MPUC approves $211M rate increase for Xcel's NSP-Minnesota; ROE rises to 9.60%

NORTHERN STATES POWER CO

Verbal order grants ~$211M rate increase over two years (2.9% annually), below $365M requested.
ROE set at 9.60%, up from 9.25%; equity ratio maintained at 52.5%.
Final written order expected by July 31, 2026; Xcel reaffirms 2026 EPS guidance $4.04-$4.16.
New tracker mechanisms authorized; existing true-up mechanisms continue.

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