RegulatoryJun 23, 2026, 06:07 AM
Xcel Energy Subsidiary SPS Stipulates to $90M Rate Increase
AI Summary
Southwestern Public Service Company (SPS), a subsidiary of Xcel Energy, filed an electric rate case in New Mexico, initially requesting a $168 million revenue increase. A non-unanimous stipulation has been filed, proposing a $90 million base rate revenue increase, a 9.5% return on equity, and a 54.70% equity ratio. A hearing is scheduled for July 2026, with a decision anticipated in Q4 2026 and rates implemented in December 2026. Xcel Energy reaffirmed its 2026 ongoing earnings per share guidance of $4.04 to $4.16.
Key Highlights
- SPS initially requested a $168 million electric rate increase.
- Initial request was based on a 10.5% ROE and 56% equity ratio.
- Stipulation proposes a $90 million base rate revenue increase.
- This represents a 7.7% total increase, or 2.4% annual average.
- Stipulation proposes a 9.5% Return on Equity (ROE).
- Stipulation proposes an equity ratio of 54.70%.
- Xcel Energy reaffirms 2026 ongoing EPS guidance of $4.04 to $4.16.
Price Impact
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