Xcel Energy Michigan
MI · U-21903
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Xcel Energy Inc.
- Open matters
- 0
- Pending outcomes
- 0
- Last review
- Jul 20, 2026
Operating utilities
| Operating utility | Regulator | Rate base | Authorized ROE | Authorized equity ratio | Open matters |
|---|---|---|---|---|---|
| SPS Texas TX · electric | $9.1B | 9.55% | 54.51% | 0 | |
| Xcel Energy Michigan MI · electric, gas | $84.11M | 9.8% | 50% | 0 |
Open rate cases
View all →No open rate cases.
Recent decisions
Across operating utilities
Regulatory economics
Requested and authorized revenue
Case values remain separate by utility and docket; they are not summed across test periods.
| Utility and case | Stage | Requested | Authorized |
|---|---|---|---|
| Xcel Energy Michigan U-21565 | Complete | Not available | Not available |
| Xcel Energy Michigan U-21903 | Complete | $2.18M | $1.6M |
| SPS Texas 54634 | Complete | Not available | Not available |
ROE and rate-base history
Most recent ROE and rate-base observations by operating utility.
| Utility | Metric | Position | As of | Value |
|---|---|---|---|---|
| Xcel Energy Michigan U-21565 | Rate base | utility request | Dec 31, 2025 | $84.11M |
| SPS Texas | Rate base | disclosed actual | Dec 31, 2025 | $9,100M |
| Xcel Energy Michigan U-21903 | Return on equity | authorized | Dec 18, 2025 | 9.8% |
| Xcel Energy Michigan U-21903 | Return on equity | utility request | Dec 18, 2025 | Not specified |
| Xcel Energy Michigan | Return on equity | authorized | Dec 19, 2024 | 9.8% |
| Xcel Energy Michigan U-21565 | Return on equity | authorized | Dec 19, 2024 | Not specified |
| Xcel Energy Michigan U-21565 | Return on equity | utility request | Dec 19, 2024 | Not specified |
| SPS Texas 54634 | Return on equity | utility request | Apr 11, 2024 | Not specified |
| SPS Texas 54634 | Return on equity | authorized | Apr 11, 2024 | 9.55% |
Large-load tariffs
No published large-load tariff is linked to this parent portfolio.
Open large-load regulation →