Posted: 07/02/2025 07:27 am
In 2024, Rob Berntsen, Xcel Energy's Executive Vice President and Chief Legal and Compliance Officer, commanded a total compensation package of approximately $2.79 million. This package comprised a base salary of $370,833, a $100,000 bonus, a substantial stock award of $1,950,141, incentive plan compensation of $176,930, and other financial benefits amounting to $187,115^1. Despite his significant role, compared to 2023, Berntsen's compensation pales next to that of Bob Frenzel, the Chairman, President, and CEO, who earned a total of approximately $21.36 million, highlighted by an impressive $18 million in stock awards^2.
Xcel Energy's fiscal strategies extend beyond executive compensation, as evidenced by their rigorous investor relations and commitment to sustainable practices. The company's ongoing transition towards clean energy is manifested in the extension of the Monticello Nuclear Generating Plant's operations, integral to their carbon-free vision^3. Yet, not all of Xcel's environmental moves have been greeted positively. The ranching and farming communities have criticized the company, demanding accountability for its ESG policies and its association with major wildfires in Texas, sparking calls for justice^4.
Financially, Xcel Energy continues to grow, with their stock currently trading at $68.71^5. The firm is focused on delivering shareholder value, with its robust five-year $45 billion capital expenditure plan aimed at enhancing energy infrastructure^6. The commitment to a dividend growth strategy has been steadfast, cementing its future as a Dividend Aristocrat^7.
Recent developments within the executive team should also not be overlooked. The company announced Ryan Long as the new Executive Vice President and Chief Legal and Compliance Officer, succeeding Rob Berntsen, marking a period of transition in leadership roles^8. Xcel Energy's adaptability in executive appointments signals its resolve to navigate challenges while aligning with its strategic objectives.
Overall, Xcel Energy continues to strategically manage its remuneration policies alongside a complex backdrop of operational expansions, community relations issues, and a steadfast focus on sustainability.
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1. Xcel Energy Inc., Executive Compensation 2024, SEC Filing, [Link](https://www.sec.gov/Archives/edgar/data/72903/000007290325000078/0000072903-25-000078-index.htm).
2. Xcel Energy Inc., Executive Compensation 2023, SEC Filing, [Link](https://www.sec.gov/Archives/edgar/data/72903/000007290324000082/0000072903-24-000082-index.htm).
3. Xcel Energy's Monticello Nuclear Plant Receives Federal Approval to Extend Operations, Business Wire, Jan 2, 2025.
4. Conservative Ranching, Farming, and Livestock Producer Coalition Calls For Justice, Investigation Into Xcel Energy, Business Wire, Dec 30, 2024.
5. Nasdaq, Xcel Energy Inc. Price Snapshot, Jul 2025.
6. Xcel Energy: Don't Miss Out On This Quality Dividend Grower, Seeking Alpha, May 1, 2025.
7. Xcel Energy Inc. Board Declares Dividend on Common Stock, Business Wire, May 21, 2025.
8. Xcel Energy Names Ryan Long Executive Vice President and Chief Legal and Compliance Officer, Business Wire, Jun 16, 2025.
