Xcel subsidiary reaches $38M settlement in Minnesota natural gas rate case

NORTHERN STATES POWER CO

Settlement provides $38M revenue increase (vs. $62M filed request); weighted average cost of capital set at 7.21% (up from 7.16%).
Interim rates of $51M approved effective Jan 1, 2026; settlement reduces requested increase.
Evidentiary hearing May 11-12, 2026; ALJ report due Sept 1; MPUC decision expected Nov 2026.
Case filed Oct 2025 based on 2026 test year, 10.65% ROE, 52.5% equity ratio, $1.5B rate base.

item 8.01

Source: SEC EDGAR

accession 0000072903-26-000077

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