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Monday, Aug 19
Xcel Energy say FERC has reversed itself on complaint order brought by Golden Spread and PNM
- Xcel Energy discloses in an update that the Federal Energy Regulatory Commission has reversed itself and issued an order on rehearing and clarification related to a 2004 complaint case brought by Golden Spread and joined by Public Service Company of New Mexico.
- The combination of the order and earlier partial settlement may create a refund liability of approximately $42M for XEL including interest, which would be partially offset by a reserve that had been established the event of this outcome.
- The pre-tax impact to 2013 earnings from these orders could be approximately $35M.
- The annual impact to revenues through 2014 is approximately $6M, decreasing to $4M on June 1, 2015.