This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Xcel Energy Third Quarter 2013 Earnings Report

On Sept. 3, 2013, the MPUC issued an order approving a rate increase of approximately $103 million, or 3.8 percent, based on a 9.83 percent ROE and 52.56 percent equity ratio. In addition, the MPUC authorized approximately $20 million in deferrals, as well as a $24 million reduction in revenue and depreciation expense.

The table below reconciles NSP-Minnesota’s original request to the final MPUC order:

       

Administrative Law

   

Judge (ALJ)

(Millions of Dollars) NSP-Minnesota Request Recommendation MPUC Order
NSP-Minnesota original request $ 285 $ 285 $ 285
ROE (43 ) (43 )
Sherco Unit 3 (35 ) (38 ) (34 )
Reduced recovery for nuclear plants (11 ) (14 ) (15 )
Incentive compensation (3 ) (4 ) (4 )
Sales forecast (1 ) (26 ) (26 )
Pension (10 ) (13 ) (13 )
Employee benefits (4 ) (6 ) (6 )
Black Dog remediation (5 ) (5 ) (5 )
Estimated impact of the theoretical depreciation reserve (24 )
NSP-Wisconsin wholesale allocation (7 ) (7 ) (7 )
Other, net   (2 ) (5 )
Recommended rate increase 209 127 103
Estimated impact of cost deferrals 50 34 20
Estimated impact of the theoretical depreciation reserve     24  
Impact on pre-tax income $ 259   $ 161   $ 147  
 

NSP-Minnesota filed its final rate implementation and interim rate refund compliance filing on Sept. 19, 2013, requesting final rates be implemented Dec. 1, 2013, with interim rate refunds of approximately $132.2 million, including interest, to begin by January 2014. The Office of the Attorney General requested the MPUC to reconsider its Sept. 3, 2013 order with respect to the calculation of AFUDC. NSP-Minnesota has filed a response opposing the motion. Both items are pending MPUC action.

8 of 21

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
SYM TRADE IT LAST %CHG

Markets

DOW 18,285.74 +0.34 0.00%
S&P 500 2,130.82 +4.97 0.23%
NASDAQ 5,090.7940 +19.0510 0.38%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs