Item 8.01. Other Events.
On Nov. 3, 2008, Northern States Power Company (NSP-Minnesota), a Minnesota
Corporation and wholly owned subsidiary of Xcel Energy Inc., filed a request
with the Minnesota Public Utilities Commission (MPUC) for an overall increase in
annual revenues of approximately $156.1 million, or an increase of 6.05
percent. The rate filing is based on a 2009 calendar year budget and includes a
requested rate of return on equity of 11.00 percent, an electric net rate base
of approximately $4.062 billion allocated to the Minnesota retail jurisdiction,
and an equity ratio of 52.47 percent.
As part of this rate filing, NSP-Minnesota proposes to implement interim
electric rates effective Jan. 2, 2009. The interim rate increase is proposed in
the amount of approximately $155.1 million. The interim rates would remain in
effect until the MPUC makes its final decision on the case. Final electric base
rates will likely be put into place in late 2009.
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