{"url_path":"/sec/xel/8-k/2026-07-14/item-8-01","section_key":"item-8-01","section_title":"Item 8.01 Other Events","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-07-14","source_url":"https://www.sec.gov/Archives/edgar/data/72903/0000072903-26-000144-index.html","accession_number":"0000072903-26-000144","cik":"0000072903","ticker":"XEL","issuer_name":"XCEL ENERGY INC","edgar_url":"https://www.sec.gov/Archives/edgar/data/72903/0000072903-26-000144-index.html","primary_entity_key":"0000072903","primary_entity_name":"XCEL ENERGY INC"},"word_count":695,"has_tables":true,"body_markdown":"Item 8.01. Other Events\n\nIn 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.\n\nOn July 13, 2026, PSCo, CPUC Staff, the Colorado Office of the Utility Consumer Advocate, the Colorado Energy Office, Western Resource Advocates/Sierra Club, Energy Outreach Colorado and various other parties filed a comprehensive non-unanimous settlement agreement. Several parties either do not oppose or take no position on the settlement, and one transportation shipper opposes it. Key terms of the settlement include:\n\n•Revenue increase of $123 million (7.5% total, or an annual average of 3.7% since the last rate case), based on a 2025 historic test year using average rate base with forward looking known and measurable adjustments.\n\n•ROE of 9.2% and equity ratio of 54.5%.\n\nHearings to discuss the settlement are scheduled for July 2026. A CPUC decision and implementation of final rates is anticipated in the fourth quarter of 2026.\n\nExcept 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 [Form 10-K](https://www.sec.gov/ix?doc=/Archives/edgar/data/0000081018/000008101826000003/psco-20251231.htm) 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.\n\nSIGNATURES\n\nPursuant 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.\n\nJuly 14, 2026\nXcel Energy Inc. (a Minnesota corporation)\n\nPublic Service Company of Colorado (a Colorado corporation)\n\n/s/ BRIAN J. VAN ABEL\n\nBrian J. Van Abel\n\nExecutive Vice President, Chief Financial Officer"}