Xcel subsidiary SPS seeks $90 million base rate increase in New Mexico stipulation

Xcel Energy Inc.

Xcel Energy Inc.

XEL

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  • Xcel Energy unit Southwestern Public Service filed a non-unanimous stipulation in its New Mexico rate case on June 22.
  • Stipulation proposes a USD 90 million base-rate increase, or 7.7%, using a future test year ending Nov. 30, 2027.
  • Proposed capital terms include 9.5% ROE, 54.7% equity ratio.
  • Hearing set for July; regulator decision expected in Q4 2026; rates targeted for December implementation.
  • Xcel reaffirmed 2026 ongoing EPS guidance of USD 4.04 to USD 4.16.


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