Xcel Energy Inc. (XEL)

Electric and gas utility in eight states. Read October 19, 2026 from the annual report for the period ending December 31, 2025, filed February 25, 2026. Ranked 18 of the 27 Utilities companies read so far, by the share within reach now.

Xcel Energy's human capital excerpt states that 5,036 employees, about 44%, were covered by collective bargaining agreements at December 31, 2025 but no total, so the headcount is not stated, and the electric and natural gas businesses take their shares by revenue (c).

The figures on this page come from the company's own annual report and from BLS staffing patterns for its industries, never from a roster. They are estimates with a stated method. Nothing here says what the company will do: within reach is not a forecast of jobs lost or of savings.

What follows from the reading

Share of working time within reach of AI, on the long-run pace at four in five: 21% now, 35% at the end of 2027, 41% at the end of 2028, 45% at the end of 2030. By the patterns, the work is about 45% desk work, 15% people work and 40% body work. These are the site's industry estimates weighted by the shares below: estimates with a stated method and range, not a forecast of what the company will do. By the same patterns, at the end of 2028 about 52% of the working time stays with people (conversation, in-person and hands-on work), 38% becomes checking a model's work and 6% could be handed over with lighter checks, from the industries' own figures, not the company's roles.

Headcount

Not stated in the filing. By territory: the filing's utilities serve Minnesota, Wisconsin, Michigan, the Dakotas, Colorado, Texas and New Mexico; no country share is stated.

The filing: “As of Dec. 31, 2025, approximately 44% of our employees (5,036) were covered by collective bargaining agreements.”

The workforce as industry patterns

What the filing says about the workforce: The excerpt states that 5,036 employees, about 44%, were covered by collective bargaining agreements at December 31, 2025, which implies about 11,400 in all; the data service's figure from the annual report is 11,534; the excerpt carries no total.

Companies read with the same leading pattern

Other companies whose largest staffing pattern is also Electric Power Generation, Transmission and Distribution, largest first, each read from its own annual report. Within reach now and at the end of 2028, long-run pace, four in five.

• The Southern Company (SO, 29,800 employees)22% now, 45% by 2028
• PG&E Corporation (PCG, 29,010 employees)21% now, 42% by 2028
• Duke Energy Corporation (DUK, 26,441 employees)21% now, 41% by 2028
• Exelon Corporation (EXC, 20,571 employees)22% now, 45% by 2028
• American Electric Power Company, Inc. (AEP, 17,581 employees)24% now, 50% by 2028
• NextEra Energy, Inc. (NEE, 17,400 employees)21% now, 41% by 2028
• NRG Energy, Inc. (NRG, 16,702 employees)19% now, 32% by 2028
• Consolidated Edison, Inc. (ED, 15,407 employees)21% now, 42% by 2028

What the filing says about AI

3 sentences in the filing name AI. The filing names AI and data centers as the source of robust new demand in its territories, and AI and large language models as a source of cybersecurity and operational risk.

• “New demand remains robust in our territories as we fuel the rapid growth from AI and data centers, industrial electrification and electric vehicle adoption.”
• “Advancements in artificial intelligence and large language models may increase cybersecurity threats and operational risks.”
• “Threat actors may use artificial intelligence to enhance their attacks, increasing the frequency, sophistication and potential impact of cyber incidents affecting our IT and OT environment.”

Its annual reports, year by year

Sentences naming AI in each annual report, counted by one rule, beside the median report in the Index that year. Each count links its filing. Every company, by year and sector

• Fiscal 20210median 0
• Fiscal 20221median 0
• Fiscal 20233median 1
• Fiscal 20244median 4
• Fiscal 20253median 10

Headcount by filing year

As reported in each year's annual report, with the filing. A year marked not read had no figure the reading could take from the report's text.

Limits of this reading

• The excerpt states no total headcount, only the union count and share (5,036, 44%); the headcount is recorded as not stated, with the data service's 11,534 in the notes.
• No count by business: the split between electric and gas is by revenue (c).
• The U.S. share is by territory, not a stated count.

Source: the company's annual report on EDGAR, accession 0000072903-26-000009, the filing. Read by Claude Fable 5.1 under rubric version 1, by the method. A company can write to info@stratussc.com to have its reading checked against its filing.