01—Abstract
Summary
Summary of the 8-K filed August 1, 2007. Cited figures are marked; the original filing is the authoritative source.
Xcel Energy Inc. (XEL) has reported that its wholly-owned subsidiary, Southwestern Public Service Company (SPS), filed a request for a general electric rate increase with the New Mexico Public Regulation Commission on July 30, 2007.
This filing represents the first such request by SPS in New Mexico since 1998 and seeks an overall increase in annual revenues of approximately $17.3 milliona, which equates to a 6.6% rise. The rate filing is based on a 2006 calendar year base period, adjusted for known and measurable changes.
SPS is requesting a rate of return on equity of 11.0 percent, with an electric net rate base of approximately $307.3 millionb allocated to the New Mexico retail jurisdiction and an equity ratio of 51.2 percent. Investors should note that a decision on this rate increase request is anticipated in the second quarter of 2008.
02—Key points
Key Highlights
- Southwestern Public Service Company (SPS), a subsidiary of Xcel Energy, filed for a New Mexico retail electric general rate increase on July 30, 2007.
- This is the first general rate case filed by SPS in New Mexico since 1998.
- The filing requests an annual revenue increase of approximately $17.3 million, or a 6.6% increase.
- The requested rate of return on equity is 11.0 percent.
- The electric net rate base for New Mexico retail jurisdiction is approximately $307.3 million.
- A decision on the rate increase request is expected in the second quarter of 2008.
03—Questions
Frequently Asked Questions
What is the primary purpose of this 8-K filing?
The primary purpose of this 8-K filing is to report that Xcel Energy's subsidiary, Southwestern Public Service Company (SPS), has filed a request for a general electric rate increase with the New Mexico Public Regulation Commission.
How much is SPS requesting in terms of a rate increase?
SPS is requesting an overall increase in annual revenues of approximately $17.3 million, which translates to a 6.6% increase.
When can Xcel Energy investors expect a decision on this rate increase request?
A decision on the rate increase request filed by SPS is expected in the second quarter of 2008.
What are the key financial metrics mentioned in the rate filing?
The filing requests a rate of return on equity of 11.0 percent, an electric net rate base of approximately $307.3 million allocated to the New Mexico retail jurisdiction, and an equity ratio of 51.2 percent.
04—Continue