MINNEAPOLIS--(BUSINESS WIRE)--For the eighth year in a row Xcel Energy has been honored as one of the World’s Most Admired Companies by Fortune Magazine. The Minneapolis-based utility ranked second among the most admired gas and electric companies in the country.
The ranking is based on nine criteria including innovation, social responsibility, financial soundness, long term investment value and quality of management.
“We are honored to make Fortune magazine’s list of the World’s Most Admired Companies for the eighth year in a row,” said Ben Fowke, chairman and CEO of Xcel Energy. “It’s gratifying to be recognized by our stakeholders and peers as leaders in the clean energy transition, while keeping service reliable and customer bills low.”
Xcel Energy is the first major U.S. utility to announce a commitment to reducing carbon emissions by 80% (from 2005 levels) by 2030, with a vision of delivering 100% carbon-free electricity by 2050. The company is more than halfway to that interim goal.
Fortune magazine partnered with Korn Ferry to conduct the survey on corporate reputation, focusing on large companies with revenue of $10 billion or more. The complete list can be found at www.Fortune.com.
About Xcel Energy
Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.