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South Dakota Public Utilities Commission Meeting
June 26, 2012, at 8:30 a.m. CDT
Room 413, Capitol Building
Pierre, South Dakota


NOTE: If you wish to join this meeting by conference call, please contact the Commission at 605-773-3201 by 5:00 p.m. CDT on Monday, June 25, 2012. Lines are limited and are given out on a first come, first served basis, subject to possible reassignment to accommodate persons who must appear in a proceeding. Ultimately, if you wish to participate in the Commission Meeting and a line is not available you may have to appear in person.

NOTE: To listen to the Commission Meeting live please go to the PUC's website www.puc.sd.gov and click on the LIVE link on the home page. The Commission requests persons who will only be listening to proceedings and not actively appearing in a case listen via the web cast to free phone lines for those who have to appear. The Commission meetings are archived on the PUC's website under the Commission Actions tab, Click on “Commission Meeting Archives,” to access the recordings.

NOTE: Notice is further given to persons with disabilities that this Commission meeting is being held in a physically accessible place. If you have special needs, please notify the Commission and we will make all necessary arrangements.

AGENDA OF AD HOC COMMISSION MEETING

Electric
1.     EL11-019     In the Matter of the Application of Northern States Power Company dba Xcel Energy for Authority to Increase its Electric Rates (Staff Analysts: Jon Thurber, David Jacobson, Brittany Mehlhaff, Brian Rounds, Matthew Tysdal; Staff Attorney: Karen Cremer)

On June 30, 2011, the Commission received an application by Northern States Power Company dba Xcel Energy (Xcel) for approval to increase rates for electric service to customers in its South Dakota service territory by approximately $14.6 million annually or approximately 9.28% based on Xcel's 2010 test year. In addition, Xcel is proposing to recover approximately $1 million of ongoing investments in its Monticello nuclear generating plant through a Nuclear Cost Recovery Rider to go into effect with the final rates. The Company states a typical residential electric customer using 750 kWh per month would see an increase of 9.48%, or $6.93 per month. The proposed rates may potentially affect approximately 84,000 customers in Xcel's South Dakota service territory. On May 8, 2012, the Commission received a Joint Motion for Approval of Settlement Stipulation. At its regular meeting on May 22, 2012, the Commission considered the Joint Motion and on May 24, 2012, issued an Order Granting Joint Motion for Approval of Settlement Stipulation resolving many of the issues in the case and an Order for and Notice of Hearing setting the remaining issues in the matter for hearing on June 13-14, 2012. The hearing was held as scheduled. At its regular meeting on June 19, 2012, the Commission considered the issues heard at the hearing and took action on the issues of Nobles Wind Farm recovery, cost of long term debt, return on equity, and capital structure. The Commission directed Xcel and Staff to exchange information and file by June 21, 2012, a final overall rate of return value and their respective analyses of necessary adjustments reflecting the Commission's decisions and final revenue requirement, directed Xcel to prepare and promptly file its proposal and supporting information on the appropriate refund computation methodology and distribution mechanism, including appropriate interest rate, and directed Staff to work with the parties to schedule an ad hoc meeting for final decision.

     TODAY, shall the Commission approve an overall rate of return value, final revenue requirement adjustments, and final revenue requirement? AND, shall the Commission direct Xcel to file by a specified date its proposed computation methodology and mechanism for refund or credit of interim rate over-collections, including interest, and its proposed interest rate on refund/credit amounts? AND shall the Commission direct Xcel to file its final rates and tariff sheets reflecting the Commission's final decision?

/S/Cindy Kemnitz
Cindy Kemnitz Finance Manager
puc@state.sd.us
June 21, 2012