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Xcel Energy Reports Third-Quarter Loss of $2 Billion.
Byline: Steve Raabe
Nov. 19--Xcel Energy reported a record loss of $2.07 billion in the third quarter as the utility company wrote down the value of its troubled subsidiary, NRG Energy.
Xcel also said it is moving closer to unloading NRG through a bankruptcy filing, as expected by analysts, that would turn over the struggling power-generation unit to its creditors.
Xcel also acknowledged in a regulatory filing Monday that creditors in a bankruptcy action could try to force it to cover NRG liabilities. Officials of Xcel and analysts who follow the company have said repeatedly that NRG's financial problems won't affect Xcel's utility customers because …
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- Xcel Energy Needs to Pay Creditors Before Ridding Itself of Subsidiary NRG.
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News wire article from: Saint Paul Pioneer Press (St. Paul, MN)
December 18, 2002
700+ words
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- CSFB collects $4M advising NRG on Xcel buyout.
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Newspaper article from: The Daily Deal
June 5, 2002
700+ words
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- Minneapolis-Based Xcel Credits NRG with Much of Utility's Fiscal Growth.
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News wire article from: Saint Paul Pioneer Press (St. Paul, MN)
September 28, 2000
700+ words
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- Xcel Energy extends NRG buyout offer until May 8.
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Newspaper article from: The Daily Deal
April 17, 2002
700+ words
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- NRG endorses sweetened offer from Xcel.
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Newspaper article from: The Daily Deal
April 4, 2002
700+ words
