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xcel energy ar 03 financials
Xcel Energy Inc. is a holding company that owns several regulated electric and natural gas utility subsidiaries serving customers in 11 states. In 2003, Xcel Energy directly owned five utility subsidiaries operating in the electric and natural gas segments. It also had several nonregulated subsidiaries and conducted corporate financing activities. Xcel Energy sold some subsidiaries in 2003 and classified others as discontinued operations. Regulated utility income from continuing operations decreased in 2003 primarily due to higher operating costs and weather impacts as well as share dilution. Income from discontinued operations increased due to lower losses from NRG compared to 2002.
