Xcel Energy Files 8-K: Other Event
Ticker: XELLL · Form: 8-K · Filed: Jul 12, 2024 · CIK: 72903
| Field | Detail |
|---|---|
| Company | Xcel Energy Inc (XELLL) |
| Form Type | 8-K |
| Filed Date | Jul 12, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $2.50, $171 m, $4.2 billion, $3.50, $3.60 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 8-k, other-event
Related Tickers: XEL
TL;DR
Xcel Energy filed an 8-K for an 'Other Event' on 7/11. Details pending.
AI Summary
On July 11, 2024, Xcel Energy Inc. announced an "Other Event" filing with the SEC. The filing, identified by accession number 0000072903-24-000167, was made public on July 12, 2024. The report pertains to Xcel Energy Inc. and its subsidiary, Public Service Co. of Colorado.
Why It Matters
This filing indicates a material event has occurred for Xcel Energy Inc. and its subsidiary, requiring public disclosure. Investors should review the details of the 'Other Event' to understand its potential impact on the company's operations or financial standing.
Risk Assessment
Risk Level: low — The filing is a standard 8-K for an 'Other Event' without immediate disclosed financial impact, suggesting a low immediate risk.
Key Players & Entities
- XCEL ENERGY INC (company) — Filer
- PUBLIC SERVICE CO OF COLORADO (company) — Subsidiary Filer
- 0000072903-24-000167 (document_id) — Accession Number
- 20240711 (date) — Report Date
- 20240712 (date) — Filing Date
FAQ
What specific event is detailed in this 8-K filing?
The filing is categorized under 'Other Events' and does not provide specific details of the event within the provided text. Further review of the full document is required.
When was this 8-K report filed with the SEC?
The report was filed as of date 20240712 and the date of report is 20240711.
Which entities are listed in this filing?
The primary entities listed are XCEL ENERGY INC and its subsidiary PUBLIC SERVICE CO OF COLORADO.
What is the Central Index Key (CIK) for Xcel Energy Inc.?
The CIK for Xcel Energy Inc. is 0000072903.
What is the SIC code for Xcel Energy Inc. and Public Service Co. of Colorado?
The Standard Industrial Classification (SIC) code for both companies is 4931, which corresponds to ELECTRIC & OTHER SERVICES COMBINED.
Filing Stats: 1,172 words · 5 min read · ~4 pages · Grade level 15.2 · Accepted 2024-07-12 16:49:56
Key Financial Figures
- $2.50 — ange on which registered Common Stock, $2.50 par value per share XEL Nasdaq Stock Ma
- $171 m — increase to retail natural gas rates of $171 million, or an approximate 9.5% increase
- $4.2 billion — 0.25% ROE, an equity ratio of 55% and a $4.2 billion retail rate base including projected ca
- $3.50 — 4 GAAP and ongoing earnings guidance of $3.50 to $3.60 per share, which is based on s
- $3.60 — d ongoing earnings guidance of $3.50 to $3.60 per share, which is based on several ke
Filing Documents
- xel-20240711.htm (8-K) — 52KB
- 0000072903-24-000167.txt ( ) — 214KB
- xel-20240711.xsd (EX-101.SCH) — 3KB
- xel-20240711_def.xml (EX-101.DEF) — 14KB
- xel-20240711_lab.xml (EX-101.LAB) — 26KB
- xel-20240711_pre.xml (EX-101.PRE) — 15KB
- xel-20240711_htm.xml (XML) — 4KB
01. Other Events
Item 8.01. Other Events Colorado Natural Gas Rate Request In January 2024, Public Service Company of Colorado (PSCo), a Colorado corporation and wholly owned subsidiary of Xcel Energy Inc. filed a request with the Colorado Public Utilities Commission (CPUC) seeking an increase to retail natural gas rates of $171 million, or an approximate 9.5% increase in the average residential customer bill. The request is based on a 2023 test year, a 10.25% ROE, an equity ratio of 55% and a $4.2 billion retail rate base including projected capital additions through Dec. 31, 2023. PSCo requested a proposed effective date of Nov. 1, 2024. PSCo has proposed to defer collection of the increased rates until Feb. 15, 2025 (following expiration of the rider to recover Winter Storm Uri costs) to mitigate customer bill impacts, with revenues for the deferred period collected over a 12-month period beginning on that date. On July 11, 202 4, three intervenors filed testimony, with CPUC Staff (Staff) and the Utility Consumer Advocate (UCA) filing comprehensive testimony. Proposed modifications: (Millions of Dollars) Staff UCA PSCo Direct Testimony $ 171 $ 171 Recommended adjustments: Capital structure and other cost of capital (48) (14) ROE (40) (31) Test year adjustments (19) (17) Capital adjustments (subject to separate review) (3) (1) Depreciation expense 15 — Other, net (4) (17) Total adjustments (99) (80) Proposed revenue change $ 72 $ 91 ROE 8.89 % 9.20 % Equity ratio 52 % 51.4 % Test Year Dec 2023 Dec 2023 Rate Base Convention 13 month average 13 month average Staff and UCA oppose the deferral of collections until Feb. 15, 2025, instead proposing Nov. 1, 2024 as the effective date for new rates. Next steps in the procedural schedule are expected to be as follows: Rebuttal testimony: Aug. 15, 2024 Settlement deadline: Aug. 27, 2024 Evidentiary hearing: Sept. 4-12, 2024 A CPUC decision is expected in the fourth quart
SIGNATURES
SIGNATURES 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. July 12, 2024 Xcel Energy Inc. (a Minnesota corporation) Public Service Company of Colorado (a Colorado corporation) /s/ BRIAN J. VAN ABEL Brian J. Van Abel Executive Vice President, Chief Financial Officer