Xcel Energy maintains 2022 earnings guidance after rate settlement
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Xcel Energy (XEL
-0.1%) reaffirms guidance for FY 2022 GAAP EPS of $3.10-$3.20, in line with the $3.17 analyst consensus estimate, according to a new 8-K filing.
Xcel and Colorado Public Utilities Commission staff filed an unopposed settlement, which results in a $177M net increase to retail electric rates; the total change in base rates is $299M, which includes $122M of revenue previously collected through various rider mechanisms.

The settlement is based on a return on equity of 9.3% and equity ratio of 55.69%.
A CPUC decision is expected in Q1, and rates will be effective in April.
Separately, downed power lines are no longer believed to be behind the wildfire that tore through northern Colorado last week; shares had slumped on early reports of the fire.