Xcel Energy announces management changes at NRG Energy


MINNEAPOLIS, Minn., June 3, 2002 — Xcel Energy Inc. recently announced management changes at NRG Energy, following the earlier announcement that Xcel Energy has accepted all of the shares of NRG common stock that were tendered by NRG shareholders prior to the expiration of Xcel Energy’s exchange offer.

* David H. Peterson, chairman, president and CEO of NRG, announced his retirement recently, and Leonard A. Bluhm, executive vice president and chief financial officer, announced his resignation.

* Wayne H. Brunetti, chairman, president and CEO of Xcel Energy, will assume the interim leadership position, acting as chairman and CEO of NRG, effective recently.

* Richard C. Kelly, president of Xcel Energy Enterprises, will be acting president and chief operating officer of NRG. He will be responsible for the full integration of NRG into Xcel Energy, and will report to Brunetti.

* Edward J. (Jim) McIntyre, vice president and chief financial officer of Xcel Energy, will assume responsibility for all financial aspects of NRG, along with Xcel Energy.

* Paul J. Bonavia, Xcel Energy’s president – Energy Markets, will have responsibility for integrating the NRG trading and marketing activities into Xcel Energy.

* David M. Wilks, Xcel Energy’s president – Energy Supply, will assume responsibility for all NRG generating plants.

* Craig A. Mataczynski, senior vice president, NRG Energy, Inc., and president and CEO, NRG North America, will retain his current responsibilities for growth and development of NRG North America. He will report to Kelly to assist with the full integration of NRG into Xcel Energy.

“NRG’s management has done an outstanding job growing and developing the company into one of the leading independent power producers in the world,” Kelly said. “Recently, however, we’re operating in a significantly changed business environment.” He stressed that the focus will be on managed growth, divesting significant NRG assets and concentrating on management of unregulated domestic projects.

Xcel Energy is a major U.S. electricity and natural gas company with operations in 12 Western and Midwestern states. Formed by the merger of Denver-based New Century Energies and Minneapolis-based Northern States Power Co., Xcel Energy provides a comprehensive portfolio of energy-related products and services to 3.2 million electricity customers and 1.7 million natural gas customers through its regulated operating companies.

In terms of customers, it is the fourth-largest combination natural gas and electricity company in the nation. Company headquarters are located in Minneapolis. More information is available at www.xcelenergy.com.

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