Xcel Energy Announces Redemption of All Series of Preferred Stock

Xcel Energy Inc. (NYSE: XEL) (Xcel Energy) today announced that on October 31, 2011 it will redeem all outstanding shares of its preferred stock at the following redemption prices:

• Cumulative Preferred Stock, $3.60 Series (CUSIP 98389B209), at a redemption price of $103.75 per share;
• Cumulative Preferred Stock, $4.08 Series (CUSIP 98389B308), at a redemption price of $102.00 per share;
• Cumulative Preferred Stock, $4.10 Series (CUSIP 98389B407), at a redemption price of $102.50 per share;
• Cumulative Preferred Stock, $4.11 Series (CUSIP 98389B506), at a redemption price of $103.732 per share;
• Cumulative Preferred Stock, $4.16 Series (CUSIP 98389B605), at a redemption price of $103.75 per share; and
• Cumulative Preferred Stock, $4.56 Series (CUSIP 98389B704), at a redemption price of $102.47 per share.

The total purchase price to complete the redemption is approximately $108 million, plus accrued but unpaid dividends.

The redemption date is October 31, 2011. Holders of preferred stock will be entitled to receive the redemption price plus accrued dividends through October 30, 2011 in respect of their shares.

Notices of redemption and related materials are being mailed to record holders of the outstanding shares of preferred stock commencing on September 29, 2011. To receive payment of the applicable redemption price, holders of shares of preferred stock must surrender their shares and return a completed Letter of Transmittal to Wells Fargo Shareowner Services.

Questions regarding the redemption of preferred stock may be directed to Wells Fargo Shareowner Services at 1-877-262-8260. Requests for additional copies of the notice of redemption and related materials should be directed to Wells Fargo Shareowner Services.