---
schema_version: "secwatch.filing_event.v1"
accession: "0000072903-25-000227"
form_type: "8-K"
ticker: "XEL"
cik: "0000072903"
company_name: "XCEL ENERGY INC"
filed_at: "2025-08-11T23:59:59+00:00"
generated_at: "2026-05-17T15:54:07.906467+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# PSCW Staff recommends $115M electric, $21M gas rate increases for Xcel's NSP-Wisconsin

## Summary
- PSCW Staff recommended $115M electric rate increase (14.4% over 2026-2027) vs. company request of $151M.
- Staff recommended $21M natural gas increase (12.3% over two years) vs. company request of $24M.
- Staff proposed 9.7% ROE and 53.5% equity ratio; company requested 10.0% ROE.
- Key adjustments: capital investments reduced by $15M (electric) and $1M (gas); ROE adjustment reduced $7M/$1M.
- PSCW decision expected late Q4 2025; rebuttal testimony due Aug 28, hearing Sept 16.

## SEC filing metadata
- accession: 0000072903-25-000227
- form_type: 8-K
- ticker: XEL
- cik: 0000072903
- company_name: XCEL ENERGY INC
- filed_at: 2025-08-11T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/72903/000007290325000227/0000072903-25-000227-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/72903/000007290325000227/xel-20250808.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000072903-25-000227
- JSON: https://secwatch.observer/filing/0000072903-25-000227.json
- Plain text: https://secwatch.observer/filing/0000072903-25-000227.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.