v3.26.1
Borrowings and Other Financing Instruments (Tables)
6 Months Ended
Jun. 30, 2026
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, 2026Year Ended Dec. 31, 2025
Borrowing limit$6,250 $4,750 
Amount outstanding at period end2,510 1,550 
Average amount outstanding1,863 1,026 
Maximum amount outstanding2,510 2,965 
Weighted average interest rate, computed on a daily basis4.38 %4.41 %
Weighted average interest rate at period end4.31 3.95 
Credit Facilities
As of June 30, 2026, 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.$2,000 $965 $1,035 
PSCo1,200 48 1,152 
NSP-Minnesota800 44 756 
SPS600 45 555 
NSP-Wisconsin150 — 150 
Total$4,750 $1,102 $3,648 
(a)Expires in December 2029.
(b)Includes outstanding commercial paper and letters of credit.
Schedule of Forward Contracts Indexed to Issuer's Equity
Agreements EnteredCommon Shares (in millions)Maturity
Minimum Expected Proceeds (millions of dollars)
2025 forward equity agreements12.2
Dec. 2026 to May 2027 (a)
$932 
(b)
2025 collared forward equity agreements15.1Dec. 20261,044 
(c)
2026 forward equity agreements21.2
Dec. 2027 to Dec. 2028 (a)
1,705 
(b)
2026 collared forward equity agreements21.3Dec. 2027 to Dec. 20281,496 
(c)
(a)Maturity date varies by agreement. Xcel Energy may settle the agreements at any time until final maturity.
(b)Actual cash proceeds will be impacted by the timing of settlement. Forward prices are based on the public offering price (net of underwriting fees), increased for the overnight bank funding rate, less a spread and less expected dividends on Xcel Energy’s common stock during the period the agreements are outstanding.
(c)Minimum expected proceeds reflect the floor price. Actual cash proceeds will be based on an average market price for Xcel Energy’s common stock during a period preceding settlement, subject to the cap price and floor price, which are derived from the public offerings.
Pro-Forma/Hypothetical Transactions
Pro-Forma/Hypothetical Transactions
Agreements EnteredNet Settlement proceeds (payments):Physical Share Delivery Proceeds (millions of dollars)
Common Shares (in millions)Net Cash (millions of dollars)
2025 forward equity agreements(0.5)$(36)$934 
2026 forward equity agreements0.1 10 1,708