SPS (Xcel Energy unit) settles TX rate case for $65M base increase, 9.55% ROE

XCEL ENERGY INC

Settlement filed Dec. 22 provides $65M base rate increase effective July 13, 2023, vs. original $158M request.
Authorized ROE of 9.55% (down from 10.65% requested); equity ratio 54.51%; WACC 7.11%.
Tolk coal plant depreciation life accelerated from 2034 to 2028 as proposed.
Rate rider of ~$18M over three years established for deferred expenses.
PUCT decision expected in Q1 2024; settlement backed by SPS, staff, and intervenors.

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