for 2021 and 2020, respectively.

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Changes in Accumulated Other Comprehensive Income (Loss), Net of Tax	Changes in accumulated other comprehensive loss, net of tax, for the three and nine months ended Sept. 30, 2021 and 2020: Three Months Ended Sept. 30, 2021 Three Months Ended Sept. 30, 2020 (Millions of Dollars) Gains and Losses on Cash Flow Hedges Defined Benefit Pension and Postretirement Items Total Gains and Losses on Cash Flow Hedges Defined Benefit Pension and Postretirement Items Total Accumulated other comprehensive loss at July 1 $ (80) $ (55) $ (135) $ (87) $ (58) $ (145) Other comprehensive gain before reclassifications (net of taxes of $1, $—, $— and $—, respectively) 3 — 3 — — — Losses reclassified from net accumulated other comprehensive loss: Interest rate derivatives (net of taxes of $—, $—, $— and $—, respectively) (a) 2 — 2 1 — 1 Amortization of net actuarial loss (net of taxes of $—, $1, $— and $—, respectively) (b) — 4 4 — 1 1 Net current period other comprehensive income 5 4 9 1 1 2 Accumulated other comprehensive loss at Sept. 30 $ (75) $ (51) $ (126) $ (86) $ (57) $ (143) Nine Months Ended Sept. 30, 2021 Nine Months Ended Sept. 30, 2020 (Millions of Dollars) Gains and Losses on Cash Flow Hedges Defined Benefit Pension and Postretirement Items Total Gains and Losses on Cash Flow Hedges Defined Benefit Pension and Postretirement Items Total Accumulated other comprehensive loss at Jan. 1 $ (85) $ (56) $ (141) $ (80) $ (61) $ (141) Other comprehensive gain (loss) before reclassifications (net of taxes of $1, $—, $(3) and $—, respectively) 4 — 4 (10) — (10) Losses reclassified from net accumulated other comprehensive loss: Interest rate derivatives (net of taxes of $1, $—, $1 and $—, respectively) (a) 6 — 6 4 — 4 Amortization of net actuarial loss (net of taxes of $—, $2, $— and $1, respectively) (b) — 5 5 — 4 4 Net current period other comprehensive income (loss) 10 5 15 (6) 4 (2) Accumulated other comprehensive loss at Sept. 30 $ (75) $ (51) $ (126) $ (86) $ (57) $ (143) (a) Included in interest charges. (b) Included in the computation of net periodic pension and postretirement benefit costs.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Results from Operations by Reportable Segment	Xcel Energy’s segment information: Three Months Ended Sept. 30 (Millions of Dollars) 2021 2020 Regulated Electric Operating revenues — external $ 3,176 $ 2,941 Intersegment revenue — 1 Total revenues $ 3,176 $ 2,942 Net income 629 632 Regulated Natural Gas Operating revenues — external $ 268 $ 219 Intersegment revenue 1 — Total revenues 269 219 Net income 10 — All Other Total revenues $ 23 $ 22 Net loss (30) (29) Consolidated Total Total revenues $ 3,468 $ 3,183 Reconciling eliminations (1) (1) Total operating revenues $ 3,467 $ 3,182 Net income 609 603 Nine Months Ended Sept. 30 (Millions of Dollars) 2021 2020 Regulated Electric Operating revenues — external $ 8,643 $ 7,430 Intersegment revenue 1 1 Total revenues $ 8,644 $ 7,431 Net income 1,202 1,148 Regulated Natural Gas Operating revenues — external $ 1,364 $ 1,082 Intersegment revenue 2 1 Total revenues 1,366 1,083 Net income $ 161 $ 111 All Other Total revenues 69 67 Net loss $ (81) $ (74) Consolidated Total Total revenues $ 10,079 $ 8,581 Reconciling eliminations (3) (2) Total operating revenues $ 10,076 $ 8,579 Net income 1,282 1,185

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Details) - PSCo $ in Millions	Oct. 25, 2021USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Recovered Winter Storm Uri Deferred net natural gas, fuel, and purchased energy costs - electric utility	$ 263
Recovered Winter Storm Uri Deferred net natural gas, fuel, and purchased energy costs - natural gas utility	287
Carrying charges through a rider mechanism	0
Electric customers refunds	41
Foregone recovery of replacement power costs	14
Incremental bad debt expense	$ 11

Accounting Pronouncements (Deta

Accounting Pronouncements (Details) - USD ($) $ in Millions	Jan. 01, 2020	Sep. 30, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Credit Losses, Topic 326 (ASC Topic 326)		$ 2
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Credit Losses, Topic 326 (ASC Topic 326)	$ 2	$ 2

Selected Balance Sheet Data Sel

Selected Balance Sheet Data Selected Balance Sheet Data, Accounts Receivable (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Accounts receivable	$ 1,119	$ 995
Less allowance for bad debts	(97)	(79)
Accounts receivable, net	$ 1,022	$ 916

Selected Balance Sheet Data S_2

Selected Balance Sheet Data Selected Balance Sheet Data, Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Public Utilities, Inventory [Line Items]
Total inventories	$ 587	$ 535
Materials and supplies
Public Utilities, Inventory [Line Items]
Inventories	283	275
Fuel
Public Utilities, Inventory [Line Items]
Inventories	155	176
Natural gas
Public Utilities, Inventory [Line Items]
Inventories	$ 149	$ 84

Selected Balance Sheet Data, Pr

Selected Balance Sheet Data, Property, Plant and Equipment, Net (Details) - USD ($) $ in Millions		Sep. 30, 2021	Dec. 31, 2020
Public Utility, Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		$ 62,121	$ 59,296
Less accumulated depreciation and amortization		(17,711)	(16,657)
Property, plant and equipment, net		44,730	42,950
Electric plant
Public Utility, Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		49,293	47,104
Natural gas plant
Public Utility, Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		7,443	7,135
Common and other property
Public Utility, Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		2,519	2,503
Plant to be retired
Public Utility, Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	[1]	603	677
Construction work in progress
Public Utility, Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		2,263	1,877
Nuclear fuel
Public Utility, Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		3,065	2,970
Less accumulated depreciation and amortization		$ (2,745)	$ (2,659)
[1]	Includes regulator-approved retirements of Comanche Units 1 and 2 and jointly owned Craig Unit 1 for PSCo and Sherco Units 1 and 2 for NSP-Minnesota. Also includes SPS’ expected retirement of Tolk and conversion of Harrington to natural gas, and PSCo’s planned retirement of jointly owned Craig Unit 2

Short-Term Debt (Details)

Short-Term Debt (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Short-term Debt [Line Items]
Amount outstanding at period end	$ 1,747	$ 584
Commercial Paper
Short-term Debt [Line Items]
Borrowing limit	4,300	3,100
Amount outstanding at period end	1,747	584
Average amount outstanding	1,742	1,126
Maximum amount outstanding	$ 1,857	$ 2,080
Weighted average interest rate, computed on a daily basis	0.57%	1.45%
Weighted average interest rate at period end	0.56%	0.23%

Letters of Credit (Details)

Letters of Credit (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Line of Credit Facility [Line Items]
Amount outstanding at period end	$ 1,747	$ 584
Letter of Credit
Line of Credit Facility [Line Items]
Debt Instrument, Term	1 year
Amount outstanding at period end	$ 19	$ 20

Borrowings and Other Financin_3

Borrowings and Other Financing Instruments Revolving Credit Facilities (Details) - USD ($)		Oct. 25, 2021	Sep. 30, 2021	Dec. 31, 2020
Line of Credit Facility [Line Items]
Active gas litigation cases		$ 1
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Credit Facility	[1]		$ 3,100,000,000
Outstanding	[2]		566,000,000
Available			2,534,000,000
Direct advances on the credit facility outstanding			0	$ 0
Revolving Credit Facility [Member] | PSCo
Line of Credit Facility [Line Items]
Credit Facility	[1]		700,000,000
Outstanding	[2]		8,000,000
Available			692,000,000
Revolving Credit Facility [Member] | NSP-Minnesota
Line of Credit Facility [Line Items]
Credit Facility	[1]		500,000,000
Outstanding	[2]		9,000,000
Available			491,000,000
Revolving Credit Facility [Member] | SPS
Line of Credit Facility [Line Items]
Credit Facility	[1]		500,000,000
Outstanding	[2]		20,000,000
Available			480,000,000
Revolving Credit Facility [Member] | NSP-Wisconsin
Line of Credit Facility [Line Items]
Credit Facility	[1]		150,000,000
Outstanding	[2]		0
Available			150,000,000
Revolving Credit Facility [Member] | Xcel Energy Inc.
Line of Credit Facility [Line Items]
Credit Facility	[1]		1,250,000,000
Outstanding	[2]		529,000,000
Available			$ 721,000,000
[1]	Expires in June 2024.
[2]	Includes outstanding commercial paper and letters of credit.

Borrowings and Other Financin_4

Borrowings and Other Financing Instruments Term Loan (Details) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Feb. 17, 2021	Dec. 31, 2020
Short-term Debt [Line Items]
Amount outstanding at period end	$ 1,747,000,000			$ 584,000,000
Proceeds from issuance of common stock	13,000,000	$ 5,000,000
Expiration Period, Line of Credit			$ 364
Letter of Credit
Short-term Debt [Line Items]
Amount outstanding at period end	19,000,000			$ 20,000,000
364-Day Term Loan [Member] | Short-term Debt [Member] | Xcel Energy Inc.
Short-term Debt [Line Items]
Credit Facility	1,200,000,000		$ 1,200,000,000
Required debt to total capitalization ratio			6500.00%
Amount outstanding at period end	1,200,000,000
Available	$ 0

Borrowings and Other Financin_5

Borrowings and Other Financing Instruments Bilateral Credit Agreement (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Short-term Debt [Line Items]
Amount outstanding at period end	$ 1,747	$ 584
Letter of Credit
Short-term Debt [Line Items]
Debt Instrument, Term	1 year
Amount outstanding at period end	$ 19	$ 20
Bilateral Credit Agreement [Member] | NSP-Minnesota | Letter of Credit
Short-term Debt [Line Items]
Debt Instrument, Term	1 year
Credit Facility	$ 75
Amount outstanding at period end	41
Available	$ 34

Borrowings and Other Financin_6

Borrowings and Other Financing Instruments Long-Term Borrowings (Details) - Bonds [Member] - USD ($)	Jul. 19, 2021	Mar. 23, 2021	Mar. 02, 2021	Mar. 01, 2021
PSCo | Series Due June 15, 2031
Debt Instrument [Line Items]
Debt Instrument, Face Amount				$ 750,000,000
Debt Instrument, Interest Rate, Stated Percentage				1.875%
SPS | Series Due 2050
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 250,000,000
Debt Instrument, Interest Rate, Stated Percentage			3.15%
NSP-Wisconsin | Series Due May 1, 2051 [Domain]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 100,000,000
Debt Instrument, Interest Rate, Stated Percentage	2.82%
NSP-Minnesota | Series Due April 1, 2031
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 425,000,000
Debt Instrument, Interest Rate, Stated Percentage		2.25%
NSP-Minnesota | Series Due April 1, 2052
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 425,000,000
Debt Instrument, Interest Rate, Stated Percentage		3.20%

Borrowings and Other Financin_7

Borrowings and Other Financing Instruments Forward Equity Agreement (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Forward Contract Indexed to Issuer's Equity [Line Items]
Proceeds from issuance of common stock	$ 13	$ 5
Dividend Reinvestment Program
Forward Contract Indexed to Issuer's Equity [Line Items]
Proceeds from issuance of common stock	$ 38	$ 30

Revenues (Details)

Revenues (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 2,778	$ 2,534	$ 7,637	$ 6,942
Wholesale
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	288	227	1,265	553
Transmission
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	167	157	461	442
Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	62	45	157	141
Total revenue from contracts with customers
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	3,295	2,963	9,520	8,078
Alternative revenue and other
Disaggregation of Revenue [Line Items]
Alternative revenue and other	172	219	556	501
Residential | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,144	1,097	3,295	3,035
C&I | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,598	1,401	4,241	3,809
Other | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	36	36	101	98
Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	3,467	3,182	10,076	8,579
Regulated Electric | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,549	2,336	6,414	5,931
Regulated Electric | Wholesale
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	288	227	1,265	553
Regulated Electric | Transmission
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	167	157	461	442
Regulated Electric | Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	17	17	51	55
Regulated Electric | Total revenue from contracts with customers
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	3,021	2,737	8,191	6,981
Regulated Electric | Alternative revenue and other
Disaggregation of Revenue [Line Items]
Alternative revenue and other	155	204	452	449
Regulated Electric | Residential | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	999	962	2,488	2,356
Regulated Electric | C&I | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,515	1,340	3,830	3,481
Regulated Electric | Other | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	35	34	96	94
Regulated Electric | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	3,176	2,941	8,643	7,430
Regulated Natural Gas | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	209	180	1,163	955
Regulated Natural Gas | Wholesale
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0	0
Regulated Natural Gas | Transmission
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0	0
Regulated Natural Gas | Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	45	28	106	86
Regulated Natural Gas | Total revenue from contracts with customers
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	254	208	1,269	1,041
Regulated Natural Gas | Alternative revenue and other
Disaggregation of Revenue [Line Items]
Alternative revenue and other	14	11	95	41
Regulated Natural Gas | Residential | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	133	124	774	647
Regulated Natural Gas | C&I | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	76	56	389	308
Regulated Natural Gas | Other | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0	0
Regulated Natural Gas | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	268	219	1,364	1,082
All Other | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	20	18	60	56
All Other | Wholesale
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0	0
All Other | Transmission
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0	0
All Other | Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0	0
All Other | Total revenue from contracts with customers
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	20	18	60	56
All Other | Alternative revenue and other
Disaggregation of Revenue [Line Items]
Alternative revenue and other	3	4	9	11
All Other | Residential | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	12	11	33	32
All Other | C&I | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	7	5	22	20
All Other | Other | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1	2	5	4
All Other | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	$ 23	$ 22	$ 69	$ 67

Income Taxes (Details)

Income Taxes (Details)		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Federal statutory rate		21.00%	21.00%	21.00%	21.00%
State tax (net of federal tax effect)		5.00%	5.00%	5.00%	5.10%
Wind PTCs		(12.10%)	(8.00%)	(20.00%)	(13.20%)
Plant regulatory differences (a)	[1]	(5.80%)	(7.20%)	(6.00%)	(7.40%)
Other (net)		(1.50%)	(2.20%)	(1.30%)	(2.50%)
Effective income tax rate		6.60%	6.70%	(1.30%)	2.00%
Effective Income Tax Rate Reconciliation, Net Operating Loss Carryback, Percent		0.00%	(1.90%)	0.00%	(1.00%)
[1]	Regulatory differences for income tax primarily relate to the credit of excess deferred taxes to customers through the average rate assumption method. Income tax benefits associated with the credit of excess deferred credits are offset by corresponding revenue reductions.

Income Taxes State Audits (Deta

Income Taxes State Audits (Details) - USD ($)	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Income Tax Examination [Line Items]
Potential Tax Adjustments	$ 0
Unrecognized Tax Benefits, Income Tax Penalties Accrued	0	$ 0
WISCONSIN
Income Tax Examination [Line Items]
Potential Tax Adjustments	0
NSP-Minnesota
Income Tax Examination [Line Items]
Potential Tax Adjustments	$ 0

Income Taxes Unrecognized Benef

Income Taxes Unrecognized Benefits (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Unrecognized tax benefit — Permanent tax positions	$ 46,000,000	$ 41,000,000
Unrecognized tax benefit — Temporary tax positions	11,000,000	11,000,000
Total unrecognized tax benefit	57,000,000	52,000,000
NOL and tax credit carryforwards	35,000,000	31,000,000
Decrease in Unrecognized Tax Benefits is Reasonably Possible	27,000,000
Potential Tax Adjustments	0
Unrecognized Tax Benefits, Income Tax Penalties Accrued	0	0
Unrecognized Tax Benefits, Interest on Income Taxes Accrued	(3,000,000)	(3,000,000)	$ 0
Unrecognized Tax Benefits, Interest on Income Taxes Expense	$ 0	$ (3,000,000)

Common Stock Equivalents (Detai

Common Stock Equivalents (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Weighted Average Number of Shares Outstanding, Basic	539,000	526,000	539,000	526,000
Diluted (in shares)	539,000	528,000	539,000	527,000
Dilutive Effect of Contingently Issuable Shares	300	1,600	300	1,000

Non-Derivative Fair Value Measu

Non-Derivative Fair Value Measurements (Details) - USD ($) $ in Millions	6 Months Ended	9 Months Ended		12 Months Ended
	Jun. 30, 2021	Sep. 30, 2021		Dec. 31, 2020
Nuclear decommissinoning fund [Abstract]
Equity investments in unconsolidated subsidiaries		$ 204		$ 165
Miscellaneous investments		158		154
Available-for-sale Securities, Gross Unrealized Gain	$ 981	1,200
Available-for-sale Securities, Gross Unrealized Loss		5		5
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract]
Due in one year or less		2
Due in 1 to 5 years		153
Due in 5 to 10 years		204
Due after 10 years		299
Total		658
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Cost
Nuclear decommissinoning fund [Abstract]
Decommissioning Fund Investments		1,886	[1]	1,801	[2]
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Cost | Cash equivalents
Nuclear decommissinoning fund [Abstract]
Cash equivalents		38	[1]	40	[2]
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Cost | Commingled funds
Nuclear decommissinoning fund [Abstract]
Commingled funds		821		787
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Cost | Debt securities
Nuclear decommissinoning fund [Abstract]
Debt securities		620	[1]	528	[2]
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Cost | Equity securities
Nuclear decommissinoning fund [Abstract]
Equity Securities, FV-NI		407	[1]	446	[2]
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Fair Value
Nuclear decommissinoning fund [Abstract]
Alternative investment		1,208	[1]	1,041	[2]
Decommissioning Fund Investments		3,084	[1]	2,777	[2]
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Fair Value | Cash equivalents
Nuclear decommissinoning fund [Abstract]
Cash equivalents		38	[1]	40	[2]
Alternative investment		0	[1]	0	[2]
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Fair Value | Commingled funds
Nuclear decommissinoning fund [Abstract]
Alternative investment		1,208	[1]	1,041	[2]
Commingled funds		1,208		1,041
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Fair Value | Debt securities
Nuclear decommissinoning fund [Abstract]
Debt securities		658	[1]	585	[2]
Alternative investment		0	[1]	0	[2]
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Fair Value | Equity securities
Nuclear decommissinoning fund [Abstract]
Alternative investment		0	[1]	0	[2]
Equity Securities, FV-NI		1,180	[1]	1,111	[2]
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Fair Value | Level 1
Nuclear decommissinoning fund [Abstract]
Decommissioning Fund Investments		1,216	[1]	1,149	[2]
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Fair Value | Level 1 | Cash equivalents
Nuclear decommissinoning fund [Abstract]
Cash equivalents		38	[1]	40	[2]
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Fair Value | Level 1 | Commingled funds
Nuclear decommissinoning fund [Abstract]
Commingled funds		0		0
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Fair Value | Level 1 | Debt securities
Nuclear decommissinoning fund [Abstract]
Debt securities		0	[1]	0	[2]
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Fair Value | Level 1 | Equity securities
Nuclear decommissinoning fund [Abstract]
Equity Securities, FV-NI		1,178	[1]	1,109	[2]
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Fair Value | Level 2
Nuclear decommissinoning fund [Abstract]
Decommissioning Fund Investments		645	[1]	574	[2]
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Fair Value | Level 2 | Cash equivalents
Nuclear decommissinoning fund [Abstract]
Cash equivalents		0	[1]	0	[2]
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Fair Value | Level 2 | Commingled funds
Nuclear decommissinoning fund [Abstract]
Commingled funds		0		0
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Fair Value | Level 2 | Debt securities
Nuclear decommissinoning fund [Abstract]
Debt securities		643	[1]	572	[2]
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Fair Value | Level 2 | Equity securities
Nuclear decommissinoning fund [Abstract]
Equity Securities, FV-NI		2	[1]	2	[2]
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Fair Value | Level 3
Nuclear decommissinoning fund [Abstract]
Decommissioning Fund Investments		15	[1]	13	[2]
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Fair Value | Level 3 | Cash equivalents
Nuclear decommissinoning fund [Abstract]
Cash equivalents		0	[1]	0	[2]
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Fair Value | Level 3 | Commingled funds
Nuclear decommissinoning fund [Abstract]
Commingled funds		0		0
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Fair Value | Level 3 | Debt securities
Nuclear decommissinoning fund [Abstract]
Debt securities		15	[1]	13	[2]
Nuclear Decommissioning Fund | Fair Value Measured on a Recurring Basis | Fair Value | Level 3 | Equity securities
Nuclear decommissinoning fund [Abstract]
Equity Securities, FV-NI		$ 0	[1]	$ 0	[2]
[1]	Reported in nuclear decommissioning fund and other investments on the consolidated balance sheets, which also includes $204 million of equity method investments and $158 million of rabbi trust assets and miscellaneous investments.
[2]	Reported in nuclear decommissioning fund and other investments on the consolidated balance sheets, which also includes $165 million of equity method investments and $154 million of rabbi trust assets and other miscellaneous investments.

Rabbi Trust (Details)

Rabbi Trust (Details) - Rabbi Trust [Member] - Fair Value, Measured on a Recurring Basis - USD ($) $ in Millions		Sep. 30, 2021	Dec. 31, 2020
Cost
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Rabbi Trusts Assets at Fair Value	[1]	$ 88	$ 92
Cost | Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	[1]	17	32
Cost | Mutual Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds	[1]	71	60
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Rabbi Trusts Assets at Fair Value	[1]	101	102
Fair Value | Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	[1]	17	32
Fair Value | Mutual Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds	[1]	84	70
Fair Value | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Rabbi Trusts Assets at Fair Value	[1]	101	102
Fair Value | Level 1 | Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	[1]	17	32
Fair Value | Level 1 | Mutual Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds	[1]	84	70
Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Rabbi Trusts Assets at Fair Value	[1]	0	0
Fair Value | Level 2 | Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	[1]	0	0
Fair Value | Level 2 | Mutual Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds	[1]	0	0
Fair Value | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Rabbi Trusts Assets at Fair Value	[1]	0	0
Fair Value | Level 3 | Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	[1]	0	0
Fair Value | Level 3 | Mutual Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds	[1]	$ 0	$ 0
[1]	Reported in nuclear decommissioning fund and other investments on the consolidated balance sheets.

Interest Rate Derivatives (Deta

Interest Rate Derivatives (Details) - USD ($) $ in Millions		Sep. 30, 2021	Dec. 31, 2020
Other Current Assets
Derivative [Line Items]
Derivative Asset, Net		$ 228	$ 49
Other Current Assets | Fair Value, Measured on a Recurring Basis
Derivative [Line Items]
Derivative Asset, Gross		479	99
Netting	[1]	254	53
Derivative Asset, Net		225	46
Other Current Assets | Level 1 | Fair Value, Measured on a Recurring Basis
Derivative [Line Items]
Derivative Asset, Gross		50	2
Other Current Assets | Level 2 | Fair Value, Measured on a Recurring Basis
Derivative [Line Items]
Derivative Asset, Gross		323	76
Other Current Assets | Level 3 | Fair Value, Measured on a Recurring Basis
Derivative [Line Items]
Derivative Asset, Gross		106	21
Interest rate derivatives
Derivative [Line Items]
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net		6
Interest rate derivatives | Other Current Assets | Fair Value, Measured on a Recurring Basis | Designated as Hedging Instrument
Derivative [Line Items]
Derivative Asset, Gross		4	0
Netting	[1]	0	0
Derivative Asset, Net		4	0
Interest rate derivatives | Other Current Assets | Level 1 | Fair Value, Measured on a Recurring Basis | Designated as Hedging Instrument
Derivative [Line Items]
Derivative Asset, Gross		0	0
Interest rate derivatives | Other Current Assets | Level 2 | Fair Value, Measured on a Recurring Basis | Designated as Hedging Instrument
Derivative [Line Items]
Derivative Asset, Gross		4	0
Interest rate derivatives | Other Current Assets | Level 3 | Fair Value, Measured on a Recurring Basis | Designated as Hedging Instrument
Derivative [Line Items]
Derivative Asset, Gross		$ 0	$ 0
[1]	Xcel Energy 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 Sept. 30, 2021 and Dec. 31, 2020. At both Sept. 30, 2021 and Dec. 31, 2020, derivative assets and liabilities include $15 million of obligations to return cash collateral. At Sept. 30, 2021 and Dec. 31, 2020, derivative assets and liabilities include rights to reclaim cash collateral of $42 million and $6 million, respectively. Counterparty netting amounts presented exclude settlement receivables and payables and non-derivative amounts that may be subject to the same master netting agreements.

Commodity Derivatives (Details)

Commodity Derivatives (Details) MWh in Millions, MMBTU in Millions, $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2021USD ($)MWhMMBTU	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)MWhMMBTU	Sep. 30, 2020USD ($)	Dec. 31, 2020MWhMMBTU
Other Derivative Instruments
Gross Notional Amounts of Commodity Forwards, Options and FTRs [Abstract]
Pre-tax fair value gains (losses) recognized during the period in regulatory (assets) and liabilities		$ 62	$ (1)	$ 75	$ (4)
Cash Flow Hedge Commodity [Member]
Derivative [Line Items]
Commodity contracts designated as cash flow hedges		$ 0		$ 0
Electric Commodity [Member]
Gross Notional Amounts of Commodity Forwards, Options and FTRs [Abstract]
Derivative, Nonmonetary Notional Amount | MWh	[1],[2]	101		101		87
Natural Gas Commodity
Gross Notional Amounts of Commodity Forwards, Options and FTRs [Abstract]
Derivative, Nonmonetary Notional Amount | MMBTU	[1],[2]	184		184		175
Natural Gas Commodity | Other Derivative Instruments
Gross Notional Amounts of Commodity Forwards, Options and FTRs [Abstract]
Pre-tax fair value gains (losses) recognized during the period in regulatory (assets) and liabilities		$ 57	2	$ 57	(1)
Natural Gas Commodity for Electric Generation | Other Derivative Instruments
Gross Notional Amounts of Commodity Forwards, Options and FTRs [Abstract]
Pre-tax fair value gains (losses) recognized during the period in regulatory (assets) and liabilities		$ 0	$ 0	$ 0	$ 0
[1]	Not reflective of net positions in the underlying commodities.
[2]	Notional amounts for options included on a gross basis but weighted for the probability of exercise.

Consideration of Credit Risk an

Consideration of Credit Risk and Concentrations (Details)		3 Months Ended		9 Months Ended
		Sep. 30, 2021USD ($)Counterparty	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)Counterparty	Sep. 30, 2020USD ($)
Impact of Derivative Activity [Abstract]
Fair value hedges		$ 0	$ 0	$ 0	$ 0
Other Derivative Instruments
Impact of Derivative Activity [Abstract]
Pre-tax fair value gains (losses) recognized during the period in accumulated other comprehensive loss		0	0	0	0
Pre-tax fair value gains (losses) recognized during the period in regulatory (assets) and liabilities		62,000,000	(1,000,000)	75,000,000	(4,000,000)
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net		0	0	0	0
Pre-tax (gains) losses reclassified into income during the period from regulatory assets and (liabilities)		3,000,000	(3,000,000)	(18,000,000)	(1,000,000)
Pre-tax gains (losses) recognized during the period in income		1,000,000	2,000,000	39,000,000	(7,000,000)
Other Derivative Instruments | Electric Commodity
Impact of Derivative Activity [Abstract]
Pre-tax fair value gains (losses) recognized during the period in accumulated other comprehensive loss		0	0	0	0
Pre-tax fair value gains (losses) recognized during the period in regulatory (assets) and liabilities		5,000,000	(3,000,000)	18,000,000	(3,000,000)
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net		0	0	0	0
Pre-tax (gains) losses reclassified into income during the period from regulatory assets and (liabilities)	[1]	3,000,000	(3,000,000)	(26,000,000)	(6,000,000)
Pre-tax gains (losses) recognized during the period in income		0	0	0	0
Other Derivative Instruments | Natural Gas Commodity
Impact of Derivative Activity [Abstract]
Pre-tax fair value gains (losses) recognized during the period in accumulated other comprehensive loss		0	0	0	0
Pre-tax fair value gains (losses) recognized during the period in regulatory (assets) and liabilities		57,000,000	2,000,000	57,000,000	(1,000,000)
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net				0	0
Pre-tax (gains) losses reclassified into income during the period from regulatory assets and (liabilities)	[2]			8,000,000	5,000,000
Pre-tax gains (losses) recognized during the period in income	[2]			(10,000,000)	(6,000,000)
Other Derivative Instruments | Commodity Trading
Impact of Derivative Activity [Abstract]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net		0	0	0	0
Pre-tax (gains) losses reclassified into income during the period from regulatory assets and (liabilities)		0	0	0	0
Pre-tax gains (losses) recognized during the period in income	[3]	1,000,000	2,000,000	49,000,000	(1,000,000)
Other Derivative Instruments | Natural Gas Commodity for Electric Generation
Impact of Derivative Activity [Abstract]
Pre-tax fair value gains (losses) recognized during the period in regulatory (assets) and liabilities		0	0	0	0
Designated as Hedging Instrument | Cash Flow Hedges
Impact of Derivative Activity [Abstract]
Pre-tax fair value gains (losses) recognized during the period in accumulated other comprehensive loss		4,000,000		5,000,000	(13,000,000)
Pre-tax fair value gains (losses) recognized during the period in regulatory (assets) and liabilities		0		0	0
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net		2,000,000	1,000,000	7,000,000	5,000,000
Pre-tax (gains) losses reclassified into income during the period from regulatory assets and (liabilities)		0	0	0	0
Pre-tax gains (losses) recognized during the period in income		0	0	0	0
Designated as Hedging Instrument | Cash Flow Hedges | Interest Rate
Impact of Derivative Activity [Abstract]
Pre-tax fair value gains (losses) recognized during the period in accumulated other comprehensive loss		4,000,000		5,000,000	(13,000,000)
Pre-tax fair value gains (losses) recognized during the period in regulatory (assets) and liabilities		0		0	0
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	[4]	2,000,000	1,000,000	7,000,000	5,000,000
Pre-tax (gains) losses reclassified into income during the period from regulatory assets and (liabilities)		0	0	0	0
Pre-tax gains (losses) recognized during the period in income		$ 0	$ 0	$ 0	$ 0
Credit Concentration Risk
Derivative [Line Items]
Number of most significant counterparties for wholesale, trading and non-trading commodity activities with credit exposure | Counterparty		10		10
Credit Concentration Risk | Municipal or Cooperative Entities or Other Utilities [Member]
Derivative [Line Items]
Number of most significant counterparties for wholesale, trading and non-trading commodity activities with credit exposure | Counterparty		5		5
Credit Concentration Risk | External Credit Rating, Investment Grade [Member]
Derivative [Line Items]
Number of most significant counterparties for wholesale, trading and non-trading commodity activities with credit exposure | Counterparty		6		6
Wholesale, trading and non-trading commodity credit exposure for the most significant counterparties		$ 121,000,000		$ 121,000,000
Percentage of wholesale, trading and non-trading commodity credit exposure for the most significant counterparties (in hundredths)		40.00%		40.00%
Credit Concentration Risk | Internal Investment Grade [Member]
Derivative [Line Items]
Number of most significant counterparties for wholesale, trading and non-trading commodity activities with credit exposure | Counterparty		2		2
Wholesale, trading and non-trading commodity credit exposure for the most significant counterparties		$ 29,000,000		$ 29,000,000
Percentage of wholesale, trading and non-trading commodity credit exposure for the most significant counterparties (in hundredths)		10.00%		10.00%
Credit Concentration Risk | External Credit Rating, Non Investment Grade [Member]
Derivative [Line Items]
Number of most significant counterparties for wholesale, trading and non-trading commodity activities with credit exposure | Counterparty		2		2
Wholesale, trading and non-trading commodity credit exposure for the most significant counterparties		$ 44,000,000		$ 44,000,000
Percentage of wholesale, trading and non-trading commodity credit exposure for the most significant counterparties (in hundredths)		14.00%		14.00%
[1]	Recorded to electric fuel and purchased power. These derivative settlement gains and losses are shared with electric customers through fuel and purchased energy cost-recovery mechanisms, and reclassified out of income as regulatory assets or liabilities, as appropriate.
[2]	Amounts for both the three and nine months ended Sept. 30, 2021 and 2020 included no settlement gains or losses on derivatives entered to mitigate natural gas price risk for electric generation recorded to electric fuel and purchased power, subject to cost-recovery mechanisms and reclassified to a regulatory asset, as appropriate. Remaining settlement losses for both the three and nine months ended Sept. 30, 2021 and 2020 relate to natural gas operations and were recorded to cost of natural gas sold and transported. These gains and losses are subject to cost-recovery mechanisms and reclassified out of income to a regulatory asset or liability, as appropriate.
[3]	Recorded to electric operating revenues. Portions of these gains and losses are subject to sharing with electric customers through margin-sharing mechanisms and deducted from gross revenue, as appropriate.
[4]	Recorded to interest charges.

Credit Related Contingent Featu

Credit Related Contingent Features (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Derivative, Gross Liability Position, Aggregate Fair Value	$ 2	$ 4
Derivative, Gross Liability with Cross Default Position, Aggregate Fair Value	62	60
Collateral Already Posted Adequate Assurance Clauses Aggregate Fair Value	$ 0	$ 0

Recurring Fair Value Measuremen

Recurring Fair Value Measurements (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Return Cash Collateral		$ 15		$ 15		$ 15
Reclaim Cash Collateral		42		42		6
Commodity Trading
Changes in Level 3 Commodity Derivatives [Roll Forward]
Balance at beginning of period		71	$ 34	(49)	$ 4
Purchases		2	0	65	49
Settlements		(53)	(17)	(101)	(59)
Gains (losses) recognized in earnings	[1]	12	(25)	59	(11)
Net gains recognized as regulatory assets and liabilities		27	2	85	11
Balance at end of period		59	(6)	59	(6)
Transfers Level 3, Net		0	$ 0	0	$ 0
Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative Asset, Net		228		228		49
Other Noncurrent Assets
Derivatives, Fair Value [Line Items]
Derivative Asset, Net		72		72		30
Other Current Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability, Net		76		76		53
Other Noncurrent Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability, Net		99		99		131
Fair Value Measured on a Recurring Basis | Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		479		479		99
Netting	[2]	(254)		(254)		(53)
Derivative Asset, Net		225		225		46
Fair Value Measured on a Recurring Basis | Other Current Assets | Level 1
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		50		50		2
Fair Value Measured on a Recurring Basis | Other Current Assets | Level 2
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		323		323		76
Fair Value Measured on a Recurring Basis | Other Current Assets | Level 3
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		106		106		21
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Commodity Trading
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		313		313		70
Netting	[2]	(253)		(253)		(52)
Derivative Asset, Net		60		60		18
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Electric Commodity
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		83		83		20
Netting	[2]	(1)		(1)		(1)
Derivative Asset, Net		82		82		19
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Natural Gas Commodity
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		79		79		9
Netting	[2]	0		0		0
Derivative Asset, Net		79		79		9
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		50		50		2
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		240		240		67
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		79		79		9
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		23		23		1
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		83		83		20
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 Current Assets | Designated as Hedging Instrument | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		4		4		0
Netting	[2]	0		0		0
Derivative Asset, Net		4		4		0
Fair Value Measured on a Recurring Basis | Other Current Assets | Designated as Hedging Instrument | Level 1 | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		0		0		0
Fair Value Measured on a Recurring Basis | Other Current Assets | Designated as Hedging Instrument | Level 2 | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		4		4		0
Fair Value Measured on a Recurring Basis | Other Current Assets | Designated as Hedging Instrument | Level 3 | Interest Rate Swap
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		194		194		82
Netting	[2]	(129)		(129)		(62)
Derivative Asset, Net		65		65		20
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Level 1
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		23		23		8
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Level 2
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		72		72		66
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Level 3
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		99		99		8
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Other Derivative Instruments | Commodity Trading
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		194		194		82
Netting	[2]	(129)		(129)		(62)
Derivative Asset, Net		65		65		20
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		23		23		8
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		72		72		66
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		99		99		8
Fair Value Measured on a Recurring Basis | Other Current Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		313		313		95
Netting	[2]	(254)		(254)		(59)
Derivative Liability, Net		59		59		36
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Level 1
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		48		48		4
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Level 2
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		239		239		73
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Level 3
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		26		26		18
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Commodity Trading
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		312		312		85
Netting	[2]	(253)		(253)		(58)
Derivative Liability, Net		59		59		27
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Electric Commodity
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		1		1		1
Netting	[2]	(1)		(1)		(1)
Derivative Liability, Net		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		0		0		9
Netting	[2]	0		0		0
Derivative Liability, Net		0		0		9
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		48		48		4
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		239		239		64
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		0		0		9
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		25		25		17
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		1		1		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		211		211		121
Netting	[2]	(156)		(156)		(47)
Derivative Liability, Net		55		55		74
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Level 1
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		22		22		3
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Level 2
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		69		69		58
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Level 3
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		120		120		60
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Other Derivative Instruments | Commodity Trading
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		211		211		121
Netting	[2]	(156)		(156)		(47)
Derivative Liability, Net		55		55		74
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		22		22		3
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		69		69		58
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		120		120		60
Fair Value, Measurements, Nonrecurring | Other Current Assets | PPAs
Derivatives, Fair Value [Line Items]
Derivative Asset, Net	[3]	3		3		3
Fair Value, Measurements, Nonrecurring | Other Noncurrent Assets | PPAs
Derivatives, Fair Value [Line Items]
Derivative Asset, Net	[3]	7		7		10
Fair Value, Measurements, Nonrecurring | Other Current Liabilities | PPAs
Derivatives, Fair Value [Line Items]
Derivative Liability, Net	[3]	17		17		17
Fair Value, Measurements, Nonrecurring | Other Noncurrent Liabilities | PPAs
Derivatives, Fair Value [Line Items]
Derivative Liability, Net	[3]	$ 44		$ 44		$ 57
[1]	Presented amounts relate to instruments held at the end of the period. The consolidated income statement also includes gains and losses on Level 1 and 2 instruments, and Level 3 instruments settled during the period
[2]	Xcel Energy 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 Sept. 30, 2021 and Dec. 31, 2020. At both Sept. 30, 2021 and Dec. 31, 2020, derivative assets and liabilities include $15 million of obligations to return cash collateral. At Sept. 30, 2021 and Dec. 31, 2020, derivative assets and liabilities include rights to reclaim cash collateral of $42 million and $6 million, respectively. Counterparty netting amounts presented exclude settlement receivables and payables and non-derivative amounts that may be subject to the same master netting agreements.
[3]	During 2006, Xcel Energy qualified these contracts under the normal purchase exception. Based on this qualification, contracts are no longer adjusted to fair value and the previous carrying value of these contracts is being amortized over the remaining contract lives along with the offsetting regulatory assets and liabilities.

Fair Value of Long-Term Debt (D

Fair Value of Long-Term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Carrying Amount	$ 21,600	$ 20,066
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	$ 24,657	$ 24,412

Benefit Plans and Other Postr_3

Benefit Plans and Other Postretirement Benefits (Details) $ in Millions		1 Months Ended	3 Months Ended		9 Months Ended
		Jan. 31, 2021USD ($)Plan	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)
Pension Plan [Member]
Components of Net Periodic Benefit Cost [Abstract]
Service cost			$ 26	$ 24	$ 78	$ 72
Interest Cost	[1]		26	31	78	94
Expected Return on Plan Assets	[1]		(52)	(52)	(155)	(156)
Amortization of Prior Service Credit	[1]		0	(1)	(1)	(3)
Amortization of Net Loss	[1]		27	25	81	74
Net periodic benefit cost (credit)			66	27	120	81
Effects of regulation			(31)	4	(32)	7
Net benefit cost (credit) recognized for financial reporting			35	31	88	88
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement	[2]		39	0	39	0
Pension Plan [Member] | Parent Company
Components of Net Periodic Benefit Cost [Abstract]
Contributions to Xcel Energy's pension plans		$ 125
Number of pension plans to which contributions were made | Plan		4
Other Postretirement Benefits Plan [Member]
Components of Net Periodic Benefit Cost [Abstract]
Service cost			0	0	1	1
Interest Cost	[1]		4	5	11	14
Expected Return on Plan Assets	[1]		(4)	(5)	(13)	(15)
Amortization of Prior Service Credit	[1]		(2)	(2)	(6)	(6)
Amortization of Net Loss	[1]		1	1	4	3
Net periodic benefit cost (credit)			(1)	(1)	(3)	(3)
Effects of regulation			1	1	2	2
Net benefit cost (credit) recognized for financial reporting			0	0	(1)	(1)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement	[2]		$ 0	$ 0	$ 0	$ 0
[1]	The components of net periodic cost other than the service cost component are included in the line item “Other (expense) income, net” in the consolidated statements of income or capitalized on the consolidated balance sheets as a regulatory asset
[2]	A settlement charge is required when the amount of all lump-sum distributions during the year is greater than the sum of the service and interest cost components of the annual net periodic pension cost. In the third quarter of 2021 as a result of lump-sum distributions during the 2021 plan year, Xcel Energy recorded a total pension settlement charge of $39 million, the majority of which was not recognized in earnings due to the effects of regulation. A total of $4 million of that amount was recorded in other expense in the third quarter 2021

Gas Trading Litigation (Details

Gas Trading Litigation (Details) number in Millions	Oct. 25, 2021USD ($)	Sep. 30, 2021
Loss Contingencies [Line Items]
Active gas litigation cases	$ 1
Breckenridge Litigation
Loss Contingencies [Line Items]
Loss Contingency, Pending Claims, Number		3

Commitments and Contingencies N

Commitments and Contingencies NSP-Minnesota-Sherco (Details) $ in Millions	1 Months Ended
	Jan. 31, 2021USD ($)
NSP-Minnesota
Rate Matters [Abstract]
Customer refund of previously recovered purchased power costs	$ 17

Commitments and Contingencies (

Commitments and Contingencies (Details) - Westmoreland - NSP-Minnesota $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Commitments and Contingencies Disclosure [Abstract]
Gain (Loss) Related to Litigation Settlement	$ 36
Public Utilities, General Disclosures [Line Items]
Gain (Loss) Related to Litigation Settlement	$ 36

Commitments and Contingencies M

Commitments and Contingencies MISO ROE Complaints (Details) - NSP Minnesota and NSP Wisconsin - FERC Proceeding, MISO ROE Complaint [Member] - Federal Energy Regulatory Commission (FERC) [Member]	1 Months Ended		3 Months Ended	7 Months Ended	16 Months Ended	17 Months Ended	23 Months Ended
	Feb. 28, 2015	Nov. 30, 2013	Jun. 30, 2017	Dec. 31, 2020	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2021
Public Utilities, General Disclosures [Line Items]
Public Utilities, Base Return On Equity Charged To Customers Through Transmission Formula Rates	1238.00%	1238.00%
Public Utilities, ROE Applicable To Transmission Formula Rates In The MISO Region, Recommended By Third Parties	867.00%	915.00%
Public Utilities, ROE Applicable To Transmission Formula Rates In The MISO Region, Approved			1032.00%
Public Utilities, ROE developed with new approach							988.00%
Public Utilities, ROE New Base, Complaint Number 1						1002.00%
Basis Point Reduction					1000.00%
Basis Point Reduction - First Complaint				100000000.00%
Basis Point Reduction - Second Complaint				100000000.00%
Basis Point Reduction - Third Complaint				200000000.00%

Commitments and Contingencies F

Commitments and Contingencies FERC NOPR on ROE Incentive Adders (Details) - Federal Energy Regulatory Commission (FERC) [Member] - NSP Minnesota, NSP Wisconsin and SPS	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
ROE incentive adders related to FERC NOPR	0.50%
Public Utilities, General Disclosures [Line Items]
ROE incentive adders related to FERC NOPR	0.50%

SPP OATT Upgrade Costs (Details

SPP OATT Upgrade Costs (Details) $ in Millions	6 Months Ended
	Jun. 30, 2018USD ($)
SPS | Southwest Power Pool (SPP) | SPP Open Access Transmission Tariff Upgrade Costs
Public Utilities, General Disclosures [Line Items]
Public Utilities, Billed Charges For Transmission Service Upgrades	$ 13

Gas Cost Adjustment NOPR (Detai

Gas Cost Adjustment NOPR (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Sep. 30, 2021
Public Utilities, General Disclosures [Line Items]
recoverability of costs in excess of forecasted amount - low end		9000.00%
recoverability of costs in excess of forecasted amount - high end		9500.00%
SPS | Southwest Power Pool (SPP) | SPP Open Access Transmission Tariff Upgrade Costs
Public Utilities, General Disclosures [Line Items]
Public Utilities, Billed Charges For Transmission Service Upgrades	$ 13

Contract Termination (Details)

Contract Termination (Details) - SPS $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)MW
Loss Contingencies [Line Items]
Megawatts, Lubbock Power and Light contract | MW	170
Lubbock Power and Light Contract Length	25 years
Settlement Agreement Payment, Lubbock Power and Light Contract | $	$ 78

MGP, Landfill and Disposal Site

MGP, Landfill and Disposal Sites (Details)	Sep. 30, 2021
Other MGP, Landfill, or Disposal Sites [Domain]
Manufactured Gas Plant (MGP) Site [Abstract]
Number of identified MGP, landfill, or disposal sites under current investigation and/or remediation	14

Commitments and Contingencies E

Commitments and Contingencies Environmental Requirements - Water and Waste (Details) - Federal Coal Ash Regulation $ in Millions	3 Months Ended
	Sep. 30, 2021USD ($)
Site Contingency [Line Items]
Number of sites where regulated ash units will still be in operation at a specified date	8
NSP-Minnesota
Site Contingency [Line Items]
Number of sites where statistically significant increases over established groundwater standards exist	0
Cost of construction of a new impoundment	$ 9
Estimated cost of closure of an impoundment	$ 4
Time period of existing ash pond closure completion in accordance with the CCR rule	5 years
PSCo
Site Contingency [Line Items]
Number of sites where statistically significant increases over established groundwater standards exist	4
Number of sites where corrective action options are being evaluated for locations with statistically significant increases above background concentrations	2
Number of sites where monitoring results indicate potential offsite impacts to groundwater	1
Estimated cost to remediate groundwater sampling results	$ 35
Estimated cost of construction of an alternative collection and treatment system	25
Estimated cost to close Comanche station bottom ash pond	$ 3
NSP-Minnesota and PSCo
Site Contingency [Line Items]
Number of impoundments where closure plans will be expedited	2

Leases (Details)

Leases (Details) - USD ($) $ in Millions		3 Months Ended				9 Months Ended
		Sep. 30, 2021		Sep. 30, 2020		Sep. 30, 2021		Sep. 30, 2020		Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Finance Lease, Right-of-Use Asset, Amortization		$ 2		$ 2		$ 6		$ 5
Finance Lease, Interest Expense		4		4		12		13
Finance Lease, Cost		6		6		18		18
Operating Lease, Cost		58	[1]	61	[1]	189	[2]	167	[2]
Lessee, Operating Lease, Liability, to be Paid		1,661				1,661
Finance Lease, Liability, Payment, Due	[3]	246				246
Lessee, Operating Lease, Liability, Undiscounted Excess Amount		(256)				(256)
Finance Lease, Liability, Undiscounted Excess Amount	[3]	(173)				(173)
Operating Lease, Liability		1,405				1,405
Finance Lease, Liability	[3]	73				73
Operating Lease, Liability, Current		(218)				(218)				$ (214)
Finance Lease, Liability, Current	[3]	(3)				(3)
Operating lease liabilities		1,187				1,187				$ 1,344
Finance Lease, Liability, Noncurrent	[3]	70				70
Short-term Lease, Cost		1		2		4		4
PPAs
Lessee, Lease, Description [Line Items]
Operating Lease, Cost		56		56		170		145
Lessee, Operating Lease, Liability, to be Paid		1,470				1,470
Lessee, Operating Lease, Liability, Undiscounted Excess Amount		(221)				(221)
Operating Lease, Liability		1,249				1,249
Property, Plant and Equipment, Other Types
Lessee, Lease, Description [Line Items]
Operating Lease, Cost		2	[4]	$ 5	[4]	19	[5]	$ 22	[5]
Lessee, Operating Lease, Liability, to be Paid		191				191
Lessee, Operating Lease, Liability, Undiscounted Excess Amount		(35)				(35)
Operating Lease, Liability		$ 156				$ 156
[1]	PPA capacity payments are included in electric fuel and purchased power on the consolidated statements of income. Expense for other operating leases is included in O&M expense and electric fuel and purchased power.
[2]	PPA capacity payments are included in electric fuel and purchased power on the consolidated statements of income. Expense for other operating leases is included in O&M expense and electric fuel and purchased power.
[3]	Excludes certain amounts related to Xcel Energy’s 50% ownership interest in WYCO.
[4]	Includes short-term lease expense o f $1 million and $2 million for 2021 and 2020, respectively.
[5]	Includes short-term lease expense of $4 million for 2021 and 2020, respectively.

Variable Interest Entities (Det

Variable Interest Entities (Details) - MW	Sep. 30, 2021	Dec. 31, 2020
Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Variable Interest Entity [Line Items]
Generating capacity under long term purchased power agreements (in MW)	4,062	4,062

Commitments and Contingencies G

Commitments and Contingencies Guarantees and Bond Indemnifications (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Commitments and Contingencies, Guarantees and Indemnifications [Abstract]
Assets Held As Collateral For Guarantor Obligations	$ 0	$ 0
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 60,000,000	$ 62,000,000

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss)		$ 15,171		$ 15,171			$ 14,575
Interest Rate Derivatives, Tax		43	$ 43	(17)	$ 24
Gains and Losses on Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss)		(75)	(86)	(75)	(86)	$ (80)	(85)	$ (87)	$ (80)
Losses reclassified from net accumulated other comprehensive loss	[1]	0	0	0	0
Net current period other comprehensive income (loss)		5	1	10	(6)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax		3	0	4	(10)
Gains and Losses on Cash Flow Hedges | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Other Comprehensive Income (Loss) before Reclassifications, Tax			0	1	(3)
Interest Rate Derivatives, Tax		0	0	1	1
Reclassification from AOCI, Current Period, Tax			0	0	0
Gains and Losses on Cash Flow Hedges | Interest Rate Swap
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Losses reclassified from net accumulated other comprehensive loss	[2]	2	1	6	4
Defined Benefit Pension and Postretirement Items
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss)		(51)	(57)	(51)	(57)	(55)	(56)	(58)	(61)
Losses reclassified from net accumulated other comprehensive loss	[1]	4	1	5	4
Net current period other comprehensive income (loss)		4	1	5	4
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax		0	0	0	0
Defined Benefit Pension and Postretirement Items | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Other Comprehensive Income (Loss) before Reclassifications, Tax			0	0	0
Interest Rate Derivatives, Tax		0	0	0	0
Reclassification from AOCI, Current Period, Tax		1	0	2	1
Defined Benefit Pension and Postretirement Items | Interest Rate Swap
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Losses reclassified from net accumulated other comprehensive loss	[2]	0	0	0	0
Total
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss)		(126)	(143)	(126)	(143)	$ (135)	$ (141)	$ (145)	$ (141)
Losses reclassified from net accumulated other comprehensive loss	[1]	4	1	5	4
Net current period other comprehensive income (loss)		9	2	15	(2)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax		3	0	4	(10)
Total | Interest Rate Swap
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Losses reclassified from net accumulated other comprehensive loss	[2]	$ 2	$ 1	$ 6	$ 4
[1]	Included in the computation of net periodic pension and postretirement benefit costs.
[2]	Included in interest charges.

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Segment Reporting [Abstract]
Equity Method Investments	$ 204		$ 204		$ 165
Segment Reporting Information [Line Items]
Electric	3,176	$ 2,941	8,643	$ 7,430
Net income	609	603	1,282	1,185
Natural gas	268	219	1,364	1,082
Other	23	22	69	67
Regulated and Unregulated Operating Revenue	3,467	3,182	10,076	8,579
Equity Method Investments	204		204		165
Operating Segments
Segment Reporting Information [Line Items]
Regulated and Unregulated Operating Revenue	3,468	3,183	10,079	8,581
Intersegment Eliminations
Segment Reporting Information [Line Items]
Regulated and Unregulated Operating Revenue	(1)	(1)	(3)	(2)
Regulated Electric
Segment Reporting Information [Line Items]
Net income	629	632	1,202	1,148
Revenues Including Intersegment Revenues	3,176	2,942	8,644	7,431
Regulated Electric | Operating Segments
Segment Reporting Information [Line Items]
Electric	3,176	2,941	8,643	7,430
Regulated Electric | Intersegment Eliminations
Segment Reporting Information [Line Items]
Electric	0	1	1	1
Regulated Natural Gas
Segment Reporting [Abstract]
Equity Method Investments	204		204		165
Segment Reporting Information [Line Items]
Net income	10	0	161	111
Revenues Including Intersegment Revenues	269	219	1,366	1,083
Equity Method Investments	204		204		$ 165
Regulated Natural Gas | Operating Segments
Segment Reporting Information [Line Items]
Natural gas	268	219	1,364	1,082
Regulated Natural Gas | Intersegment Eliminations
Segment Reporting Information [Line Items]
Natural gas	1	0	2	1
All Other
Segment Reporting Information [Line Items]
Net income	(30)	(29)	(81)	(74)
All Other | Operating Segments
Segment Reporting Information [Line Items]
Other	$ 23	$ 22	$ 69	$ 67