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XCEL ENERGY INC 8-K Report, Financial Results (Mar 19, 2007)

Reports
Earnings & Results·Other Events·Exhibits & Filings
Filing Date
Filed March 19, 2007
Period End
March 9, 2007
Securities
XELXELLL
In the record · 2016–202610-K1110-Q328-K247

XEL filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 247 current reports (8-K) between 2016 and 2026.

  1. FY2016 annual report10-K · Feb ’17Feb ’17
  2. Material agreement8-K · Dec ’19Dec ’19
  3. Leadership change8-K · Mar ’22Mar ’22
  4. Leadership change8-K · Dec ’25Dec ’25

01—Abstract

Summary

Summary of the 8-K filed March 19, 2007. Cited figures are marked; the original filing is the authoritative source.

Xcel Energy Inc. (XEL) filed an 8-K on March 19, 2007, primarily to report on regulatory proceedings and investor presentations.

The most significant event detailed is the ongoing Minnesota gas rate case for its subsidiary, Northern States Power Company (NSP-Minnesota). NSP-Minnesota initially requested an annual revenue increase of approximately $18.5 milliona (2.4%) to support its operations and requested a return on equity of 11.00%. However, interveners in the case, including the Minnesota Department of Commerce and the Office of Attorney General, have filed testimony recommending lower revenue increases and lower rates of return on equity.

The Department of Commerce proposed an $8.6 millionb revenue increase and a 9.71% return on equity, while the Attorney General proposed an 8.16% overall rate base return. Both parties also expressed opposition to a proposed decoupling mechanism, suggesting it be examined separately.

The Energy CENTS Coalition, however, supported the decoupling mechanism. An interim rate increase of approximately $15.8 millionc was already in effect.

02—Key points

Key Highlights

  1. Xcel Energy Inc. (XEL) is providing an update on a Minnesota gas rate case for its subsidiary NSP-Minnesota.
  2. NSP-Minnesota initially requested an approximate $18.5 million (2.4%) increase in annual gas revenues.
  3. Key interveners, including the Minnesota Department of Commerce and Office of Attorney General, have recommended significantly lower revenue increases and return on equity figures.
  4. The Minnesota Department of Commerce proposed an $8.6 million revenue increase and a 9.71% return on equity.
  5. The Office of Attorney General proposed an 8.16% overall rate base return.
  6. Opposition to NSP-Minnesota's proposed decoupling mechanism was noted by the Department of Commerce and Attorney General, who suggested separate exploration.
  7. An interim rate increase of approximately $15.8 million was already implemented in January 2007.

03—Questions

Frequently Asked Questions

  1. What is the main purpose of this 8-K filing?

    This 8-K filing primarily serves to update investors on the progress of a Minnesota gas rate case involving Xcel Energy's subsidiary, NSP-Minnesota, and to announce upcoming investor presentations.

  2. What is NSP-Minnesota requesting in the gas rate case?

    NSP-Minnesota is requesting an increase in annual gas revenues of approximately $18.5 million, which represents a 2.4% increase. They are also seeking a return on equity of 11.00%.

  3. What are the interveners' positions on NSP-Minnesota's rate request?

    Key interveners, such as the Minnesota Department of Commerce and the Office of the Attorney General, have recommended lower revenue increases and lower rates of return on equity compared to NSP-Minnesota's proposal. They generally oppose the proposed decoupling mechanism, suggesting it be addressed outside the current rate case.

  4. Has any rate increase already been implemented?

    Yes, an interim rate increase of approximately $15.8 million was effective January 8, 2007, while the full rate case proceeds.

04—Continue

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