{"success":true,"data":{"pressRelease":{"id":"162030","rtpr_id":"nBwnVXMha-20261006","ticker":"XEL","exchange":"NASDAQ","all_tickers":["XEL"],"title":"Xcel Energy, SEMCO ENERGY Gas Company and Upper Peninsula Power Company announce sale of Xcel Energy’s Michigan operations","author":"Business Wire","published_at":"2026-10-06T13:20:00.138Z","article_body":"Xcel Energy, SEMCO ENERGY Gas Company and Upper Peninsula Power Company\nannounce sale of Xcel Energy’s Michigan operations\n\nXcel Energy (NASDAQ: XEL), SEMCO ENERGY Gas Company (SEMCO) and Upper\nPeninsula Power Company (UPPCO) today announced the sale of Xcel Energy’s\nMichigan natural gas operations to SEMCO and electric operations to UPPCO.\n\nThis press release features multimedia. View the full release here:\nhttps://www.businesswire.com/news/home/20261006891984/en/\n(https://www.businesswire.com/news/home/20261006891984/en/)\n\nIf approved by regulators, Xcel Energy’s 6,000 natural gas customers will be\nserved by SEMCO, and 9,000 electric customers will be served by UPPCO.\nTogether, these customers in Gogebic and Ontonagon counties will transition to\nproviders with deep local roots in the Upper Peninsula.\n\nAll three companies are working closely with regulators, community\nstakeholders and employees to ensure customers are handled with care during\nthe transition. The goal is simple: keep service reliable, make the transition\nsmooth, and continue investing in the infrastructure that serves Upper\nPeninsula communities.\n\nFor customers, service will continue without interruption during the\ntransition. There will be no immediate changes to billing, rates or customer\nservice processes and customers will be notified well in advance of any future\nchanges taking place.\n\nSEMCO, UPPCO and Xcel Energy will work together on a detailed transition plan\ndesigned to make the change as seamless and transparent as possible.\nCommunication will be timely and clear.\n\nXcel Energy said the transaction is intended to place customers with utilities\nthat are focused specifically on serving Michigan and the Upper Peninsula over\nthe long term.\n\n“We are committed to ensuring a smooth transition for our customers and\nemployees,” said Karl Hoesly, president of Xcel Energy–Wisconsin and\nMichigan. “Xcel Energy continues to invest heavily in Wisconsin and across\nits other territories, so this transaction will ensure the customers of the\nUpper Peninsula will also benefit from focused investments by SEMCO and UPPCO,\nas both bring deep regional experience providing safe and reliable service and\nare well equipped to meet customers’ long-term energy needs.”\n\n“This transaction represents a meaningful opportunity to strengthen energy\nservice for communities across the Upper Peninsula,” said Marc Simone,\npresident of SEMCO ENERGY Gas Company. “By welcoming new natural gas\ncustomers into the SEMCO system, we are reinforcing our commitment to safe,\nreliable and affordable service, while continuing to invest in the long-term\nresilience of Michigan’s energy infrastructure.”\n\nUPPCO said its long history in the region positions the company well to serve\ncustomers in the western Upper Peninsula. “As a neighboring utility with\ndeep roots in the Upper Peninsula, UPPCO is proud to expand our service to\nXcel Energy’s electric customers in Gogebic and Ontonagon counties,” said\nGradon Haehnel, president and CEO of Upper Peninsula Power Company. “We\nunderstand this region, and we are committed to delivering safe, dependable\nservice backed by local experience.”\n\nThe transition will happen gradually over time and only after required state\nand federal regulatory approvals are received. Customers do not need to take\nany action now and the companies will share updates as the regulatory process\nmoves forward. The companies expect the transaction to close in 2027.\n\nUntil then, customers should continue working with their current energy\nprovider as they do today. Additional updates will be shared throughout the\nprocess.\n\nAbout SEMCO\n\nSEMCO ENERGY Gas Company is a natural gas utility committed to safely\ndelivering reliable and affordable energy to over 325,000 customers across\nMichigan. Through its regulated utility operations, SEMCO focuses on system\nsafety, operational excellence and customer service while supporting the\ncommunities it serves.\n\nAbout UPPCO\n\nUpper Peninsula Power Company is the Upper Peninsula’s largest electric\nutility, serving approximately 52,000 customers across 4,460 square miles.\nUPPCO and its predecessors have provided dependable service and safe, reliable\nenergy to customers for more than 135 years.\n\nAbout Xcel Energy\n\nXcel Energy (NASDAQ: XEL) is a leading energy provider, dedicated to serving\nmillions of customers with excellence. We make energy work better for\ncustomers, helping them thrive every day. That means always raising the bar\n— delivering better service and providing more reliable, resilient and\nsustainable energy.\n\nWe are committed to leading the clean energy transition, meeting our\ncustomers’ need for more, cleaner power, while keeping bills as low as\npossible. Because the people we serve depend on us to power their lives.\n\nHeadquartered in Minneapolis, we work every day to generate and distribute\nelectricity and gas to customers across eight states: Minnesota, Colorado,\nWisconsin, Michigan, North Dakota, South Dakota, New Mexico and Texas. For\nmore information, visit xcelenergy.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmy.xcelenergy.com%2Fs%2F&esheet=54616694&newsitemid=20261006891984&lan=en-US&anchor=xcelenergy.com&index=1&md5=36c3009483c9a91e8781da91383ed76a)\nor follow us on X\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fx.com%2Fxcelenergy&esheet=54616694&newsitemid=20261006891984&lan=en-US&anchor=X&index=2&md5=0a02b5c393c82b29b0dd49ce9484a264)\nand Facebook\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.facebook.com%2Fxcelenergy&esheet=54616694&newsitemid=20261006891984&lan=en-US&anchor=Facebook&index=3&md5=56d069289320bab777b687da938dd741)\n.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20261006891984/en/\n(https://www.businesswire.com/news/home/20261006891984/en/)\n\nMedia Contact Information\n\nSEMCO ENERGY Gas Company: Tim Lubbers (810)488-0539\nUPPCO: Dan Freeborn (906) 232-1422\nXcel Energy: Colleen Mahoney (612) 215-5300\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBwnVXMha-20261006","title":"Xcel Energy, SEMCO ENERGY Gas Company and Upper Peninsula Power Company announce sale of Xcel Energy’s Michigan operations","author":"Business Wire","ticker":"XEL","created":"2026-10-06T13:20:00.138Z","tickers":["XEL"],"exchange":"NASDAQ","article_body":"Xcel Energy, SEMCO ENERGY Gas Company and Upper Peninsula Power Company\nannounce sale of Xcel Energy’s Michigan operations\n\nXcel Energy (NASDAQ: XEL), SEMCO ENERGY Gas Company (SEMCO) and Upper\nPeninsula Power Company (UPPCO) today announced the sale of Xcel Energy’s\nMichigan natural gas operations to SEMCO and electric operations to UPPCO.\n\nThis press release features multimedia. View the full release here:\nhttps://www.businesswire.com/news/home/20261006891984/en/\n(https://www.businesswire.com/news/home/20261006891984/en/)\n\nIf approved by regulators, Xcel Energy’s 6,000 natural gas customers will be\nserved by SEMCO, and 9,000 electric customers will be served by UPPCO.\nTogether, these customers in Gogebic and Ontonagon counties will transition to\nproviders with deep local roots in the Upper Peninsula.\n\nAll three companies are working closely with regulators, community\nstakeholders and employees to ensure customers are handled with care during\nthe transition. The goal is simple: keep service reliable, make the transition\nsmooth, and continue investing in the infrastructure that serves Upper\nPeninsula communities.\n\nFor customers, service will continue without interruption during the\ntransition. There will be no immediate changes to billing, rates or customer\nservice processes and customers will be notified well in advance of any future\nchanges taking place.\n\nSEMCO, UPPCO and Xcel Energy will work together on a detailed transition plan\ndesigned to make the change as seamless and transparent as possible.\nCommunication will be timely and clear.\n\nXcel Energy said the transaction is intended to place customers with utilities\nthat are focused specifically on serving Michigan and the Upper Peninsula over\nthe long term.\n\n“We are committed to ensuring a smooth transition for our customers and\nemployees,” said Karl Hoesly, president of Xcel Energy–Wisconsin and\nMichigan. “Xcel Energy continues to invest heavily in Wisconsin and across\nits other territories, so this transaction will ensure the customers of the\nUpper Peninsula will also benefit from focused investments by SEMCO and UPPCO,\nas both bring deep regional experience providing safe and reliable service and\nare well equipped to meet customers’ long-term energy needs.”\n\n“This transaction represents a meaningful opportunity to strengthen energy\nservice for communities across the Upper Peninsula,” said Marc Simone,\npresident of SEMCO ENERGY Gas Company. “By welcoming new natural gas\ncustomers into the SEMCO system, we are reinforcing our commitment to safe,\nreliable and affordable service, while continuing to invest in the long-term\nresilience of Michigan’s energy infrastructure.”\n\nUPPCO said its long history in the region positions the company well to serve\ncustomers in the western Upper Peninsula. “As a neighboring utility with\ndeep roots in the Upper Peninsula, UPPCO is proud to expand our service to\nXcel Energy’s electric customers in Gogebic and Ontonagon counties,” said\nGradon Haehnel, president and CEO of Upper Peninsula Power Company. “We\nunderstand this region, and we are committed to delivering safe, dependable\nservice backed by local experience.”\n\nThe transition will happen gradually over time and only after required state\nand federal regulatory approvals are received. Customers do not need to take\nany action now and the companies will share updates as the regulatory process\nmoves forward. The companies expect the transaction to close in 2027.\n\nUntil then, customers should continue working with their current energy\nprovider as they do today. Additional updates will be shared throughout the\nprocess.\n\nAbout SEMCO\n\nSEMCO ENERGY Gas Company is a natural gas utility committed to safely\ndelivering reliable and affordable energy to over 325,000 customers across\nMichigan. Through its regulated utility operations, SEMCO focuses on system\nsafety, operational excellence and customer service while supporting the\ncommunities it serves.\n\nAbout UPPCO\n\nUpper Peninsula Power Company is the Upper Peninsula’s largest electric\nutility, serving approximately 52,000 customers across 4,460 square miles.\nUPPCO and its predecessors have provided dependable service and safe, reliable\nenergy to customers for more than 135 years.\n\nAbout Xcel Energy\n\nXcel Energy (NASDAQ: XEL) is a leading energy provider, dedicated to serving\nmillions of customers with excellence. We make energy work better for\ncustomers, helping them thrive every day. That means always raising the bar\n— delivering better service and providing more reliable, resilient and\nsustainable energy.\n\nWe are committed to leading the clean energy transition, meeting our\ncustomers’ need for more, cleaner power, while keeping bills as low as\npossible. Because the people we serve depend on us to power their lives.\n\nHeadquartered in Minneapolis, we work every day to generate and distribute\nelectricity and gas to customers across eight states: Minnesota, Colorado,\nWisconsin, Michigan, North Dakota, South Dakota, New Mexico and Texas. For\nmore information, visit xcelenergy.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmy.xcelenergy.com%2Fs%2F&esheet=54616694&newsitemid=20261006891984&lan=en-US&anchor=xcelenergy.com&index=1&md5=36c3009483c9a91e8781da91383ed76a)\nor follow us on X\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fx.com%2Fxcelenergy&esheet=54616694&newsitemid=20261006891984&lan=en-US&anchor=X&index=2&md5=0a02b5c393c82b29b0dd49ce9484a264)\nand Facebook\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.facebook.com%2Fxcelenergy&esheet=54616694&newsitemid=20261006891984&lan=en-US&anchor=Facebook&index=3&md5=56d069289320bab777b687da938dd741)\n.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20261006891984/en/\n(https://www.businesswire.com/news/home/20261006891984/en/)\n\nMedia Contact Information\n\nSEMCO ENERGY Gas Company: Tim Lubbers (810)488-0539\nUPPCO: Dan Freeborn (906) 232-1422\nXcel Energy: Colleen Mahoney (612) 215-5300\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-10-06T13:20:00.185917183Z","server_sent_at_ms":1791292800185},"received_at":"2026-10-06T13:20:00.346Z","source_url":"https://www.businesswire.com/news/home/20261006891984/en/"},"analysis":{"id":"150531","press_release_id":"162030","analysis_json":{"industry":{"label":"Multi-Utilities","sector":"Utilities"},"redFlags":["no purchase price or financial terms disclosed","transaction contingent on regulatory approvals; close not expected until 2027"],"eventType":"m_and_a","narrative":"Xcel Energy agreed to sell its Michigan natural gas operations to SEMCO ENERGY Gas Company and its electric operations to Upper Peninsula Power Company.\n\nThe deal covers roughly 6,000 gas customers and 9,000 electric customers in Gogebic and Ontonagon counties, with no interruption in service expected and no disclosed sale price.\n\nClosing is expected in 2027, pending state and federal regulatory approvals; the divestiture is a small portfolio pruning move for Xcel, which serves eight states.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Small non-core divestiture -- Xcel exits tiny Michigan footprint to locally focused utilities; watch for disclosed deal value at regulatory filings."},"keyFigures":{"customDimensions":{"gas_customers":6000,"expected_close":"2027","electric_customers":9000}},"quotedText":"We are committed to ensuring a smooth transition for our customers and employees","namedEntities":{"people":[{"name":"Karl Hoesly","role":"president of Xcel Energy-Wisconsin and Michigan"},{"name":"Marc Simone","role":"president of SEMCO ENERGY Gas Company"},{"name":"Gradon Haehnel","role":"president and CEO of Upper Peninsula Power Company"}],"products":[],"companies":[{"name":"Xcel Energy","ticker":"XEL","relationship":"seller/filer"},{"name":"SEMCO ENERGY Gas Company","relationship":"buyer of natural gas operations"},{"name":"Upper Peninsula Power Company","relationship":"buyer of electric operations"}],"dollarAmounts":[]},"materialImpact":{"score":2,"reasoning":"Xcel is divesting a small, non-core Michigan footprint (~15,000 total customers) to SEMCO and UPPCO; no deal value disclosed and the transaction is subject to regulatory approval with a 2027 expected close. Materially minor relative to Xcel's eight-state, multi-million-customer footprint."},"tickerRelevance":{"others":[],"primary":"XEL"},"globalImportance":20,"audienceRelevance":25,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"large-cap-utility","eventGravity":"small-divestiture","dealTermsDisclosed":false}},"event_type":"m_and_a","event_type_secondary":null,"sentiment":"neutral","material_impact_score":2,"narrative":"Xcel Energy agreed to sell its Michigan natural gas operations to SEMCO ENERGY Gas Company and its electric operations to Upper Peninsula Power Company.\n\nThe deal covers roughly 6,000 gas customers and 9,000 electric customers in Gogebic and Ontonagon counties, with no interruption in service expected and no disclosed sale price.\n\nClosing is expected in 2027, pending state and federal regulatory approvals; the divestiture is a small portfolio pruning move for Xcel, which serves eight states.","key_figures":{"customDimensions":{"gas_customers":6000,"expected_close":"2027","electric_customers":9000}},"named_entities":{"people":[{"name":"Karl Hoesly","role":"president of Xcel Energy-Wisconsin and Michigan"},{"name":"Marc Simone","role":"president of SEMCO ENERGY Gas Company"},{"name":"Gradon Haehnel","role":"president and CEO of Upper Peninsula Power Company"}],"products":[],"companies":[{"name":"Xcel Energy","ticker":"XEL","relationship":"seller/filer"},{"name":"SEMCO ENERGY Gas Company","relationship":"buyer of natural gas operations"},{"name":"Upper Peninsula Power Company","relationship":"buyer of electric operations"}],"dollarAmounts":[]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-06T13:20:06.042Z","global_importance":20,"audience_relevance":25,"importance_components":{"tickerTier":"large-cap-utility","eventGravity":"small-divestiture","dealTermsDisclosed":false}},"durationMs":5675,"modelName":"glm-5.3-flashx"}}