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Interest Rate Derivatives (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023
--- | --- | ---
Derivative [Line Items] |  |  |
Derivative Asset, Current |  | $ 86 | $ 104
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration] |  | Assets, Current | Assets, Current
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration] |  | Other Assets, Noncurrent | Other Assets, Noncurrent
Fair Value, Measured on a Recurring Basis |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Current |  | $ 84 | $ 101
Derivative Asset, Noncurrent |  | 90 | 76
Other Current Assets | Fair Value, Measured on a Recurring Basis |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 138 | 167
Netting | [1] | 54 | 66
Other Current Assets | Level 1 | Fair Value, Measured on a Recurring Basis |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 9 | 8
Other Current Assets | Level 2 | Fair Value, Measured on a Recurring Basis |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 45 | 65
Other Current Assets | Level 3 | Fair Value, Measured on a Recurring Basis |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 84 | 94
Other Noncurrent Assets | Fair Value, Measured on a Recurring Basis |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 124 | 110
Netting | [1] | 34 | 34
Other Noncurrent Assets | Level 1 | Fair Value, Measured on a Recurring Basis |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 12 | 14
Other Noncurrent Assets | Level 2 | Fair Value, Measured on a Recurring Basis |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 54 | 51
Other Noncurrent Assets | Level 3 | Fair Value, Measured on a Recurring Basis |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 58 | 45
Commodity Trading | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Current |  | 34 | 32
Derivative Asset, Noncurrent |  | 83 | 76
Commodity Trading | Other Current Assets | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 84 | 91
Netting | [1] | 50 | 59
Commodity Trading | Other Current Assets | Level 1 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 9 | 8
Commodity Trading | Other Current Assets | Level 2 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 45 | 51
Commodity Trading | Other Current Assets | Level 3 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 30 | 32
Commodity Trading | Other Noncurrent Assets | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 117 | 110
Netting | [1] | 34 | 34
Commodity Trading | Other Noncurrent Assets | Level 1 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 12 | 14
Commodity Trading | Other Noncurrent Assets | Level 2 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 54 | 51
Commodity Trading | Other Noncurrent Assets | Level 3 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 51 | 45
Electric Commodity | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Current |  | 50 | 55
Derivative Asset, Noncurrent |  | 7 | 0
Electric Commodity | Other Current Assets | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 54 | 62
Netting | [1] | 4 | 7
Electric Commodity | Other Current Assets | Level 1 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 0 | 0
Electric Commodity | Other Current Assets | Level 2 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 0 | 0
Electric Commodity | Other Current Assets | Level 3 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 54 | 62
Electric Commodity | Other Noncurrent Assets | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 7 | 0
Netting |  | 0 | 0
Electric Commodity | Other Noncurrent Assets | Level 1 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 0 | 0
Electric Commodity | Other Noncurrent Assets | Level 2 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 0 | 0
Electric Commodity | Other Noncurrent Assets | Level 3 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 7 | 0
Interest Rate Swap |  |  |
Derivative [Line Items] |  |  |
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net |  | 1 |
Derivative Liability, Notional Amount |  | 0 |
PPAs | Fair Value, Measurements, Nonrecurring |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Current | [2] | 2 | 3
Natural Gas Commodity | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Current |  |  | 14
Natural Gas Commodity | Other Current Assets | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 0 | 14
Netting | [1] | 0 | 0
Natural Gas Commodity | Other Current Assets | Level 1 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 0 | 0
Natural Gas Commodity | Other Current Assets | Level 2 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | 0 | 14
Natural Gas Commodity | Other Current Assets | Level 3 | Fair Value, Measured on a Recurring Basis | Other Derivative Instruments |  |  |
Derivative [Line Items] |  |  |
Derivative Asset, Gross |  | $ 0 | $ 0
[1] | Xcel Energy nets derivative instruments and related collateral on its consolidated balance sheets when supported by a legally enforceable master netting agreement. At March 31, 2024 and Dec. 31, 2023, derivative assets and liabilities include no obligations to return cash collateral. At March 31, 2024 and Dec. 31, 2023, derivative assets and liabilities include rights to reclaim cash collateral of $8 million and $7 million, respectively. Counterparty netting amounts presented exclude settlement receivables and payables and non-derivative amounts that may be subject to the same master netting agreements.
[2] | Xcel Energy currently applies the normal purchase exception to qualifying PPAs. Balance relates to specific contracts that were previously recognized at fair value prior to applying the normal purchase exception, and are being amortized over the remaining contract lives along with the offsetting regulatory assets and liabilities.

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