Xcel Energy launches up to $6 billion common-stock offering program

On October 30, 2026, Xcel Energy entered into a new equity distribution agreement allowing it to sell up to $6 billion of common stock through numerous banks and forward-sale transactions, with agent commissions of up to 1% for certain sales. The new program replaces its May 1, 2026 program, which had approximately $448.6 million of unsold capacity; about $3.8 billion of forward sales from that program and $2.2 billion from a 2025 agreement remain outstanding, creating potential future share issuance and dilution, although the filing does not report proceeds from the new program being raised to date.