The technologies needed to produce carbon-free electricity are not currently available. Xcel’s long-term plans include the development of these advanced technologies in a cost-effective manner. These plans could include carbon capture technology as well as nuclear power. The company, in cooperation with the government, will try to research and develop various options to reach its goals.
For its most recent quarter, Xcel saw a slight increase in total operating revenues while earnings saw a slight decline. The company narrowed its EPS guidance range for 2018 to $2.45 to $2.49 from the prior range of $2.41 to $2.51.
Last month, Xcel announced that it was acquiring the Mankato Energy Center from Southern Power, a subsidiary of Southern Company (SO). This acquisition is expected to help Xcel in its efforts to transition to cleaner energy sources and reduce its dependence on coal.
Xcel’s shares have gained over 9.8% so far this year and looking at the past three months, the stock has climbed 8.9%.