Exhibit 99.01
logoa01a01a141a.jpg
 414 Nicollet Mall
Oct. 29, 2020
Minneapolis, MN 55401

XCEL ENERGY
THIRD QUARTER 2020 EARNINGS REPORT

GAAP 2020 third quarter diluted EPS was $1.14 compared with $1.01 per share in 2019.
Xcel Energy narrows its 2020 EPS guidance range to $2.75 to $2.81 from $2.73 to $2.83 per share.
Xcel Energy initiates 2021 EPS guidance of $2.90 to $3.00.

MINNEAPOLIS — Xcel Energy Inc. (NASDAQ: XEL) today reported 2020 third quarter GAAP and ongoing earnings of $603 million, or $1.14 per share, compared with $527 million, or $1.01 per share in the same period in 2019.

“Xcel Energy achieved strong third quarter results despite the ongoing pandemic and has launched important new initiatives to support our customers, employees and communities through these challenging times. As a result, we are narrowing our 2020 earnings guidance to $2.75 to $2.81 per share. In addition, we are initiating 2021 earnings guidance of $2.90 to $3.00 per share, which is consistent with our long-term growth objective,” said Ben Fowke, chairman and CEO of Xcel Energy.

“Over the next five years, we plan to invest $22.6 billion in base capital. We also have proposed to invest an incremental $1.4 billion related to requests from Minnesota to help address the economic impacts of COVID-19. Our proposal, which includes grid investment, solar facilities and modernizing aging wind farms, would create 5,000 jobs and expand our renewable portfolio, all while keeping customer bills low. It also outlines a 10-year vision to power 1.5 million electric vehicles, saving customers $1 billion on fueling costs and cutting carbon emissions by nearly 5 million tons annually by 2030.”

At 9:00 a.m. CDT today, Xcel Energy will host a conference call to review financial results. To participate in the call, please dial in 5 to 10 minutes prior to the start and follow the operator’s instructions.
US Dial-In:(866) 575-6539
International Dial-In:(400) 120-9101
Conference ID:9230440

The conference call also will be simultaneously broadcast and archived on Xcel Energy’s website at www.xcelenergy.com. To access the presentation, click on Investor Relations. If you are unable to participate in the live event, the call will be available for replay from 12:00 p.m. CDT on Oct. 29 through 12:00 p.m. CDT on Nov. 1.
Replay Numbers
US Dial-In:(888) 203-1112
International Dial-In:(719) 457-0820
Access Code:9230440

1

The following information was filed by Northern States Power Co on Thursday, October 29, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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