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Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Asset Retirement Obligations

Xcel Energy’s AROs were as follows:

(Millions  of Dollars)						Jan. 1, 2023						Amounts Incurred (a)						Amounts Settled						Accretion						Cash Flow Revisions (b)						Dec. 31, 2023
Electric
Nuclear						$	2,160					$	—					$	—					$	105					$	(158)					$	2,107
Wind						514						10						—						19						(17)						526
Steam, hydro and other production						348						—						(1)						15						(1)						361
Distribution						48						—						—						1						—						49
Natural gas
Transmission and distribution						307						—												14						(149)						172
Other
Miscellaneous						3						—						—						—						—						3
Total liability						$	3,380					$	10					$	(1)					$	154					$	(325)					$	3,218

(a)Amounts incurred relate to the Northern Wind farm placed in service in NSP-Minnesota.

(b)In 2023, AROs were revised for changes in timing and estimates of cash flows. Revisions in wind and nuclear AROs were primarily incurred due to changes in useful lives. Changes in gas transmission and distribution AROs were a result of updated gas line mileage and number of services, as well as changes to inflation and discount rate assumptions.

(Millions  of Dollars)						Jan. 1, 2022						Amounts Incurred (a)												Accretion						Cash Flow Revisions (b)						Dec. 31, 2022
Electric
Nuclear						$	2,056					$	—											$	104					$	—					$	2,160
Wind						478						25												19						(8)						514
Steam, hydro and other production						288						34												12						14						348
Distribution						47						—												1						—						48
Natural gas
Transmission and distribution (c)						279						—												12						16						307
Other
Miscellaneous						3						—												—						—						3
Total liability						$	3,151					$	59											$	148					$	22					$	3,380

(a)Amounts incurred related to the wind farms placed in service in 2022 for NSP-Minnesota (Dakota Range and Rock Aetna) and steam production pond remediation costs for PSCo.

(b)In 2022, AROs were revised for changes in timing and estimates of cash flows. Revisions in steam, hydro and other production AROs were primarily related to changes in cost estimates for remediation of ash containment facilities. Changes in gas transmission and distribution AROs were primarily related to changes in labor rates coupled with increased gas line mileage and number of services.

(c)Prior periods have been reclassified to conform with current year presentation.

Assets and Liabilities, Lessee [Table Text Block]

Operating lease ROU assets:

(Millions of Dollars)						Dec. 31, 2023						Dec. 31, 2022
PPAs						$	1,832					$	1,669
Other						315						244
Gross operating lease ROU assets						2,147						1,913
Accumulated amortization						(930)						(709)
Net operating lease ROU assets						$	1,217					$	1,204

Finance lease ROU assets:

(Millions of Dollars)						Dec. 31, 2023						Dec. 31, 2022
Gas storage facilities						$	160					$	160
Gas pipeline						21						21
Gross finance lease ROU assets						181						181
Accumulated amortization						(67)						(64)
Net finance lease ROU assets						$	114					$	117

Lease, Cost [Table Text Block]

Components of lease expense:

(Millions of Dollars)						2023						2022						2021
Operating leases
PPA capacity payments						$	241					$	241					$	251
Other operating leases (a)						42						39						36
Total operating lease expense (b)						$	283					$	280					$	287
Finance leases
Amortization of ROU assets						$	3					$	4					$	7
Interest expense on lease liability						15						16						17
Total finance lease expense						$	18					$	20					$	24

(a)Includes short-term lease expense of $3 million, $6 million, and $5 million for 2023, 2022 and 2021, respectively.

(b)PPA capacity payments are included in electric fuel and purchased power on the consolidated statements of income. Expense for other operating leases is included in O&M expense and electric fuel and purchased power.

Finance Lease, Liability, Maturity [Table Text Block]

Commitments under operating and finance leases as of Dec. 31, 2023:

(Millions of Dollars)						PPA (a) (b) Operating Leases						Other Operating Leases						Total Operating Leases						Finance  Leases (c)
2024						$	244					$	33					$	277					$	10
2025						245						26						271						10
2026						216						22						238						9
2027						162						22						184						8
2028						107						22						129						8
Thereafter						259						162						421						173
Total minimum obligation						1,233						287						1,520						218
Interest component of obligation						(157)						(99)						(256)						(154)
Present value of minimum obligation						$	1,076					188						1,264						64
Less current portion																		(226)						(2)
Noncurrent operating and finance lease liabilities																		$	1,038					$	62
Weighted-average remaining lease term in years																		8.2						36.8

(a)Amounts do not include PPAs accounted for as executory contracts and/or contingent payments, such as energy payments on renewable PPAs.

(b)PPA operating leases contractually expire at various dates through 2039.

(c)Excludes certain amounts related to Xcel Energy’s 50% ownership interest in WYCO.

Estimated Future Payments for Capacity and Energy Pursuant to Purchased Power Agreements

At Dec. 31, 2023, the estimated future payments for capacity and energy that the utility subsidiaries of Xcel Energy are obligated to purchase pursuant to these non-lease contracts, subject to availability, were as follows:

(Millions of Dollars)						Capacity						Energy (a)
2024						$	80					$	207
2025						45						94
2026						28						47
2027						9						10
2028						1						10
Thereafter						2						18
Total						$	165					$	386

(a)Excludes contingent energy payments for renewable energy PPAs.

Estimated Minimum Purchases Under Fuel Contracts

Estimated minimum purchases under these contracts as of Dec. 31, 2023:

(Millions of Dollars)						Coal						Nuclear fuel						Natural gas supply						Natural gas storage and transportation
2024						$	350					$	142					$	339					$	311
2025						157						179						13						284
2026						81						63						—						276
2027						56						180						—						238
2028						21						50						—						111
Thereafter						1						177						—						442
Total						$	666					$	791					$	352					$	1,662

Other Commitments

Committed minimum payments under these obligations as follows:

(Millions of Dollars)						Minimum Payments
2024						$	18
2025						14
2026						13
2027						12
2028						—
Thereafter						—

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