Company Overview of Public Service Co. of Colorado
Public Service Company of Colorado, together with its subsidiaries, is engaged in the generation, purchase, transmission, distribution, and sale of electricity in Colorado. It also purchases, transports, distributes, and sells natural gas to retail customers; and transports customer-owned natural gas. The company serves large commercial and industrial electric retail customers in various industries, including fabricated metal products, oil and gas extraction, and communications; and small commercial and industrial customers in real estate and dining establishments. It provides electric utility services to approximately 1.4 million customers; and natural gas utility services to approximately ...
Denver, CO 80202
Founded in 1869
Key Executives for Public Service Co. of Colorado
Principal Accounting Officer
Compensation as of Fiscal Year 2014.
Public Service Co. of Colorado Key Developments
Xcel Interested In Buying Colorado Springs Utilities' Electric Division
Jul 10 14
Xcel Energy Inc. (NYSE:XEL) (‘Xcel’) has asked Colorado Springs Utilities if it wants to sell its electric generation fleet, including Ray Nixon coal-fired plant, the city's natural gas-fired plant, its hydroelectric facilities and its backup generators. In a June 27, 2014 letter, Xcel offered to have closed-door discussions with Colorado Springs Utilities about a possible sale. Xcel proposed that Colorado Springs Utilities enter into a non-disclosure with Xcel subsidiary Public Service Co. of Colorado with the specific intent of exploring over the next 60 days if there is a value proposition that would provide for acquisition of and assumption of operations for the generation fleet of Colorado Springs Utilities. The council, which doubles as the the board of Colorado Springs Utilities, will discuss the offer at a July 16, 2014 meeting. Council member Andy Pico is not interested in selling any part of Colorado Springs Utilities.
Public Service Co. of Colorado Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2014
May 1 14
Public Service Co. of Colorado reported unaudited earnings results for the first quarter ended March 31, 2014. For the quarter, diluted earnings per share were $0.24 against $0.24 a year ago. Weather-adjusted retail electric sales increased 1.4%, primarily driven by higher average use in the small C&I class, a new cheese factory, along with recovery at a steel mill and customer growth in the residential class. Higher rates and sales growth were offset by increased property taxes, depreciation and accruals associated with the electric earnings test refund obligation.
Public Service Seek Acquisitions
Oct 8 13
Public Service Co. of Colorado is seeking acquisitions. Public Service intends to use the net proceeds from the sale of securities for general corporate purposes, including meeting Public Service working capital requirements, funding capital expenditures and acquisitions, repaying short-term debt and refunding long-term debt at maturity or otherwise. Until the net proceeds from the sale of the offered securities have been used, we may invest them temporarily in interest-bearing obligations.
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