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Fair Value of Financial Assets and Liabilities (Tables)
 12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Cost and Fair Value of Nuclear Decommissioning Fund Investments
Non-derivative instruments with recurring fair value measurements:
Dec. 31, 2020
Fair Value
(Millions of Dollars)CostLevel 1Level 2Level 3NAVTotal
Nuclear decommissioning fund (a)
Cash equivalents$40 $40 $— $— $— $40 
Commingled funds787 — — — 1,041 1,041 
Debt securities528 — 572 13 — 585 
Equity securities446 1,109 2 — — 1,111 
Total$1,801 $1,149 $574 $13 $1,041 $2,777 
(a)Reported in nuclear decommissioning fund and other investments on the consolidated balance sheet, which also includes $165 million of equity investments in unconsolidated subsidiaries and $154 million of rabbi trust assets and miscellaneous investments.
Dec. 31, 2019
Fair Value
(Millions of Dollars)CostLevel 1Level 2Level 3NAVTotal
Nuclear decommissioning fund (a)
Cash equivalents$33 $33 $— $— $— $33 
Commingled funds733 — — — 935 935 
Debt securities489 — 495 13 — 508 
Equity securities485 962 2 — — 964 
Total$1,740 $995 $497 $13 $935 $2,440 
(a)Reported in nuclear decommissioning fund and other investments on the consolidated balance sheet, which also includes $155 million of equity investments in unconsolidated subsidiaries and $136 million of rabbi trust assets and miscellaneous investments.
Final Contractual Maturity Dates of Debt Securities in the Nuclear Decommissioning Fund by Asset Class
Contractual maturity dates of debt securities in the nuclear decommissioning fund as of Dec. 31, 2020:
Final Contractual Maturity
(Millions of Dollars)Due in 1 year or LessDue in 1 to 5 YearsDue in 5 to 10 YearsDue after 10 yearsTotal
Debt securities$1 $116 $211 $257 $585 
Rabbi Trust Securities Amortized Cost and Fair Value Measured on Recurrring Basis [Table Text Block]
Cost and fair value of assets held in rabbi trusts:
Dec. 31, 2020
Fair Value
(Millions of Dollars)CostLevel 1Level 2Level 3Total
Rabbi Trusts (a)
Cash equivalents$32 $32 $— $— $32 
Mutual funds60 70 — — 70 
Total$92 $102 $— $— $102 
(a)    Reported in nuclear decommissioning fund and other investments on the consolidated balance sheet.
Dec. 31, 2019
Fair Value
(Millions of Dollars)CostLevel 1Level 2Level 3Total
Rabbi Trusts (a)
Cash equivalents$17 $17 $— $— $17 
Mutual funds57 65 — — 65 
Total$74 $82 $— $— $82 
(a)    Reported in nuclear decommissioning fund and other investments on the consolidated balance sheet.
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]
Gross notional amounts of commodity forwards, options and FTRs:
(Amounts in Millions) (a)(b)
Dec. 31, 2020Dec. 31, 2019
MWh of electricity87 95 
MMBtu of natural gas175 110 
(a)Not reflective of net positions in the underlying commodities.
(b)Notional amounts for options included on a gross basis but weighted for the probability of exercise.
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] Financial impact of qualifying interest rate cash flow hedges on Xcel Energy’s accumulated other comprehensive loss, included in the consolidated statements of common stockholders’ equity and in the consolidated statements of comprehensive income:
(Millions of Dollars)202020192018
Accumulated other comprehensive loss related to cash flow hedges at Jan. 1$(80)$(60)$(58)
After-tax net unrealized losses related to derivatives accounted for as hedges(10)(23)(5)
After-tax net realized losses on derivative transactions reclassified into earnings5 3 3 
Accumulated other comprehensive loss related to cash flow hedges at Dec. 31$(85)$(80)$(60)
Derivative Instruments, Gain (Loss) [Table Text Block]
Impact of derivative activity:
Pre-Tax Fair Value
Gains (Losses) Recognized
During the Period in:
(Millions of Dollars)Accumulated
Other
Comprehensive Loss		Regulatory
(Assets) and Liabilities
Year Ended Dec. 31, 2020
Derivatives designated as cash flow hedges
Interest rate$(13)$— 
Total$(13)$— 
Other derivative instruments
Electric commodity$— $(5)
Natural gas commodity— (13)
Total$— $(18)
Year Ended Dec. 31, 2019
Interest rate$(30)$— 
Total$(30)$— 
Other derivative instruments
Electric commodity$— $8 
Natural gas commodity— (9)
Total$— $(1)
Year Ended Dec. 31, 2018
Interest rate$(7)$— 
Total$(7)$— 
Other derivative instruments
Electric commodity$— $1 
Natural gas commodity— 10 
Total$— $11 
Pre-Tax (Gains) Losses
Reclassified into Income
During the Period from:
Pre-Tax Gains
(Losses) Recognized
During the Period in Income
(Millions of Dollars)Accumulated
Other
Comprehensive Loss		Regulatory
Assets and (Liabilities)
Year Ended Dec. 31, 2020
Derivatives designated as cash flow hedges
Interest rate$7 
(a)
$— $— 
Total$7 $— $— 
Other derivative instruments
Commodity trading$— $— $(1)
(b)
Electric commodity— (3)
(c)
— 
Natural gas commodity— 10 
(d)
(13)
(d)
Total$— $7 $(14)
Year Ended Dec. 31, 2019
Derivatives designated as cash flow hedges
Interest rate$4 
(a)
$— $— 
Total$4 $— $— 
Other derivative instruments
Commodity trading$— $— $2 
(b)
Electric commodity— (5)
(c)
— 
Natural gas commodity— 2 
(d)
(7)
(d)
Total$— $(3)$(5)
Year Ended Dec. 31, 2018
Derivatives designated as cash flow hedges
Interest rate$4 
(a)
$— $— 
Total$4 $— $— 
Other derivative instruments
Commodity trading$— $— $14 
(b)
Electric commodity— (1)
(c)
— 
Natural gas commodity— (6)
(d)
(4)
(d)
Total$— $(7)$10 
(a)Recorded to interest charges.
(b)Recorded to electric operating revenues. Portions of these gains and losses are subject to sharing with electric customers through margin-sharing mechanisms and deducted from gross revenue, as appropriate.
(c)Recorded to electric fuel and purchased power. These derivative settlement gains and losses are shared with electric customers through fuel and purchased energy cost-recovery mechanisms and reclassified out of income as regulatory assets or liabilities, as appropriate.
(d)Amounts for the years ended Dec. 31, 2020 and 2019 included no settlement losses on derivatives entered to mitigate natural gas price risk for electric generation recorded to electric fuel and purchased power, subject to cost-recovery mechanisms and reclassified to a regulatory asset, as appropriate. Such losses for the year ended Dec. 31, 2018, was $1 million. Remaining settlement losses for the years ended Dec. 31, 2020, 2019 and 2018 related to natural gas operations and were recorded to cost of natural gas sold and transported. These losses are subject to cost-recovery mechanisms and reclassified out of income to a regulatory asset, as appropriate.
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] Derivative assets and liabilities measured at fair value on a recurring basis were as follows:
Dec. 31, 2020Dec. 31, 2019
Fair ValueFair Value Total
Netting (a)
TotalFair ValueFair Value Total
Netting (a)
Total
(Millions of Dollars)Level 1Level 2Level 3Level 1Level 2Level 3
Current derivative assets
Other derivative instruments:
Commodity trading$2 $67 $1 $70 $(52)$18 $3 $51 $24 $78 $(52)$26 
Electric commodity— — 20 20 (1)19 — — 21 21 (1)20 
Natural gas commodity— 9 — 9 — 9 — 6 — 6 — 6 
Total current derivative assets$2 $76 $21 $99 $(53)46 $3 $57 $45 $105 $(53)52 
PPAs (b)
3 3 
Current derivative instruments$49 $55 
Noncurrent derivative assets
Other derivative instruments:
Commodity trading$8 $66 $8 $82 $(62)$20 $9 $38 $7 $54 $(45)$9 
Total noncurrent derivative assets$8 $66 $8 $82 $(62)20 $9 $38 $7 $54 $(45)9 
PPAs (b)
10 13 
Noncurrent derivative instruments$30 $22 
Dec. 31, 2020Dec. 31, 2019
Fair ValueFair Value Total
Netting (a)
TotalFair ValueFair Value Total
Netting (a)
Total
(Millions of Dollars)Level 1Level 2Level 3Level 1Level 2Level 3
Current derivative liabilities
Other derivative instruments:
Commodity trading$4 $64 $17 $85 $(58)$27 $4 $59 $15 $78 $(63)$15 
Electric commodity— — 1 1 (1)— — — 1 1 (1)— 
Natural gas commodity— 9 — 9 — 9 — 5 — 5 — 5 
Total current derivative liabilities$4 $73 $18 $95 $(59)36 $4 $64 $16 $84 $(64)20 
PPAs (b)
17 18 
Current derivative instruments$53 $38 
Noncurrent derivative liabilities
Other derivative instruments:
Commodity trading$3 $58 $60 $121 $(47)$74 $2 $79 $32 $113 $(13)$100 
Total noncurrent derivative liabilities$3 $58 $60 $121 $(47)74 $2 $79 $32 $113 $(13)100 
PPAs (b)
57 75 
Noncurrent derivative instruments$131 $175 
    
(a)Xcel Energy nets derivative instruments and related collateral on its consolidated balance sheets when supported by a legally enforceable master netting agreement and all derivative instruments and related collateral amounts were subject to master netting agreements as of Dec. 31, 2020 and 2019. At Dec. 31, 2020 and 2019, derivative assets and liabilities include $15 million and $32 million of obligations to return cash collateral, respectively. At Dec. 31, 2020 and 2019, derivative assets and liabilities include rights to reclaim cash collateral of $6 million and $11 million, respectively. Counterparty netting amounts presented exclude settlement receivables and payables and non-derivative amounts that may be subject to the same master netting agreements.
(b)During 2006, Xcel Energy qualified these contracts under the normal purchase exception. Based on this qualification, contracts are no longer adjusted to fair value and the previous carrying value of these contracts is being amortized over the remaining contract lives along with the offsetting regulatory assets and liabilities.
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Table Text Block]
Changes in Level 3 commodity derivatives:
Year Ended Dec. 31
(Millions of Dollars)202020192018
Balance at Jan. 1$4 $29 $35 
Purchases51 44 59 
Settlements(73)(64)(59)
Net transactions recorded during the period:
Losses recognized in earnings (a)
(39)(8)(1)
Net gains (losses) recognized as regulatory assets and liabilities8 3 (5)
Balance at Dec. 31$(49)$4 $29 
(a)Level 3 losses recognized in earnings are subject to offsetting gains of derivative instruments categorized as levels 1 and 2 in the income statement.
Fair Value, by Balance Sheet Grouping [Table Text Block]
As of Dec. 31, other financial instruments for which the carrying amount did not equal fair value:
20202019
(Millions of Dollars)Carrying AmountFair ValueCarrying AmountFair Value
Long-term debt, including current portion$20,066 $24,412 $18,109 $20,227