Xcel Energy 2013 Annual Report Download - page 23

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The management of the electric production and transmission system of NSP-Wisconsin is integrated with NSP-Minnesota.
NSP-Wisconsin owns the following direct subsidiaries: Chippewa and Flambeau Improvement Co., which operates hydro reservoirs;
Clearwater Investments Inc., which owns interests in affordable housing; and NSP Lands, Inc., which holds real estate.
PSCo
PSCo is a utility engaged primarily in the generation, purchase, transmission, distribution and sale of electricity in Colorado. The
wholesale customers served by PSCo comprised approximately 13 percent of its total KWh sold in 2013. PSCo also purchases,
transports, distributes and sells natural gas to retail customers and transports customer-owned natural gas. PSCo provides electric
utility service to approximately 1.4 million customers and natural gas utility service to approximately 1.3 million customers. All of
PSCo’s retail electric operating revenues were derived from operations in Colorado during 2013. Although PSCo’s large commercial
and industrial electric retail customers are comprised of many diversified industries, a significant portion of PSCo’s large commercial
and industrial electric sales include the following industries: fabricated metal products, oil and gas extraction and communications.
For small commercial and industrial customers, significant electric retail sales include the following industries: real estate and dining
establishments. Generally, PSCo’s earnings contribute approximately 45 percent to 55 percent of Xcel Energy’s consolidated net
income.
PSCo owns the following direct subsidiaries: 1480 Welton, Inc. and United Water Company, both of which own certain real estate
interests; and Green and Clear Lakes Company, which owns water rights and certain real estate interests. PSCo also owns PSRI,
which held certain former employees’ life insurance policies. PSCo also holds a controlling interest in several other relatively small
ditch and water companies.
SPS
SPS is a utility engaged primarily in the generation, purchase, transmission, distribution and sale of electricity in portions of Texas and
New Mexico. The wholesale customers served by SPS comprised approximately 33 percent of its total KWh sold in 2013. SPS
provides electric utility service to approximately 383,000 retail customers in Texas and New Mexico. Approximately 73 percent of
SPS’ retail electric operating revenues were derived from operations in Texas during 2013. Although SPS’ large commercial and
industrial electric retail customers are comprised of many diversified industries, a significant portion of SPS’ large commercial and
industrial electric sales include the following industries: oil and gas extraction, as well as petroleum and coal products. For small
commercial and industrial customers, significant electric retail sales include the following industries: oil and gas extraction and crop
related agricultural industries. Generally, SPS’ earnings contribute approximately five percent to 15 percent of Xcel Energy’s
consolidated net income.
Other Subsidiaries
WGI is a small interstate natural gas pipeline company engaged in transporting natural gas from the PSCo system near Chalk Bluffs,
Colo., to the Cheyenne system near Cheyenne, Wyo.
WYCO was formed as a joint venture with CIG to develop and lease natural gas pipeline, storage, and compression facilities. Xcel
Energy has a 50 percent ownership interest in WYCO. The gas pipeline and storage facilities are leased under a FERC-approved
agreement to CIG.
Xcel Energy Services Inc. is the service company for Xcel Energy Inc.
Xcel Energy Inc.’s nonregulated subsidiary is Eloigne, which invests in rental housing projects that qualify for low-income housing
tax credits.
Xcel Energy conducts its utility business in the following reportable segments: regulated electric utility, regulated natural gas utility
and all other. See Note 17 to the consolidated financial statements for further discussion relating to comparative segment revenues,
income from operations and related financial information.