August 01, 2014 1:06 PM ET

Electric Utilities

Company Overview of Northern States Power Company

Company Overview

Northern States Power Company, together with its subsidiaries, is engaged in the regulated generation, purchase, transmission, distribution, and sale of electricity in Minnesota, North Dakota, and South Dakota. It operates in Regulated Electric Utility and Regulated Natural Gas Utility segments. The company generates electricity from various sources, such as coal, nuclear fuel, natural gas, wind, hydro, biomass, and solar. It also purchases, transports, distributes, and sells natural gas to retail customers, as well as transports customer-owned natural gas in Minnesota and North Dakota. The company, through its subsidiary, United Power and Land Company, also holds real estate. It provides el...

414 Nicollet Mall

Minneapolis, MN 55401

United States

Founded in 2000

3,775 Employees

Phone:

612-330-5500

Key Executives for Northern States Power Company

Chief Executive Officer
Age: 59
Chief Financial Officer
Age: 58
Principal Accounting Officer
Age: 42
Vice President
Age: 67
Vice President and Director
Age: 55
Compensation as of Fiscal Year 2014.

Northern States Power Company Key Developments

Northern States Power Company Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2014

Northern States Power Company reported unaudited earnings results for the first quarter ended March 31, 2014. For the quarter, diluted earnings per share were $0.21 against $0.21 a year ago. Weather-adjusted retail electric sales increased 1.2%, led by C&I sales growth of 1.5% and modest residential sales improvement.

PSC Approves Settlement Agreement with Northern States Power Company

The North Dakota Public Service Commission approved a comprehensive settlement agreement with Northern States Power company to complete major improvements to its generation, transmission and distribution system and addresses several persistent challenges between Xcel and North Dakota regulators. The agreement solidifies the company's commitment to build up to 400 megawatts (MW) of thermal generation in North Dakota, and provides a framework to remove from rates Minnesota-driven alternative energy projects that might not be prudent to North Dakota customers. This could reduce future costs to North Dakota customers by more than $5 million.

Northern States Files Shelf Registration; Mulls Acquisitions

Northern States Power Company has filed a shelf registration. The company intends to use the net proceeds from the sale of the securities for general corporate purposes, including meeting our working capital requirements, funding capital expenditures and acquisitions, repaying short-term debt and refunding long-term debt at maturity or otherwise.

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