Xcel Energy Inc.'s subsidiary Public Service Co. of Colorado (PSCo) was recently authorized a $45 million electric base rate increase based on a 9.3% return on equity (55.69% of capital) and a 6.95% return on year-end rate base valued at about $10.6 billion for a calendar-2022 test year. This follows the utility?s last electric base rate increase of $298.8 million, which was authorized in March 2022. This rate increase is in line with our base-case scenario and is reflected in our expectation of funds from operations (FFO) to debt of 20% through 2025. Although calculated using a historical test period, the combined rate increases since March 2022 support PSCo?s financial measures and help maintain its financial cushion. Prospectively, PSCo has
