Item 8.01. Other Events



NSP-Minnesota 2020 Electric Rate Case
On Nov. 2, 2020, NSP-Minnesota filed a three-year electric rate case with the
Minnesota Public Utilities Commission (MPUC). The request is driven by ongoing
investments in carbon free electrical generation, distribution and transmission
infrastructure. The rate case is based on a requested return on equity of 10.2%
and a 52.5% equity ratio. The request is detailed in the table below:
(Amounts in Millions, Except Increase
Percentage)                                       2021               2022               2023               Total
Rate request                                  $     406          $      98          $      93          $      597
Increase percentage                                13.2  %             3.3  %             3.2  %             19.7  %
Rate base                                     $  10,000          $  10,300          $  10,700                    N/A


In addition, NSP-Minnesota requested interim rates, subject to refund, of $309
million to be implemented in January 2021 and an incremental $96 million to be
implemented in January 2022.
NSP-Minnesota also filed a stay-out alternative in which we would withdraw our
rate case filing if the MPUC extends sales true-up, property tax and capital
trackers and deferral of certain nuclear decommissioning cost increases. The
MPUC's decision on whether to approve the stay-out alternative or proceed with
the rate case is expected in December 2020.
If the MPUC decides to proceed with the rate case alternative, NSP-Minnesota
intends to engage parties in settlement discussions in order to streamline the
process. A final MPUC decision on the rate case is anticipated in the first
quarter of 2022.












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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, 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 Xcel Energy's and NSP-Minnesota's Annual Report
on Form 10-K for the year ended Dec. 31, 2019, and subsequent filings with the
Securities and Exchange Commission, could cause actual results to differ
materially from management expectations as suggested by such forward-looking
information: uncertainty around the impacts and duration of the COVID-19
pandemic; operational safety, including our nuclear generation facilities;
successful long-term operational planning; commodity risks associated with
energy markets and production; rising energy prices and fuel costs; qualified
employee work force and third-party contractor factors; ability to recover
costs, changes in regulation and subsidiaries' ability to recover costs from
customers; reductions in our credit ratings and the cost of maintaining certain
contractual relationships; general economic conditions, including inflation
rates, monetary fluctuations and their impact on capital expenditures and the
ability of Xcel Energy Inc. and its subsidiaries to obtain financing on
favorable terms; availability or cost of capital; our customers' and
counterparties' ability to pay their debts to us; assumptions and costs relating
to funding our employee benefit plans and health care benefits; our
subsidiaries' ability to make dividend payments; tax laws; effects of
geopolitical events, including war and acts of terrorism; cyber security threats
and data security breaches; seasonal weather patterns; changes in environmental
laws and regulations; climate change and other weather; natural disaster and
resource depletion, including compliance with any accompanying legislative and
regulatory changes; and costs of potential regulatory penalties.

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