XEL » Topics » SPS - Texas Retail Electric Rate Case

This excerpt taken from the XEL 8-K filed Jul 30, 2009.
SPS — Texas Retail Electric Rate Case — In June 2008, SPS filed to increase Texas rates by $61.3 million or approximately 5.9 percent.  Base revenues were proposed to increase by $94.4 million, while fuel and purchased power declined $33.1 million primarily due to fuel savings from the Lea Power Partners LLC (LPP) purchase power agreement.   The request was based on a 2007 test-year, an ROE of 11.25 percent, an electric rate base of $989.4 million and an equity ratio of 51.0 percent.


In January 2009, a settlement agreement was reached with various intervenors, which provided for a base rate increase of $57.4 million, a reduced depreciation expense of $5.6 million, allowed SPS to implement the transmission rider in 2009 and precludes SPS from filing to seek any other change in base rates until Feb. 15, 2010.  In January 2009, an ALJ approved interim rates effective February 2009.


On June 2, 2009, The Public Utility Commission of Texas issued its order approving the settlement.


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