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Xcel Energy manages utilities serving 3.8 million electric customers and 2.2 million natural gas customers in eight states. Its utilities are Northern States Power, which serves customers in Minnesota, North Dakota, South Dakota, Wisconsin, and Michigan; Public Service Company of Colorado; and Southwestern Public Service Company, which serves customers in Texas and New Mexico. It is one of the largest renewable energy suppliers in the US with more than half of its electricity sales coming from carbon-free energy.

WEC Energy Group, based in Milwaukee, is a 98%-regulated energy company serving 4.7 million utility customers in Wisconsin (about 65% of customers), Illinois (17%), Minnesota (5%) and Michigan (5%). The company is an electricity generator with transmission and distribution operations and delivers natural gas. It has over 15 utility subsidiaries, primarily We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources, and Upper Michigan Energy Resources. Its other major subsidiary, We Power, designs, builds, and owns electric generating plants. WEC's revenue by business has been approximately 75% regulated electricity generation and distribution and 22% regulated natural gas distribution. In 2023, about 14% of MWh sales were for resale customers and 4% were for wholesale, while 33% were to large industrial customers. WEC is heavily dependent on the Wisconsin economy and the dairy industry. The company's current owned generation capacity is about 9 GW with a fuel mix that is 30% coal, 33% natural gas, 20% nuclear, and 17% renewables. WEC operates two nuclear reactors. The utility has plans to reduce carbon emissions by 80% and stop using coal as a primary fuel source by 2032, in line with many peers, and to eliminate methane emissions by 2030. The company's market cap is about $32 billion.

U.S. stocks were mixed on Thursday ahead of the January jobs report. Both the S&P 500 and the Nasdaq were higher, while the Dow was down. The S&P 500 gained 0.4% and the Nasdaq was up 0.5%. The Dow fell 0.3%.

CMS Energy is an energy holding company with three principal businesses. Its regulated utility, Consumers Energy, provides regulated natural gas service to 1.8 million customers and electric service to 1.9 million customers in Michigan. NorthStar Clean Energy, formerly CMS Enterprises, is engaged in wholesale power generation, including contracted renewable energy. CMS sold EnerBank in October 2021.