The company reported net income of $261.2m, or 52 cents per share, versus $236.5m, or 48 cents a year earlier. Revenue rose to $3.2bn compared to $2,78bn in first quarter 2013.

Xcel’s utility subsidiaries serve the Upper Midwest, Colorado, New Mexico and Texas Panhandle, which is experiencing a wind boom.

On 1 January, Xcel had 5.08GW of wind - 328MW under direct ownership and 4.752GW