Xcel Energy to Sell Michigan Gas and Electric Operations

Key Facts

1Xcel Energy announced plans to sell its gas and electric operations in Michigan.

Xcel Energy announced plans to sell its gas and electric operations in Michigan. Seeking Alpha reported that the company reached an agreement to divest its natural gas business to SEMCO Energy Gas Company and its electric operations to Upper Peninsula Power Company, though financial terms were not disclosed.

XEL closed at $71.49 on October 5, 2026, having traded between a day high of $71.93 and a day low of $70.76. The move is part of a strategic portfolio optimization to focus on core markets, and the completion of the sale remains subject to approval by state regulators.