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XCEL ENERGY INC 8-K Report, Corporate Update (Jun 22, 2026)

Reports
Other Events
Filing Date
Filed June 22, 2026
Period End
June 18, 2026
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. Material agreement8-K · Jun ’16Jun ’16
  2. Material agreement8-K · Jun ’19Jun ’19
  3. Leadership change8-K · Aug ’21Aug ’21
  4. Leadership change8-K · Jun ’25Jun ’25

01—Abstract

Summary

Summary of the 8-K filed June 22, 2026. Cited figures are marked; the original filing is the authoritative source.

Xcel Energy Inc. (XEL) has announced a significant development regarding its Minnesota electric rate case through its subsidiary, Northern States Power Company (NSP-Minnesota).

The Minnesota Public Utilities Commission (MPUC) has issued a verbal order approving an estimated rate increase of approximately $211 milliona over two years, representing an average annual increase of 2.9%. This decision is a net positive for investors, as it is below the company's updated revenue request of $365 million filed in October 2025 and provides a clearer path to future revenue recovery. Furthermore, the MPUC has approved an increase in the authorized Return on Equity (ROE) to 9.60%, up from the current 9.25%, while maintaining the equity ratio at 52.5%.

This improved ROE is a key positive, as it enhances the company's profitability potential. The continuation of existing true-up mechanisms, including the sales true-up, along with the authorization of new tracker mechanisms, provides additional regulatory certainty and supports the recovery of costs and earnings.

02—Key points

Key Highlights

  1. MPUC verbally approved an estimated rate increase of approximately $211 million over two years for NSP-Minnesota.
  2. The approved rate increase averages 2.9% per year.
  3. Authorized Return on Equity (ROE) increased to 9.60% from 9.25%.
  4. Equity ratio maintained at 52.5%.
  5. Existing true-up mechanisms (including sales true-up) will continue.
  6. New tracker mechanisms have been authorized by the MPUC.
  7. Xcel Energy reaffirms its 2026 ongoing earnings per share guidance of $4.04 to $4.16.

03—Questions

Frequently Asked Questions

  1. What is the total estimated rate increase approved by the MPUC?

    The MPUC has verbally approved an estimated rate increase of approximately $211 million over two years for NSP-Minnesota.

  2. How does the approved Return on Equity (ROE) compare to the previous rate?

    The approved ROE is 9.60%, an increase from the current ROE of 9.25%.

  3. What is the expected timeline for the final written MPUC order?

    A final written MPUC order is expected by July 31, 2026.

  4. Does Xcel Energy maintain its 2026 earnings per share guidance?

    Yes, Xcel Energy reaffirms its 2026 ongoing earnings per share guidance of $4.04 to $4.16.

04—Continue

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