Xcel Energy (XEL) Regulatory Liabilities (2009 - 2026)
Xcel Energy (XEL) reported Regulatory Liabilities of $6.56 billion for Q3 2026, up 3.6% from $6.33 billion a year earlier but down 0.5% from the prior quarter.
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Analysis
Xcel Energy (XEL) Regulatory Liabilities (2009 - 2026) Analysis & Trends
At the end of FY2025, Xcel Energy posted Regulatory Liabilities of $6.28 billion, up 4.4% from FY2024.
- Regulatory Liabilities has increased for six consecutive years, with a five-year compound annual growth rate of 3.4% (FY2020 to FY2025).
- By year, Regulatory Liabilities came in at $6.01 billion in FY2024 (+3.1%), $5.83 billion in FY2023 (+4.6%), $5.57 billion in FY2022 (+3.0%) and $5.41 billion in FY2021 (+1.9%).
- Five-year quarterly Regulatory Liabilities spans a low of $5.41 billion in Q4 2021 and a high of $6.59 billion in Q2 2026.
- Year over year, Regulatory Liabilities has now increased in each of the last 27 quarters, with growth averaging 4.1% over the last eight quarters.
- Across the past five years, year-over-year growth in Regulatory Liabilities ran from 1.8% in Q1 2025 to 6.2% in Q1 2024.
- Per Business Quant data, the three quarters before Q3 2026 came in at $6.59 billion (Q2 2026), $6.39 billion (Q1 2026) and $6.28 billion (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Regulatory Liabilities (Qtr) |
|---|---|---|---|---|---|
| 1 | Wisconsin Electric Power | 99,216.00 Bn | 99,215.99 Bn | 911.30 Mn | 1.87 Bn |
| 2 | Enel Chile | 301.57 Bn | 301.57 Bn | 1.33 Bn | - |
| 3 | Nextera Energy | 180.93 Bn | 179.04 Bn | - | 13.32 Bn |
| 4 | Southern | 109.04 Bn | 101.70 Bn | 7.31 Bn | 5.47 Bn |
| 5 | Duke Energy | 100.59 Bn | 99.24 Bn | 6.37 Bn | 1.37 Bn |
| 6 | National Grid | 86.94 Bn | 59.27 Bn | - | - |
| 7 | American Electric Power | 69.61 Bn | 68.67 Bn | 4.75 Bn | 8.75 Bn |
| 8 | Entergy | 53.37 Bn | 42.94 Bn | - | 3.90 Bn |
| 9 | Sempra | 51.29 Bn | 84.11 Bn | - | 29.00 Mn |
| 10 | Xcel Energy | 50.89 Bn | 44.36 Bn | - | 6.56 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 6.56 Bn |
| Jun 30, 2026 | 6.59 Bn |
| Mar 31, 2026 | 6.39 Bn |
| Dec 31, 2025 | 6.28 Bn |
| Sep 30, 2025 | 6.33 Bn |
| Jun 30, 2025 | 6.22 Bn |
| Mar 31, 2025 | 6.10 Bn |
| Dec 31, 2024 | 6.01 Bn |
| Sep 30, 2024 | 6.06 Bn |
| Jun 30, 2024 | 5.96 Bn |
| Mar 31, 2024 | 5.99 Bn |
| Dec 31, 2023 | 5.83 Bn |
| Sep 30, 2023 | 5.81 Bn |
| Jun 30, 2023 | 5.75 Bn |
| Mar 31, 2023 | 5.64 Bn |
| Dec 31, 2022 | 5.57 Bn |
| Sep 30, 2022 | 5.57 Bn |
| Jun 30, 2022 | 5.50 Bn |
| Mar 31, 2022 | 5.47 Bn |
| Dec 31, 2021 | 5.41 Bn |
API Access
Xcel Energy Regulatory Liabilities API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=regulatory-liabilities&ticker=XEL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "regulatory-liabilities", "ticker": "XEL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=regulatory-liabilities&ticker=XEL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();