Xcel Energy (XEL) 10-Q 27 Jul 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Jul. 25, 2023
Cover [Abstract]
Entity Registrant Name	XCEL ENERGY INC
Entity Central Index Key	0000072903
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
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		551,532,742

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) shares in Millions, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Operating revenues
Electric		$ 2,601	$ 2,923	$ 5,364	$ 5,556
Natural gas		393	476	1,681	1,566
Other		28	25	57	53
Total operating revenues		3,022	3,424	7,102	7,175
Operating expenses
Electric fuel and purchased power		1,030	1,181	2,147	2,275
Cost of natural gas sold and transported		170	251	1,014	961
Cost of sales — other		11	11	23	21
Operating and maintenance expenses		628	614	1,278	1,216
Conservation and demand side management expenses		63	81	139	173
Depreciation and amortization		565	638	1,189	1,200
Taxes, Other		137	179	321	350
Total operating expenses		2,604	2,955	6,111	6,196
Operating income		418	469	991	979
Other income (expense), net		11	(6)	16	(5)
Earnings from equity method investments		9	11	20	26
Allowance for funds used during construction — equity		18	20	37	33
Interest charges and financing costs
Interest charges — includes other financing costs of $8, $8, $16 and $16, respectively		268	247	521	461
Allowance for funds used during construction — debt		(12)	(7)	(22)	(12)
Total interest charges and financing costs		256	240	499	449
Income before income taxes		200	254	565	584
Income tax benefit		(88)	(74)	(141)	(124)
Net income		$ 288	$ 328	$ 706	$ 708
Weighted average common shares outstanding:
Basic (in shares)		551	546	551	545
Diluted (in shares)	[1]	552	546	551	546
Earnings per average common share:
Basic (in dollars per share)		$ 0.52	$ 0.60	$ 1.28	$ 1.30
Diluted (in dollars per share)		$ 0.52	$ 0.60	$ 1.28	$ 1.30
[1]Diluted common shares outstanding included common stock equivalents of 0.3 million for the three months ended June 30, 2023 and 2022, respectively. Diluted common shares outstanding included common stock equivalents of 0.2 million for the six months ended June 30, 2023 and 2022, respectively.

CONSOLIDATED STATEMENTS OF IN_2

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Other financing costs	$ 8	$ 8	$ 16	$ 16

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Comprehensive income:
Net income	$ 288	$ 328	$ 706	$ 708
Pension and retiree medical benefits:
Reclassifications of loss to net income, net of tax of $—, $—, $— and $1, respectively	1	1	1	2
Derivative instruments:
Net fair value increase, net of tax of $5, $4, $3 and $6, respectively	13	11	8	16
Reclassification of losses to net income, net of tax of $—, $—, $1 and $1, respectively	1	1	2	2
Total other comprehensive income	15	13	11	20
Total comprehensive income	$ 303	$ 341	$ 717	$ 728

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Pension reclassifications, tax	$ 0	$ 0	$ 0	$ 1
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	5	4	3	6
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	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating activities
Net income	$ 706	$ 708
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	1,202	1,210
Nuclear fuel amortization	53	61
Deferred income taxes	(192)	(135)
Allowance for equity funds used during construction	(37)	(33)
Earnings from equity method investments	(20)	(26)
Dividends from equity method investments	18	20
Provision for bad debts	36	30
Share-based compensation expense	12	14
Changes in operating assets and liabilities:
Accounts receivable	225	(97)
Accrued unbilled revenues	364	70
Inventories	100	(44)
Other current assets	39	26
Accounts payable	(443)	137
Net regulatory assets and liabilities	569	213
Other current liabilities	(74)	(134)
Pension and other employee benefit obligations	(37)	(32)
Other, net	(66)	0
Net cash provided by operating activities	2,455	1,988
Investing activities
Capital/construction expenditures	(2,599)	(2,040)
Purchase of investment securities	(416)	(787)
Proceeds from the sale of investment securities	399	769
Other, net	(23)	3
Net cash used in investing activities	(2,639)	(2,055)
Financing activities
Repayments of short-term borrowings, net	(269)	(869)
Proceeds from issuances of long-term debt	1,741	2,066
Repayments of long-term debt, including reacquisition premiums	(650)	(600)
Proceeds from issuance of common stock	75	151
Dividends paid	(536)	(497)
Other, net	(13)	(15)
Net cash provided by financing activities	348	236
Net change in cash, cash equivalents and restricted cash	164	169
Cash, cash equivalents and restricted cash at beginning of period	111	166
Cash, cash equivalents and restricted cash at end of period	275	335
Supplemental disclosure of cash flow information:
Cash paid for interest (net of amounts capitalized)	(461)	(425)
Cash paid for income taxes, net	(49)	(9)
Supplemental disclosure of non-cash investing and financing transactions:
Accrued property, plant and equipment additions	497	401
Inventory transfers to property, plant and equipment	78	30
Operating lease right-of-use assets	50	15
Allowance for equity funds used during construction	37	33
Issuance of common stock for reinvested dividends and/or equity awards	$ 32	$ 27

CONSOLIDATED BALANCE SHEETS (UN

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 275	$ 111
Accounts receivable, net	1,111	1,373
Accrued unbilled revenues	741	1,105
Inventories	625	803
Regulatory assets	828	1,059
Derivative instruments	233	279
Prepaid taxes	66	54
Prepayments and other	322	360
Total current assets	4,201	5,144
Property, plant and equipment, net	49,664	48,253
Other assets
Nuclear decommissioning fund and other investments	3,456	3,234
Regulatory assets	2,632	2,871
Derivative instruments	80	93
Operating lease right-of-use assets	1,143	1,204
Other	482	389
Total other assets	7,793	7,791
Total assets	61,658	61,188
Current liabilities
Current portion of long-term debt	1,051	1,151
Short-term debt	544	813
Accounts payable	1,307	1,804
Regulatory liabilities	486	418
Taxes accrued	407	569
Accrued interest	233	217
Dividends payable	287	268
Derivative instruments	65	76
Operating lease liabilities	226	217
Other	625	545
Total current liabilities	5,231	6,078
Deferred credits and other liabilities
Deferred income taxes	4,657	4,756
Deferred investment tax credits	46	48
Regulatory liabilities	5,752	5,569
Asset retirement obligations	3,295	3,380
Derivative instruments	99	113
Customer advances	174	181
Pension and employee benefit obligations	353	390
Operating lease liabilities	966	1,038
Other	156	147
Total deferred credits and other liabilities	15,498	15,622
Commitments and contingencies
Capitalization
Long-term debt	24,015	22,813
Common stock — 1,000,000,000 shares authorized of $2.50 par value; 551,375,255 and 549,578,018 shares outstanding at June 30, 2023 and December 31, 2022, respectively	$ 1,378	$ 1,374
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	551,375,255	549,578,018
Additional paid in capital	$ 8,247	$ 8,155
Retained earnings	7,371	7,239
Accumulated other comprehensive loss	(82)	(93)
Total common stockholders’ equity	16,914	16,675
Total liabilities and equity	$ 61,658	$ 61,188

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, 2021		544,025,269
Beginning balance at Dec. 31, 2021	$ 15,612	$ 1,360	$ 7,803	$ 6,572	$ (123)
Increase (Decrease) in Stockholders' Equity
Net income	708			708
Other comprehensive income	20				20
Dividends declared on common stock (USD per share)		$ 0.975
Dividends declared on common stock	(531)			(531)
Issuances of common stock (in shares)		2,782,524
Issuances of common stock	171	$ 7	164
Share-based compensation	(9)		(7)	(2)
Balance (in shares) at Jun. 30, 2022		546,807,793
Ending balance at Jun. 30, 2022	15,971	$ 1,367	7,960	6,747	(103)
Balance (in shares) at Mar. 31, 2022		544,530,987
Beginning balance at Mar. 31, 2022	15,732	$ 1,361	7,801	6,686	(116)
Increase (Decrease) in Stockholders' Equity
Net income	328			328
Other comprehensive income	13				13
Dividends declared on common stock (USD per share)		$ 0.4875
Dividends declared on common stock	(266)			(266)
Issuances of common stock (in shares)		2,276,806
Issuances of common stock	159	$ 6	153
Share-based compensation	5		6	(1)
Balance (in shares) at Jun. 30, 2022		546,807,793
Ending balance at Jun. 30, 2022	$ 15,971	$ 1,367	7,960	6,747	(103)
Balance (in shares) at Dec. 31, 2022	549,578,018	549,578,018
Beginning balance at Dec. 31, 2022	$ 16,675	$ 1,374	8,155	7,239	(93)
Increase (Decrease) in Stockholders' Equity
Net income	706			706
Other comprehensive income	11				11
Dividends declared on common stock (USD per share)		$ 1.04
Dividends declared on common stock	(572)			(572)
Issuances of common stock (in shares)		1,797,237
Issuances of common stock	95	$ 4	91
Share-based compensation	$ (1)		1	(2)
Balance (in shares) at Jun. 30, 2023	551,375,255	551,375,255
Ending balance at Jun. 30, 2023	$ 16,914	$ 1,378	8,247	7,371	(82)
Balance (in shares) at Mar. 31, 2023		550,222,192
Beginning balance at Mar. 31, 2023	16,818	$ 1,376	8,169	7,370	(97)
Increase (Decrease) in Stockholders' Equity
Net income	288			288
Other comprehensive income	15				15
Dividends declared on common stock (USD per share)		$ 0.52
Dividends declared on common stock	(286)			(286)
Issuances of common stock (in shares)		1,153,063
Issuances of common stock	77	$ 2	75
Share-based compensation	$ 2		3	(1)
Balance (in shares) at Jun. 30, 2023	551,375,255	551,375,255
Ending balance at Jun. 30, 2023	$ 16,914	$ 1,378	$ 8,247	$ 7,371	$ (82)

Management's Opinion

Management's Opinion	6 Months Ended
	Jun. 30, 2023
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 as of June 30, 2023 and Dec. 31, 2022; the results of Xcel Energy’s operations, including the components of net income, comprehensive income, and changes in stockholders’ equity for the three and six months ended June 30, 2023 and 2022; and Xcel Energy’s cash flows for the six months ended June 30, 2023 and 2022. All adjustments are of a normal, recurring nature, except as otherwise disclosed. Management has also evaluated the impact of events occurring after June 30, 2023, 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, 2022 balance sheet information has been derived from the audited 2022 consolidated financial statements included in the Xcel Energy Inc. Annual Report on Form 10-K for the year ended Dec. 31, 2022. 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, 2022, filed with the SEC on Feb. 23, 2023. 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	6 Months Ended
	Jun. 30, 2023
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, 2022 appropriately represent, in all material respects, the current status of accounting policies and are incorporated herein by reference.

Accounting Pronouncements

Accounting Pronouncements	6 Months Ended
	Jun. 30, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
Accounting Pronouncements	As of June 30, 2023, there was no material impact from the recent adoption of new accounting pronouncements, nor expected material impact from recently issued accounting pronouncements yet to be adopted, on Xcel Energy’s consolidated financial statements.

Selected Balance Sheet Data

Selected Balance Sheet Data	6 Months Ended
	Jun. 30, 2023
Balance Sheet Related Disclosures [Abstract]
Selected Balance Sheet Data	(Millions of Dollars) June 30, 2023 Dec. 31, 2022 Accounts receivable, net Accounts receivable $ 1,232 $ 1,495 Less allowance for bad debts (121) (122) Accounts receivable, net $ 1,111 $ 1,373 (Millions of Dollars) June 30, 2023 Dec. 31, 2022 Inventories Materials and supplies $ 354 $ 330 Fuel 199 201 Natural gas 72 272 Total inventories $ 625 $ 803 (Millions of Dollars) June 30, 2023 Dec. 31, 2022 Property, plant and equipment, net Electric plant $ 50,816 $ 49,639 Natural gas plant 8,777 8,514 Common and other property 3,081 2,970 Plant to be retired (a) 2,148 2,217 Construction work in progress 2,541 2,124 Total property, plant and equipment 67,363 65,464 Less accumulated depreciation (18,032) (17,502) Nuclear fuel 3,278 3,183 Less accumulated amortization (2,945) (2,892) Property, plant and equipment, net $ 49,664 $ 48,253

Borrowings and Other Financing

Borrowings and Other Financing Instruments	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Borrowings and Other Financing Instruments	4. 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 June 30, 2023 Year Ended Dec. 31, 2022 Borrowing limit $ 3,550 $ 3,550 Amount outstanding at period end 544 813 Average amount outstanding 516 552 Maximum amount outstanding 1,078 1,357 Weighted average interest rate, computed on a daily basis 5.26 % 1.47 % Weighted average interest rate at period end 5.32 4.66 Letters of Credit — Xcel Energy Inc. and its utility subsidiaries use letters of credit, generally with terms of one year, to provide financial guarantees for certain obligations. There were $46 million and $43 million of letters of credit outstanding under the credit facilities at both June 30, 2023 and Dec. 31, 2022. 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 equal to or greater than the 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 June 30, 2023, 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. $ 1,500 $ 476 $ 1,024 PSCo 700 29 671 NSP-Minnesota 700 15 685 SPS 500 70 430 NSP-Wisconsin 150 — 150 Total $ 3,550 $ 590 $ 2,960 (a) Expires in September 2027. (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 capacity of the credit facility. Xcel Energy Inc. and its utility subsidiaries had no direct advances on the credit facilities outstanding as of June 30, 2023 and Dec. 31, 2022. Bilateral Credit Agreement In April 2023, 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 June 30, 2023, NSP-Minnesota had $57 million of outstanding letters of credit under the $75 million bilateral credit agreement. Long-Term Borrowings and Other Financing Instruments During the six months ended June 30, 2023, Xcel Energy Inc. and its utility subsidiaries issued the following: • PSCo issued $850 million of 5.25% first mortgage bonds due April 1, 2053. • NSP-Wisconsin issued $125 million of 5.30% first mortgage bonds due June 15, 2053. • NSP-Minnesota issued $800 million of 5.10% first mortgage bonds due May 15, 2053. ATM Equity Offering — In November 2021, Xcel Energy Inc. filed a prospectus supplement under which it may sell up to $800 million of its common stock through an ATM program. In 2021, 5.33 million shares were issued (approximately $350 million). In 2022, 4.30 million shares of common stock were issued (approximately $300 million). In the six months ended June 30, 2023, 0.9 million shares were issued (approximately $62 million). As of June 30, 2023, approximately $88 million remained available for sale under the ATM program. Xcel Energy Inc. plans to file a new ATM program in 2023. Equity through DRIP and Benefits Program — Xcel Energy issued $61 million and $45 million of equity through the DRIP and benefits programs during the six months ended June 30, 2023 and 2022, respectively. The programs allow shareholders to reinvest their dividends directly in Xcel Energy Inc. common stock.

Revenues

Revenues	6 Months Ended
	Jun. 30, 2023
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 June 30, 2023 (Millions of Dollars) Electric Natural Gas All Other Total Major revenue types Revenue from contracts with customers: Residential $ 748 $ 216 $ 15 $ 979 C&I 1,337 124 8 1,469 Other 37 — 1 38 Total retail 2,122 340 24 2,486 Wholesale 174 — — 174 Transmission 157 — — 157 Other 4 32 — 36 Total revenue from contracts with customers 2,457 372 24 2,853 Alternative revenue and other 144 21 4 169 Total revenues $ 2,601 $ 393 $ 28 $ 3,022 Three Months Ended June 30, 2022 (Millions of Dollars) Electric Natural Gas All Other Total Major revenue types Revenue from contracts with customers: Residential $ 797 $ 257 $ 6 $ 1,060 C&I 1,416 164 7 1,587 Other 37 — 9 46 Total retail 2,250 421 22 2,693 Wholesale 318 — — 318 Transmission 156 — — 156 Other 12 37 — 49 Total revenue from contracts with customers 2,736 458 22 3,216 Alternative revenue and other 187 18 3 208 Total revenues $ 2,923 $ 476 $ 25 $ 3,424 Six Months Ended June 30, 2023 (Millions of Dollars) Electric Natural Gas All Other Total Major revenue types Revenue from contracts with customers: Residential $ 1,622 $ 1,005 $ 28 $ 2,655 C&I 2,690 547 20 3,257 Other 73 — 2 75 Total retail 4,385 1,552 50 5,987 Wholesale 398 — — 398 Transmission 320 — — 320 Other 13 80 — 93 Total revenue from contracts with customers 5,116 1,632 50 6,798 Alternative revenue and other 248 49 7 304 Total revenues $ 5,364 $ 1,681 $ 57 $ 7,102 Six Months Ended June 30, 2022 (Millions of Dollars) Electric Natural Gas All Other Total Major revenue types Revenue from contracts with customers: Residential $ 1,614 $ 919 $ 15 $ 2,548 C&I 2,651 520 9 3,180 Other 69 — 23 92 Total retail 4,334 1,439 47 5,820 Wholesale 577 — — 577 Transmission 308 — — 308 Other 35 82 — 117 Total revenue from contracts with customers 5,254 1,521 47 6,822 Alternative revenue and other 302 45 6 353 Total revenues $ 5,556 $ 1,566 $ 53 $ 7,175

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Reconciliation between the statutory rate and ETR: Three Months Ended June 30 Six Months Ended June 30 2023 2022 2023 2022 Federal statutory rate 21.0 % 21.0 % 21.0 % 21.0 % State tax (net of federal tax effect) 5.1 5.2 4.9 5.0 (Decreases) increases: Wind PTCs (a) (64.0) (48.3) (44.1) (40.4) Plant regulatory differences (b) (6.3) (5.5) (5.8) (5.1) Other tax credits, net operating loss & tax credits allowances (1.4) (1.4) (1.5) (1.5) Other (net) 1.6 (0.1) 0.5 (0.2) Effective income tax rate (44.0) % (29.1) % (25.0) % (21.2) % (a) Wind PTCs are credited to customers (reduction to revenue) and do not materially impact net income. (b) Plant regulatory differences primarily relate to the credit of excess deferred taxes to customers through the average rate assumption method. Income tax benefits associated with the credit are offset by corresponding revenue reductions.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2023
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 June 30 Six Months Ended June 30 (Shares in Millions) 2023 2022 2023 2022 Basic 551 546 551 545 Diluted (a) 552 546 551 546

Fair Value of Financial Assets

Fair Value of Financial Assets and Liabilities	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Assets and Liabilities	Fair Value Measurements Accounting guidance for fair value measurements and disclosures provides a hierarchical framework for disclosing the observability of the inputs utilized in measuring assets and liabilities at fair value. • 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 actively traded instruments with observable actual trading prices. • Level 2 — Pricing inputs are other than actual trading 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 include those valued with models requiring significant judgment or estimation. Specific valuation methods include: 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 funds 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 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 contracts relate to inactive delivery locations or extend to periods beyond those readily observable on active exchanges, 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 an 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 values of these instruments are derived from, and designed to offset, the costs 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 these instruments. FTRs are recognized at fair value and adjusted each period prior to settlement. Given the limited observability of certain variables underlying the reported auction values of FTRs, these fair value measurements have been assigned a Level 3 classification. Net congestion costs, including the impact of FTR settlements, are shared through fuel and purchased energy cost recovery mechanisms. As such, the fair value of the unsettled instruments (i.e., derivative asset or liability) is offset/deferred as a regulatory asset or liability. Non-Derivative Fair Value Measurements Nuclear Decommissioning Fund The NRC requires NSP-Minnesota to maintain a portfolio of investments to fund the costs of decommissioning its nuclear generating plants. Assets of the nuclear decommissioning fund are legally restricted for the purpose of decommissioning these facilities. The fund contains cash equivalents, debt securities, equity securities and other investments. NSP-Minnesota uses the MPUC approved asset allocation for the investment targets by asset class for the qualified trust. NSP-Minnesota recognizes the costs of funding the decommissioning over the lives of the nuclear plants, assuming rate recovery of all costs. Realized and unrealized gains on fund investments over the life of the fund are deferred as an offset of NSP-Minnesota’s regulatory asset for nuclear decommissioning costs. Consequently, any realized and unrealized gains and losses on securities in the nuclear decommissioning fund are deferred as a component of the regulatory asset. Unrealized gains for the nuclear decommissioning fund were $1 billion as of June 30, 2023 and Dec. 31, 2022, and unrealized losses were $68 million and $90 million as of June 30, 2023 and Dec. 31, 2022, respectively. Non-derivative instruments with recurring fair value measurements in the nuclear decommissioning fund: June 30, 2023 Fair Value (Millions of Dollars) Cost Level 1 Level 2 Level 3 NAV Total Nuclear decommissioning fund (a) Cash equivalents $ 35 $ 35 $ — $ — $ — $ 35 Commingled funds 736 — — — 1,061 1,061 Debt securities 780 — 724 8 — 732 Equity securities 508 1,248 2 — — 1,250 Total $ 2,059 $ 1,283 $ 726 $ 8 $ 1,061 $ 3,078 (a) Reported in nuclear decommissioning fund and other investments on the consolidated balance sheets, which also includes $240 million of equity method investments and $138 million of rabbi trust assets and other miscellaneous investments. Dec. 31, 2022 Fair Value (Millions of Dollars) Cost Level 1 Level 2 Level 3 NAV Total Nuclear decommissioning fund (a) Cash equivalents $ 29 $ 29 $ — $ — $ — $ 29 Commingled funds 803 — — — 1,178 1,178 Debt securities 738 — 669 6 — 675 Equity securities 406 999 1 — — 1,000 Total $ 1,976 $ 1,028 $ 670 $ 6 $ 1,178 $ 2,882 (a) Reported in nuclear decommissioning fund and other investments on the consolidated balance sheets, which also includes $219 million of equity investments in unconsolidated subsidiaries and $133 million of rabbi trust assets and other miscellaneous investments. For the three and six months ended June 30, 2023 and 2022, there were immaterial Level 3 nuclear decommissioning fund investments or transfer of amounts between levels. Contractual maturity dates of debt securities in the nuclear decommissioning fund as of June 30, 2023: 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 $ 4 $ 229 $ 259 $ 240 $ 732 Rabbi Trusts Xcel Energy has established rabbi trusts to provide partial funding for future distributions of a deferred compensation plan. The fair value of assets held in the rabbi trusts were $84 million and $80 million at June 30, 2023 and Dec. 31, 2022, respectively, comprised of cash equivalents and mutual funds (level 1 valuation methods). Amounts are reported in nuclear decommissioning fund and other investments on the consolidated balance sheet. Derivative Activities and 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, and utility commodity prices. Interest Rate Derivatives — Xcel Energy enters into contracts that effectively fix the interest rate on a specified principal amount of a hypothetical future debt issuance. These financial swaps net settle based on changes in a specified benchmark interest rate, acting as a hedge of changes in market interest rates that will impact specified anticipated debt issuances. These derivative instruments are designated as cash flow hedges for accounting purposes, with changes in fair value prior to occurrence of the hedged transactions recorded as other comprehensive income. As of June 30, 2023, accumulated other comprehensive loss related to interest rate derivatives included $2 million of net losses expected to be reclassified into earnings during the next 12 months as the hedged transactions impact earnings. As of June 30, 2023, Xcel Energy had unsettled interest swaps outstanding with a notional amount of $345 million. See Note 11 for the financial impact of qualifying interest rate cash flow hedges on Xcel Energy’s accumulated other comprehensive loss included in the consolidated statements of common stockholder’s equity and in the consolidated statements of comprehensive income. Wholesale and Commodity Trading — 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. Results of derivative instrument transactions entered into for trading purposes are presented in the consolidated statements of income as electric revenues, net of any sharing with customers. These activities are not intended to mitigate commodity price risk associated with regulated electric and natural gas operations. Sharing of these 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. This could include the purchase or sale of energy or energy-related products, natural gas to generate electric energy, natural gas for resale and FTRs. The most significant derivative positions outstanding at June 30, 2023 and Dec. 31, 2022 for this purpose relate to FTR instruments administered by MISO and SPP. These instruments are intended to offset the impacts of transmission system congestion. When Xcel Energy enters into derivative instruments that mitigate commodity price risk on behalf of electric and natural gas customers, the instruments are not typically designated as qualifying hedging transactions. The classification of unrealized losses or gains on these instruments as a regulatory asset or liability, if applicable, is based on approved regulatory recovery mechanisms. As of June 30, 2023, Xcel Energy had no commodity contracts designated as cash flow hedges. Gross notional amounts of commodity forwards, options and FTRs: (Amounts in Millions) (a)(b) June 30, 2023 Dec. 31, 2022 Megawatt hours of electricity 93 61 Million British thermal units of natural gas 110 131 (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 on 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 June 30, 2023, five of Xcel Energy’s ten most significant counterparties for these activities, comprising $68 million, or 29%, of this credit exposure, had investment grade credit ratings from S&P Global Ratings, Moody’s Investor Services or Fitch Ratings. Three of the ten most significant counterparties, comprising $55 million, or 24%, 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 $58 million, or 25%, of this credit exposure, had credit quality less than investment grade, based on internal analysis. Seven of these significant counterparties are municipal or cooperative electric entities, RTOs or other utilities. Credit Related Contingent Features — Contract provisions for derivative instruments that the utility subsidiaries enter, including those accounted for as normal purchase and 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. As of June 30, 2023 and Dec. 31, 2022, there were $10 million and $4 million, respectively, of derivative liabilities with such underlying contract provisions, respectively. 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 June 30, 2023 and Dec. 31, 2022, there were approximately $88 million and $76 million of derivative liabilities with such underlying contract provisions, respectively. 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 June 30, 2023 and Dec. 31, 2022. Recurring Derivative Fair Value Measurements 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 June 30, 2023 Derivatives designated as cash flow hedges: Interest rate $ 18 $ — Total $ 18 $ — Other derivative instruments: Electric commodity $ — $ (19) Natural gas commodity — — Total $ — $ (19) Six Months Ended June 30, 2023 Derivatives designated as cash flow hedges: Interest rate $ 11 $ — Total $ 11 $ — Other derivative instruments: Electric commodity $ — $ (111) Natural gas commodity — 3 Total $ — $ (108) Three Months Ended June 30, 2022 Derivatives designated as cash flow hedges: Interest rate $ 15 $ — Total $ 15 $ — Other derivative instruments: Electric commodity $ — $ 98 Natural gas commodity — (1) Total $ — $ 97 Six Months Ended June 30, 2022 Derivatives designated as cash flow hedges: Interest rate $ 22 $ — Total $ 22 $ — Other derivative instruments: Electric commodity $ — $ 100 Natural gas commodity — 3 Total $ — $ 103 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 June 30, 2023 Derivatives designated as cash flow hedges: Interest rate $ 1 (a) $ — $ — Total $ 1 $ — $ — Other derivative instruments: Commodity trading $ — $ — $ (6) (b) Electric commodity — 11 (c) — Total $ — $ 11 $ (6) Six Months Ended June 30, 2023 Derivatives designated as cash flow hedges: Interest rate $ 3 (a) $ — $ — Total $ 3 $ — $ — Other derivative instruments: Commodity trading $ — $ — $ (6) (b) Electric commodity — 94 (c) — Natural gas commodity — 10 (d) (19) (d)(e) Total $ — $ 104 $ (25) Three Months Ended June 30, 2022 Derivatives designated as cash flow hedges: Interest rate $ 1 (a) $ — $ — Total $ 1 $ — $ — Other derivative instruments: Commodity trading $ — $ — $ 7 (b) Electric commodity — (26) (c) — Total $ — $ (26) $ 7 Six Months Ended June 30, 2022 Derivatives designated as cash flow hedges: Interest rate $ 3 (a) $ — $ — Total $ 3 $ — $ — Other derivative instruments: Commodity trading $ — $ — $ 9 (b) Electric commodity — (36) (c) — Natural gas commodity — 4 (d) (17) (d)(e) Total $ — $ (32) $ (8) (a) Recorded to interest charges. (b) Recorded to electric revenues. Presented amounts do not reflect non-derivative transactions or margin sharing with customers. (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. FTR settlements are shared with customers and do not have a material impact on net income. Presented amounts reflect changes in fair value between auction and settlement dates, but exclude the original auction fair value. (d) Recorded to cost of natural gas sold and transported. These losses are subject to cost-recovery mechanisms and reclassified out of income to a regulatory asset, as appropriate. (e) Relates primarily to option premium amortization. Xcel Energy had no derivative instruments designated as fair value hedges during the six months ended June 30, 2023 and 2022. Derivative assets and liabilities measured at fair value on a recurring basis were as follows: June 30, 2023 Dec. 31, 2022 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 $ — $ 8 $ — $ 8 $ — $ 8 $ — $ — $ — $ — $ — $ — Other derivative instruments: Commodity trading $ 10 $ 134 $ 34 $ 178 $ (116) $ 62 $ 32 $ 259 $ 33 $ 324 $ (242) $ 82 Electric commodity — — 158 158 (2) 156 — — 177 177 (2) 175 Natural gas commodity — 4 — 4 — 4 — 19 — 19 — 19 Total current derivative assets $ 10 $ 146 $ 192 $ 348 $ (118) 230 $ 32 $ 278 $ 210 $ 520 $ (244) 276 PPAs (b) 3 3 Current derivative instruments $ 233 $ 279 Noncurrent derivative assets Other derivative instruments: Commodity trading $ 19 $ 53 $ 68 $ 140 $ (62) $ 78 $ 34 $ 71 $ 74 $ 179 $ (89) $ 90 Total noncurrent derivative assets $ 19 $ 53 $ 68 $ 140 $ (62) 78 $ 34 $ 71 $ 74 $ 179 $ (89) 90 PPAs (b) 2 3 Noncurrent derivative instruments $ 80 $ 93 June 30, 2023 Dec. 31, 2022 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 Derivatives designated as cash flow hedges: Interest rate $ — $ — $ — $ — $ — $ — $ — $ 1 $ — $ 1 $ — $ 1 Other derivative instruments: Commodity trading $ 9 $ 168 $ 6 $ 183 $ (135) $ 48 $ 29 $ 297 $ 6 $ 332 $ (287) $ 45 Electric commodity — — 2 2 (2) — — — 2 2 (2) — Natural gas commodity — — — — — — — 13 — 13 — 13 Total current derivative liabilities $ 9 $ 168 $ 8 $ 185 $ (137) 48 $ 29 $ 311 $ 8 $ 348 $ (289) 59 PPAs (b) 17 17 Current derivative instruments $ 65 $ 76 Noncurrent derivative liabilities Other derivative instruments: Commodity trading $ 22 $ 70 $ 43 $ 135 $ (62) $ 73 $ 43 $ 97 $ 41 $ 181 $ (98) $ 83 Total noncurrent derivative liabilities $ 22 $ 70 $ 43 $ 135 $ (62) 73 $ 43 $ 97 $ 41 $ 181 $ (98) 83 PPAs (b) 26 30 Noncurrent derivative instruments $ 99 $ 113 (a) Xcel Energy nets derivative instruments and related collateral on its consolidated balance sheets when supported by a legally enforceable master netting agreement. At June 30, 2023 and Dec. 31, 2022, derivative assets and liabilities include no obligations to return cash collateral. At June 30, 2023 and Dec. 31, 2022, derivative assets and liabilities include rights to reclaim cash collateral of $19 million and $53 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) Xcel Energy currently applies the normal purchase exception to qualifying PPAs. Balance relates to specific contracts that were previously recognized at fair value prior to applying the normal purchase exception, and are being amortized over the remaining contract lives along with the offsetting regulatory assets and liabilities. Changes in Level 3 commodity derivatives: Three Months Ended June 30 (Millions of Dollars) 2023 2022 Balance at April 1 $ 78 $ 39 Purchases (a) 167 390 Settlements (a) (47) (155) Net transactions recorded during the period: Gains recognized in earnings (b) 10 78 Net gains recognized as regulatory assets and liabilities (a) 1 133 Balance at June 30 $ 209 $ 485 Six Months Ended June 30 (Millions of Dollars) 2023 2022 Balance at Jan. 1 $ 235 $ 19 Purchases (a) 172 394 Settlements (a) (76) (181) Net transactions recorded during the period: (Losses) gains recognized in earnings (b) (2) 120 Net (losses) gains recognized as regulatory assets and liabilities (a) (120) 133 Balance at June 30 $ 209 $ 485 (a) Relates primarily to NSP-Minnesota and SPS FTR instruments administered by MISO and SPP. (b) Relates to commodity trading and is subject to substantial offsetting losses and gains on derivative instruments categorized as levels 1 and 2 in the income statement. See above tables for the income statement impact of derivative activity, including commodity trading gains and losses. Fair Value of Long-Term Debt As of June 30, 2023, other financial instruments for which the carrying amount did not equal fair value: June 30, 2023 Dec. 31, 2022 (Millions of Dollars) Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt, including current portion $ 25,066 $ 21,855 $ 23,964 $ 20,897 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 June 30, 2023 and Dec. 31, 2022, 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	6 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
Benefit Plans and Other Postretirement Benefits	Components of Net Periodic Benefit Cost (Credit) Three Months Ended June 30 2023 2022 2023 2022 (Millions of Dollars) Pension Benefits Postretirement Health Service cost $ 18 $ 25 $ — $ 1 Interest cost (a) 40 28 5 4 Expected return on plan assets (a) (52) (52) (4) (5) Amortization of prior service credit (a) — (1) — (1) Amortization of net loss (a) 5 18 1 — Net periodic benefit cost (credit) 11 18 2 (1) Effects of regulation 7 1 — — Net benefit cost (credit) recognized for financial reporting $ 18 $ 19 $ 2 $ (1) Six Months Ended June 30 2023 2022 2023 2022 (Millions of Dollars) Pension Benefits Postretirement Health Service cost $ 37 $ 49 $ — $ 1 Interest cost (a) 80 55 11 8 Expected return on plan assets (a) (105) (104) (9) (9) Amortization of prior service credit (a) (1) (1) — (3) Amortization of net loss (a) 11 37 1 1 Settlement charge (b) — (1) — — Net periodic benefit cost (credit) 22 35 3 (2) Effects of regulation 14 6 — 1 Net benefit cost (credit) recognized for financial reporting $ 36 $ 41 $ 3 $ (1) (a) The components of net periodic cost other than the service cost component are included in the line item “Other income, net” in the consolidated statements of income or capitalized on the consolidated balance sheets as a regulatory asset. (b) In the six months ended June 30, 2022, Xcel Energy recognized $1 million in settlement charge true-ups related to the fourth quarter of 2021.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Legal Xcel Energy is involved in various litigation matters in the ordinary course of business. The assessment of whether a loss is probable or is a reasonable possibility, and whether the loss or a range of loss is estimable, often involves a series of complex judgments about future events. Management maintains accruals for losses probable of being incurred and subject to reasonable estimation. Management is sometimes unable to estimate an amount or range of a reasonably possible loss in certain situations, including but not limited to when (1) the damages sought are indeterminate, (2) the proceedings are in the early stages, or (3) the matters involve novel or unsettled legal theories. In such cases, there is considerable uncertainty regarding the timing or ultimate resolution, including a possible eventual loss. For current proceedings not specifically reported herein, management does not anticipate that the ultimate liabilities, if any, would have a material effect on Xcel Energy’s consolidated financial statements. Legal fees are generally expensed as incurred. Gas Trading Litigation — e prime is a wholly owned subsidiary of Xcel Energy. e prime was in the business of natural gas trading and marketing but has not engaged in natural gas trading or marketing activities since 2003. Multiple lawsuits involving multiple plaintiffs seeking monetary damages were commenced against e prime and its affiliates, including Xcel Energy, between 2003 and 2009 alleging fraud and anticompetitive activities in conspiring to restrain the trade of natural gas and manipulate natural gas prices. Cases were all consolidated in the U.S. District Court in Nevada. One case remains active which includes a multi-district litigation matter consisting of a Wisconsin purported class (Arandell Corp.). The Court issued a ruling in June 2022 granting plaintiffs’ class certification. In April 2023, the Seventh Circuit Court of Appeals heard the defendants’ appeal challenging whether the district court properly assessed class certification. A decision relating to class certification is expected later this year. Xcel Energy considers the reasonably possible loss associated with this litigation to be immaterial. Comanche Unit 3 Litigation — In 2021, CORE filed a lawsuit in Denver County District Court, alleging PSCo breached ownership agreement terms by failing to operate Comanche Unit 3 in accordance with prudent utility practices. In January 2022, the Court granted PSCo’s motion to dismiss CORE’s claims for unjust enrichment, declaratory judgment and damages for replacement power costs. In April 2022, CORE filed a supplement to include the January 2022 outage and damages related to this event. Also in 2022, CORE sent notice of withdrawal from the ownership agreement based on the same alleged breaches. In February 2023, CORE disclosed its expert witness, who estimated damages incurred of $270 million. Also in February 2023, the court granted PSCo’s motion precluding CORE from seeking damages related to its withdrawal as part of the lawsuit. PSCo continues to believe CORE's claims are without merit and disputes CORE’s right to withdraw. The Denver District Court trial is scheduled to begin in October 2023. Marshall Wildfire In December 2021, a wildfire ignited in Boulder County, Colorado (the “Marshall Fire”), which burned over 6,000 acres and destroyed or damaged over 1,000 structures. On June 8, 2023, the Boulder County Sheriff’s Office released its Marshall Fire Investigative Summary and Review and its supporting documents (the “Sheriff’s Report”). According to an October 2022 statement from the Colorado Insurance Commissioner, the Marshall Fire is estimated to have caused more than $2 billion in property losses. According to the Sheriff’s Report, on Dec. 30, 2021, a fire ignited on a residential property in Boulder, Colorado, located in PSCo’s service territory, for reasons unrelated to PSCo’s power lines. According to the Sheriff’s Report, approximately one hour and 20 minutes after the first ignition, a second fire ignited just south of the Marshall Mesa Trailhead in unincorporated Boulder County, Colorado, also located in PSCo’s service territory. According to the Sheriff’s Report, the second ignition started approximately 80 to 110 feet away from PSCo’s power lines in the area. The Sheriff’s Report states that the most probable cause of the second ignition was hot particles discharged from PSCo’s power lines after one of the power lines detached from its insulator in strong winds, and further states that it cannot be ruled out that the second ignition was caused by an underground coal fire. According to the Sheriff’s Report, no design, installation or maintenance defects or deficiencies were identified on PSCo’s electrical circuit in the area of the second ignition. PSCo disputes that its power lines caused the second ignition . As of July 24, 2023, PSCo is aware of approximately 8 complaints on behalf of at least 586 plaintiffs relating to the Marshall Fire and expects that it may receive further complaints. The complaints generally allege that PSCo’s equipment ignited the Marshall Fire and assert various causes of action under Colorado law, including negligence, premises liability, trespass, nuisance, and inverse condemnation. Colorado courts do not apply strict liability in determining an electric utility company’s liability for fire-related damages. For inverse condemnation claims, Colorado courts assess whether a defendant acted with intent to take a plaintiff’s property or intentionally took an action which has the natural consequence of taking the property. For negligence claims, Colorado courts look to whether electric power companies have operated their system with a heightened duty of care consistent with the practical conduct of its business, and liability does not extend to occurrences that cannot be reasonably anticipated. Under Colorado law, in a civil action other than a medical malpractice action, the total award for noneconomic loss is capped at $0.6 million for claims that accrued at the time of the Marshall Fire unless the court finds justification to exceed that amount by clear and convincing evidence, in which case the maximum doubles. Colorado law does not impose joint and several liability in tort actions. Instead, under Colorado law, a defendant is liable for the degree or percentage of the negligence or fault attributable to that defendant, except where the defendant conspired with another defendant. A jury’s verdict in a Colorado civil case must be unanimous. Colorado law caps punitive or exemplary damages to an amount equal to the amount of the actual damages awarded to the injured party, except the court may increase any award of punitive damages to a sum up to three times the amount of actual damages if the conduct that is the subject of the claim has continued during the pendency of the case or the defendant has acted in a willful and wanton manner during the action which further aggravated plaintiff’s damages. In the event Xcel Energy Inc. or PSCo was found liable related to this litigation and were required to pay damages, such amounts could exceed our insurance coverage of approximately $500 million and have a material adverse effect on our financial condition, results of operations or cash flows. However, due to uncertainty as to the cause of the fire and the extent and magnitude of potential damages, Xcel Energy Inc. and PSCo are unable to estimate the amount or range of possible losses in connection with the Marshall Fire. Rate Matters and Other Xcel Energy’s operating subsidiaries are involved in various regulatory proceedings arising in the ordinary course of business. Until resolution, typically in the form of a rate order, uncertainties may exist regarding the ultimate rate treatment for certain activities and transactions. Amounts have been recognized for probable and reasonably estimable losses that may result. Unless otherwise disclosed, any reasonably possible range of loss in excess of any recognized amount is not expected to have a material effect on the consolidated financial statements. Sherco — In 2018, NSP-Minnesota and SMMPA (Co-owner of Sherco Unit 3) reached a settlement with GE related to a 2011 incident, which damaged the turbine at Sherco Unit 3 and resulted in an extended outage for repair. NSP-Minnesota notified the MPUC of its proposal to refund settlement proceeds to customers through the fuel clause adjustment. In March 2019, the MPUC approved NSP-Minnesota’s settlement refund proposal. Additionally, the MPUC decided to withhold any decision as to NSP-Minnesota’s prudence in connection with the incident at Sherco Unit 3 until after conclusion of an appeal pending between GE and NSP-Minnesota’s insurers. In February 2020, the Minnesota Court of Appeals affirmed the district court’s judgment in favor of GE. In March 2020, NSP-Minnesota’s insurers filed a petition seeking additional review by the Minnesota Supreme Court. In April 2020, the Minnesota Supreme Court denied the insurers’ petition for further review, ending the litigation. In January 2021, the OAG and DOC recommended that NSP-Minnesota refund approximately $17 million of replacement power costs previously recovered through the fuel clause adjustment. NSP-Minnesota subsequently filed its response, asserting that it acted prudently in connection with the Sherco Unit 3 outage, the MPUC has previously disallowed $22 million of related costs and no additional refund or disallowance is appropriate. In July 2022, the MPUC referred the matter to the Office of Administrative Hearings to conduct a contested case on the prudence of the replacement power costs incurred by NSP-Minnesota. In June 2023, NSP-Minnesota and the DOC filed direct testimony. The DOC changed its recommendation to a refund of either $58 million or $72 million based on methodologies that do not account for prior disallowances or other amounts returned to customers plus interest. No other party filed direct testimony. A final decision by the MPUC is expected in mid-2024. A loss related to this matter is deemed remote. MISO ROE Complaints — In November 2013 and February 2015, customer groups filed two ROE complaints against MISO TOs, which includes NSP-Minnesota and NSP-Wisconsin. The first complaint requested a reduction in base ROE transmission formula rates from 12.38% to 9.15% for the time period of Nov. 12, 2013 to Feb. 11, 2015, and removal of ROE adders (including those for RTO membership). The second complaint requested, for a subsequent time period, a base ROE reduction from 12.38% to 8.67%. The FERC subsequently issued various related orders (including Opinion Nos. 569, 569A and 569B) related to ROE methodology/calculations and timing. NSP-Minnesota has processed refunds to customers for applicable complaint periods based on the ROE in the most recent applicable opinions. The MISO TOs and various other parties have filed petitions for review of the FERC’s most recent applicable opinions at the D.C. Circuit. In August 2022, the D.C. Circuit ruled that FERC had not adequately supported its conclusions, vacated FERC’s related orders, and remanded the issue back to FERC for further proceedings, which remain pending. Additional exposure, if any, related to this matter is expected to be immaterial. SPP OATT Upgrade Costs — Costs of transmission upgrades may be recovered from other SPP customers whose transmission service depends on capacity enabled by the upgrade under the SPP OATT. SPP had not been charging its customers for these upgrades, even though the SPP OATT had allowed SPP to do so since 2008. In 2016, the FERC granted SPP’s request to recover these previously unbilled charges and SPP subsequently billed SPS approximately $13 million. In 2018, SPS’ appeal to the D.C. Circuit over the FERC rulings granting SPP the right to recover previously unbilled charges was remanded to the FERC. In 2019, the FERC reversed its 2016 decision and ordered SPP to refund charges retroactively collected from its transmission customers, including SPS, related to periods before September 2015. In 2020, SPP and Oklahoma Gas & Electric separately filed petitions for review of the FERC’s orders at the D.C. Circuit. In 2021, the D.C. Circuit issued a decision denying these appeals and upholding the FERC’s orders. Refunds received by SPS are expected to be given back to SPS customers through future rates. In 2017, SPS filed a separate related complaint asserting SPP assessed upgrade charges to SPS in violation of the SPP OATT. In 2018, the FERC issued an order denying the SPS complaint. SPS filed a request for rehearing in 2018. The FERC subsequently issued a tolling order granting a rehearing for further consideration. If SPS’ complaint results in additional charges or refunds, SPS will seek to recover or refund the amount through future SPS customer rates. In 2020, SPS filed a petition for review of the FERC’s 2018 orders at the D.C. Circuit. In February 2022, FERC issued an order rejecting SPS’ request for hearing. SPS has appealed that order. That appeal has been combined with SPS’ prior appeal. Environmental MGP, Landfill and Disposal Sites Xcel Energy is investigating, remediating or performing post-closure actions at twelve MGP, landfill or other disposal sites across its service territories, excluding sites that are being addressed under coal ash regulations. Xcel Energy has recognized its best estimate of costs/liabilities from final resolution of these issues, however, the outcome and timing are 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 applicable landfills and surface impoundments as well as perform corrective actions where offsite groundwater has been impacted. As of June 30, 2023, Xcel Energy had eight regulated ash units in operation. PSCo has executed an agreement with a third party that will excavate and process ash for beneficial use (at two sites) at a cost of approximately $45 million. An estimated liability has been recorded and amounts are expected to be fully recoverable through regulatory mechanisms. Investigation and feasibility studies for additional corrective action related to offsite groundwater are ongoing (at three Colorado sites). While the results are uncertain, additional costs are estimated to be at least $40 million. A liability has been recorded and is expected to be fully recoverable through regulatory mechanisms. Federal Clean Water Act Section 316(b) — The Federal Clean Water Act requires the EPA to regulate cooling water intake structures to assure they reflect the best technology available for minimizing impingement and entrainment of aquatic species. Estimated capital expenditures of approximately $50 million may be required to comply with the requirements. Xcel Energy anticipates these costs will be recoverable through regulatory mechanisms. Monticello Tritium — Monticello regularly monitors onsite tritium levels (a weak radioactive isotope that is a byproduct of plant operations) from releases in groundwater monitoring wells onsite. In late 2022, Xcel Energy detected a release of tritium to groundwater and reported the event to the NRC and the State of Minnesota. Xcel Energy has completed repairs, replaced the source of the release and is in the process of mitigating the impact to groundwater, while continuing to monitor onsite wells and evaluating potential future actions for additional containment. The release does not represent a risk to human health or the environment. Environmental Requirements — Air Clean Air Act NOx Allowance Allocations — In June 2023, after disapproving state implementation plans, the EPA published final regulations under the "Good Neighbor" provisions of the Clean Air Act. The final rule applies to generation facilities in Minnesota, Texas and Wisconsin, as well as other states outside of our service territory. The rule establishes an allowance trading program for NOx that will impact Xcel Energy fossil fuel-fired electric generating facilities. Applicable facilities will have to secure additional allowances, install NOx controls and/or develop a strategy of operations that utilizes the existing allowance allocations. Guidelines are also established for allowance banking and emission limit backstops. While the financial impacts of the final rule are uncertain and dependent on market forces and anticipated generation, Xcel Energy anticipates the annual costs could be significant, but would be recoverable through regulatory mechanisms. SPS and NSP-Minnesota have joined other impacted companies in litigation challenging the EPA’s disapproval of Texas and Minnesota state implementation plans. Currently, the regulation is under a judicial stay for both Texas and Minnesota and not applicable to SPS and NSP-Minnesota until litigation concludes. Regional Haze Rules — In 2016, the EPA adopted a final rule establishing a federal implementation plan for reasonable further progress under the regional haze program for the state of Texas. The rule imposes SO 2 emission limitations which would require the installation of dry scrubbers on Tolk Units 1 and 2; compliance would have been required by February 2021. SPS appealed the EPA’s decision and obtained a stay of the final rule. In July 2023, the EPA issued a prepublication proposed rule to address the first planning period for the Clean Air Act regional haze reasonable further progress requirements in Texas. As proposed, no additional controls are required at SPS generating facilities. In 2017, the EPA adopted a final BART rule for Texas. Under that rule, Harrington Units 1 and 2 participate in an intrastate SO 2 budget trading program to meet BART requirements. The rule also implemented participation in a federal ozone season NOx budget and trading program, named the Cross State Air Pollution Rule. The EPA has proposed to require installation of SO 2 controls as BART rather than participation in the trading program. For Harrington Units 1 and 2, EPA has alternatively proposed that Harrington may comply with the SO 2 control requirements by agreeing to include the planned January 1, 2025 gas conversion in the federal plan. 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 June 30 (Millions of Dollars) 2023 2022 Operating leases PPA capacity payments $ 61 $ 60 Other operating leases (a) 12 9 Total operating lease expense (b) $ 73 $ 69 Finance leases Amortization of ROU assets $ — $ 1 Interest expense on lease liability 4 4 Total finance lease expense $ 4 $ 5 (a) Includes short-term lease expense of $3 million and $2 million for 2023 and 2022, 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. Six Months Ended June 30 (Millions of Dollars) 2023 2022 Operating leases PPA capacity payments $ 121 $ 123 Other operating leases (a) 24 20 Total operating lease expense (b) $ 145 $ 143 Finance leases Amortization of ROU assets $ 1 $ 2 Interest expense on lease liability 8 8 Total finance lease expense $ 9 $ 10 (a) Includes short-term lease expense of $5 million and $3 million for 2023 and 2022, 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 June 30, 2023: (Millions of Dollars) PPA Operating Other Operating Total Operating Finance Leases (a) Total minimum obligation $ 1,166 $ 250 $ 1,416 $ 222 Interest component of obligation (150) (74) (224) (158) Present value of minimum obligation $ 1,016 176 1,192 64 Less current portion (226) (2) Noncurrent operating and finance lease liabilities $ 966 $ 62 (a) Excludes certain amounts related to Xcel Energy’s 50% ownership interest in WYCO. Variable Interest Entities 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. In addition, certain solar PPAs provide an option to purchase emission allowances or sharing provisions related to production credits generated by the solar facility under contract. These specific PPAs create a variable interest in the IPP. 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 utility subsidiaries had approxi ma tely 4,053 MW an d 3,961 MW of capacity under long-term PPAs at June 30, 2023 and Dec. 31, 2022, respectively, with entities that have been determined to be variable interest entities. The PPAs have expiration dates through 2041. Other Guarantees and Bond Indemnifications — Xcel Energy provides 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 have a stated maximum amount. As of June 30, 2023 and Dec. 31, 2022, Xcel Energy 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 $63 million and $62 million at June 30, 2023 and Dec. 31, 2022, respectively . Other Indemnification Agreements — Xcel Energy provides 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’s 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)	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Other Comprehensive Income (Loss)	Changes in accumulated other comprehensive loss, net of tax : Three Months Ended June 30, 2023 Three Months Ended June 30, 2022 (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 April 1 $ (58) $ (39) $ (97) $ (69) $ (47) $ (116) Other comprehensive gain before reclassifications 13 — 13 11 — 11 Losses reclassified from net accumulated other comprehensive loss: Interest rate derivatives (a) 1 — 1 1 — 1 Amortization of net actuarial loss (b) — 1 1 — 1 1 Net current period other comprehensive income 14 1 15 12 1 13 Accumulated other comprehensive loss at June 30 $ (44) $ (38) $ (82) $ (57) $ (46) $ (103) Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 (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 $ (54) $ (39) $ (93) $ (75) $ (48) $ (123) Other comprehensive gain before reclassifications 8 — 8 16 — 16 Losses reclassified from net accumulated other comprehensive loss: Interest rate derivatives (a) 2 — 2 2 — 2 Amortization of net actuarial loss (b) — 1 1 — 2 2 Net current period other comprehensive income 10 1 11 18 2 20 Accumulated other comprehensive loss at June 30 $ (44) $ (38) $ (82) $ (57) $ (46) $ (103) (a) Included in interest charges.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2023
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 and investments in rental housing projects that qualify for low-income housing tax credits. Xcel Energy had equity method investments of $240 million and $219 million as of June 30, 2023 and Dec. 31, 2022, 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 June 30 (Millions of Dollars) 2023 2022 Regulated Electric Total revenues $ 2,601 $ 2,923 Net income 350 337 Regulated Natural Gas Operating revenues $ 393 $ 476 Intersegment revenue — 1 Total revenues $ 393 $ 477 Net (loss) income (22) 25 All Other Total revenues $ 28 $ 25 Net loss (40) (34) Consolidated Total Total revenues $ 3,022 $ 3,425 Reconciling eliminations — (1) Total operating revenues $ 3,022 $ 3,424 Net income 288 328 Six Months Ended June 30 (Millions of Dollars) 2023 2022 Regulated Electric Total revenues $ 5,364 $ 5,556 Net income 646 615 Regulated Natural Gas Operating revenues $ 1,681 $ 1,566 Intersegment revenue 2 1 Total revenues $ 1,683 $ 1,567 Net income 137 155 All Other Total revenues $ 57 $ 53 Net loss (77) (62) Consolidated Total Total revenues $ 7,104 $ 7,176 Reconciling eliminations (2) (1) Total operating revenues $ 7,102 $ 7,175 Net income 706 708

Selected Balance Sheet Data (Ta

Selected Balance Sheet Data (Tables)	6 Months Ended
	Jun. 30, 2023
Balance Sheet Related Disclosures [Abstract]
Accounts receivable, net	(Millions of Dollars) June 30, 2023 Dec. 31, 2022 Accounts receivable, net Accounts receivable $ 1,232 $ 1,495 Less allowance for bad debts (121) (122) Accounts receivable, net $ 1,111 $ 1,373
Inventories	(Millions of Dollars) June 30, 2023 Dec. 31, 2022 Inventories Materials and supplies $ 354 $ 330 Fuel 199 201 Natural gas 72 272 Total inventories $ 625 $ 803
Property, plant and equipment, net	(Millions of Dollars) June 30, 2023 Dec. 31, 2022 Property, plant and equipment, net Electric plant $ 50,816 $ 49,639 Natural gas plant 8,777 8,514 Common and other property 3,081 2,970 Plant to be retired (a) 2,148 2,217 Construction work in progress 2,541 2,124 Total property, plant and equipment 67,363 65,464 Less accumulated depreciation (18,032) (17,502) Nuclear fuel 3,278 3,183 Less accumulated amortization (2,945) (2,892) Property, plant and equipment, net $ 49,664 $ 48,253

Borrowings and Other Financin_2

Borrowings and Other Financing Instruments (Tables)	6 Months Ended
	Jun. 30, 2023
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 June 30, 2023 Year Ended Dec. 31, 2022 Borrowing limit $ 3,550 $ 3,550 Amount outstanding at period end 544 813 Average amount outstanding 516 552 Maximum amount outstanding 1,078 1,357 Weighted average interest rate, computed on a daily basis 5.26 % 1.47 % Weighted average interest rate at period end 5.32 4.66
Credit Facilities	As of June 30, 2023, 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. $ 1,500 $ 476 $ 1,024 PSCo 700 29 671 NSP-Minnesota 700 15 685 SPS 500 70 430 NSP-Wisconsin 150 — 150 Total $ 3,550 $ 590 $ 2,960 (a) Expires in September 2027. (b) Includes outstanding commercial paper and letters of credit.

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Xcel Energy’s operating revenues consisted of the following: Three Months Ended June 30, 2023 (Millions of Dollars) Electric Natural Gas All Other Total Major revenue types Revenue from contracts with customers: Residential $ 748 $ 216 $ 15 $ 979 C&I 1,337 124 8 1,469 Other 37 — 1 38 Total retail 2,122 340 24 2,486 Wholesale 174 — — 174 Transmission 157 — — 157 Other 4 32 — 36 Total revenue from contracts with customers 2,457 372 24 2,853 Alternative revenue and other 144 21 4 169 Total revenues $ 2,601 $ 393 $ 28 $ 3,022 Three Months Ended June 30, 2022 (Millions of Dollars) Electric Natural Gas All Other Total Major revenue types Revenue from contracts with customers: Residential $ 797 $ 257 $ 6 $ 1,060 C&I 1,416 164 7 1,587 Other 37 — 9 46 Total retail 2,250 421 22 2,693 Wholesale 318 — — 318 Transmission 156 — — 156 Other 12 37 — 49 Total revenue from contracts with customers 2,736 458 22 3,216 Alternative revenue and other 187 18 3 208 Total revenues $ 2,923 $ 476 $ 25 $ 3,424 Six Months Ended June 30, 2023 (Millions of Dollars) Electric Natural Gas All Other Total Major revenue types Revenue from contracts with customers: Residential $ 1,622 $ 1,005 $ 28 $ 2,655 C&I 2,690 547 20 3,257 Other 73 — 2 75 Total retail 4,385 1,552 50 5,987 Wholesale 398 — — 398 Transmission 320 — — 320 Other 13 80 — 93 Total revenue from contracts with customers 5,116 1,632 50 6,798 Alternative revenue and other 248 49 7 304 Total revenues $ 5,364 $ 1,681 $ 57 $ 7,102 Six Months Ended June 30, 2022 (Millions of Dollars) Electric Natural Gas All Other Total Major revenue types Revenue from contracts with customers: Residential $ 1,614 $ 919 $ 15 $ 2,548 C&I 2,651 520 9 3,180 Other 69 — 23 92 Total retail 4,334 1,439 47 5,820 Wholesale 577 — — 577 Transmission 308 — — 308 Other 35 82 — 117 Total revenue from contracts with customers 5,254 1,521 47 6,822 Alternative revenue and other 302 45 6 353 Total revenues $ 5,556 $ 1,566 $ 53 $ 7,175

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Reconciliation between the statutory rate and ETR: Three Months Ended June 30 Six Months Ended June 30 2023 2022 2023 2022 Federal statutory rate 21.0 % 21.0 % 21.0 % 21.0 % State tax (net of federal tax effect) 5.1 5.2 4.9 5.0 (Decreases) increases: Wind PTCs (a) (64.0) (48.3) (44.1) (40.4) Plant regulatory differences (b) (6.3) (5.5) (5.8) (5.1) Other tax credits, net operating loss & tax credits allowances (1.4) (1.4) (1.5) (1.5) Other (net) 1.6 (0.1) 0.5 (0.2) Effective income tax rate (44.0) % (29.1) % (25.0) % (21.2) % (a) Wind PTCs are credited to customers (reduction to revenue) and do not materially impact net income. (b) Plant regulatory differences primarily relate to the credit of excess deferred taxes to customers through the average rate assumption method. Income tax benefits associated with the credit are offset by corresponding revenue reductions.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Jun. 30, 2023
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 June 30 Six Months Ended June 30 (Shares in Millions) 2023 2022 2023 2022 Basic 551 546 551 545 Diluted (a) 552 546 551 546

Fair Value of Financial Asset_2

Fair Value of Financial Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
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: June 30, 2023 Fair Value (Millions of Dollars) Cost Level 1 Level 2 Level 3 NAV Total Nuclear decommissioning fund (a) Cash equivalents $ 35 $ 35 $ — $ — $ — $ 35 Commingled funds 736 — — — 1,061 1,061 Debt securities 780 — 724 8 — 732 Equity securities 508 1,248 2 — — 1,250 Total $ 2,059 $ 1,283 $ 726 $ 8 $ 1,061 $ 3,078 (a) Reported in nuclear decommissioning fund and other investments on the consolidated balance sheets, which also includes $240 million of equity method investments and $138 million of rabbi trust assets and other miscellaneous investments. Dec. 31, 2022 Fair Value (Millions of Dollars) Cost Level 1 Level 2 Level 3 NAV Total Nuclear decommissioning fund (a) Cash equivalents $ 29 $ 29 $ — $ — $ — $ 29 Commingled funds 803 — — — 1,178 1,178 Debt securities 738 — 669 6 — 675 Equity securities 406 999 1 — — 1,000 Total $ 1,976 $ 1,028 $ 670 $ 6 $ 1,178 $ 2,882 (a) Reported in nuclear decommissioning fund and other investments on the consolidated balance sheets, which also includes $219 million of equity investments in unconsolidated subsidiaries and $133 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 June 30, 2023: 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 $ 4 $ 229 $ 259 $ 240 $ 732
Gross Notional Amounts of Commodity Forwards, Options, and FTRs	Gross notional amounts of commodity forwards, options and FTRs: (Amounts in Millions) (a)(b) June 30, 2023 Dec. 31, 2022 Megawatt hours of electricity 93 61 Million British thermal units of natural gas 110 131 (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	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 June 30, 2023 Derivatives designated as cash flow hedges: Interest rate $ 18 $ — Total $ 18 $ — Other derivative instruments: Electric commodity $ — $ (19) Natural gas commodity — — Total $ — $ (19) Six Months Ended June 30, 2023 Derivatives designated as cash flow hedges: Interest rate $ 11 $ — Total $ 11 $ — Other derivative instruments: Electric commodity $ — $ (111) Natural gas commodity — 3 Total $ — $ (108) Three Months Ended June 30, 2022 Derivatives designated as cash flow hedges: Interest rate $ 15 $ — Total $ 15 $ — Other derivative instruments: Electric commodity $ — $ 98 Natural gas commodity — (1) Total $ — $ 97 Six Months Ended June 30, 2022 Derivatives designated as cash flow hedges: Interest rate $ 22 $ — Total $ 22 $ — Other derivative instruments: Electric commodity $ — $ 100 Natural gas commodity — 3 Total $ — $ 103 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 June 30, 2023 Derivatives designated as cash flow hedges: Interest rate $ 1 (a) $ — $ — Total $ 1 $ — $ — Other derivative instruments: Commodity trading $ — $ — $ (6) (b) Electric commodity — 11 (c) — Total $ — $ 11 $ (6) Six Months Ended June 30, 2023 Derivatives designated as cash flow hedges: Interest rate $ 3 (a) $ — $ — Total $ 3 $ — $ — Other derivative instruments: Commodity trading $ — $ — $ (6) (b) Electric commodity — 94 (c) — Natural gas commodity — 10 (d) (19) (d)(e) Total $ — $ 104 $ (25) Three Months Ended June 30, 2022 Derivatives designated as cash flow hedges: Interest rate $ 1 (a) $ — $ — Total $ 1 $ — $ — Other derivative instruments: Commodity trading $ — $ — $ 7 (b) Electric commodity — (26) (c) — Total $ — $ (26) $ 7 Six Months Ended June 30, 2022 Derivatives designated as cash flow hedges: Interest rate $ 3 (a) $ — $ — Total $ 3 $ — $ — Other derivative instruments: Commodity trading $ — $ — $ 9 (b) Electric commodity — (36) (c) — Natural gas commodity — 4 (d) (17) (d)(e) Total $ — $ (32) $ (8) (a) Recorded to interest charges. (b) Recorded to electric revenues. Presented amounts do not reflect non-derivative transactions or margin sharing with customers. (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. FTR settlements are shared with customers and do not have a material impact on net income. Presented amounts reflect changes in fair value between auction and settlement dates, but exclude the original auction fair value. (d) Recorded to cost of natural gas sold and transported. These losses are subject to cost-recovery mechanisms and reclassified out of income to a regulatory asset, as appropriate. (e) Relates primarily to option premium amortization.
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	June 30, 2023 Dec. 31, 2022 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 $ — $ 8 $ — $ 8 $ — $ 8 $ — $ — $ — $ — $ — $ — Other derivative instruments: Commodity trading $ 10 $ 134 $ 34 $ 178 $ (116) $ 62 $ 32 $ 259 $ 33 $ 324 $ (242) $ 82 Electric commodity — — 158 158 (2) 156 — — 177 177 (2) 175 Natural gas commodity — 4 — 4 — 4 — 19 — 19 — 19 Total current derivative assets $ 10 $ 146 $ 192 $ 348 $ (118) 230 $ 32 $ 278 $ 210 $ 520 $ (244) 276 PPAs (b) 3 3 Current derivative instruments $ 233 $ 279 Noncurrent derivative assets Other derivative instruments: Commodity trading $ 19 $ 53 $ 68 $ 140 $ (62) $ 78 $ 34 $ 71 $ 74 $ 179 $ (89) $ 90 Total noncurrent derivative assets $ 19 $ 53 $ 68 $ 140 $ (62) 78 $ 34 $ 71 $ 74 $ 179 $ (89) 90 PPAs (b) 2 3 Noncurrent derivative instruments $ 80 $ 93 June 30, 2023 Dec. 31, 2022 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 Derivatives designated as cash flow hedges: Interest rate $ — $ — $ — $ — $ — $ — $ — $ 1 $ — $ 1 $ — $ 1 Other derivative instruments: Commodity trading $ 9 $ 168 $ 6 $ 183 $ (135) $ 48 $ 29 $ 297 $ 6 $ 332 $ (287) $ 45 Electric commodity — — 2 2 (2) — — — 2 2 (2) — Natural gas commodity — — — — — — — 13 — 13 — 13 Total current derivative liabilities $ 9 $ 168 $ 8 $ 185 $ (137) 48 $ 29 $ 311 $ 8 $ 348 $ (289) 59 PPAs (b) 17 17 Current derivative instruments $ 65 $ 76 Noncurrent derivative liabilities Other derivative instruments: Commodity trading $ 22 $ 70 $ 43 $ 135 $ (62) $ 73 $ 43 $ 97 $ 41 $ 181 $ (98) $ 83 Total noncurrent derivative liabilities $ 22 $ 70 $ 43 $ 135 $ (62) 73 $ 43 $ 97 $ 41 $ 181 $ (98) 83 PPAs (b) 26 30 Noncurrent derivative instruments $ 99 $ 113 (a) Xcel Energy nets derivative instruments and related collateral on its consolidated balance sheets when supported by a legally enforceable master netting agreement. At June 30, 2023 and Dec. 31, 2022, derivative assets and liabilities include no obligations to return cash collateral. At June 30, 2023 and Dec. 31, 2022, derivative assets and liabilities include rights to reclaim cash collateral of $19 million and $53 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) Xcel Energy currently applies the normal purchase exception to qualifying PPAs. Balance relates to specific contracts that were previously recognized at fair value prior to applying the normal purchase exception, and are 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 June 30 (Millions of Dollars) 2023 2022 Balance at April 1 $ 78 $ 39 Purchases (a) 167 390 Settlements (a) (47) (155) Net transactions recorded during the period: Gains recognized in earnings (b) 10 78 Net gains recognized as regulatory assets and liabilities (a) 1 133 Balance at June 30 $ 209 $ 485 Six Months Ended June 30 (Millions of Dollars) 2023 2022 Balance at Jan. 1 $ 235 $ 19 Purchases (a) 172 394 Settlements (a) (76) (181) Net transactions recorded during the period: (Losses) gains recognized in earnings (b) (2) 120 Net (losses) gains recognized as regulatory assets and liabilities (a) (120) 133 Balance at June 30 $ 209 $ 485 (a) Relates primarily to NSP-Minnesota and SPS FTR instruments administered by MISO and SPP. (b) Relates to commodity trading and is subject to substantial offsetting losses and gains on derivative instruments categorized as levels 1 and 2 in the income statement. See above tables for the income statement impact of derivative activity, including commodity trading gains and losses.
Carrying Amount and Fair Value of Long-term Debt	June 30, 2023 Dec. 31, 2022 (Millions of Dollars) Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt, including current portion $ 25,066 $ 21,855 $ 23,964 $ 20,897

Benefit Plans and Other Postr_2

Benefit Plans and Other Postretirement Benefits (Tables)	6 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost (Credit)	Components of Net Periodic Benefit Cost (Credit) Three Months Ended June 30 2023 2022 2023 2022 (Millions of Dollars) Pension Benefits Postretirement Health Service cost $ 18 $ 25 $ — $ 1 Interest cost (a) 40 28 5 4 Expected return on plan assets (a) (52) (52) (4) (5) Amortization of prior service credit (a) — (1) — (1) Amortization of net loss (a) 5 18 1 — Net periodic benefit cost (credit) 11 18 2 (1) Effects of regulation 7 1 — — Net benefit cost (credit) recognized for financial reporting $ 18 $ 19 $ 2 $ (1) Six Months Ended June 30 2023 2022 2023 2022 (Millions of Dollars) Pension Benefits Postretirement Health Service cost $ 37 $ 49 $ — $ 1 Interest cost (a) 80 55 11 8 Expected return on plan assets (a) (105) (104) (9) (9) Amortization of prior service credit (a) (1) (1) — (3) Amortization of net loss (a) 11 37 1 1 Settlement charge (b) — (1) — — Net periodic benefit cost (credit) 22 35 3 (2) Effects of regulation 14 6 — 1 Net benefit cost (credit) recognized for financial reporting $ 36 $ 41 $ 3 $ (1) (a) The components of net periodic cost other than the service cost component are included in the line item “Other income, net” in the consolidated statements of income or capitalized on the consolidated balance sheets as a regulatory asset. (b) In the six months ended June 30, 2022, Xcel Energy recognized $1 million in settlement charge true-ups related to the fourth quarter of 2021.

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Finance Lease, Liability, Fiscal Year Maturity	Commitments under operating and finance leases as of June 30, 2023: (Millions of Dollars) PPA Operating Other Operating Total Operating Finance Leases (a) Total minimum obligation $ 1,166 $ 250 $ 1,416 $ 222 Interest component of obligation (150) (74) (224) (158) Present value of minimum obligation $ 1,016 176 1,192 64 Less current portion (226) (2) Noncurrent operating and finance lease liabilities $ 966 $ 62 (a) Excludes certain amounts related to Xcel Energy’s 50% ownership interest in WYCO.
Lease, Cost	Components of lease expense: Three Months Ended June 30 (Millions of Dollars) 2023 2022 Operating leases PPA capacity payments $ 61 $ 60 Other operating leases (a) 12 9 Total operating lease expense (b) $ 73 $ 69 Finance leases Amortization of ROU assets $ — $ 1 Interest expense on lease liability 4 4 Total finance lease expense $ 4 $ 5 (a) Includes short-term lease expense of $3 million and $2 million for 2023 and 2022, 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. Six Months Ended June 30 (Millions of Dollars) 2023 2022 Operating leases PPA capacity payments $ 121 $ 123 Other operating leases (a) 24 20 Total operating lease expense (b) $ 145 $ 143 Finance leases Amortization of ROU assets $ 1 $ 2 Interest expense on lease liability 8 8 Total finance lease expense $ 9 $ 10 (a) Includes short-term lease expense of $5 million and $3 million for 2023 and 2022, respectively.

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Changes in Accumulated Other Comprehensive Income (Loss), Net of Tax	Changes in accumulated other comprehensive loss, net of tax : Three Months Ended June 30, 2023 Three Months Ended June 30, 2022 (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 April 1 $ (58) $ (39) $ (97) $ (69) $ (47) $ (116) Other comprehensive gain before reclassifications 13 — 13 11 — 11 Losses reclassified from net accumulated other comprehensive loss: Interest rate derivatives (a) 1 — 1 1 — 1 Amortization of net actuarial loss (b) — 1 1 — 1 1 Net current period other comprehensive income 14 1 15 12 1 13 Accumulated other comprehensive loss at June 30 $ (44) $ (38) $ (82) $ (57) $ (46) $ (103) Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 (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 $ (54) $ (39) $ (93) $ (75) $ (48) $ (123) Other comprehensive gain before reclassifications 8 — 8 16 — 16 Losses reclassified from net accumulated other comprehensive loss: Interest rate derivatives (a) 2 — 2 2 — 2 Amortization of net actuarial loss (b) — 1 1 — 2 2 Net current period other comprehensive income 10 1 11 18 2 20 Accumulated other comprehensive loss at June 30 $ (44) $ (38) $ (82) $ (57) $ (46) $ (103) (a) Included in interest charges.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Results from Operations by Reportable Segment	Xcel Energy’s segment information: Three Months Ended June 30 (Millions of Dollars) 2023 2022 Regulated Electric Total revenues $ 2,601 $ 2,923 Net income 350 337 Regulated Natural Gas Operating revenues $ 393 $ 476 Intersegment revenue — 1 Total revenues $ 393 $ 477 Net (loss) income (22) 25 All Other Total revenues $ 28 $ 25 Net loss (40) (34) Consolidated Total Total revenues $ 3,022 $ 3,425 Reconciling eliminations — (1) Total operating revenues $ 3,022 $ 3,424 Net income 288 328 Six Months Ended June 30 (Millions of Dollars) 2023 2022 Regulated Electric Total revenues $ 5,364 $ 5,556 Net income 646 615 Regulated Natural Gas Operating revenues $ 1,681 $ 1,566 Intersegment revenue 2 1 Total revenues $ 1,683 $ 1,567 Net income 137 155 All Other Total revenues $ 57 $ 53 Net loss (77) (62) Consolidated Total Total revenues $ 7,104 $ 7,176 Reconciling eliminations (2) (1) Total operating revenues $ 7,102 $ 7,175 Net income 706 708

Selected Balance Sheet Data Sel

Selected Balance Sheet Data Selected Balance Sheet Data, Accounts Receivable (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Accounts receivable	$ 1,232	$ 1,495
Less allowance for bad debts	(121)	(122)
Accounts receivable, net	$ 1,111	$ 1,373

Selected Balance Sheet Data S_2

Selected Balance Sheet Data Selected Balance Sheet Data, Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Public Utilities, Inventory [Line Items]
Total inventories	$ 625	$ 803
Materials and supplies
Public Utilities, Inventory [Line Items]
Inventories	354	330
Fuel
Public Utilities, Inventory [Line Items]
Inventories	199	201
Natural gas
Public Utilities, Inventory [Line Items]
Inventories	$ 72	$ 272

Selected Balance Sheet Data, Pr

Selected Balance Sheet Data, Property, Plant and Equipment, Net (Details) - USD ($) $ in Millions		Jun. 30, 2023	Dec. 31, 2022
Public Utility, Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		$ 67,363	$ 65,464
Less accumulated depreciation and amortization		(18,032)	(17,502)
Property, plant and equipment, net		49,664	48,253
Electric plant
Public Utility, Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		50,816	49,639
Natural gas plant
Public Utility, Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		8,777	8,514
Common and other property
Public Utility, Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		3,081	2,970
Plant to be retired
Public Utility, Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	[1]	2,148	2,217
Construction work in progress
Public Utility, Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		2,541	2,124
Nuclear fuel
Public Utility, Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		3,278	3,183
Less accumulated depreciation and amortization		$ (2,945)	$ (2,892)
[1]Amounts include Sherco Units 1, 2 and 3 and A.S. King for NSP-Minnesota; Comanche Units 2 and 3, Craig Units 1 and 2, Hayden Units 1 and 2 and coal generation assets at Pawnee pending facility gas conversion for PSCo; and Tolk and coal generation assets at Harrington pending facility gas conversion for SPS. Amounts are presented net of accumulated depreciation.

Short-Term Debt (Details)

Short-Term Debt (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Short-term Debt [Line Items]
Amount outstanding at period end	$ 544	$ 813
Commercial Paper
Short-term Debt [Line Items]
Borrowing limit	3,550	3,550
Amount outstanding at period end	544	813
Average amount outstanding	516	552
Maximum amount outstanding	$ 1,078	$ 1,357
Weighted average interest rate, computed on a daily basis	5.26%	1.47%
Weighted average interest rate at period end	5.32%	4.66%

Letters of Credit (Details)

Letters of Credit (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Line of Credit Facility [Line Items]
Amount outstanding at period end	$ 544	$ 813
Letter of Credit
Line of Credit Facility [Line Items]
Debt Instrument, Term	1 year
Amount outstanding at period end	$ 46	$ 43

Borrowings and Other Financin_3

Borrowings and Other Financing Instruments Revolving Credit Facilities (Details) - Revolving Credit Facility [Member] - USD ($) $ in Millions		Jun. 30, 2023	Dec. 31, 2022
Line of Credit Facility [Line Items]
Credit Facility	[1]	$ 3,550
Outstanding	[2]	590
Available		2,960
Direct advances on the credit facility outstanding		0	$ 0
PSCo
Line of Credit Facility [Line Items]
Credit Facility	[1]	700
Outstanding	[2]	29
Available		671
NSP-Minnesota
Line of Credit Facility [Line Items]
Credit Facility	[1]	700
Outstanding	[2]	15
Available		685
SPS
Line of Credit Facility [Line Items]
Credit Facility	[1]	500
Outstanding	[2]	70
Available		430
NSP-Wisconsin
Line of Credit Facility [Line Items]
Credit Facility	[1]	150
Outstanding	[2]	0
Available		150
Xcel Energy Inc.
Line of Credit Facility [Line Items]
Credit Facility	[1]	1,500
Outstanding	[2]	476
Available		$ 1,024
[1]Expires in September 2027.[2]Includes outstanding commercial paper and letters of credit.

Borrowings and Other Financin_4

Borrowings and Other Financing Instruments Term Loan (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Short-term Debt [Line Items]
Amount outstanding at period end	$ 544		$ 813
Proceeds from issuance of common stock	75	$ 151
Letter of Credit
Short-term Debt [Line Items]
Amount outstanding at period end	$ 46		$ 43

Borrowings and Other Financin_5

Borrowings and Other Financing Instruments Bilateral Credit Agreement (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Short-term Debt [Line Items]
Amount outstanding at period end	$ 544	$ 813
Letter of Credit
Short-term Debt [Line Items]
Debt Instrument, Term	1 year
Amount outstanding at period end	$ 46	$ 43
Bilateral Credit Agreement [Member] | NSP-Minnesota | Letter of Credit
Short-term Debt [Line Items]
Debt Instrument, Term	1 year
Amount outstanding at period end	$ 57
Credit Facility	$ 75

Borrowings and Other Financin_6

Borrowings and Other Financing Instruments Long-Term Borrowings (Details) - Bonds [Member] $ in Millions	Jun. 30, 2023 USD ($)
PSCo | Series Due April 1, 2053
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 850
Debt Instrument, Interest Rate, Stated Percentage	5.25%
NSP-Wisconsin | Series Due April 1, 2052
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 125
Debt Instrument, Interest Rate, Stated Percentage	5.30%
NSP-Minnesota | Series Due May 15, 2053
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 800
NSP-Minnesota | Series Due May 15, 2023
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.10%

Borrowings and Other Financin_7

Borrowings and Other Financing Instruments Equity through DRIP and Benefits Program (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Forward Contract Indexed to Issuer's Equity [Line Items]
Proceeds from issuance of common stock			$ 75	$ 151
Issuances of common stock	$ 77	$ 159	95	171
Dividend Reinvestment Program
Forward Contract Indexed to Issuer's Equity [Line Items]
Proceeds from issuance of common stock			$ 61	$ 45

ATM Program (Details)

ATM Program (Details) - USD ($) shares in Thousands, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
ATM [Line Items]
ATM Total Shares	$ 62	$ 300	$ 350
ATM Shares Issued	900	4,300	5,330
ATM Shares Remaining	88,000
ATM Program Total Available Shares			$ 800

Revenues (Details)

Revenues (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 2,486	$ 2,693	$ 5,987	$ 5,820
Wholesale
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	174	318	398	577
Transmission
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	157	156	320	308
Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	36	49	93	117
Total revenue from contracts with customers
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,853	3,216	6,798	6,822
Alternative revenue and other
Disaggregation of Revenue [Line Items]
Alternative revenue and other	169	208	304	353
Residential | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	979	1,060	2,655	2,548
C&I | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,469	1,587	3,257	3,180
Other | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	38	46	75	92
Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	3,022	3,424	7,102	7,175
Regulated Electric | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,122	2,250	4,385	4,334
Regulated Electric | Wholesale
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	174	318	398	577
Regulated Electric | Transmission
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	157	156	320	308
Regulated Electric | Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	4	12	13	35
Regulated Electric | Total revenue from contracts with customers
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,457	2,736	5,116	5,254
Regulated Electric | Alternative revenue and other
Disaggregation of Revenue [Line Items]
Alternative revenue and other	144	187	248	302
Regulated Electric | Residential | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	748	797	1,622	1,614
Regulated Electric | C&I | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,337	1,416	2,690	2,651
Regulated Electric | Other | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	37	37	73	69
Regulated Electric | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	2,601	2,923	5,364	5,556
Regulated Natural Gas | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	340	421	1,552	1,439
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	32	37	80	82
Regulated Natural Gas | Total revenue from contracts with customers
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	372	458	1,632	1,521
Regulated Natural Gas | Alternative revenue and other
Disaggregation of Revenue [Line Items]
Alternative revenue and other	21	18	49	45
Regulated Natural Gas | Residential | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	216	257	1,005	919
Regulated Natural Gas | C&I | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	124	164	547	520
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	393	476	1,681	1,566
All Other | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	24	22	50	47
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	24	22	50	47
All Other | Alternative revenue and other
Disaggregation of Revenue [Line Items]
Alternative revenue and other	4	3	7	6
All Other | Residential | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	15	6	28	15
All Other | C&I | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	8	7	20	9
All Other | Other | Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1	9	2	23
All Other | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	$ 28	$ 25	$ 57	$ 53

Income Taxes (Details)

Income Taxes (Details)		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Federal statutory rate		21%	21%	21%	21%
State tax (net of federal tax effect)		5.10%	5.20%	4.90%	5%
Effective Income Tax Rate Reconciliation, Tax Credit, Percent	[1]	(64.00%)	(48.30%)	(44.10%)	(40.40%)
Plant regulatory differences (b)	[2]	(6.30%)	(5.50%)	(5.80%)	(5.10%)
Effective Income Tax Rate Reconciliation, Net Operating Loss Carryback, Percent		(1.40%)	(1.40%)	(1.50%)	(1.50%)
Other (net)		1.60%	(0.10%)	0.50%	(0.20%)
Effective income tax rate		(44.00%)	(29.10%)	(25.00%)	(21.20%)
[1]Wind PTCs are credited to customers (reduction to revenue) and do not materially impact net income[2]Plant regulatory differences primarily relate to the credit of excess deferred taxes to customers through the average rate assumption method. Income tax benefits associated with the credit are offset by corresponding revenue reductions.

Common Stock Equivalents (Detai

Common Stock Equivalents (Details) - shares shares in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Weighted Average Number of Shares Outstanding, Basic		551,000	546,000	551,000	545,000
Diluted (in shares)	[1]	552,000	546,000	551,000	546,000
Dilutive Effect of Contingently Issuable Shares		300		200	200
[1]Diluted common shares outstanding included common stock equivalents of 0.3 million for the three months ended June 30, 2023 and 2022, respectively. Diluted common shares outstanding included common stock equivalents of 0.2 million for the six months ended June 30, 2023 and 2022, respectively.

Non-Derivative Fair Value Measu

Non-Derivative Fair Value Measurements (Details) - USD ($) $ in Millions		6 Months Ended		12 Months Ended
		Jun. 30, 2023		Dec. 31, 2022
Nuclear decommissinoning fund [Abstract]
Equity investments in unconsolidated subsidiaries		$ 240		$ 219
Miscellaneous investments		138		133
Debt Securities, Available-for-sale, Unrealized Gain		1,000
Debt Securities, Available-for-sale, Unrealized Loss		68		90
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract]
Due in one year or less		4
Due in 1 to 5 years		229
Due in 5 to 10 years		259
Due after 10 years		240
Total		732
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Unrealized Gain		1,000
Debt Securities, Available-for-sale, Unrealized Loss		68		90
Interest Rate Swap
Nuclear decommissinoning fund [Abstract]
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net		2
Fair Value Measured on a Recurring Basis | Cost
Nuclear decommissinoning fund [Abstract]
Decommissioning Fund Investments		2,059	[1]	1,976	[2]
Fair Value Measured on a Recurring Basis | Cost | Cash equivalents
Nuclear decommissinoning fund [Abstract]
Cash equivalents		35	[1]	29	[2]
Fair Value Measured on a Recurring Basis | Cost | Commingled funds
Nuclear decommissinoning fund [Abstract]
Alternative investment	[2]			803
Investments, Fair Value Disclosure	[1]	736
Fair Value Measured on a Recurring Basis | Cost | Debt securities
Nuclear decommissinoning fund [Abstract]
Debt securities		780	[1]	738	[2]
Fair Value Measured on a Recurring Basis | Cost | Equity securities
Nuclear decommissinoning fund [Abstract]
Equity Securities, FV-NI		508	[1]	406	[2]
Fair Value Measured on a Recurring Basis | Fair Value
Nuclear decommissinoning fund [Abstract]
Alternative investment		1,061	[1]	1,178	[2]
Decommissioning Fund Investments		3,078	[1]	2,882	[2]
Fair Value Measured on a Recurring Basis | Fair Value | Cash equivalents
Nuclear decommissinoning fund [Abstract]
Cash equivalents		35	[1]	29	[2]
Alternative investment		0	[1]	0	[2]
Fair Value Measured on a Recurring Basis | Fair Value | Commingled funds
Nuclear decommissinoning fund [Abstract]
Alternative investment		1,061	[1]	1,178	[2]
Investments, Fair Value Disclosure		1,061
Fair Value Measured on a Recurring Basis | Fair Value | Debt securities
Nuclear decommissinoning fund [Abstract]
Debt securities		732	[1]	675	[2]
Alternative investment		0	[1]	0	[2]
Fair Value Measured on a Recurring Basis | Fair Value | Equity securities
Nuclear decommissinoning fund [Abstract]
Equity Securities, FV-NI		1,250	[1]	1,000	[2]
Alternative investment		0	[1]	0	[2]
Fair Value Measured on a Recurring Basis | Fair Value | Level 1
Nuclear decommissinoning fund [Abstract]
Decommissioning Fund Investments		1,283	[1]	1,028	[2]
Fair Value Measured on a Recurring Basis | Fair Value | Level 1 | Cash equivalents
Nuclear decommissinoning fund [Abstract]
Cash equivalents		35	[1]	29	[2]
Fair Value Measured on a Recurring Basis | Fair Value | Level 1 | Commingled funds
Nuclear decommissinoning fund [Abstract]
Alternative investment	[2]			0
Investments, Fair Value Disclosure	[1]	0
Fair Value Measured on a Recurring Basis | Fair Value | Level 1 | Debt securities
Nuclear decommissinoning fund [Abstract]
Debt securities		0	[1]	0	[2]
Fair Value Measured on a Recurring Basis | Fair Value | Level 1 | Equity securities
Nuclear decommissinoning fund [Abstract]
Equity Securities, FV-NI		1,248	[1]	999	[2]
Fair Value Measured on a Recurring Basis | Fair Value | Level 2
Nuclear decommissinoning fund [Abstract]
Decommissioning Fund Investments		726	[1]	670	[2]
Fair Value Measured on a Recurring Basis | Fair Value | Level 2 | Cash equivalents
Nuclear decommissinoning fund [Abstract]
Cash equivalents		0	[1]	0	[2]
Fair Value Measured on a Recurring Basis | Fair Value | Level 2 | Commingled funds
Nuclear decommissinoning fund [Abstract]
Alternative investment	[2]			0
Investments, Fair Value Disclosure	[1]	0
Fair Value Measured on a Recurring Basis | Fair Value | Level 2 | Debt securities
Nuclear decommissinoning fund [Abstract]
Debt securities		724	[1]	669	[2]
Fair Value Measured on a Recurring Basis | Fair Value | Level 2 | Equity securities
Nuclear decommissinoning fund [Abstract]
Equity Securities, FV-NI		2	[1]	1	[2]
Fair Value Measured on a Recurring Basis | Fair Value | Level 3
Nuclear decommissinoning fund [Abstract]
Decommissioning Fund Investments		8	[1]	6	[2]
Fair Value Measured on a Recurring Basis | Fair Value | Level 3 | Cash equivalents
Nuclear decommissinoning fund [Abstract]
Cash equivalents		0	[1]	0	[2]
Fair Value Measured on a Recurring Basis | Fair Value | Level 3 | Commingled funds
Nuclear decommissinoning fund [Abstract]
Alternative investment	[2]			0
Investments, Fair Value Disclosure	[1]	0
Fair Value Measured on a Recurring Basis | Fair Value | Level 3 | Debt securities
Nuclear decommissinoning fund [Abstract]
Debt securities		8	[1]	6	[2]
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 $240 million of equity method investments and $138 million of rabbi trust assets and other miscellaneous investments.[2]Reported in nuclear decommissioning fund and other investments on the consolidated balance sheets, which also includes $219 million of equity investments in unconsolidated subsidiaries and $133 million of rabbi trust assets and other miscellaneous investments.

Rabbi Trust (Details)

Rabbi Trust (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Rabbi Trust [Member] | Fair Value, Measured on a Recurring Basis | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Rabbi Trusts Assets at Fair Value	$ 84	$ 80

Interest Rate Derivatives (Deta

Interest Rate Derivatives (Details) - USD ($) $ in Millions		Jun. 30, 2023	Dec. 31, 2022
Derivative [Line Items]
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]		Prepayments and other	Prepayments and other
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]		Other Assets, Noncurrent	Other Assets, Noncurrent
Fair Value, Measured on a Recurring Basis
Derivative [Line Items]
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]		Prepayments and other	Prepayments and other
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]		Other Assets, Noncurrent	Other Assets, Noncurrent
Other Current Assets | Fair Value, Measured on a Recurring Basis
Derivative [Line Items]
Derivative Asset, Gross		$ 348	$ 520
Netting	[1]	118	244
Other Current Assets | Level 1 | Fair Value, Measured on a Recurring Basis
Derivative [Line Items]
Derivative Asset, Gross		10	32
Other Current Assets | Level 2 | Fair Value, Measured on a Recurring Basis
Derivative [Line Items]
Derivative Asset, Gross		146	278
Other Current Assets | Level 3 | Fair Value, Measured on a Recurring Basis
Derivative [Line Items]
Derivative Asset, Gross		192	210
Other Noncurrent Assets | Fair Value, Measured on a Recurring Basis
Derivative [Line Items]
Derivative Asset, Gross		140	179
Netting	[1]	62	89
Other Noncurrent Assets | Level 1 | Fair Value, Measured on a Recurring Basis
Derivative [Line Items]
Derivative Asset, Gross		19	34
Other Noncurrent Assets | Level 2 | Fair Value, Measured on a Recurring Basis
Derivative [Line Items]
Derivative Asset, Gross		53	71
Other Noncurrent Assets | Level 3 | Fair Value, Measured on a Recurring Basis
Derivative [Line Items]
Derivative Asset, Gross		$ 68	$ 74
Commodity Trading | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments
Derivative [Line Items]
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]		Prepayments and other	Prepayments and other
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]		Other Assets, Noncurrent	Other Assets, Noncurrent
Commodity Trading | Other Current Assets | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments
Derivative [Line Items]
Derivative Asset, Gross		$ 178	$ 324
Netting	[1]	116	242
Commodity Trading | Other Current Assets | Level 1 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments
Derivative [Line Items]
Derivative Asset, Gross		10	32
Commodity Trading | Other Current Assets | Level 2 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments
Derivative [Line Items]
Derivative Asset, Gross		134	259
Commodity Trading | Other Current Assets | Level 3 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments
Derivative [Line Items]
Derivative Asset, Gross		34	33
Commodity Trading | Other Noncurrent Assets | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments
Derivative [Line Items]
Derivative Asset, Gross		140	179
Netting	[1]	62	89
Commodity Trading | Other Noncurrent Assets | Level 1 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments
Derivative [Line Items]
Derivative Asset, Gross		19	34
Commodity Trading | Other Noncurrent Assets | Level 2 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments
Derivative [Line Items]
Derivative Asset, Gross		53	71
Commodity Trading | Other Noncurrent Assets | Level 3 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments
Derivative [Line Items]
Derivative Asset, Gross		$ 68	$ 74
Electric Commodity | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments
Derivative [Line Items]
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]		Prepayments and other	Prepayments and other
Electric Commodity | Other Current Assets | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments
Derivative [Line Items]
Derivative Asset, Gross		$ 158	$ 177
Netting	[1]	2	2
Electric Commodity | Other Current Assets | Level 1 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments
Derivative [Line Items]
Derivative Asset, Gross		0	0
Electric Commodity | Other Current Assets | Level 2 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments
Derivative [Line Items]
Derivative Asset, Gross		0	0
Electric Commodity | Other Current Assets | Level 3 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments
Derivative [Line Items]
Derivative Asset, Gross		158	177
Interest Rate Swap
Derivative [Line Items]
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net		2
Derivative Liability, Notional Amount		345
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net		2
Interest Rate | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments
Derivative [Line Items]
Derivative Asset, Net		8	0
Interest Rate | Other Current Assets | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments
Derivative [Line Items]
Derivative Asset, Gross		8	0
Netting		0	0
Interest Rate | Other Current Assets | Level 1 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments
Derivative [Line Items]
Derivative Asset, Gross		0	0
Interest Rate | Other Current Assets | Level 2 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments
Derivative [Line Items]
Derivative Asset, Gross		8	0
Interest Rate | Other Current Assets | Level 3 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments
Derivative [Line Items]
Derivative Asset, Gross		$ 0	$ 0
PPAs | Fair Value, Measurements, Nonrecurring
Derivative [Line Items]
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	[2]	Prepayments and other	Prepayments and other
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]	[2]	Other Assets, Noncurrent	Other Assets, Noncurrent
Natural Gas Commodity | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments
Derivative [Line Items]
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]		Prepayments and other	Prepayments and other
Natural Gas Commodity | Other Current Assets | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments
Derivative [Line Items]
Derivative Asset, Gross		$ 4	$ 19
Netting	[1]	0	0
Natural Gas Commodity | Other Current Assets | Level 1 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments
Derivative [Line Items]
Derivative Asset, Gross		0	0
Natural Gas Commodity | Other Current Assets | Level 2 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments
Derivative [Line Items]
Derivative Asset, Gross		4	19
Natural Gas Commodity | Other Current Assets | Level 3 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments
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. At June 30, 2023 and Dec. 31, 2022, derivative assets and liabilities include no obligations to return cash collateral. At June 30, 2023 and Dec. 31, 2022, derivative assets and liabilities include rights to reclaim cash collateral of $19 million and $53 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.[2]Xcel Energy currently applies the normal purchase exception to qualifying PPAs. Balance relates to specific contracts that were previously recognized at fair value prior to applying the normal purchase exception, and are being amortized over the remaining contract lives along with the offsetting regulatory assets and liabilities.

Commodity Derivatives (Details)

Commodity Derivatives (Details) MWh in Millions, MMBTU in Millions, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2023 USD ($) MMBTU MWh	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) MMBTU MWh	Jun. 30, 2022 USD ($)	Dec. 31, 2022 MMBTU MWh
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		$ (19)	$ 97	$ (108)	$ 103
Electric Commodity [Member]
Gross Notional Amounts of Commodity Forwards, Options and FTRs [Abstract]
Derivative, Nonmonetary Notional Amount | MWh	[1],[2]	93		93		61
Cash Flow Hedges
Gross Notional Amounts of Commodity Forwards, Options and FTRs [Abstract]
Derivative Instruments in Hedges, at Fair Value, Net		$ 0		$ 0
Natural Gas Commodity
Gross Notional Amounts of Commodity Forwards, Options and FTRs [Abstract]
Derivative, Nonmonetary Notional Amount | MMBTU	[1],[2]	110		110		131
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		$ 0	$ (1)	$ 3	$ 3
[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) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2023 USD ($) Counterparty	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) Counterparty	Jun. 30, 2022 USD ($)
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		(19)	97	(108)	103
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)		11	(26)	104	(32)
Pre-tax gains (losses) recognized during the period in income		(6)	7	(25)	(8)
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		(19)	98	(111)	100
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]	11	(26)	94	(36)
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		0	(1)	3	3
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]			10	4
Pre-tax gains (losses) recognized during the period in income	[2],[3]			(19)	(17)
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	[4]	(6)	7	(6)	9
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		18	15	11	22
Pre-tax fair value gains (losses) recognized during the period in regulatory (assets) and liabilities		0	0	0	0
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net		1	1	3	3
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		18	15	11	22
Pre-tax fair value gains (losses) recognized during the period in regulatory (assets) and liabilities		0	0	0	0
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	[5]	1	1	3	3
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		7		7
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		5		5
Wholesale, trading and non-trading commodity credit exposure for the most significant counterparties		$ 68		$ 68
Percentage of wholesale, trading and non-trading commodity credit exposure for the most significant counterparties (in hundredths)		29%		29%
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		3		3
Wholesale, trading and non-trading commodity credit exposure for the most significant counterparties		$ 55		$ 55
Percentage of wholesale, trading and non-trading commodity credit exposure for the most significant counterparties (in hundredths)		24%		24%
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		$ 58		$ 58
Percentage of wholesale, trading and non-trading commodity credit exposure for the most significant counterparties (in hundredths)		25%		25%
[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. FTR settlements are shared with customers and do not have a material impact on net income. Presented amounts reflect changes in fair value between auction and settlement dates, but exclude the original auction fair value.[2]Recorded to cost of natural gas sold and transported. These losses are subject to cost-recovery mechanisms and reclassified out of income to a regulatory asset, as appropriate.[3]Relates primarily to option premium amortization.[4]Recorded to electric revenues. Presented amounts do not reflect non-derivative transactions or margin sharing with customers.[5]Recorded to interest charges.

Credit Related Contingent Featu

Credit Related Contingent Features (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Derivative, Gross Liability Position, Aggregate Fair Value	$ 10	$ 4
Derivative, Gross Liability with Cross Default Position, Aggregate Fair Value	88	76
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		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Current		Other Liabilities, Current		Other Liabilities, Current
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Noncurrent		Other Liabilities, Noncurrent		Other Liabilities, Noncurrent
Return Cash Collateral		$ 0		$ 0		$ 0
Reclaim Cash Collateral		19		19		53
Commodity Trading
Changes in Level 3 Commodity Derivatives [Roll Forward]
Balance at beginning of period		78	$ 39	235	$ 19
Purchases	[1]	167	390	172	394
Settlements	[1]	(47)	(155)	(76)	(181)
Gains (losses) recognized in earnings	[2]	10	78	(2)	120
Net gains recognized as regulatory assets and liabilities (a)	[1]	1	133	(120)	133
Balance at end of period		209	$ 485	209	$ 485
Fair Value Measured on a Recurring Basis
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		185		185		348
Netting	[3]	$ (137)		$ (137)		$ (289)
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Current		Other Liabilities, Current		Other Liabilities, Current
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Noncurrent		Other Liabilities, Noncurrent		Other Liabilities, Noncurrent
Fair Value Measured on a Recurring Basis | Level 1
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		$ 9		$ 9		$ 29
Fair Value Measured on a Recurring Basis | Level 2
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		168		168		311
Fair Value Measured on a Recurring Basis | Level 3
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		8		8		8
Fair Value Measured on a Recurring Basis | Other Derivative Instruments | Commodity Trading
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		183		183		332
Netting	[3]	$ (135)		$ (135)		$ (287)
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Current		Other Liabilities, Current		Other Liabilities, Current
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Noncurrent		Other Liabilities, Noncurrent		Other Liabilities, Noncurrent
Fair Value Measured on a Recurring Basis | Other Derivative Instruments | Electric Commodity
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		$ 2		$ 2		$ 2
Netting	[3]	$ (2)		$ (2)		$ (2)
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Current		Other Liabilities, Current		Other Liabilities, Current
Fair Value Measured on a Recurring Basis | Other Derivative Instruments | Natural Gas Commodity
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		$ 0		$ 0		$ 13
Netting	[3]	$ 0		$ 0		$ 0
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Current		Other Liabilities, Current		Other Liabilities, Current
Fair Value Measured on a Recurring Basis | Other Derivative Instruments | Level 1 | Commodity Trading
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		$ 9		$ 9		$ 29
Fair Value Measured on a Recurring Basis | 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 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 Derivative Instruments | Level 2 | Commodity Trading
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		168		168		297
Fair Value Measured on a Recurring Basis | 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 Derivative Instruments | Level 2 | Natural Gas Commodity
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		0		0		13
Fair Value Measured on a Recurring Basis | Other Derivative Instruments | Level 3 | Commodity Trading
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		6		6		6
Fair Value Measured on a Recurring Basis | Other Derivative Instruments | Level 3 | Electric Commodity
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		2		2		2
Fair Value Measured on a Recurring Basis | 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 | Designated as Hedging Instrument | Interest Rate Swap | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Current		Other Liabilities, Current		Other Liabilities, Current
Fair Value Measured on a Recurring Basis | Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		$ 348		$ 348		$ 520
Netting	[3]	(118)		(118)		(244)
Fair Value Measured on a Recurring Basis | Other Current Assets | Level 1
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		10		10		32
Fair Value Measured on a Recurring Basis | Other Current Assets | Level 2
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		146		146		278
Fair Value Measured on a Recurring Basis | Other Current Assets | Level 3
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		192		192		210
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Commodity Trading
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		178		178		324
Netting	[3]	(116)		(116)		(242)
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Electric Commodity
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		158		158		177
Netting	[3]	(2)		(2)		(2)
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Natural Gas Commodity
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		4		4		19
Netting	[3]	0		0		0
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		10		10		32
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		134		134		259
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		4		4		19
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		34		34		33
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		158		158		177
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 3 | Natural Gas Commodity
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		0		0		0
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		140		140		179
Netting	[3]	(62)		(62)		(89)
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Level 1
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		19		19		34
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Level 2
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		53		53		71
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Level 3
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		68		68		74
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Other Derivative Instruments | Commodity Trading
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		140		140		179
Netting	[3]	(62)		(62)		(89)
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		19		19		34
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		53		53		71
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		68		68		74
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Designated as Hedging Instrument | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Netting	[3]	0		0		0
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Designated as Hedging Instrument | Interest Rate Swap | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		0		0		1
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Designated as Hedging Instrument | Level 1 | Interest Rate Swap | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		0		0		0
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Designated as Hedging Instrument | Level 2 | Interest Rate Swap | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		0		0		1
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Designated as Hedging Instrument | Level 3 | Interest Rate Swap | Cash Flow Hedges
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		135		135		181
Netting	[3]	(62)		(62)		(98)
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Level 1
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		22		22		43
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Level 2
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		70		70		97
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Level 3
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		43		43		41
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Other Derivative Instruments | Commodity Trading
Derivatives, Fair Value [Line Items]
Derivative Liability, Gross		135		135		181
Netting	[3]	(62)		(62)		(98)
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		43
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		70		70		97
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		$ 43		$ 43		$ 41
Fair Value, Measurements, Nonrecurring | PPAs
Derivatives, Fair Value [Line Items]
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	[4]	Other Liabilities, Current		Other Liabilities, Current		Other Liabilities, Current
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	[4]	Other Liabilities, Noncurrent		Other Liabilities, Noncurrent		Other Liabilities, Noncurrent
[1]Relates primarily to NSP-Minnesota and SPS FTR instruments administered by MISO and SPP.[2]Relates to commodity trading and is subject to substantial offsetting losses and gains on derivative instruments categorized as levels 1 and 2 in the income statement. See above tables for the income statement impact of derivative activity, including commodity trading gains and losses.[3]Xcel Energy nets derivative instruments and related collateral on its consolidated balance sheets when supported by a legally enforceable master netting agreement. At June 30, 2023 and Dec. 31, 2022, derivative assets and liabilities include no obligations to return cash collateral. At June 30, 2023 and Dec. 31, 2022, derivative assets and liabilities include rights to reclaim cash collateral of $19 million and $53 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.[4]Xcel Energy currently applies the normal purchase exception to qualifying PPAs. Balance relates to specific contracts that were previously recognized at fair value prior to applying the normal purchase exception, and are 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	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Carrying Amount	$ 25,066	$ 23,964
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	$ 21,855	$ 20,897

Benefit Plans and Other Postr_3

Benefit Plans and Other Postretirement Benefits (Details) - USD ($) $ in Millions		1 Months Ended	3 Months Ended		6 Months Ended
		Jan. 31, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pension Plan [Member]
Components of Net Periodic Benefit Cost [Abstract]
Service cost			$ 18	$ 25	$ 37	$ 49
Interest Cost	[1]		40	28	80	55
Expected Return on Plan Assets	[1]		(52)	(52)	(105)	(104)
Amortization of Prior Service Credit	[1]		0	(1)	(1)	(1)
Amortization of Net Loss	[1]		5	18	11	37
Net periodic benefit cost (credit)			11	18	22	35
Effects of regulation			7	1	14	6
Net benefit cost (credit) recognized for financial reporting			18	19	36	41
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement	[2]				0	(1)
Settlement Charge True-Ups					1
Pension Plan [Member] | Parent Company
Components of Net Periodic Benefit Cost [Abstract]
Contributions to Xcel Energy's pension plans		$ 50
Other Postretirement Benefits Plan [Member]
Components of Net Periodic Benefit Cost [Abstract]
Service cost			0	1	0	1
Interest Cost	[1]		5	4	11	8
Expected Return on Plan Assets	[1]		(4)	(5)	(9)	(9)
Amortization of Prior Service Credit	[1]		0	(1)	0	(3)
Amortization of Net Loss	[1]		1	0	1	1
Net periodic benefit cost (credit)			2	(1)	3	(2)
Effects of regulation			0	0	0	1
Net benefit cost (credit) recognized for financial reporting			$ 2	$ (1)	3	(1)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement	[2]				$ 0	$ 0
[1]The components of net periodic cost other than the service cost component are included in the line item “Other income, net” in the consolidated statements of income or capitalized on the consolidated balance sheets as a regulatory asset[2]In the six months ended June 30, 2022, Xcel Energy recognized $1 million in settlement charge true-ups related to the fourth quarter of 2021.

Gas Trading Litigation (Details

Gas Trading Litigation (Details)	Jun. 30, 2023
Gas Trading Litigation
Loss Contingencies [Line Items]
Loss Contingency, Pending Claims, Number	1

Commitments and Contingencies N

Commitments and Contingencies NSP-Minnesota-Sherco (Details) - USD ($) $ in Millions	1 Months Ended
	Jan. 31, 2021	Jun. 16, 2023
Rate Matters [Abstract]
Sherco Dissallowance	$ 22
NSP-Minnesota
Rate Matters [Abstract]
Customer refund of previously recovered purchased power costs	$ 17
DOC Recommendation Based on Xcel's AAA Reported Outage Cost		$ 72
DOC Recommendation Based on Xcel's GE Litigation Loss of Use		$ 58

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
	Feb. 28, 2015	Nov. 30, 2013
Public Utilities, General Disclosures [Line Items]
Public Utilities, Base Return On Equity Charged To Customers Through Transmission Formula Rates	12.38%	12.38%
Public Utilities, ROE Applicable To Transmission Formula Rates In The MISO Region, Recommended By Third Parties	8.67%	9.15%

SPP OATT Upgrade Costs (Details

SPP OATT Upgrade Costs (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018 USD ($)
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

MGP, Landfill and Disposal Site

MGP, Landfill and Disposal Sites (Details)	Jun. 30, 2023
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	12

Commitments and Contingencies E

Commitments and Contingencies Environmental Requirements - Water and Waste (Details) $ in Millions	Jun. 30, 2023 USD ($) Period
Federal Coal Ash Regulation
Site Contingency [Line Items]
Number of sites where regulated ash units will still be in operation at a specified date | Period	8
Federal Coal Ash Regulation | PSCo
Site Contingency [Line Items]
Estimated cost to remediate groundwater sampling results	$ 40
Federal Coal Ash Regulation | PSCo | Maximum [Member]
Site Contingency [Line Items]
Cost of Beneficial Use Coal Ash Project	45
Federal Clean Water Act Section 316 (b) | Capital Addition Purchase Commitments
Site Contingency [Line Items]
Liability for estimated cost to comply with regulation	$ 50

Leases (Details)

Leases (Details) - USD ($) $ in Millions		3 Months Ended				6 Months Ended
		Jun. 30, 2023		Jun. 30, 2022		Jun. 30, 2023		Jun. 30, 2022		Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Finance Lease, Right-of-Use Asset, Amortization		$ 0		$ 1		$ 1		$ 2
Finance Lease, Interest Expense		4		4		8		8
Finance Lease, Cost		4		5		9		10
Operating Lease, Cost		73	[1]	69	[1]	145	[2]	143	[2]
Lessee, Operating Lease, Liability, to be Paid		1,416				1,416
Finance Lease, Liability, Payment, Due	[3]	222				222
Lessee, Operating Lease, Liability, Undiscounted Excess Amount		(224)				(224)
Finance Lease, Liability, Undiscounted Excess Amount	[3]	(158)				(158)
Operating Lease, Liability		1,192				1,192
Finance Lease, Liability	[3]	64				64
Operating Lease, Liability, Current		(226)				(226)				$ (217)
Finance Lease, Liability, Current	[3]	(2)				(2)
Operating lease liabilities		966				966				$ 1,038
Finance Lease, Liability, Noncurrent	[3]	62				62
Short-term Lease, Cost		$ 3		2		$ 5		3
WYCO, Inc.
Lessee, Lease, Description [Line Items]
Equity Method Investment, Ownership Percentage		50%				50%
PPAs
Lessee, Lease, Description [Line Items]
Operating Lease, Cost		$ 61		60		$ 121		123
Lessee, Operating Lease, Liability, to be Paid		1,166				1,166
Lessee, Operating Lease, Liability, Undiscounted Excess Amount		(150)				(150)
Operating Lease, Liability		1,016				1,016
Property, Plant and Equipment, Other Types
Lessee, Lease, Description [Line Items]
Operating Lease, Cost		12	[4]	$ 9	[4]	24	[5]	$ 20	[5]
Lessee, Operating Lease, Liability, to be Paid		250				250
Lessee, Operating Lease, Liability, Undiscounted Excess Amount		(74)				(74)
Operating Lease, Liability		$ 176				$ 176
[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 of $3 million and $2 million for 2023 and 2022, respectively.[5]Includes short-term lease expense of $5 million and $3 million for 2023 and 2022, respectively.

Variable Interest Entities (Det

Variable Interest Entities (Details) - MW	Jun. 30, 2023	Dec. 31, 2022
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)	4,053	3,961

Commitments and Contingencies G

Commitments and Contingencies Guarantees and Bond Indemnifications (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Commitments and Contingencies, Guarantees and Indemnifications [Abstract]
Assets Held As Collateral For Guarantor Obligations	$ 0	$ 0
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 63,000,000	$ 62,000,000

Commitments and Contingencies -

Commitments and Contingencies - Comanche Unit 3 (Details) $ in Millions	Jun. 30, 2023 USD ($)
Loss Contingencies [Line Items]
Comanche Unit 3 Litigation	$ 270

Commitments and Contingencies_2

Commitments and Contingencies - Marshall Wildfire (Details) $ in Millions	Jul. 24, 2023 complaint numberOfPlaintiffs	Jun. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Estimated property losses caused by Marshall Wildfire		$ 2,000
Number of complaints related to the Marshall Wildfire | complaint	8
Number of plaintiffs related to the Marshall Wildfire | numberOfPlaintiffs	586
Cap of noneconomic loss in a civil action other than a medical malpractice under Colorado law		0.6
Amount of insurance coverage		$ 500

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss)		$ 16,914		$ 16,914			$ 16,675
Interest Rate Derivatives, Tax		(88)	$ (74)	(141)	$ (124)
Gains and Losses on Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss)		(44)	(57)	(44)	(57)	$ (58)	(54)	$ (69)	$ (75)
Losses reclassified from net accumulated other comprehensive loss	[1]	0	0	0	0
Net current period other comprehensive income (loss)		14	12	10	18
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax		13	11	8	16
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]	1	1	2	2
Defined Benefit Pension and Postretirement Items
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss)		(38)	(46)	(38)	(46)	(39)	(39)	(47)	(48)
Losses reclassified from net accumulated other comprehensive loss	[1]	1	1	1	2
Net current period other comprehensive income (loss)		1	1	1	2
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax		0	0	0	0
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)		(82)	(103)	(82)	(103)	$ (97)	$ (93)	$ (116)	$ (123)
Losses reclassified from net accumulated other comprehensive loss	[1]	1	1	1	2
Net current period other comprehensive income (loss)		15	13	11	20
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax		13	11	8	16
Total | Interest Rate Swap
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Losses reclassified from net accumulated other comprehensive loss	[2]	$ 1	$ 1	$ 2	$ 2
[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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Segment Reporting [Abstract]
Equity Method Investments	$ 240		$ 240		$ 219
Segment Reporting Information [Line Items]
Electric	2,601	$ 2,923	5,364	$ 5,556
Net income	288	328	706	708
Natural gas	393	476	1,681	1,566
Other	28	25	57	53
Regulated and Unregulated Operating Revenue	3,022	3,424	7,102	7,175
Equity Method Investments	240		240		219
Operating Segments
Segment Reporting Information [Line Items]
Regulated and Unregulated Operating Revenue	3,022	3,425	7,104	7,176
Intersegment Eliminations
Segment Reporting Information [Line Items]
Regulated and Unregulated Operating Revenue	0	(1)	(2)	(1)
Regulated Electric
Segment Reporting Information [Line Items]
Net income	350	337	646	615
Revenues Including Intersegment Revenues	2,601	2,923	5,364	5,556
Regulated Natural Gas
Segment Reporting [Abstract]
Equity Method Investments	240		240		219
Segment Reporting Information [Line Items]
Net income	(22)	25	137	155
Revenues Including Intersegment Revenues	393	477	1,683	1,567
Equity Method Investments	240		240		$ 219
Regulated Natural Gas | Operating Segments
Segment Reporting Information [Line Items]
Natural gas	393	476	1,681	1,566
Regulated Natural Gas | Intersegment Eliminations
Segment Reporting Information [Line Items]
Natural gas	0	1	2	1
All Other
Segment Reporting Information [Line Items]
Net income	(40)	(34)	(77)	(62)
All Other | Operating Segments
Segment Reporting Information [Line Items]
Other	$ 28	$ 25	$ 57	$ 53