Summary
Xcel Energy Inc.'s wholly-owned subsidiary, Southwestern Public Service Company (SPS), has filed an electric rate case in Texas. The filing seeks an approximate $90.2 million increase in annual revenue, including franchise fees, based on a test year ending June 30, 2012. The company is requesting a 10.65% return on equity and has established a jurisdictional electric rate base of $1.15 billion. Investors should note that a decision from the Public Utility Commission of Texas (PUCT) is anticipated in the second quarter of 2013, and the final rates are expected to be implemented thereafter. This filing represents a material event for SPS and potentially Xcel Energy's consolidated results, as it directly impacts revenue generation in a significant operating region.
Key Highlights
- 1Southwestern Public Service Company (SPS), a subsidiary of Xcel Energy Inc., filed a Texas electric rate case on November 15, 2012.
- 2The filing seeks an approximate $90.2 million increase in annual electric revenues, inclusive of franchise fees.
- 3The proposed rate increase is based on a twelve-month test year ending June 30, 2012, adjusted for known changes.
- 4SPS is requesting a return on equity (ROE) of 10.65%.
- 5The jurisdictional electric rate base is established at $1.15 billion.
- 6A decision from the Public Utility Commission of Texas (PUCT) and implementation of final rates are anticipated in the second quarter of 2013.