Xcel Energy Inc. — the largest utility in Colorado — today reported an 11 percent increase in earnings to $756 million in 2010, compared with 2009.
The earnings per share rose to $1.62 in 2010 from $1.48 in 2009. Operating revenues in 2010 were $10.3 billion compared with $9.6 billion in 2009.
The increased revenue was due to rate increases in some of the states in which it operates and warmer summer temperatures, the Minneapolis-based company said in a statement.
“We delivered earnings in the upper half of our guidance range,” Richard Kelly, Xcel chief executive officer, said in a statement. “This represents the sixth consecutive year in which we have met or exceeded our earnings guidance.”
Public Service Company of Colorado, an Xcel subsidiary, accounted for 86 cents of the $1.62 in per share earnings, the company said.
