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XEL > SEC Filings for XEL > Form 8-K on 23-Jun-2014All Recent SEC Filings

Show all filings for XCEL ENERGY INC

Form 8-K for XCEL ENERGY INC


23-Jun-2014

Other Events


Item 8.01. Other Events

In June 2014, Northern States Power Company (NSP-Minnesota), filed a request with the South Dakota Public Utilities Commission to increase South Dakota electric rates by $15.6 million annually, or 8.0 percent, effective Jan. 1, 2015. The request was based on a 2013 historic test year adjusted for certain known and measurable changes for 2014 and 2015, a requested return on equity of 10.25 percent, an average rate base of $433.2 million, and an equity ratio of 53.86 percent.

This request reflects NSP-Minnesota's proposal to move recovery of approximately $9.0 million for certain Transmission Cost Recovery (TCR) rider and Infrastructure rider projects to base rates.

The major components of the request are as follows:

(Millions of Dollars)                                Request
Nuclear investments and operating costs             $  13.4
Other production, transmission and distribution         5.0
Technology improvements                                 2.1
Pension and O&M                                         1.6
Wind generation facilities                              1.4
Capital structure                                       1.1
Incremental increase to base rates                  $  24.6

Infrastructure rider to be included in base rates      (8.4 )
TCR rider to be included in base rates                 (0.6 )
Net request                                         $  15.6

A procedural schedule is anticipated to be established in the second half of 2014. If NSP-Minnesota's request is approved, rates are expected to be effective in the first quarter of 2015.


Except for the historical statements contained in this 8-K, the matters discussed herein, including the expected impact of rate cases, are forward-looking statements that are subject to certain risks, uncertainties and assumptions. Such forward-looking statements are intended to be identified in this document by the words "anticipate," "believe," "estimate," "expect," "intend," "may," "objective," "outlook," "plan," "project," "possible," "potential," "should" and similar expressions. Actual results may vary materially. Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them to reflect changes that occur after that date. Factors that could cause actual results to differ materially include, but are not limited to: general economic conditions, including inflation rates, monetary fluctuations and their impact on capital expenditures and the ability of Xcel Energy Inc. and its subsidiaries (collectively, Xcel Energy) to obtain financing on favorable terms; business conditions in the energy industry; including the risk of a slow down in the U.S. economy or delay in growth recovery; trade, fiscal, taxation and environmental policies in areas where Xcel Energy Inc. and NSP-Minnesota have a financial interest; customer business conditions; actions of credit rating agencies; competitive factors including the extent and timing of the entry of additional competition in the markets served by Xcel Energy Inc. and its subsidiaries; unusual weather; effects of geopolitical events, including war and acts of terrorism; state, federal and foreign legislative and regulatory initiatives that affect cost and investment recovery, have an impact on rates or have an impact on asset operation or ownership or impose environmental compliance conditions; structures that affect the speed and degree to which competition enters the electric and natural gas markets; costs and other effects of legal and administrative proceedings, settlements, investigations and claims; actions by regulatory bodies impacting our nuclear operations, including those affecting costs, operations or the approval of requests pending before the NRC; financial or regulatory accounting policies imposed by regulatory bodies; availability of cost of capital; employee work force factors; and the other risk factors listed from time to time by Xcel Energy Inc. and NSP-Minnesota in reports filed with the Securities and Exchange Commission, including Risk Factors in Item 1A and Exhibit 99.01 of Xcel Energy Inc.'s and NSP-Minnesota's Annual Reports on Form 10-K for the year ended Dec. 31, 2013 and Quarterly Reports on Form 10-Q for the quarter ended March 31, 2014.


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