Exhibit 4.48


 


INCREASED REVOLVING COMMITMENT ACTIVATION NOTICE


 


To:          JPMORGAN
CHASE BANK, N.A., as Administrative Agent


 


Reference is hereby made to the Credit
Agreement, dated as of April 21, 2005 (as amended, supplemented or otherwise
modified from time to time, the “Credit Agreement”), among Northern
States Power Company, a Minnesota corporation (the “Borrower”), the
Lenders party thereto, the Documentation Agents and Syndication Agents named
therein and JPMorgan Chase Bank, N.A., as administrative agent for the Lenders
(in such capacity, the “Administrative Agent”).  Unless otherwise defined herein, terms
defined in the Credit Agreement and used herein shall have the meanings given
to them in the Credit Agreement.


 


This notice is the Increased Revolving Commitment
Activation Notice referred to in the Credit Agreement, and the Borrower and
each of the Lenders party hereto hereby notify you that:


 


1.                                       Each Lender
party hereto agrees to make or increase the amount of its Revolving Commitment
to the amount set forth opposite such Lender’s name on the attached Schedule
1under the caption “Increased Revolving Commitment Amount”.


 


2.                                       The Increased
Revolving Commitment Closing Date is October 31, 2005.


 


3.                                       The Borrower
hereby represents and warrants that no Default or Event of Default has occurred
and is continuing as of the date hereof and no Default or Event of Default will
exist after giving effect to the increase specified herein.


 


	
   

  	
  NORTHERN STATES POWER

  COMPANY, a Minnesota corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ George E. Tyson, II

  
	
   

  	
   

  	
  Name: 

  	
  George E. Tyson, II

  
	
   

  	
   

  	
  Title: 

  	
  Vice President and Treasurer

  



 

















 


Schedule 1


 


	
  Increased Revolving Commitment Amount

  	
   

  	
  Amarillo National Bank

  
	
   

  	
   

  
	
  $6,000,000.00

  	
   

  
	
   

  	
  By:

  	
   /s/
  Craig Sanders 

  
	
   

  	
   

  	
  Name: 

  	
  Craig Sanders 

  
	
   

  	
   

  	
  Title:

  	
  Executive Vice President

  



 

















 


	
  Increased Revolving Commitment Amount

  	
   

  	
  BNP Paribas

  
	
   

  	
   

  
	
  $18,000,000.00

  	
   

  
	
   

  	
  By:

  	
   /s/
  Mark A. Renaud

  
	
   

  	
   

  	
  Name: Mark A. Renaud

  
	
   

  	
   

  	
  Title:  
  Managing Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Francis J. DeLaney

  
	
   

  	
   

  	
  Name: Francis J. DeLaney

  
	
   

  	
   

  	
  Title:  
  Managing Director

  



 

















 


	
  Increased Revolving Commitment Amount

  	
   

  	
  Bank of America, N.A.

  
	
   

  	
   

  
	
  $20,000,000.00

  	
   

  
	
   

  	
  By:

  	
   /s/
  Michelle Schoenfeld

  
	
   

  	
   

  	
  Name: Michelle Schoenfeld

  
	
   

  	
   

  	
  Title:  
  Senior Vice President

  



 

















 


	
  Increased Revolving Commitment Amount

  	
   

  	
  Bank of New York

  
	
   

  	
   

  
	
  $24,000,000.00

  	
   

  
	
   

  	
  By:

  	
   /s/
  Cynthia D. Howells

  
	
   

  	
   

  	
  Name: Cynthia D. Howells

  
	
   

  	
   

  	
  Title:  
  Vice President

  



 

















 


	
  Increased Revolving Commitment Amount

  	
   

  	
  The Bank of Nova Scotia

  
	
   

  	
   

  
	
  $12,000,000.00

  	
   

  
	
   

  	
  By:

  	
   /s/
  Thane A. Rattew

  
	
   

  	
   

  	
  Name: 
  Thane A. Rattew

  
	
   

  	
   

  	
  Title:   
  Managing Director

  



 

















 


	
  Increased Revolving Commitment Amount

  	
   

  	
  Barclays Bank PLC

  
	
   

  	
   

  
	
  $20,000,000.00

  	
   

  
	
   

  	
  By:

  	
   /s/
  Sydney G. Dennis 

  
	
   

  	
   

  	
  Name: Sydney G. Dennis

  
	
   

  	
   

  	
  Title:  
  Director

  



 

















 


	
  Increased Revolving Commitment Amount

  	
   

  	
  Citicorp USA, Inc.

  
	
   

  	
   

  
	
  $20,000,000.00

  	
   

  
	
   

  	
  By:

  	
   /s/
  Richard J. Evans

  
	
   

  	
   

  	
  Name: Richard J. Evans

  
	
   

  	
   

  	
  Title:  
  Vice President

  



 

















 


	
  Increased Revolving Commitment Amount

  	
   

  	
  Commerzbank AG, New York and Grand 

  
	
   

  	
  Cayman Branches

  
	
   

  	
   

  
	
  $18,000,000.00

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/
  Andrew Kjoller

  
	
   

  	
   

  	
  Name: Andrew Kjoller

  
	
   

  	
   

  	
  Title:  
  Vice President

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/
  Janet Lee

  
	
   

  	
   

  	
  Name: Janet Lee

  
	
   

  	
   

  	
  Title:  
  Assistant Treasurer

  



 

















 


	
  Increased Revolving Commitment Amount

  	
   

  	
  Credit Suisse First Boston, acting through 

  
	
   

  	
  its Cayman Islands Branch

  
	
   

  	
   

  
	
  $20,000,000.00

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/
  Sarah Wu

  
	
   

  	
   

  	
  Name: Sarah Wu

  
	
   

  	
   

  	
  Title:  
  Director

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/
  Cassandra Droogan

  
	
   

  	
   

  	
  Name: Cassandra Droogan

  
	
   

  	
   

  	
  Title:  
  Associate 

  



 

















 


	
  Increased Revolving Commitment Amount

  	
   

  	
  HSBC Bank USA, National Association

  
	
   

  	
   

  
	
  $18,000,000.00

  	
   

  
	
   

  	
  By:

  	
   /s/
  Jose Aldeanueva

  
	
   

  	
   

  	
  Name: Jose Aldeanueva

  
	
   

  	
   

  	
  Title:  
  Vice President

  



 

















 


	
  Increased Revolving Commitment Amount

  	
   

  	
  Harris Nesbitt Financing, Inc.

  
	
   

  	
   

  
	
  $20,000,000.00

  	
   

  
	
   

  	
  By:

  	
   /s/
  Cahal B. Carmody

  
	
   

  	
   

  	
  Name: Cahal B. Carmody

  
	
   

  	
   

  	
  Title:   
  Vice President

  



 

















 


	
  Increased Revolving Commitment Amount

  	
   

  	
  JPMorgan Chase Bank, N.A.

  
	
   

  	
   

  
	
  $24,000,000.00

  	
   

  
	
   

  	
  By:

  	
   /s/
  Peter M. Ling

  
	
   

  	
   

  	
  Name: Peter M. Ling

  
	
   

  	
   

  	
  Title:  
  Managing Director

  



 

















 


	
  Increased
  Revolving Commitment Amount

  	
   

  	
  KBC Bank
  N.V.

  
	
   

  	
   

  
	
  $12,000,000.00

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ Eric Raskin

  
	
   

  	
   

  	
  Name: Eric
  Raskin

  
	
   

  	
   

  	
  Title:   Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ Robert Snauffer

  
	
   

  	
   

  	
  Name: Robert
  Snauffer

  
	
   

  	
   

  	
  Title:   First Vice President

  



 

















 


	
  Increased Revolving Commitment Amount

  	
   

  	
  KeyBank National Association

  
	
   

  	
   

  
	
  $20,000,000.00

  	
   

  
	
   

  	
  By:

  	
   /s/
  Keven D. Smith

  
	
   

  	
   

  	
  Name: Keven D. Smith

  
	
   

  	
   

  	
  Title:  
  Vice President

  



 

















 


	
  Increased Revolving Commitment Amount

  	
   

  	
  Lehman Brothers Bank, FSB

  
	
   

  	
   

  
	
  $18,000,000.00

  	
   

  
	
   

  	
  By:

  	
   /s/
  Janine M. Shugan

  
	
   

  	
   

  	
  Name: Janine M. Shugan

  
	
   

  	
   

  	
  Title:  
  Authorized Signatory

  



 

















 


	
  Increased Revolving Commitment Amount

  	
   

  	
  Merrill Lynch Bank USA

  
	
   

  	
   

  
	
  $18,000,000.00

  	
   

  
	
   

  	
  By:

  	
   /s/
  Derek Befus

  
	
   

  	
   

  	
  Name: 
  Derek Befus

  
	
   

  	
   

  	
  Title:   
  Vice President

  



 

















 


	
  Increased Revolving Commitment Amount

  	
   

  	
  Mizuho Corporate Bank, Ltd.

  
	
   

  	
   

  
	
  $18,000,000.00

  	
   

  
	
   

  	
  By:

  	
   /s/
  Raymond Ventura

  
	
   

  	
   

  	
  Name: Raymond Ventura

  
	
   

  	
   

  	
  Title:  
  Deputy General Manager 

  



 

















 


	
  Increased Revolving Commitment Amount

  	
   

  	
  Morgan Stanley Bank

  
	
   

  	
   

  
	
  $18,000,000.00

  	
   

  
	
   

  	
  By:

  	
   /s/
  Daniel Twenge

  
	
   

  	
   

  	
  Name: Daniel Twenge

  
	
   

  	
   

  	
  Title:  
  Vice President

  



 

















 


	
  Increased Revolving Commitment Amount

  	
   

  	
  Sumitomo Mitsui Banking Corporation

  
	
   

  	
   

  
	
  $12,000,000.00

  	
   

  
	
   

  	
  By:

  	
   /s/
  David Buck

  
	
   

  	
   

  	
  Name: David Buck

  
	
   

  	
   

  	
  Title:  
  Senior Vice President

  



 

















 


	
  Increased Revolving Commitment Amount

  	
   

  	
  The Bank of Tokyo-Mitsubishi,
  Ltd., 

  
	
   

  	
  Chicago Branch

  
	
   

  	
   

  
	
  $20,000,000.00

  	
   

  
	
   

  	
  By:

  	
   /s/
  Tsuguyuki Umene

  
	
   

  	
   

  	
  Name: Tsuguyuki Umene

  
	
   

  	
   

  	
  Title:  
  Deputy General Manager

  



 

















 


	
  Increased Revolving Commitment Amount

  	
   

  	
  The Royal Bank of Scotland plc

  
	
   

  	
   

  
	
  $20,000,000.00

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/
  Emily Freedman

  
	
   

  	
   

  	
  Name: Emily Freedman

  
	
   

  	
   

  	
  Title:  
  Vice President

  



 

















 


	
  Increased Revolving Commitment Amount

  	
   

  	
  U.S. Bank National Association

  
	
   

  	
   

  
	
  $12,000,000.00

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/
  Christine G. Dean

  
	
   

  	
   

  	
  Name: Christine G. Dean

  
	
   

  	
   

  	
  Title: 
  Assistant Vice President

  



 

















 


	
  Increased
  Revolving Commitment Amount

  	
   

  	
  UBS Loan Finance LLC

  
	
   

  	
   

  
	
  $20,000,000.00

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ Barbara Ezell-McMichael

  
	
   

  	
   

  	
  Name:
  Barbara Ezell-McMichael

  
	
   

  	
   

  	
  Title:   Associate Director

  
	
   

  	
   

  	
   Banking Products Services, US

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ Salloz Sikka

  
	
   

  	
   

  	
  Name: Salloz
  Sikka

  
	
   

  	
   

  	
  Title:   Associate Director

  
	
   

  	
   

  	
   Banking Products Services, US

  
					



 

















 


	
  Increased
  Revolving Commitment Amount

  	
   

  	
  Wells Fargo Bank, National Association 

  
	
   

  	
   

  
	
  $24,000,000.00

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ Patrick McCue

  
	
   

  	
   

  	
  Name:
  Patrick McCue

  
	
   

  	
   

  	
  Title:   Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ Jennifer D. Barrett

  
	
   

  	
  Name:
  Jennifer D. Barrett

  
	
   

  	
  Title:   Vice President & Loan Team Manager

  



 

















 


	
  Increased Revolving Commitment Amount

  	
   

  	
  William Street Commitment Corporation

  
	
   

  	
   

  
	
  $18,000,000.00

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/
  Mark Walton

  
	
   

  	
   

  	
  Name: Mark Walton

  
	
   

  	
   

  	
  Title:  
  Assistant Vice President