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Get filing alertsXcel's Colorado gas unit files settlement for $123M rate increase, down from $190M request
Filed July 14, 2026 · Period ending July 13, 2026 · ~1 min read
Key Changes
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PSCo and multiple parties filed a non-unanimous settlement seeking a $123M (7.5%) revenue increase, down from the original $190M (11.6%) request filed in December 2025. Hearings scheduled for July 2026 with final decision expected Q4 2026.
Item 8.01 — Other Events verify on EDGAR → -
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Settlement proposes 9.2% ROE and 54.5% equity ratio, both below the original request of 10.75% ROE and 55% equity ratio. Terms would apply to PSCo's $4.7B rate base if approved.
Item 8.01 — Other Events verify on EDGAR → -
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The $123M increase represents an annual average of 3.7% since the last rate case, based on a 2025 historic test year with forward-looking known and measurable adjustments.
Item 8.01 — Other Events verify on EDGAR →
Summary
Xcel Energy's Colorado utility Public Service Company filed a settlement agreement in its natural gas rate case that would reduce the requested revenue increase by more than one-third. The settlement seeks a $123 million (7.5%) increase versus the $190 million (11.6%) originally requested in December 2025.
The compromise also lowers the return on equity to 9.2% from the requested 10.75% and the equity ratio to 54.5% from 55%. The settlement is non-unanimous, with one transportation shipper opposing and several parties not opposing or taking no position. Hearings are scheduled for July 2026, with a final decision expected in Q4 2026.
For investors, the lower ROE and revenue increase represent a regulatory compromise that balances customer rate impacts against the utility's need to earn on its $4.7 billion Colorado gas rate base. The outcome will set PSCo's gas earnings trajectory through the next rate case cycle. Watch for the CPUC's final decision in Q4 2026 to confirm whether the settlement is approved as filed or modified further.
Section-by-Section Diff
Event · Item 8.01 — Other Events
Item 8.01 — Other Events filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On July 13, 2026, PSCo, CPUC Staff, the Colorado Office of the Utility Consumer Advocate, the Colorado Energy Office, Western Resource Advocates/Sierra Club, Energy Outreach Colorado and various other parties filed a comprehensive non-unanimous settlement agreement.
PSCo and multiple parties filed a settlement agreement in the Colorado natural gas rate case. The settlement is non-unanimous, with several parties not opposing or taking no position, and one transportation shipper opposing it. Hearings are scheduled for July 2026, with a final decision expected in Q4 2026.
Added in current filing · verify on EDGAR →
Revenue increase of $123 million (7.5% total, or an annual average of 3.7% since the last rate case), based on a 2025 historic test year using average rate base with forward looking known and measurable adjustments.
The settlement proposes a $123 million revenue increase (7.5% total), significantly lower than the original $190 million (11.6%) request filed in December 2025. The increase represents an annual average of 3.7% since the last rate case and is based on a 2025 historic test year with forward-looking adjustments.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 15, 2026 · How we verify