Xcel profits up 2010, more profits forecast in 2011 - KCBD NewsChannel 11 Lubbock

Xcel profits up 2010, more profits forecast in 2011

By James Clark - email

LUBBOCK, TX (KCBD) - Xcel Energy, a major electric provider on the South Plains, reports profits of $756 million for 2010.  That works out to $1.62 per share as compared with 2009 earnings of $681 million, or $1.48 per share. 

Xcel's West Texas subsidiary, Southwestern Public Service Company, is asking for permission to increase monthly bills by 7% staring next month.  That increase will not apply to most Lubbock residents because Xcel sold its Lubbock operations to Lubbock Power & Light for $87 million on October 29th of last year.  The company forecasts profits of $1.65 to $1.75 per share for 2011. 

Xcel provides electric service or natural gas or both to people in Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. 

Copyright 2011 KCBD NewsChannel 11.  All rights reserved.

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