Xcel Energy Files 8-K Report

TL;DR

Xcel Energy filed a standard 8-K, no major news yet.

AI Summary

On April 11, 2024, Xcel Energy Inc. filed an 8-K report to disclose other events. The filing primarily consists of the cover page and the initial pages of the 8-K form, indicating a standard regulatory update without specific transactional details in the provided snippet.

Why It Matters

This filing serves as a public record of regulatory updates for Xcel Energy Inc. and its subsidiary Southwestern Public Service Company, ensuring transparency for investors and stakeholders.

Risk Assessment

Risk Level: low — The filing is a routine 8-K report, indicating standard regulatory disclosure rather than a significant event with immediate financial implications.

Key Players & Entities

• XCEL ENERGY INC (company) — Filer
• SOUTHWESTERN PUBLIC SERVICE CO (company) — Subsidiary Filer
• 0000072903 (company) — Central Index Key for Xcel Energy
• 0000092521 (company) — Central Index Key for Southwestern Public Service Co
• 20240411 (date) — Filing Date

FAQ

Key Financial Figures

• $2.50 — ange on which registered Common Stock, $2.50 par value per share XEL Nasdaq Stock Ma
• $158 million — ing an increase in base rate revenue of $158 million (14%). The request was based on a retu
• $3.6 billion — y ratio of 54.6%, a retail rate base of $3.6 billion and a change in the Tolk coal plant dep
• $65 million — terms include: A base rate increase of $65 million effective back to July 13, 2023. A 9.5
• $18 million — shment of a rate rider of approximately $18 million to be recovered over a three-year perio

Filing Documents

• xel-20240411.htm (8-K) — 28KB
• 0000072903-24-000089.txt ( ) — 187KB
• xel-20240411.xsd (EX-101.SCH) — 3KB
• xel-20240411_def.xml (EX-101.DEF) — 14KB
• xel-20240411_lab.xml (EX-101.LAB) — 26KB
• xel-20240411_pre.xml (EX-101.PRE) — 15KB
• xel-20240411_htm.xml (XML) — 4KB

01. Other Events

Item 8.01. Other Events In 2023, Southwestern Public Service Company (SPS), a New Mexico corporation, and a wholly owned subsidiary of Xcel Energy Inc., filed an electric rate case with the Public Utility Commission of Texas (PUCT) seeking an increase in base rate revenue of $158 million (14%). The request was based on a return on equity (ROE) of 10.65%, an equity ratio of 54.6%, a retail rate base of $3.6 billion and a change in the Tolk coal plant depreciation life from 2034 to 2028. SPS is requesting a surcharge from July 13, 2023 through the effective date of new base rates. In December 2023, SPS, PUCT Staff and intervenors filed a black box settlement. Key terms include: A base rate increase of $65 million effective back to July 13, 2023. A 9.55% ROE, a 54.51% equity ratio and a 7.11% weighted average cost of capital (WACC) for purposes of calculating SPS' allowance for funds used during construction and in other proceedings filed before the PUCT where a stated WACC is required. The reflection in rates of the retirement of Tolk Generation Station from 2034 to 2028. Establishment of a rate rider of approximately $18 million to be recovered over a three-year period for various deferred expenses. Interim rates based on the settlement went into effect on February 1, 2024. On April 11, 2024, the PUCT unanimously approved the settlement without modification. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. April 11, 2024 Xcel Energy Inc. (a Minnesota corporation) Southwestern Public Service Company (a New Mexico corporation) /s/ BRIAN J. VAN ABEL Brian J. Van Abel Executive Vice President, Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR