Borrowings and Other Financing Instruments

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Borrowings and Other Financing Instruments

Short-Term Borrowings

NSP-Wisconsin meets its short-term liquidity requirements primarily through the issuance of commercial paper and borrowings under its credit facility and the money pool.

Money Pool — Xcel Energy Inc. and its utility subsidiaries have established a money pool arrangement that allows for short-term investments in and borrowings between the utility subsidiaries. Xcel Energy Inc. may make investments in the utility subsidiaries at market-based interest rates; however, the money pool arrangement does not allow the utility subsidiaries to make investments in Xcel Energy Inc.

Money pool borrowings:

(Amounts in Millions, Except Interest Rates)	Three Months Ended Sept. 30, 2023		Year Ended Dec. 31, 2022
Borrowing limit	$	150	$	150
Amount outstanding at period end	—		—
Average amount outstanding	—		25
Maximum amount outstanding	—		81
Weighted average interest rate, computed on a daily basis	N/A		1.10		%
Weighted average interest rate at period end	N/A		N/A

Commercial Paper — Commercial paper outstanding:

(Amounts in Millions, Except Interest Rates)	Three Months Ended Sept. 30, 2023		Year Ended Dec. 31, 2022
Borrowing limit	$	150	$	150
Amount outstanding at period end	—		47
Average amount outstanding	—		18
Maximum amount outstanding	—		123
Weighted average interest rate, computed on a daily basis	N/A		1.03		%
Weighted average interest rate at period end	N/A		4.55

Letters of Credit — NSP-Wisconsin uses letters of credit, generally with terms of one year, to provide financial guarantees for certain obligations. At both Sept. 30, 2023 and Dec. 31, 2022, there were no letters of credit outstanding under the credit facility.

Revolving Credit Facility — In order to issue its commercial paper, NSP-Wisconsin must have a revolving credit facility equal to or greater than the commercial paper borrowing limit and cannot issue commercial paper exceeding available capacity under this credit facility. The credit facility provides short-term financing in the form of notes payable to banks, letters of credit and back-up support for commercial paper borrowings.

NSP-Wisconsin has the right to request an extension of the revolving credit facility termination date for an additional one-year period. All extension requests are subject to majority bank group approval.

As of Sept. 30, 2023, NSP-Wisconsin had the following committed revolving credit facility available (in millions of dollars):

Credit Facility (a)		Outstanding (b)		Available
$	150	$	—	$	150

(a)Expires in September 2027.

(b)Includes outstanding commercial paper.

All credit facility bank borrowings, outstanding letters of credit and outstanding commercial paper reduce the available capacity under the credit facility. NSP-Wisconsin had no direct advances on the credit facility outstanding at Sept. 30, 2023 and Dec. 31, 2022.

Other Short-Term Borrowings — Clearwater Investments, Inc., a NSP-Wisconsin subsidiary, had an immaterial note payable to Xcel Energy Inc. as of Sept. 30, 2023 and Dec. 31, 2022, respectively.

Long-Term Borrowings and Other Financing Instruments

During the nine months ended Sept. 30, 2023, NSP-Wisconsin issued $125 million of 5.30% private placement first mortgage bonds due June 15, 2053.