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Our Perspective: Xcel Quarterly Profits up 35 Percent, Buoyed by Rate Increases

The Star Tribune published a bombshell story last Thursday entitled "Xcel Quarterly Profits up 35 Percent, Buoyed by Rate Increases," which reported Xcel Energy's quarterly profits for the last quarter of 2019, but unfortunately, unless people understand energy policy in Minnesota, they would have no idea why this story is so explosive. According to the Star Tribune article: "Xcel Energy’s fourth-quarter profits rose 35% and beat Wall Street forecasts, aided by rate increases in several states." Higher electric and natural gas profit margins, primarily due to rate increases, added 37 cents per share in 2019, said a report Thursday by Travis Miller, a...

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Wisconsin Utilities Rake in Increased Profits as Wind and Solar, Transmission Spending Increases

Government-approved monopoly utility companies in the Midwest continue to pad their guaranteed corporate profits by building more wind and solar installations, along with the transmission lines needed to transport the energy generated by them to far-away population centers. This time, it is Wisconsin utilities that are doing the profit padding by adopting the same language used by Xcel Energy to mislead consumers on the cost of their electricity, according to the Wisconsin State Journal. "Alliant Energy announced a 7% increase in its 2020 dividends Wednesday as it reported earnings of $226 million in the third quarter of 2019. That’s up almost 10 percent...

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Confessions of a Former Xcel Energy Employee- Can Minnesota Avoid Wreckage Seen in Colorado?

A tell-all from Duane Richards, a former Xcel Energy employee, who plainly states that the company's "Steel for Fuel" agenda is an attempt to bolster shareholder profits at the expense of Colorado ratepayers, who will be stuck footing the bill. We can learn a lot in Minnesota from our friends in the west about the wisdom of pushing for greater renewable energy mandates, as some candidates for public office are advocating....

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