Xcel Energy, Inc. XEL

Xcel Energy Inc., incorporated on June 17, 1909, is a public utility holding company. The Company's operations include the activity of four utility subsidiaries that serve electric and natural gas customers in eight states. Its segments include regulated electric utility, regulated natural gas utility and all other. Its utility subsidiaries include NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado (PSCo) and Southwestern Public Service Co. (SPS), which serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. Along with WYCO Development LLC (WYCO), a joint venture formed with Colorado Interstate Gas Company, LLC (CIG) to develop and lease natural gas pipelines storage and compression facilities, and WestGas InterState, Inc. (WGI), an interstate natural gas pipeline company, these companies comprise the regulated utility operations.

The regulated electric utility segment generates, transmits and distributes electricity in Minnesota, Wisconsin, Michigan, North Dakota, South Dakota, Colorado, Texas and New Mexico. In addition, this segment includes sales for resale and provides wholesale transmission service to various entities in the United States. Regulated electric utility also includes commodity trading operations. The regulated natural gas utility segment transports, stores and distributes natural gas primarily in portions of Minnesota, Wisconsin, North Dakota, Michigan and Colorado. The all other category primarily includes steam revenue, appliance repair services, nonutility real estate activities, revenues associated with processing solid waste into refuse-derived fuel and investments in rental housing projects that qualify for low-income housing tax credits.

NSP-Minnesota

NSP-Minnesota is a utility primarily engaged in the generation, purchase, transmission, distribution and sale of electricity in Minnesota, North Dakota and South Dakota. NSP-Minnesota also purchases, transports, distributes and sells natural gas to retail customers, and transports customer-owned natural gas in Minnesota and North Dakota. As of December 31, 2016, NSP-Minnesota provided electric utility service to approximately 1.5 million customers and natural gas utility service to approximately 0.5 million customers. NSP-Minnesota's direct subsidiaries include United Power and Land Company, which holds real estate.

NSP-Wisconsin

NSP-Wisconsin is a utility engaged in the generation, transmission, distribution and sale of electricity in portions of northwestern Wisconsin and in the western portion of the Upper Peninsula of Michigan. NSP-Wisconsin purchases, transports, distributes and sells natural gas to retail customers and transports customer-owned natural gas in this service territory. As of December 31, 2016, NSP-Wisconsin provided electric utility service to approximately 257,000 customers and natural gas utility service to approximately 113,000 customers. NSP-Wisconsin's direct subsidiaries include Chippewa and Flambeau Improvement Co., which operates hydro reservoirs; Clearwater Investments Inc., which owns interests in affordable housing, and NSP Lands, Inc., which holds real estate.

PSCo

PSCo is a utility engaged in the generation, purchase, transmission, distribution and sale of electricity in Colorado. PSCo also purchases, transports, distributes and sells natural gas to retail customers and transports customer-owned natural gas. As of December 31, 2016, PSCo provided electric utility service to approximately 1.4 million customers and natural gas utility service to approximately 1.4 million customers. PSCo's direct subsidiaries include 1480 Welton, Inc. and United Water Company, both of which own certain real estate interests, and Green and Clear Lakes Company, which owns water rights and certain real estate interests. PSCo also holds a controlling interest in several other relatively small ditch and water companies.

SPS

SPS is a utility engaged in the generation, purchase, transmission, distribution and sale of electricity in portions of Texas and New Mexico. As of December 31, 2016, SPS provided electric utility service to approximately 389,000 retail customers in Texas and New Mexico.

Other Subsidiaries

WGI is a small interstate natural gas pipeline company engaged in transporting natural gas from the PSCo system near Chalk Bluffs, Colorado to the Cheyenne, Wyoming. Xcel Energy Services Inc. is the service company for the Company. Xcel Energy Transmission Development Company, LLC (XETD) and Xcel Energy Southwest Transmission Company, LLC (XEST) are transmission-only subsidiaries that will participate in Midcontinent Independent System Operator, Inc. (MISO) and Southwest Power Pool, Inc. (SPP) competitive bidding processes for transmission projects. Xcel Energy West Transmission Company, LLC (XEWT) is a transmission-only subsidiary that will bid on transmission projects in the western United States.