# EDGAR Filing Document

**Accession Number:** 0000081018
**File Stem:** 0000072903-26-000103
**Filing Date:** 2026-6
**Character Count:** 10833
**Document Hash:** 23813203f0fcdf5bd01e41b758dafc67
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000072903-26-000103.hdr.sgml**: 20260609

**ACCESSION NUMBER**: 0000072903-26-000103

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20260605

**ITEM INFORMATION**: Other Events

**FILED AS OF DATE**: 20260609

**DATE AS OF CHANGE**: 20260609

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** XCEL ENERGY INC
- **CENTRAL INDEX KEY:** 0000072903
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC & OTHER SERVICES COMBINED [4931]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 410448030
- **STATE OF INCORPORATION:** MN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-03034
- **FILM NUMBER:** 261075512

**BUSINESS ADDRESS:**
- **STREET 1:** 414 NICOLLET MALL
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55401
- **BUSINESS PHONE:** 6123305500

**MAIL ADDRESS:**
- **STREET 1:** 414 NICOLLET MALL
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55401

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NORTHERN STATES POWER CO /MN/
- **DATE OF NAME CHANGE:** 19920703
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUBLIC SERVICE CO OF COLORADO
- **CENTRAL INDEX KEY:** 0000081018
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC & OTHER SERVICES COMBINED [4931]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 840296600
- **STATE OF INCORPORATION:** CO
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-03280
- **FILM NUMBER:** 261075513

**BUSINESS ADDRESS:**
- **STREET 1:** 3500 BLAKE STREET
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80205
- **BUSINESS PHONE:** 3035717511

**MAIL ADDRESS:**
- **STREET 1:** P O BOX 840 STE 300
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80201

?xml version='1.0' encoding='ASCII'? xel-20260605

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of**

**the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported) June 5, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Commission File Number** | **Exact Name of Registrant as Specified in its Charter; State of Incorporation; Address of Principal Executive Offices; and Telephone Number** | **Exact Name of Registrant as Specified in its Charter; State of Incorporation; Address of Principal Executive Offices; and Telephone Number** | **Exact Name of Registrant as Specified in its Charter; State of Incorporation; Address of Principal Executive Offices; and Telephone Number** | **Exact Name of Registrant as Specified in its Charter; State of Incorporation; Address of Principal Executive Offices; and Telephone Number** | **IRS Employer Identification Number** |
| 001-3034 | XCEL ENERGY INC. | XCEL ENERGY INC. | XCEL ENERGY INC. | XCEL ENERGY INC. | 41-0448030 |
|  | (a Minnesota corporation) | (a Minnesota corporation) | (a Minnesota corporation) | (a Minnesota corporation) |  |
|  | 414 Nicollet Mall | 414 Nicollet Mall | 414 Nicollet Mall | 414 Nicollet Mall |  |
|  | Minneapolis | Minnesota | Minnesota | 55401 |  |
|  | (612) | (612) | 330-5500 | 330-5500 |  |
| 001-3280 | PUBLIC SERVICE COMPANY OF COLORADO | PUBLIC SERVICE COMPANY OF COLORADO | PUBLIC SERVICE COMPANY OF COLORADO | PUBLIC SERVICE COMPANY OF COLORADO | 84-0296600 |
|  | (a Colorado corporation) | (a Colorado corporation) | (a Colorado corporation) | (a Colorado corporation) |  |
|  | 3500 Blake Street | 3500 Blake Street | 3500 Blake Street | 3500 Blake Street |  |
|  | Denver | Colorado | Colorado | 80205 |  |
|  | (303) | (303) | 571-7511 | 571-7511 |  |

---

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol** | **Name of each exchange on which registered** |
| Common Stock, $2.50 par value per share | XEL | Nasdaq Stock Market LLC |
| 6.25% Junior Subordinated Notes due 2085 | XELLL | Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ⬜

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<u>Item 8.01. Other Events</u>

In December 2025, Public Service Company of Colorado (PSCo), a wholly owned subsidiary of Xcel Energy Inc. (Xcel Energy), filed a natural gas rate case with the Colorado Public Utilities Commission (CPUC) seeking an increase in revenue of $190 million (11.6%). The request is based on a 10.75% return on equity (ROE), an equity ratio of 55% and a 2025 test year with a projected rate base of $4.7 billion.

In June 2026, 10 intervenors filed testimony, with CPUC Staff and the Colorado Office of the Utility Consumer Advocate (UCA) filing comprehensive testimony. The following modifications were proposed:

---

| | | |
|:---|:---|:---|
| **(Millions of Dollars)** | **CPUC Staff** | **UCA** |
| **PSCo rate request** | $190 | $190 |
| **Recommended adjustments:** |  |  |
| &nbsp;&nbsp;Depreciation expense <sup>(a)</sup> | (100) |  |
| &nbsp;&nbsp;Capital structure and cost of capital | (81) | (65) |
| &nbsp;&nbsp;Test year and rate base methodology | (38) | (30) |
| &nbsp;&nbsp;O&M adjustments | 12 | (9) |
| &nbsp;&nbsp;Other, net | 2 |  |
| **Total adjustments** | (205) | (104) |
| **Proposed revenue change** | $(15) | $86 |
| &nbsp;&nbsp;Depreciation expense <sup>(a)</sup> | 100 |  |
| **Proposed revenue change excluding depreciation expense** | $85 | $86 |
| ROE | 8.50% | 9.20% |
| Equity ratio | 52.5% | 50.0% |
| Rate Base Convention | 13 month | 13 month |

---

<sup>(a)</sup>Adjustments are largely earnings neutral.

The remaining procedural schedule is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rebuttal testimony: July 2, 2026

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Settlement deadline: July 8, 2026

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Hearing: July 23-31, 2026

A CPUC decision and implementation of final rates is anticipated in the fourth quarter of 2026.

------

Except for the historical statements contained in this report, the matters discussed herein are forward-looking statements that are subject to certain risks, uncertainties and assumptions. Such forward-looking statements, including those relating to expectations regarding the regulatory proceedings and the effective date of the rates, 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 PSCo's Annual Report on <u>[Form 10-K](https://www.sec.gov/ix?doc=/Archives/edgar/data/0000081018/000008101826000003/psco-20251231.htm)</u> for the fiscal year ended Dec. 31, 2025 and subsequent filings with the SEC, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: operational safety; successful long-term operational planning; risks associated with wildfires; commodity risks associated with energy markets and production; rising energy prices and fuel costs; qualified employee workforce and third-party contractor factors; reputational impacts of actions by employees, directors or third-parties; our ability to recover costs; risks associated with the growth in large load customers; changes in regulation; reductions in our credit ratings and the cost of maintaining certain contractual relationships; general economic conditions, including recessionary conditions, inflation rates, monetary fluctuations, supply chain constraints and their impact on capital expenditures and/or the ability of PSCo 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; uncertainty regarding epidemics; effects of geopolitical events, including war and acts of terrorism; cybersecurity threats and data security breaches; seasonal weather patterns; changes in environmental laws and regulations; climate change and other weather events; natural disaster and resource depletion, including compliance with any accompanying legislative and regulatory changes; costs of potential regulatory penalties and wildfire damages in excess of liability insurance coverage; regulatory changes and/or limitations related to the use of natural gas as an energy source; challenging labor market conditions and our ability to attract and retain a qualified workforce; and our ability to execute on our strategies or achieve expectations related to environmental, social and governance matters including as a result of evolving legal, regulatory and other standards, processes, and assumptions, the pace of scientific and technological developments, increased costs, the availability of requisite financing, and changes in carbon markets.

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | |
|:---|:---|
| June 9, 2026 | **Xcel Energy Inc.** (a Minnesota corporation) |
| | **Public Service Company of Colorado** (a Colorado corporation) |
| | /s/ BRIAN J. VAN ABEL |
| | Brian J. Van Abel |
| | Executive Vice President, Chief Financial Officer |

---