Xcel Energy gets magazine award

For the 11th consecutive year, Xcel Energy, the electric utility that serves parts of eastern New Mexico and west Texas, has been recognized by Fortune magazine as a “World’s Most Admired Company.

According to an Xcel news release the honor went to the company for its innovation, social responsibility, financial soundness and more.

The Minneapolis-based utility ranked first in use of corporate assets and placed second overall among the most admired gas and electric companies in the United States, according to the release.

The ranking is based on nine criteria including innovation, social responsibility, financial soundness, long term investment value and quality of management.

“Xcel Energy is honored to make Fortune magazine’s list of the World’s Most Admired Companies once again. This award is a testament to our employees and their commitment to the communities we serve,” Bob Frenzel, chairman, president and CEO of Xcel Energy, said.

Xcel Energy was the first energy provider in the United States to announce its goal to provide 100% carbon-free electricity by 2050. Xcel Energy has since expanded on that commitment to become the first with comprehensive goals to reach net-zero emissions, according to the news release.

Fortune magazine partnered with Korn Ferry to conduct the survey on corporate reputation, focusing on large companies with revenue of $10 billion or more. The complete list and methodology can be found at http://www.Fortune.com.