Xcel Energy to Sell Michigan Natural Gas, Electric Operations to Semco, Upper Peninsula Power

MT newswire2026/10/06 14:12

10:12 AM EDT, 10/06/2026 (MT Newswires) -- Xcel Energy (XEL) said Tuesday it has agreed to sell its Michigan natural gas operations to Semco Energy Gas Company and its electric operations to Upper Peninsula Power Company. The transaction involves transferring 6,000 gas customers and 9,000 electric customers to local providers focused on serving Michigan and the Upper Peninsula over the long term, Xcel Energy said. The deal requires state and federal regulatory approvals and is expected to close in 2027, the company said. Financial terms were not disclosed. Price: 71.66, Change: +0.17, Percent Change: +0.24

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