Xcel Energy Reaches Colorado Electric Rate Case Settlement
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The latest update is out from Xcel Energy ( (XEL) ).
In November 2025, Public Service Company of Colorado filed an electric rate case seeking a 9.9% revenue increase, which led on June 2, 2026 to a comprehensive but non-unanimous settlement with Colorado regulators and other parties. The agreement, opposed by groups including AARP, the City of Boulder and the state utility consumer advocate, would instead raise revenue by $225 million, or 6.3%, based on a 2025 historic test year, a 9.3% return on equity and a 54.5% equity ratio.
The settlement also introduces a performance framework for operating the Comanche Unit 3 coal plant through 2029, transfers prior transmission cost adjustment investments into rate base and continues existing trackers and deferrals. Hearings on the settlement are scheduled for June 2026, with a regulatory decision and new rates expected in the third quarter of 2026, and Xcel Energy has reaffirmed its 2026 ongoing earnings per share guidance despite the lower-than-requested increase.
The most recent analyst rating on (XEL) stock is a Hold
with a $87.00 price target.
To see the full list of analyst forecasts on Xcel Energy stock,
see the XEL Stock Forecast page.
Spark’s Take on XEL Stock
According to Spark, TipRanks’ AI Analyst, XEL is a Neutral.
XEL scores as a stable but not risk-free utility: dependable profitability and constructive reaffirmed guidance/capex growth plans are the main supports, while the biggest constraints are volatile cash flow (including a sharp recent OCF drop), high and rising leverage, and continuing regulatory/wildfire-related uncertainty. Technicals are neutral and valuation looks somewhat full for the profile, with the dividend providing partial offset.
To see Spark’s full report on XEL stock,
click here.
More about Xcel Energy
Xcel Energy Inc., through its wholly owned subsidiary Public Service Company of Colorado, operates as a regulated electric utility, providing electricity to customers in Colorado under oversight of the Colorado Public Utilities Commission. The company generates, transmits and distributes power, including from coal facilities such as Comanche Unit 3, and recovers its investments and operating costs through regulated rates.
Average Trading Volume: 4,892,889
Technical Sentiment Signal: Buy
Current Market Cap: $48.61B
Find detailed analytics on XEL stock on TipRanks’ Stock Analysis page.
