Xcel Energy wins $211M Minnesota rate hike, ROE rises to 9.60%; reaffirms 2026 EPS

Filed June 22, 2026 · Period ending June 18, 2026 · ~1 min read

Key Changes

• high

  Minnesota regulators approved a $211M rate increase over two years (2.9% annually) for NSP-Minnesota electric operations, raising allowed return on equity from 9.25% to 9.60% while maintaining 52.5% equity ratio.

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• high

  Approved rate increase is $154M below Xcel's updated $365M request, and granted 9.60% ROE falls short of the 10.3% originally sought, though company reaffirmed 2026 EPS guidance of $4.04–$4.16.

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• medium

  Decision continues existing sales true-up mechanisms and authorizes new tracker mechanisms; final written order expected by July 31, 2026.

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