8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)                                                   November 9, 2006

Northern States Power Company
(Exact name of registrant as specified in its charter)
Minnesota
(State or other jurisdiction of incorporation)
000-31387	41-1967505
(Commission File Number)	(IRS Employer Identification No.)
414 Nicollet Mall, Mpls, MN	55401
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code                 612-330-5500                     

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events

On November 9, 2006, Northern States Power Company filed with the Minnesota Public Utilities Commission (“Commission”), a request to increase natural gas rates by $18.5 million, representing an overall increase of 2.4%, related to Minnesota capital investments and rising operating costs.  The case includes a requested common equity ratio of 51.98 % and a Return on Equity of 11%.  The Jurisdictional rate base is approximately $439 million.   If the Commission suspends the case, interim rates are proposed to become effective on January 8, 2007 representing an average increase on current distribution margin of 11.53%, or 2.07% on total gas revenues.

See additional information in the news release filed as exhibit 99.01.

Item 9.01. Financial Statements and Exhibits

(c) Exhibits

Exhibit No.	Description
99.01	Xcel Energy News Release dated November 9, 2006.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Northern States Power Company

(a Minnesota Corporation)

/s/ BENJAMIN G.S. FOWKE III

Benjamin G.S. Fowke III

Vice President and Chief Financial Officer

November 13, 2006

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EX-99.01

Exhibit 99.01

NEWS RELEASE Xcel Energy Media Relations 414 Nicollet Mall Minneapolis, MN 55401 (612) 215-5300 www.xcelenergy.com

Nov. 9, 2006

Xcel Energy requests increase in natural gas distribution rates

MINNEAPOLIS — Xcel Energy today asked the Minnesota Public Utilities Commission to authorize an increase in its natural gas distribution rates. If approved, the request would represent an annual increase of  $18.5 million to cover the company’s increasing costs. This represents an overall increase of 2.4 percent.

Xcel Energy last filed for a natural gas rate increase in September 2004. “This rate request addresses Xcel Energy’s need to recover costs associated with system growth, providing safe and reliable natural gas service for approximately 420,000 customers, and maintaining the company’s financial stability,” said Dave Sparby, vice president of government and regulatory affairs for Xcel Energy.

The proposed rate increase affects charges for delivering natural gas and not the wholesale cost of natural gas, which national market conditions determine. Xcel Energy recovers wholesale gas costs from customers on a dollar-for-dollar basis. “Conservation is the single most important way customers can reduce their energy bills to address the high price of natural gas,” said Sparby.

If approved, a typical residential customer’s monthly bill would increase by $4.

As part of this rate filing, Xcel Energy proposes to implement interim gas rates effective Jan. 8, 2007. Interim rates would represent an overall increase of 2 percent. The rates would remain in effect until the commission makes its final determination on the case. Final natural gas rates will be put into place in late 2007.

Those interested will have an opportunity to comment during public hearings the commission may schedule for early 2007.

The filing will be posted on Xcel Energy’s Web site at www.xcelenergy.com.

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