Summary
Xcel Energy Inc. subsidiary, Northern States Power Company (NSP-Wisconsin), has filed an application with the Public Service Commission of Wisconsin (PSCW) to reopen its 2010 electric rate case. The company is seeking a $29.1 million, or 5.4%, increase in retail electric rates, effective January 1, 2011, based on a 2011 test year. This request is primarily driven by anticipated increases in fixed charges for production and transmission infrastructure, including investments in cleaner energy sources and transmission lines, as well as rising fuel and purchased power costs.
Key Highlights
- 1NSP-Wisconsin is requesting a 5.4% increase in retail electric rates, totaling $29.1 million.
- 2The rate increase is based on a 2011 test year and is intended to be effective January 1, 2011.
- 3Key drivers for the rate increase include higher production/transmission fixed charges (especially for clean energy investments) and increased fuel/purchased power costs.
- 4The company will provide a refund of $5.8 million related to excess funds in the Monticello nuclear generating plant's decommissioning fund.
- 5The application does not propose changes to the capital structure or authorized return on equity from the 2010 rate case.
- 6The PSCW will hold public hearings on the rate request later in the fall.
- 7The filing includes forward-looking statements and lists various risks that could impact actual results.