Xcel Energy Inc 8-K Filing

FAQ

Key Financial Figures

• $2.50 — ange on which registered Common Stock, $2.50 par value per share XEL Nasdaq Stock Ma
• $126 million — ult in a rate increase of approximately $126 million for the electric utility ($68 million i
• $68 million — $126 million for the electric utility ($68 million in 2026, with an incremental $58 millio
• $58 million — 68 million in 2026, with an incremental $58 million in 2027) and $22 million for the natura
• $22 million — an incremental $58 million in 2027) and $22 million for the natural gas utility ($18 millio
• $18 million — 22 million for the natural gas utility ($18 million in 2026, with an incremental $4 million
• $4 million — 18 million in 2026, with an incremental $4 million in 2027), based on a ROE of 9.8% and an

Filing Documents

• xel-20251106.htm (8-K) — 47KB
• 0000072903-25-000259.txt ( ) — 223KB
• xel-20251106.xsd (EX-101.SCH) — 3KB
• xel-20251106_def.xml (EX-101.DEF) — 17KB
• xel-20251106_lab.xml (EX-101.LAB) — 31KB
• xel-20251106_pre.xml (EX-101.PRE) — 18KB
• xel-20251106_htm.xml (XML) — 6KB

01. Other Events

Item 8.01. Other Events Wisconsin Electric and Natural Gas Rate Request In March 2025, Northern States Power Company-Wisconsin (NSP-Wisconsin), a wholly owned subsidiary of Xcel Energy Inc., filed a request with the Public Service Commission of Wisconsin (PSCW) for a multi-year electric and natural gas rate increase. Both the electric and natural gas rate requests are based on forward-looking 2026 and 2027 test years, with a 10.0% return on equity (ROE) and an equity ratio of 53.5%. On Nov. 6, 2025, the PSCW verbally made a decision on NSP-Wisconsin's request. NSP-Wisconsin estimates that the PSCW final order would result in a rate increase of approximately $126 million for the electric utility ($68 million in 2026, with an incremental $58 million in 2027) and $22 million for the natural gas utility ($18 million in 2026, with an incremental $4 million in 2027), based on a ROE of 9.8% and an equity ratio of 52.5%. (Millions of Dollars) Electric Natural Gas NSP-Wisconsin's filed two-year rate request $ 151 $ 24 PSCW verbal decision: Capital investments (8) (1) Rate of return (7) (1) O&M expenses (5) (1) Nuclear decommissioning accrual update (a) (6) — Excess liability insurance deferral recovery 4 1 Other, net (3) — Approved two-year revenue change $ 126 $ 22 (a) Since filing the case, the Minnesota Public Utilities Commission authorized a reduction to the annual nuclear decommissioning accrual. This reduction, which flows to NSP-Wisconsin through the interchange agreement, reduced the NSP-Wisconsin rate request and is earnings neutral. A final written PSCW order is expected in December 2025 with new rates effective in January 2026. Certain information discussed in this Current Report on Form 8-K is forward-looking information that involves risks, uncertainties and assumptions. Such forward-looking statements, including those relating to expected rate increases to customers, expectations and intentions regarding regulatory proceedings and the effe

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. November 7, 2025 Xcel Energy Inc. (a Minnesota corporation) Northern States Power Company (a Wisconsin corporation) /s/ BRIAN J. VAN ABEL Brian J. Van Abel Executive Vice President, Chief Financial Officer

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