Xcel Energy said its subsidiary Southwestern Public Service Company (SPS) filed an electric rate case with the New Mexico Public Regulation Commission (NMPRC) in November November 2025 seeking a revenue increase of $168 million (16.0%) as updated in March 2026. The request is based on a future test year period ending November 30, 2027, a return on equity of 10.5%, an equity ratio of 56% and a retail rate base of $3.9 billion.

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   Xcel Energy said its subsidiary Southwestern Public Service Company (SPS) filed an electric rate case with the New Mexico Public Regulation Commission (NMPRC) in November November 2025 seeking a revenue increase of $168 million (16.0%) as updated in March 2026. The request is based on a future test year period ending November 30, 2027, a return on equity of 10.5%, an equity ratio of 56% and a retail rate base of $3.9 billion.

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   The company said it expects rebuttal testimony on May 29, 2026, a hearing on July 7, 2026 and the end of rate suspension on November 30, 2026. It added that a NMPRC decision and implementation of final rates is anticipated in Q4 2026.

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