Xcel Energy 2004 Annual Report Download - page 85
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NOTES to CONSOLIDATED FINANCIAL STATEMENTS
Xcel Energy Annual Report 2004
83
Removal Costs Xcel Energy also accrues an obligation for plant removal costs for other generation, transmission and distribution facilities of its utility
subsidiaries. Generally, the accrual of future non-legal removal obligations is not required. However, long-standing ratemaking practices approved by
applicable state and federal regulatory commissions have allowed provisions for such costs in historical depreciation rates. These removal costs have
accumulated over a number of years based on varying rates as authorized by the appropriate regulatory entities. Given the long periods over which
the amounts were accrued and the changing of rates through time, the utility subsidiaries have estimated the amount of removal costs accumulated
through historic depreciation expense based on current factors used in the existing depreciation rates.
Accordingly, the recorded amounts of estimated future removal costs are considered Regulatory Liabilities under SFAS No. 71. Removal costs by entity
are as follows at Dec. 31:
(Millions of dollars) 2004 2003
NSP-Minnesota $323 $324
NSP-Wisconsin 81 75
PSCo 383 351
SPS 104 102
Total Xcel Energy $891 $852