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XCEL ENERGY INC 8-K Report, Corporate Update (Dec 28, 2009)

Reports
Other Events
Filing Date
Filed December 28, 2009
Period End
December 22, 2009
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 December 28, 2009. Cited figures are marked; the original filing is the authoritative source.

This 8-K filing from Xcel Energy Inc. (XEL) on December 28, 2009, primarily concerns a rate settlement reached by its subsidiary, Northern States Power Company (NSP-Minnesota), with the South Dakota Public Utilities Commission (SDPUC).

The original request was for an $18.6 milliona annual increase in South Dakota retail electric rates. The settlement agreement, filed on December 22, 2009, proposes an overall increase of approximately $10.95 million in electric base rates. Key aspects of the settlement include a 20-year extension of the Prairie Island nuclear generating plant's depreciable life, effective January 1, 2010, which will result in an approximate $3.2 million reduction in the overall rate adjustment.

The SDPUC is expected to review the settlement in early January 2010, with new rates anticipated to be effective mid-January 2010. This filing provides investors with an update on regulatory proceedings that will impact future revenue for NSP-Minnesota.

02—Key points

Key Highlights

  1. NSP-Minnesota and SDPUC Staff filed a joint motion and settlement stipulation agreement on December 22, 2009.
  2. The settlement proposes an overall increase of approximately $10.95 million in NSP-Minnesota's electric base rates.
  3. This is a reduction from the initial request for an $18.6 million annual increase in South Dakota retail electric rates.
  4. The settlement includes a 20-year extension of the Prairie Island nuclear generating plant's depreciable life, effective January 1, 2010, leading to an approximate $3.2 million reduction.
  5. The South Dakota Public Utilities Commission (SDPUC) is expected to review the settlement in early January 2010.
  6. New rates are anticipated to become effective in mid-January 2010.

03—Questions

Frequently Asked Questions

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

    The primary purpose of this 8-K filing is to report a settlement agreement reached between Xcel Energy's subsidiary, Northern States Power Company (NSP-Minnesota), and the South Dakota Public Utilities Commission (SDPUC) regarding proposed increases in South Dakota retail electric rates.

  2. What is the net impact of the settlement on NSP-Minnesota's electric rates?

    The settlement proposes an overall increase of approximately $10.95 million in NSP-Minnesota's electric base rates. This is lower than the initial request of $18.6 million.

  3. How does the extension of the Prairie Island nuclear plant's life affect the rate increase?

    The settlement recognizes a 20-year extension of the depreciable remaining life of the Prairie Island nuclear generating plant, effective January 1, 2010. This extension is expected to result in a reduction of approximately $3.2 million from the overall rate adjustment.

  4. When are the new electric rates expected to take effect?

    The South Dakota Public Utilities Commission (SDPUC) is expected to review the settlement in early January 2010, and new rates are anticipated to become effective in mid-January 2010.

04—Continue

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