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Xcel Energy Profit Rises on Higher Rates

Xcel Energy Inc. said third-quarter profit rose 16%, beating analyst expectations, as electric and gas margins were boosted by an increase in retail electricity rates and favorable weather.

The company also lifted the lower end of its yearly guidance and provided in-line 2016 earnings guidance.

Chief Executive Ben Fowke said the third quarter's results demonstrate successful execution of regulatory initiatives and continued cost-management efforts. He said the company is well positioned to meet the requirements of the final Clean Power Plan issued by the Environmental Protection...