XCEL ENERGY INC — Director's Dealing 2003

Dec 31, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: XCEL ENERGY INC (XEL)
CIK: 0000072903
Period of Report: 2003-12-29

Reporting Person: BURGESS C CONVEY (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-12-29	Phantom Stock Units	$0	A	581.65	Acquired	1988-08-08	Common (581.65)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common	5156.24	Direct
Common	3638.29	Indirect

Footnotes

F1: Security converts to common stock on a one-for-one basis.

F2: Shares of phantom stock are payable in shares of common stock following termination of reporting person's service. Partial share
s are payable in cash.