v3.26.1
Borrowings and Other Financing Instruments Forward Equity Agreements (Details)
shares in Millions, $ in Millions
Jun. 30, 2026
USD ($)
shares
2025 Forward Equity Agreements  
Forward Contract Indexed to Issuer's Equity [Line Items]  
Common Stock, Shares to be Issued through forward Equity Agreement | shares 12.2 [1]
Period End Settlement Price, in Cash $ 934
Period End Net Cash Settlement Price $ (36)
Period End Net Share Settlement Price | shares (0.5)
Expected Settlement Price $ 932 [2]
2025 Collared Forward Equity Agreements  
Forward Contract Indexed to Issuer's Equity [Line Items]  
Common Stock, Shares to be Issued through forward Equity Agreement | shares 15.1
Expected Settlement Price $ 1,044 [3]
2026 Forward Equity Agreement  
Forward Contract Indexed to Issuer's Equity [Line Items]  
Common Stock, Shares to be Issued through forward Equity Agreement | shares 21.2 [1]
Period End Settlement Price, in Cash $ 1,708
Period End Net Cash Settlement Price $ 10
Period End Net Share Settlement Price | shares 0.1
Expected Settlement Price $ 1,705 [2]
2026 Collared Forward Equity Agreements  
Forward Contract Indexed to Issuer's Equity [Line Items]  
Common Stock, Shares to be Issued through forward Equity Agreement | shares 21.3
Expected Settlement Price $ 1,496 [3]
[1] Maturity date varies by agreement. Xcel Energy may settle the agreements at any time until final maturity.
[2] 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.
[3] 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.