FALSE12/2/2024XCEL ENERGY INC0000072903MNNORTHERN STATES POWER CO0001123852MN00000729032024-12-022024-12-020000072903xel:NorthernStatesPowerCoMNMember2024-12-022024-12-02



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) December 2, 2024
Commission File NumberExact Name of Registrant as Specified in its Charter; State of Incorporation; Address of Principal Executive Offices; and Telephone NumberIRS Employer Identification Number
001-3034XCEL ENERGY INC.41-0448030
(a Minnesota corporation)
414 Nicollet Mall
MinneapolisMinnesota55401
(612)330-5500
001-31387NORTHERN STATES POWER COMPANY41-1967505
(a Minnesota corporation)
414 Nicollet Mall
MinneapolisMinnesota55401
(612)330-5500

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, $2.50 par value per shareXELNasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. £




Item 8.01. Other Events
2024 North Dakota Electric Rate Case
On Dec 2, 2024, Northern States Power Company, a Minnesota corporation (NSP-Minnesota), filed a request with the North Dakota Public Service Commission for an annual electric rate increase of approximately $45 million, or 19.3% over current rates established in 2021. The filing is based on a 2025 forecast test year and includes a requested return on equity of 10.3%, rate base of approximately $817 million and an equity ratio of 52.50%. NSP-Minnesota requested interim rates, subject to refund, of approximately $27 million to be implemented on Feb. 1, 2025.



Certain information discussed in this Current Report on Form 8-K is forward-looking information that involves risks, uncertainties and assumptions. Such forward-looking statements, including those relating to expected rate increases to customers, expectations and intentions regarding regulatory proceedings and the effective date of the rates, as well as assumptions and other statements are intended to be identified in this document by the words “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “objective,” “outlook,” “plan,” “project,” “possible,” “potential,” “should,” “will,” “would” and similar expressions. Actual results may vary materially. Forward-looking statements speak only as of the date they are made, and we expressly disclaim any obligation to update any forward-looking information. The following factors, in addition to those discussed in NSP-Minnesota’s Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2023, and subsequent filings with the SEC, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: operational safety, including our nuclear generation facilities and other utility operations; successful long-term operational planning; commodity risks associated with energy markets and production; rising energy prices and fuel costs; qualified employee workforce and third-party contractor factors; violations of our Codes of Conduct; our ability to recover costs; changes in regulation; reductions in our credit ratings and the cost of maintaining certain contractual relationships; general economic conditions, including recessionary conditions, inflation rates, monetary fluctuations, supply chain constraints and their impact on capital expenditures and/or the ability of NSP-Minnesota to obtain financing on favorable terms; availability or cost of capital; our customers’ and counterparties’ ability to pay their debts to us; assumptions and costs relating to funding our employee benefit plans and health care benefits; tax laws; uncertainty regarding epidemics, the duration and magnitude of business restrictions including shutdowns (domestically and globally), the potential impact on the workforce, including shortages of employees or third-party contractors due to quarantine policies, vaccination requirements or government restrictions, impacts on the transportation of goods and the generalized impact on the economy; effects of geopolitical events, including war and acts of terrorism; cybersecurity threats and data security breaches; seasonal weather patterns; changes in environmental laws and regulations; climate change and other weather events; natural disaster and resource depletion, including compliance with any accompanying legislative and regulatory changes; costs of potential regulatory penalties and wildfire damages in excess of liability insurance coverage; regulatory changes and/or limitations related to the use of natural gas as an energy source; challenging labor market conditions and our ability to attract and retain a qualified workforce; and our ability to execute on our strategies or achieve expectations related to environmental, social and governance matters including as a result of evolving legal, regulatory and other standards, processes, and assumptions, the pace of scientific and technological developments, increased costs, the availability of requisite financing, and changes in carbon markets.




SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

December 2, 2024
Xcel Energy Inc. (a Minnesota corporation)
Northern States Power Company (a Minnesota corporation)
/s/ BRIAN J. VAN ABEL
Brian J. Van Abel
Executive Vice President, Chief Financial Officer


v3.24.3
Cover Page
Dec. 02, 2024
Document Information [Line Items]  
Amendment Flag false
Entity Registrant Name XCEL ENERGY INC
Entity Central Index Key 0000072903
Entity Incorporation, State or Country Code MN
Document Type 8-K
Document Period End Date Dec. 02, 2024
Entity File Number 001-3034
Entity Tax Identification Number 41-0448030
Entity Address, Address Line One 414 Nicollet Mall
Entity Address, City or Town Minneapolis
Entity Address, State or Province MN
Entity Address, Postal Zip Code 55401
City Area Code (612)
Local Phone Number 330-5500
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, $2.50 par value per share
Trading Symbol XEL
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
Northern States Power Co. MN  
Document Information [Line Items]  
Entity Registrant Name NORTHERN STATES POWER CO
Entity Central Index Key 0001123852
Entity Incorporation, State or Country Code MN
Entity File Number 001-31387
Entity Tax Identification Number 41-1967505
Entity Address, Address Line One 414 Nicollet Mall
Entity Address, City or Town Minneapolis
Entity Address, State or Province MN
Entity Address, Postal Zip Code 55401
City Area Code (612)
Local Phone Number 330-5500
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