Xcel Energy Inc.
PUCT Approves Rate Increase for Southwestern Public Service Company
Summary
Southwestern Public Service Company (SPS), a subsidiary of Xcel Energy Inc., has successfully secured a rate increase from the Public Utility Commission of Texas (PUCT). The PUCT approved a settlement allowing for a base rate increase of $65 million, effective back to July 13, 2023, with an interim rate effective from February 1, 2024. The settlement also includes terms such as a 9.55% return on equity, a 54.51% equity ratio, and a 7.11% weighted average cost of capital. The approval was unanimous and without modification.
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About Xcel Energy Inc.
Xcel Energy Inc. is a prominent utility company engaged in the generation, transmission, and distribution of electricity and natural gas. Primarily serving customers across eight states in the U.S., including the regions of the Midwest and Rocky Mountain areas, Xcel Energy plays a vital role in supplying energy to millions of residential, commercial, and industrial consumers. With a focus on sustainability and renewable energy, the company is actively expanding its renewable energy portfolio, investing in wind and solar power projects to reduce carbon emissions and promote cleaner energy solutions. Xcel Energy's operations are crucial for powering essential infrastructure and supporting economic activity in its service areas, making it a key player in the energy sector. Its commitment to innovation in energy production and distribution not only meets current demand but also gears towards future energy challenges in an evolving market landscape.
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