7 October 2005 - Xcel Energy Inc. announced Thursday a definitive agreement to sell its delivery system operations in Oklahoma, Kansas and a small portion of Texas to Tri-County Electric Cooperative.
The transaction, subject to regulatory approvals, is expected to be completed in 2006. Terms of the sale were not disclosed.
Xcel Energy serves approximately 11 000 customers in the Oklahoma communities of Beaver, Boise City, Goodwell, Guymon, Keyes and Texhoma, and in Elkhart, Kan., and Texhoma, Texas, all of whom will become members of the Tri-County Cooperative if the sale is approved.
"We are proud to have served customers in these communities for many years, and we are confident that Tri-County will continue to offer quality service to customers in these areas," said Richard C. Kelly, president and CEO of Xcel Energy. "This change in ownership will be largely transparent to the customer."
Xcel Energy is a major U.S. electricity and natural gas company with regulated operations in 10 Western and Midwestern states. Xcel Energy provides a comprehensive portfolio of energy-related products and services to 3.3 million electricity customers and 1.8 million natural gas customers through its regulated operating companies. In terms of customers, it is the fourth-largest combination natural gas and electricity company in the nation. Company headquarters are located in Minneapolis. More information is available at www.xcelenergy.com.