Item 8.01. Other Events



On Oct. 25, 2021, Northern States Power Company, a Minnesota corporation
(NSP-Minnesota), and a wholly owned subsidiary of Xcel Energy Inc., 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 ROE of 10.2% and a 52.50% equity ratio.
The request is detailed as follows:
(Amounts in Millions, Except Percentages)          2022           2023           2024         Total
Rate request                                    $    396       $    150       $    131       $ 677
Increase percentage                                 12.2  %         4.8  %         4.2  %     21.2  %
Rate base                                       $ 10,931       $ 11,446       $ 11,918            N/A


In addition, NSP-Minnesota requested interim rates, subject to refund, of $288
million to be implemented in January 2022 and an incremental $135 million to be
implemented in January 2023. To mitigate the interim increase, NSP-Minnesota
also proposed to continue a sales true-up for all customer classes in both 2022
and 2023. This would result in interim rates, subject to refund, of $190 million
to be implemented in January 2022 and an incremental $116 million to be
implemented in January 2023. A final MPUC decision on the rate case is
anticipated in the second quarter of 2023.



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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 net rate
increases to consumers and 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, 2020, 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; reductions in our credit
ratings and the cost of maintaining certain contractual relationships; general
economic conditions, including inflation rates, monetary fluctuations, supply
chain constraints and their impact on capital expenditures and/or 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; 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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