Financial Astrology of Xcel Energy Inc.

FINANCIAL ASTROLOGY

First Trade Date for Xcel Energy Inc.

Company Name	First Trade Date (yyyy-mm-dd)
Xcel Energy Inc.	2000-08-21

Company Name	Symbol
Xcel Energy Inc.	XEL
History and Business of Company (this information may include date of incorporation)
Xcel Energy Inc. (Xcel Energy), a Minnesota corporation, is a registered holding company under the Public Utility Holding Company Act of 1935 (PUHCA). In 2003, Xcel Energy directly owned five utility subsidiaries that serve electric and natural gas customers in 11 states. These utility subsidiaries are Northern States Power Co., a Minnesota corporation (NSP-Minnesota); Northern States Power Co., a Wisconsin corporation (NSP-Wisconsin); Public Service Company of Colorado (PSCo); Southwestern Public Service Co. (SPS); and Cheyenne Light, Fuel and Power Co. (Cheyenne). These utilities serve customers in portions of Colorado, Kansas, Michigan, Minnesota, New Mexico, North Dakota, Oklahoma, South Dakota, Texas, Wisconsin and Wyoming. Along with WestGas InterState Inc. (WGI), an interstate natural gas pipeline, these companies comprise our continuing regulated utility operations. In January 2003, Xcel Energy sold Viking Gas Transmission Co. (Viking), an interstate natural gas pipeline company. In October 2003, Xcel Energy sold Black Mountain Gas Co. (BMG), a regulated natural gas and propane distribution company. Both Viking and BMG are reported as a component of discontinued operations. In January 2004, Xcel Energy reached an agreement to sell Cheyenne, pending regulatory approval. Xcel Energy's nonregulated subsidiaries in continuing operations include Utility Engineering Corp. (engineering, construction and design); Seren Innovations, Inc. (broadband telecommunications services); Planergy International, Inc. (energy management solutions); and Eloigne Co. (investments in rental housing projects that qualify for low-income housing tax credits). During 2003, the board of directors of Xcel Energy approved management's plan to exit certain businesses conducted by the nonregulated subsidiaries Xcel Energy International Inc. (an international independent power producer, primarily in Argentina) and e prime inc. (a natural gas marketing and trading company). Both of these businesses are presented as a component of discontinued operations. Also during 2003, Planergy closed and sold a majority of its business operations and final dissolution is expected in 2004. During 2003, Xcel Energy also divested its ownership interest in NRG Energy, Inc. (NRG), an independent power producer. On May 14, 2003, NRG and certain of its affiliates filed voluntary petitions in the U. S. Bankruptcy Court for the Southern District of New York for reorganization under Chapter 11 of the U.S. Bankruptcy Code to restructure their debt. On Dec. 5, 2003, NRG completed its reorganization and emerged from bankruptcy. As a result of the reorganization, Xcel Energy relinquished its ownership interest in NRG. At Dec. 31, 2003, Xcel Energy reports NRG's financial activity as a component of discontinued operations. Xcel Energy is obligated to make payments of up to $752 million to NRG in early 2004 and expects to fund these payments with cash on hand, borrowings against Xcel Energy's revolving credit facilities and proceeds from a tax refund associated with the write-off of its investment in NRG. Xcel Energy was incorporated under the laws of Minnesota in 1909. Its executive offices are located at 800 Nicollet Mall, Minneapolis, Minn. 55402. For information on the nonregulated subsidiaries of Xcel Energy, see Nonregulated Subsidiaries under Item 1. For information regarding Xcel Energy's segments, see Note 20 to the Consolidated Financial Statements. Xcel Energy's web site address is www.xcelenergy.com. Xcel Energy makes available, free of charge through its web site, its annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and all amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 as soon as reasonably practicable after such material is electronically filed with or furnished to the Securities and Exchange Commission (SEC).

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