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SPS Texas

Southwestern Public Service Company — Texas

TX · electric

Current parent: Xcel Energy Inc.
Open cases: 0
Updated: Jul 20, 2026

Current economics

Rate base: $9.1B
Authorized ROE: 9.55%
Authorized common-equity ratio: 54.51%

Oversight and service

TX Public Utility Commission of Texaselectric

Proceedings

View all utility cases →

Southwestern Public Service rate case decided in 2020

49831 · Opened —

Closed

complete

Southwestern Public Service 2021 Texas base-rate case

51802 · Opened —

Closed

complete

Southwestern Public Service 2023 Texas base-rate case

54634 · Opened —

Closed

complete

Regulatory history

Effective date	Proceeding	ROE	Common equity	Rate base
Current	Current electric profile Electric · Latest supported values	—	—	$9.1B Disclosed actual · Dec 31, 2025
Apr 11, 2024	Southwestern Public Service 2023 Texas base-rate case 54634 · Electric Compare stages ROE Utility request — → Authorized 9.55%	9.55% Authorized · Apr 11, 2024	54.51% Authorized · Apr 11, 2024	—

View full observation log (6)

Metric	Date	Stage	Value	Scope
Annual revenue change	Apr 11, 2024	authorized	—	Total company rate-case request or Commission-authorized outcome
Annual revenue change	Apr 11, 2024	utility request	—	Total company rate-case request or Commission-authorized outcome
Return on equity	Apr 11, 2024	utility request	—	Total company rate-case request or Commission-authorized outcome
Common equity ratio	Apr 11, 2024	authorized	54.51%	Authorized only for AFUDC, PUCT proceedings requiring a stated WACC, and the specified Hale and Sagamore wind-project calculation
Rate base	Dec 31, 2025	disclosed actual	$9.1B	SPS company-estimated total rate base across Texas and New Mexico operations.
Return on equity	Apr 11, 2024	authorized	9.55%	Authorized only for AFUDC, PUCT proceedings requiring a stated WACC, and the specified Hale and Sagamore wind-project calculation