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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
MINUTES OF THE COMMISSION MEETING
Chairman Chris Nelson called the meeting to Order. Present were: Commissioners: Kristie Fiegen and Gary Hanson; Commission Counsel: John Smith; Commission Advisor: Greg Rislov; Staff Attorneys: Karen Cremer and Ryan Soye; Staff Analysts: Brian Rounds, Matthew Tysdal, Brittany Mehlhaff, Jon Thurber, and Patrick Steffensen; and Staff: Joy Irving.
Joining the meeting by telephone were:
Jim Wilcox, Deb Paulson, Tom Kramer, Amy Liberkowski, and Kari Valley, Xcel Energy
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)
A lengthy discussion took place regarding Docket EL11-019. The transcript can be found on the PUC website under Commission Actions: Commission Minutes: 2012 - http://puc.sd.gov/commission/minutes/2012/transcriptel11-019062612.pdf. An audio of the discussion can be found on the PUC website under Commission Actions: Commission Meeting Archives; 2012; May 22, 2012, Hearing for Docket EL11-019, recording located at: http://puc.sd.gov/commission/media/PUC06262012.mp3.
Commissioner Nelson moved to approve an overall rate of return of 7.79% based on the Commission's decisions on cost of long term debt, return on equity, and capital structure, that the Commission approve a revenue deficiency and corresponding revenue requirement increase of $8,037,000 based on the adjustments reflected in Exhibits 1 through 6 of the joint filing, and that the Commission approve the distribution of the revenue deficiency among the rate classes in accordance with Exhibit 7 of the joint filing.
Commissioner Nelson moved that Xcel file 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 by July 6, 2012, and that the refund issue be put on the agenda for decision at the regular meeting scheduled for July 17, 2012. Motion carried 3-0.
Commissioner Nelson moved to approve that Xcel Energy file its final rates and tariff sheets reflecting the Commission's final decision as promptly as possible but in any case no later than July 6, 2012. Motion carried 3-0.
There being no further business, at the hour of 8:36 a.m. the South Dakota Public Utilities Commission meeting adjourned.
June 26, 2012