SPS revises NM rate case request to $75M; contested stipulation filed for $33M increase

XCEL ENERGY INC

SPS revised its New Mexico electric rate case request from $78M to $75M; stipulation proposes $33M revenue increase, opposed by two environmental groups.
Proposed ROE of 9.5% (vs. 10.75% requested); equity ratio of 54.7%; Tolk coal plant depreciation accelerated to 2028.
Hearings scheduled for Q2 2023; NMPRC decision expected in Q4 2023.
Xcel Energy reaffirms 2023 GAAP and ongoing EPS guidance of $3.30-$3.40, subject to constructive regulatory outcomes.

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