Xcel Energy plays leading role in area’s economy Company spending, contributions to state and local tax revenues higher in 2022

Xcel Energy not only provides the electricity that powers the area economy but also contributes a substantial amount of economic support through hundreds of millions of dollars spent on goods and services and through taxes and fees paid to state and local governments.

In 2022 Xcel Energy purchased almost $784 million in goods and services from businesses in Texas and New Mexico, up from the $745 million in local spending the year before. And local governments such as school districts, cities and counties benefitted from close to $177 million in franchise fees and tax revenues in 2022 that help pay for the services vital to the area’s quality of life.

“We would not be able to provide the level of service our customers deserve without the communities where we work and the tools and supplies our communities provide to get our jobs done,” said Adrian J. Rodriguez, president, Xcel Energy – New Mexico, Texas. “It’s important that we maintain this vital partnership as we support our shared vision of a prosperous region that provides opportunities for everyone.”

Nonprofits are an important part of that partnership. Xcel Energy and the Xcel Energy Foundation donated more than $1.1 million in its Texas-New Mexico service area in 2022, a large amount of which benefitted United Way organizations throughout the region. Employees and retirees donated an additional $ 364,000 to area nonprofits in 2022 and gave hundreds of hours of volunteer time to nonprofit causes. Additionally, Xcel Energy employees serve on boards and committees, often taking leadership roles.

Xcel Energy also benefits the communities it serves through ongoing support of economic development efforts. The company works closely with local governments, area economic development organizations and chambers of commerce to support the retention of existing businesses and the attraction of new jobs to the area. Xcel Energy provides an online inventory of the area’s most marketable industrial sites and buildings at economicdevelopment. xcelenergy.com.

Site consultants use this inventory to find information on area business and industrial parks, including data on power capacity and infrastructure, access to transportation and communication networks, and other criteria designed to increase speed to market.

Xcel Energy’s investments in new and upgraded lines, substations and generating facilities are coordinated with local economic development efforts, providing area communities a strong advantage as they seek to expand and retain business and create jobs. Recent investments in the distribution network in Amarillo have been cited by economic developers as key to attracting 3,000 new jobs and over $2 billion in capital investment over the past two years.

“It’s important to us personally and as employees of the region’s leading energy company that the communities we serve thrive economically,” Rodriguez said. “Our team’s roots run deep here, and we’ll be here for many years to come.”

Xcel Energy operates in 96 towns and cities in a 52,000square-mile service area that includes the Panhandle and South Plains regions of Texas and a large portion of eastern New Mexico. The company’s high- voltage transmission network stretches from southwestern Kansas through the Texas Panhandle and South Plains into southeastern New Mexico. The regional grid is part of the Southwest Power Pool and is not tied with ERCOT in Texas or the Western Electricity Coordinating Council (WECC) that serves a large portion of New Mexico.

The company employs 1,615 full-time workers in Texas and 253 in New Mexico.