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.
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