Xcel Energy Inc.
Northern States Power Company Files for Electric Rate Increase in South Dakota
Summary
On June 30, 2025, Northern States Power Company, a subsidiary of Xcel Energy Inc., filed a request with the South Dakota Public Utilities Commission for a net annual electric rate increase of $44 million (15%). The filing is based on a 2024 historic test year, a requested return on equity of 10.3%, rate base of approximately $1.2 billion, and an equity ratio of 52.87%. If approved, the rate increase would result in an average annual residential bill increase of 3% from 2016-2026. The requested rates are set to begin on January 1, 2026.
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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.
Official SEC Documents
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