Federal Energy Regulatory Commission Approves Xcel Energy Services Inc. Submittal for Post-Retirement Benefits

Strategic Insights -

The Federal Energy Regulatory Commission (FERC) has issued an order approving the submittal of Xcel Energy Services Inc. for the 2021 amount for Post-Retirement Benefits Other than Pensions (PBOP). The submittal, filed by Public Service Company of Colorado (PSCo) on March 11, 2022, reflects the actual PBOP costs booked to FERC Account 926, Employee Pensions and Benefits. PSCo has stated that its use of actual PBOP costs in the 2021 true-up is consistent with its Production Formula Rate Implementation Procedures and Transmission Formula Rate Implementation Procedures.

Key Takeaways:

  • The FERC Order accepted the submittal of Xcel Energy Services Inc. for the 2021 amount for Post-Retirement Benefits Other than Pensions (PBOP) on August 17, 2022.
  • The submittal was filed by Public Service Company of Colorado (PSCo) on March 11, 2022, and reflected the actual PBOP costs booked to FERC Account 926, Employee Pensions and Benefits.
  • PSCo stated that its use of actual PBOP costs in the 2021 true-up is consistent with its Production Formula Rate Implementation Procedures and Transmission Formula Rate Implementation Procedures.
  • The FERC Order granted notices of intervention, timely-filed motions to intervene, and unopposed motions to intervene out-of-time filed before the issuance date of this order.
  • No protests or adverse comments were filed in response to the submittal.
  • The FERC action does not constitute approval of any service, rate, charge, classification, or any rule, regulation, contract, or practice affecting such rate or service provided for in the filed documents.
  • This order constitutes final agency action, and requests for rehearing by the Commission may be filed within 30 days of the date of issuance of this order.

Statistics:

  • The FERC Order was issued on August 17, 2022.
  • The submittal was filed by PSCo on March 11, 2022.
  • The FERC Order accepted the submittal effective January 1, 2021, as requested.
  • No protests or adverse comments were filed in response to the submittal.
  • The FERC Order was filed in Docket No. ER22-1293-000.

Sources:

  • Federal Energy Regulatory Commission, "Order Approving Submittal," August 17, 2022, Document Accession #20220817-3059.
  • 18 C.F.R. § 35.11 (2021).
  • Cent. Hudson Gas & Elec. Corp., 60 FERC P 61,106, reh'g denied, 61 FERC P 61,089 (1992).
  • Sunflower Elec. Power Corp., 173 FERC P 61,054 (2020) (Danly, Comm'r, dissenting).