Summary
Xcel Energy Inc.'s wholly-owned subsidiary, Southwestern Public Service Company (SPS), filed a retail electric rate case in Texas on January 7, 2014. The filing seeks a net increase in annual jurisdictional revenue of approximately $52.7 million, representing a 5.8% increase. This request includes a base rate increase, adjustments for revenue credits and the Transmission Cost Recovery Factor (TCRF), and is based on a historic test year ending June 2013. The company is requesting a return on equity of 10.40% and an electric rate base of approximately $1.27 billion.
Key Highlights
- 1Southwestern Public Service Company (SPS), an Xcel Energy subsidiary, filed a Texas retail electric rate case on January 7, 2014.
- 2The proposed rate increase seeks a net annual revenue gain of approximately $52.7 million, a 5.8% increase.
- 3The filing is based on a historic test year ending June 2013.
- 4SPS is requesting a return on equity of 10.40% and an electric rate base of $1.27 billion.
- 5A decision from the Public Utility Commission of Texas (PUCT) and implementation of final rates are expected in Q3 2014.
- 6SPS has requested interim rates of $32.6 million (40% of the proposed base rate increase) effective March 1, 2014, though interim rates are typically not granted without a settlement.