Xcel Energy (XEL) official guidance

2,400 new high voltage transmission line miles to support demand growth and regional delivery needs, and approximately $4 billion of investments in our distribution and transmission systems to improve resiliency and reduce future risk of wildfires.

Today, we're introducing an updated $70 billion five-year investment plan designed to serve increasing energy demand to make needed investments to strengthen and modernize our transmission and distribution systems, to provide a cleaner and more sustainable energy portfolio, and to keep energy safe, reliable, and affordable for all of our customers.

Looking forward, we remain on track to sign ESAs for an additional 1 gigawatt of data centers by the end of 2026 and another 3 gigawatts by the end of 2027.

Looking forward, we remain on track to sign ESAs for an additional 1 gigawatt of data centers by the end of 2026 and another 3 gigawatts by the end of 2027.

We see additional investments driven by multi-gigawatt RFPs in all three of our regions, future high-voltage transmission projects in each of our regions, and infrastructure needed to serve four gigawatts of new data centers that we expect to contract before the end of next year.

Our updated 2027 to 2031 capital plan reflects an additional approximately $26 billion of debt and $8 billion of equity content.

We are maintaining our dividend growth objective of 4%-6%, with the expectation to be at the low end of the range.

Over our 2027 to 2031 forecast period, we expect our dividend payout ratio will trend downward in our payout ratio range of 45%-55%, which allows greater financial flexibility for the future.

In total, we expect this plan will deliver more than nine gigawatts of renewable generation, more than three gigawatts of natural gas-fired generation, and more than two gigawatts of energy storage to ensure system reliability.

Based on our results through the third quarter, we're narrowing our 2026 ongoing earnings guidance range to $4.10 to $4.16 per share, and remain on track to deliver on full year guidance for the 22nd year in a row.

In addition, we're initiating our 2027 earnings guidance range of $4.48 to $4.62 per share.

From 2027 to 2030, we expect to deliver on average 10-plus% EPS growth.

Based on our updated forecast, we are extending to 2031 our expectation to deliver, on average, 9-plus% EPS growth.

Our updated 2027 to 2031 capital plan reflects an additional approximately $26 billion of debt and $8 billion of equity content.

2031, it hits 18%. Our debt to EBITDA improves over the five-year period.

In total, we expect this plan will deliver more than nine gigawatts of renewable generation, more than three gigawatts of natural gas-fired generation, and more than two gigawatts of energy storage to ensure system reliability.

Our cash from ops has a 13%-14% CAGR over this time period, and that's really driven by, we have a lot of these large generation, long lead time projects going into service and starting to cash flow.

This plan extends our current five-year annualized rate base growth of approximately 11% into 2031.

In total, we expect this plan will deliver more than nine gigawatts of renewable generation, more than three gigawatts of natural gas-fired generation, and more than two gigawatts of energy storage to ensure system reliability.

For 2026, we remain on track for full-year weather-adjusted electric sales to increase 3%.