Item 8.01. Other Events
Colorado Natural Gas Rate Request OnJan. 24, 2022 ,Public Service Company of Colorado (PSCo), a wholly owned subsidiary ofXcel Energy Inc. (Xcel Energy ), filed a request with theColorado Public Utilities Commission (CPUC) seeking a net increase to retail natural gas rates of$107 million . The total change to base rates is$215 million , which reflects the transfer of$108 million previously recovered from customers through the Pipeline System Integrity Adjustment (PSIA) rider, which was closed to new investments at the end of 2021. The request is based on a 10.25% Return on Equity (ROE), an equity ratio of 55.66% and a 2022 current test year. PSCo has requested a proposed effective date ofNov. 1, 2022 . Additionally, PSCo's request includes step revenue increases of$40 million in 2023 (effectiveNov. 1, 2023 ) and$41 million in 2024 (effectiveNov. 1, 2024 ) related to continued capital investment. Under this proposal, PSCo would not request another base rate change prior toNov. 1, 2025 . An informational historical test year including a 10.75% ROE was also filed as required by the CPUC. The request supports fundamental infrastructure investments to serve customers, consistent with PSCo's obligation to provide safe, reliable service while enabling PSCo to continue to be a leader of the clean energy transition in partnership with the CPUC to achieve clean heat goals. Revenue Request (millions of dollars) 2022 Changes since 2020 rate case: Plant related investments (a)$ 210 Operations and maintenance, amortization and other expenses 11 Property tax expense 11 Sales growth (17) Net increase to revenue 215
Previously authorized costs: Transfer of costs previously recovered through the PSIA rider (108) Total base revenue request
$ 107 Projected 2022 year-end rate base (billions of dollars)$ 3.6
(a) Includes approximately
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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 our expectations regarding the
regulatory proceedings, the effective date of the rates and the projected 2022
year-end rate base, 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
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