Colorado provides bulk of Xcel Energy profitsColorado provided 42 percent of Xcel Energy profits during the second quarter of 2011.
DENVER (AP) — Colorado provided 42 percent of Xcel Energy profits during the second quarter of 2011.
According to an earnings report posted Thursday, the rest came from seven other states where Xcel Energy operates.
The other states include Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin.
The company reported a 14 percent earnings increase to $159 million in the second quarter of 2011, compared with the same quarter last year.
Newly appointed chief executive Ben Frowke also predicted that Boulder's plan to replace Xcel with a municipal utility will fail on the fall ballot, according to the Denver Post.
Boulder is considering replacing Xcel with a city-owned utility to boost renewable energy and stabilize rates.