Xcel Energy Names Fowke President and COO

Sparby named CFO; McDaniel named CAO; Poferl to head NSP-Minnesota

MINNEAPOLIS--()--Xcel Energy (NYSE:XEL) today named Benjamin G.S. Fowke III president and chief operating officer. Richard C. Kelly, who previously held the title of president, remains the company’s chairman and chief executive officer.

“Ben’s extensive financial background, in addition to his increasing operational responsibilities over the past months, make him extremely well qualified for this position,” Kelly said. “Energy companies face tremendous challenges today. Ben has an extensive knowledge of the industry and is deeply committed to Xcel Energy’s strategies of customer service, operational excellence and environmental leadership. He is an outstanding leader of the company.”

David M. Sparby, president and chief executive officer, Northern States Power Company-Minnesota, will replace Fowke as chief financial officer; and Judy M. Poferl, formerly regional vice president, NSP-Minnesota, will replace Sparby as president and chief executive officer of NSP-Minnesota, an Xcel Energy company that encompasses the Minnesota, North Dakota and South Dakota service territory. Marvin McDaniel, vice president of Human Resources, has been named to a new position as vice president and chief administrative officer for Xcel Energy.

Fowke most recently was Xcel Energy’s executive vice president and chief financial officer. Before the 2000 merger between Northern States Power Co. and New Century Energies (NCE) to form Xcel Energy, he held positions with the NCE Retail business unit, FP&L Group, the Dart Group, and KPMG. In 2002, he was named vice president and treasurer of Xcel Energy. He earned a Bachelor of Science degree in finance/accounting from Towson University and obtained his CPA in 1982. He is a member of the board of directors for American Gas Association and the Minnesota Orchestra.

Sparby joined Northern States Power Company-Minnesota in 1982 as a staff attorney, and has served as director of Gas Supply, managing director of Corporate Rates, general manager of Regulatory Services and vice president of Regulatory Affairs. In 2008, Minnesota Gov. Tim Pawlenty appointed Sparby to the Midwestern Greenhouse Gas Accord Advisory Group.

Sparby serves as a trustee on the Metropolitan State University board and on the external advisory council of the University of Minnesota Initiative for Renewable Energy and the Environment. He holds a bachelor's degree from the College of St. Scholastica; a law degree from William Mitchell College; and a master's degree in business administration from the University of St. Thomas.

As CAO, McDaniel will lead the newly named Talent and Technology Group, with responsibility for human resources and information technology. The Talent and Technology Group replaces the Customer and Enterprise Solutions (CES) business area.

McDaniel has more than 20 years of experience with the company. Before assuming his current duties, he served in numerous finance and accounting management positions, including Xcel Energy’s vice president and assistant controller. He earned a Bachelor of Science degree in Business Administration from Colorado State University and a MBA from Regis University. He is an active Certified Public Accountant licensed in the State of Colorado. He currently serves on the board of directors for Big Brothers Big Sisters of Colorado as Chairman as well as a member of its Finance and Fund Development committees.

Poferl has more than 23 years of experience in energy and regulation. She joined NSP in 1998, and subsequently assumed increasing responsibilities in the regulatory area. Before assuming her position as regional vice president, NSP-Minnesota in September 2008, she directed the Minnesota regulatory and legislative group.

Prior to joining NSP, Poferl held leadership positions in the Minnesota Department of Public Service (now Office of Energy Security) and Minnegasco (now CenterPoint Energy – Minnegasco), managing state and federal regulatory activities. She holds a bachelor’s degree in Government from the College of St. Benedict and a master’s degree in Public Affairs from the University of Minnesota’s Hubert H. Humphrey Institute of Public Affairs. She serves on the board of directors for the Minnesota Chamber of Commerce.

Xcel Energy (NYSE: XEL) is a major U.S. electricity and natural gas company with regulated operations in eight Western and Midwestern states. Xcel Energy provides a comprehensive portfolio of energy-related products and services to 3.4 million electricity customers and 1.9 million natural gas customers through its regulated operating companies. Company headquarters are located in Minneapolis.

Contacts

Xcel Energy
Xcel Energy Media Relations, 612-215-5300
www.xcelenergy.com

Contacts

Xcel Energy
Xcel Energy Media Relations, 612-215-5300
www.xcelenergy.com