XCEL ENERGY INC — Director's Dealing 2003

Dec 17, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: XCEL ENERGY INC (XEL)
CIK: 0000072903
Period of Report: 2003-12-15

Reporting Person: LESHER CYNTHIA L (VP, Xcel Energy Services Inc.)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-12-15	Phantom Stock	$0	A	3.77	Acquired	1988-08-08	Common (3.77)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common	26623.71	Direct
Common	3894.95	Indirect

Footnotes

F1: Shares of phantom stock are payable in cash following termination of reporting person's employment.