<SEC-DOCUMENT>0000072903-25-000246.txt : 20250930
<SEC-HEADER>0000072903-25-000246.hdr.sgml : 20250930
<ACCEPTANCE-DATETIME>20250930165430
ACCESSION NUMBER:		0000072903-25-000246
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250928
FILED AS OF DATE:		20250930
DATE AS OF CHANGE:		20250930

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Casey Lynn
		CENTRAL INDEX KEY:			0001750741
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-03034
		FILM NUMBER:		251361232

	MAIL ADDRESS:	
		STREET 1:		414 NICOLLET MALL
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55401

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			XCEL ENERGY INC
		CENTRAL INDEX KEY:			0000072903
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC & OTHER SERVICES COMBINED [4931]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				410448030
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		414 NICOLLET MALL
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55401
		BUSINESS PHONE:		6123305500

	MAIL ADDRESS:	
		STREET 1:		414 NICOLLET MALL
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55401

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NORTHERN STATES POWER CO /MN/
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-09-28</periodOfReport>

    <issuer>
        <issuerCik>0000072903</issuerCik>
        <issuerName>XCEL ENERGY INC</issuerName>
        <issuerTradingSymbol>XEL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001750741</rptOwnerCik>
            <rptOwnerName>Casey Lynn</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>414 NICOLLET MALL</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>MINNEAPOLIS</rptOwnerCity>
            <rptOwnerState>MN</rptOwnerState>
            <rptOwnerZipCode>55401</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-09-28</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>510.848</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>38944.176</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Retainer granted in the form of stock equivalent units payable in whole shares of common stock following termination of the reporting person's service as director and fractional units are payable at such time in cash.</footnote>
        <footnote id="F2">Of the 510.848 stock equivalent units, 425.706 were granted at a price of $79.28 per unit in lieu of the reporting person's quarterly cash retainer, and 85.142 were granted at no cost to the reporting person as a 20% premium on the amount of such retainer.</footnote>
        <footnote id="F3">Includes 302.998 stock equivalent units acquired pursuant to the reinvestment of dividend equivalents.</footnote>
        <footnote id="F4">Includes 1.143 shares of stock acquired since the person's last report pursuant to the reinvestment of dividend equivalents.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Kristin L. Westlund, Attorney in Fact for Lynn Casey</signatureName>
        <signatureDate>2025-09-30</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
