MINNEAPOLIS (November 8, 2002) -- On November 6, lenders to NRG Energy, Inc., a wholly owned subsidiary of Xcel Energy (NYSE: XEL), accelerated approximately $1.1 billion of NRG's debt under a construction revolver financing facility, rendering the debt immediately due and payable. This action terminated the cash collateral call extension letter in effect between NRG and its major lenders. The extension letter was previously scheduled to expire November 15.

Based on discussions with the construction revolver lenders, it is NRG's understanding that the administrative agent, Credit Suisse First Boston, issued the acceleration notice to preserve certain rights under the construction revolver financing agreements. NRG believes that the administrative agent intends to forbear in the immediate exercise of any rights and remedies against the company.

"We do not believe that the construction revolver lenders' action will affect the course of NRG's restructuring discussions," said Richard C. Kelly, NRG president and chief operating officer. "We do not believe that this action will adversely impact NRG's ongoing restructuring efforts and we will continue working with our lenders toward an overall restructuring of NRG's debt."

NRG Energy develops and operates power-generating facilities. Its operations include competitive energy production and cogeneration facilities, thermal energy production and energy resource recovery facilities.

Xcel Energy is a major U.S. electricity and natural gas company with regulated operations in 12 Western and Midwestern states. The company 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 United States. Company headquarters are located in Minneapolis.

Certain statements included in this news release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements above include, but are not limited to, the status of negotiations with lenders and progress of asset sales and restructuring efforts. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct. Factors that could cause NRG's actual results to differ materially from those contemplated in the forward-looking statements above include, among others, the actions of NRG's lenders and the satisfaction of conditions to completion of the asset sales NRG has announced.

NRG undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing review of factors that could cause NRG's actual results to differ materially from those contemplated in the forward-looking statements included in this news release should not be construed as exhaustive. For more information regarding risks and uncertainties that may affect NRG's future results, review NRG's filings with the Securities and Exchange Commission.

Investor Relations
Adam Carte, 612.373.5359
Nicole Miller, 612.373.8815

Media Relations
Meredith Moore, 612.373.8892