Xcel Energy has reported 2022 first quarter GAAP and ongoing earnings of $380 million, or $0.70per share, compared with $362 million, or $0.67 per share in the same period in 2021.

Earnings reflect capital investment recovery and other regulatory outcomes, partially offset by higher depreciation, interest expense and operating and maintenance expenses.

“Xcel Energy achieved solid first quarter results, and we have reaffirmed our 2022 earnings guidance,” according to Bob Frenzel, Chairman, President and CEO. “We reached constructive regulatory outcomes on several key matters, including approval of our Upper Midwest Resource Plan, the Colorado Power Pathway transmission project, and an electric rate case in Colorado.