Private company
PUBLIC SERVICE CO OF COLORADO
PUBLIC SERVICE CO OF COLORADO is an American electric and services combined company based in Denver.2
Last updated Oct 21, 2026.
Overview
- IndustryElectric & Other Services Combined2
- HeadquartersDenver, United States2
- Incorporated inCO3
- Business address3500 Blake Street, Denver, Co 802053
- Filer categoryNon-accelerated filer3
- Legal formFor-Profit Corporation2
- LEI5BANEF6PGSEK0SNMQF442
- StatusActive2
- LEI statusIssued and current2
- Registered addressC/O Corporation Service Company, 80120 Littleton, United States2
- Registered withBusiness Division of the Secretary of State’s office, 198710800742
See how the biggest companies compare on our leaderboards
PSCo is a wholly owned subsidiary of Xcel Energy Inc., and Xcel Energy’s website address is www.xcelenergy.com. Xcel Energy makes available, free of charge through its website, its annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and all amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 as soon as reasonably practicable after the reports are electronically filed with or furnished to the SEC. The SEC maintains an internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically at http://www.sec.gov. The information on Xcel Energy’s website is not a part of, or incorporated by reference in, this annual report on Form 10-K.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Financial statements
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||
| Operating expenses | $3.9B7 | $4.7B8 | $4.6B9 | $4.2B9 | $4.8B9 | |||
| Operating income | $857.0M5 | $823.0M6 | $895.0M7 | $994.0M8 | $962.0M9 | $1.0B9 | $856.0M9 | |
| Interest | $235.0M5 | $238.0M6 | $243.0M7 | $271.0M8 | $312.0M9 | $375.0M9 | $434.0M9 | |
| Income before tax | $693.0M7 | $764.0M8 | $724.0M9 | $807.0M9 | $665.0M9 | |||
| Income tax | $80.0M5 | $45.0M6 | $33.0M7 | $37.0M8 | $29.0M9 | $25.0M9 | -$13.0M9 | |
| Net income | $578.0M5 | $588.0M6 | $660.0M7 | $727.0M8 | $695.0M9 | $782.0M9 | $678.0M9 |
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash | $11.4M13 | $28.0M12 | $25.0M6 | $10.0M6 | $13.0M9 | $26.0M9 | $16.0M9 | |
| Receivables | $374.0M6 | $562.0M6 | ||||||
| Inventory | $245.0M6 | $319.0M7 | $258.0M8 | $228.0M9 | $277.0M9 | |||
| Current assets | $981.0M12 | $1.1B5 | $1.5B6 | $2.0B7 | $1.6B8 | $1.4B9 | $1.8B9 | |
| Property, plant and equipment | $18.4B6 | $19.7B7 | $21.0B8 | $23.3B9 | $27.8B9 | |||
| Total assets | $19.0B12 | $20.4B5 | $21.9B6 | $23.6B7 | $24.6B8 | $26.6B9 | $31.8B9 | |
| Accounts payable | $531.0M6 | $764.0M6 | ||||||
| Short-term debt | $300.0M6 | $250.0M7 | $08 | $250.0M9 | $09 | |||
| Current liabilities | $1.7B12 | $1.4B5 | $1.8B6 | $2.1B7 | $1.9B8 | $2.0B9 | $2.3B9 | |
| Long-term debt | $6.6B7 | $7.5B8 | $8.4B9 | $10.4B9 | ||||
| Retained earnings | $2.0B6 | $2.3B7 | $2.4B8 | $2.5B9 | $2.8B9 | |||
| Shareholders’ equity | $7.0B12 | $7.6B5 | $8.4B6 | $9.2B7 | $9.7B8 | $10.7B9 | $13.2B9 | |
| Shares outstanding | 100 shares12 | 100 shares5 | 100 shares6 | 100 shares7 | 100 shares8 | 100 shares9 | 100 shares9 | 100 shares9 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | $1.2B5 | $1.2B6 | $727.0M7 | $1.3B8 | $2.0B9 | $1.9B9 | $1.4B9 | |
| Depreciation and amortization | $754.0M7 | $854.0M8 | $929.0M9 | $999.0M9 | $1.1B9 | |||
| Cash from investing | -$1.6B7 | -$1.9B8 | -$2.4B9 | -$3.1B9 | -$5.1B9 | |||
| Dividends paid | $457.0M5 | $831.0M6 | $467.0M7 | $491.0M8 | $652.0M9 | $616.0M9 | $376.0M9 | |
| Cash from financing | $874.0M7 | $610.0M8 | $409.0M9 | $1.2B9 | $3.7B9 |
Corporate structure
PUBLIC SERVICE CO OF COLORADO is part of a group headed by Xcel Energy. 21 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
- Xcel Energy Minneapolis, Minnesota, United States
- NORTHERN STATES POWER CO Eau Claire, Wisconsin, United States
- Northern States Power Company Minneapolis, Minnesota, United States
- PUBLIC SERVICE CO OF COLORADO Denver, Colorado, United States
- SOUTHWESTERN PUBLIC SERVICE CO Amarillo, Texas, United States
- Nicollet Holdings Company LLC Subsidiary · Minnesota, United States
- Nicollet Project Holdings LLC Subsidiary · Minnesota, United States
- Northern States Power Company (a Minnesota corporation) Subsidiary · Minnesota, United States
- Northern States Power Company (a Wisconsin corporation) Subsidiary · Wisconsin, United States
- WestGas InterState, Inc. Subsidiary · Colorado, United States
- Xcel Energy Communications Group Inc. Subsidiary · Minnesota, United States
- Xcel Energy International Inc. Subsidiary · Delaware, United States
- Xcel Energy Markets Holdings Inc. Subsidiary · Minnesota, United States
- Xcel Energy Nuclear Services Holdings, LLC Subsidiary · Delaware, United States
- Xcel Energy Retail Holdings Inc. Subsidiary · Minnesota, United States
- Xcel Energy Services Inc. Subsidiary · Delaware, United States
- Xcel Energy Transmission Holding Company, LLC Subsidiary · Delaware, United States
- Xcel Energy Venture Holdings, Inc. Subsidiary · Minnesota, United States
- Xcel Energy Ventures Inc. Subsidiary · Minnesota, United States
- Xcel Energy Wholesale Group Inc. Subsidiary · Minnesota, United States
- Xcel Energy WYCO Inc. Subsidiary · Colorado, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0). Each entity in the chart links to its source.
What it owns
What PUBLIC SERVICE CO OF COLORADO reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $34.7B9 Dec 31, 2025 | $29.8B9 Dec 31, 2024 | +16.4% |
| Accumulated depreciation | $6.9B9 Dec 31, 2025 | $6.5B9 Dec 31, 2024 | +6.2% |
| Property and equipment, net | $27.8B9 Dec 31, 2025 | $23.3B9 Dec 31, 2024 | +19.2% |
| Finance-lease assets | $106.0M9 Dec 31, 2025 | $111.0M9 Dec 31, 2024 | −4.5% |
| Operating-lease assets (leased space) | $389.0M9 Dec 31, 2025 | $268.0M9 Dec 31, 2024 | +45.1% |
Inventory
Properties, in its own words
Virtually all of the utility plant property of PSCo is subject to the lien of its first mortgage bond indenture.
Station, Location and Unit at Dec. 31, 2025 · Fuel · Installed · MW (a)
The rest of Item 2
Steam:
Comanche-Pueblo, CO
Unit 2 · Coal · 1975 · 330
Unit 3 · Coal · 2010 · 500 · (b)
Craig-Craig, CO, 2 Units · Coal · 1979 - 1980 · 82 · (c)
Hayden-Hayden, CO, 2 Units · Coal · 1965 - 1976 · 233 · (d)
Pawnee-Brush, CO, 1 Unit · Coal · 1981 · 505 · (e)
Cherokee-Denver, CO, 1 Unit · Natural Gas · 1968 · 310
Combustion Turbine:
Blue Spruce-Aurora, CO, 2 Units · Natural Gas · 2003 · 264
Cherokee-Denver, CO, 3 Units · Natural Gas · 2015 · 576
Fort St. Vrain-Platteville, CO, 6 Units · Natural Gas · 1972 - 2009 · 1,022
Manchief-Brush, CO, 2 Units · Natural Gas · 2000 · 250
Rocky Mountain-Keenesburg, CO, 3 Units · Natural Gas · 2004 · 592
Valmont-Boulder, CO, 3 units · Natural Gas · 1973 - 2001 · 119
Various locations, 5 Units · Natural Gas · Various · 128
Hydro:
Cabin Creek-Georgetown, CO
Pumped Storage, 2 Units · Hydro · 1967 · 210
Various locations, 6 Units · Hydro · Various · 23
Wind:
Rush Creek, CO, 300 units · Wind · 2018 · 582 · (f)
Cheyenne Ridge, CO, 229 units · Wind · 2020 · 477 · (f)
Solar:
Rocky Mountain Solar-Keenesburg, CO, 87 units · Solar · 2025 · 325 · (f)
Total · 6,528
(a)Summer 2025 net dependable capacity. Wind and solar is presented as net maximum capacity.
(b)Based on PSCo’s ownership of 67%.
(c)Based on PSCo’s ownership of 10%.
(d)Based on PSCo’s ownership of 76% of Unit 1 and 37% of Unit 2.
(e)Pawnee coal plant was retired in 2025 and completed conversion to natural gas in 2026.
(f)Net maximum capacity is attainable only when conditions are sufficiently available. Typical average capacity factors are 35-50% for wind facilities. For the year ended Dec. 31, 2025, wind facilities had a weighted-average capacity factor of 41%. For solar projects placed in service in 2025, factors will be available after a full year of operations.
Electric utility overhead and underground transmission and distribution lines (measured in conductor miles) at Dec. 31, 2025:
Conductor Miles
Transmission
345 KV · 8,233
230 KV · 12,393
138 KV · 92
115 KV · 5,004
Less than 115 KV · 1,717
Total Transmission · 27,439
Distribution
Less than 115 KV · 84,079
Total · 111,518
PSCo had 236 electric utility transmission and distribution substations at Dec. 31, 2025.
Natural gas utility mains at Dec. 31, 2025:
Miles
Transmission · 2,022
Distribution · 24,291
Item 2 of the 10-K filed Feb 25, 2026.4
Subsidiaries and ownership
Parent company (GLEIF)
Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record.
Timeline
- Aug 20, 20268-K Other events14
- Aug 10, 20268-K Other events15
- Jul 14, 20268-K Other events16
- Jun 9, 20268-K Other events17
- Jun 3, 20268-K Other events18
- Mar 13, 20268-K Other events19
- Jan 2, 20268-K Other events20
- Nov 24, 20258-K Other events21
- Sep 24, 20258-K Other events22
- Aug 7, 20258-K Other events23
- Mar 20, 20258-K Other events24
- Oct 17, 20248-K Other events25
- Feb 25, 2020Parent Directly consolidated by Xcel Energy2
- Sep 3, 1924Founded PUBLIC SERVICE CO OF COLORADO is founded2
Filings
72 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 31 major events, 21 other. The latest 20:
- Aug 20, 20268-K EDGAR
- Aug 10, 20268-K EDGAR
- Aug 4, 2026424B2 EDGAR
- Aug 3, 2026FWP EDGAR
- Aug 3, 2026424B5 EDGAR
- Jul 30, 202610-Q EDGAR
- Jul 14, 20268-K EDGAR
- Jun 9, 20268-K EDGAR
- Jun 3, 20268-K EDGAR
- Apr 30, 202610-Q EDGAR
- Mar 13, 20268-K EDGAR
- Mar 11, 2026424B2 EDGAR
- Mar 10, 2026FWP EDGAR
- Mar 10, 2026424B5 EDGAR
- Feb 25, 202610-K EDGAR
- Jan 2, 20268-K EDGAR
- Nov 24, 20258-K EDGAR
- Oct 30, 202510-Q EDGAR
- Sep 24, 20258-K EDGAR
- Aug 7, 20258-K EDGAR
The 72 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
SEC filer profile
How PUBLIC SERVICE CO OF COLORADO is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARPUBLIC SERVICE CO OF COLORADO1
- CIK0000081018
- Employer ID (EIN)84-02966004
- Filer statusNon-accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
- Incorporated inColorado4
- Fiscal year endsDecember 311
- Industry code (SIC)4931 Electric & Other Services Combined1
- SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
- Business address3500 Blake Street, Denver, CO 802051
- Mailing addressP O Box 840 Ste 300, Denver, CO 802011
- Phone30357175111
- Shares outstanding100 as of Jul 30, 202611
- Public float$0 as of Jun 30, 20259
- AuditorDELOITTE & TOUCHE LLP, Minneapolis, Minnesota PCAOB ID 34; no auditor attestation of internal control over financial reporting4
- On EDGAR sinceFeb 23, 19951
- Filings494 in all: 8-K (230), 10-Q (92), 10-K (30), 424B5 (28), 424B2 (26), FWP (23), U-6B-2 (11), 424B3 (9)1
All 26 form types
10-Q/A (6), S-3 (6), S-3ASR (6), 8-K/A (4), U-3A-2 (3), U-3A-2/A (3), DEF 14A (2), EFFECT (2), S-3/A (2), S-4 (2), S-4/A (2), 10-K/A (1), 10-K405 (1), CT ORDER (1), S-3D (1), U-1 (1), U-1/A (1), UPLOAD (1)
- Latest filingsAnnual report (10-K) Feb 25, 2026
Quarterly report (10-Q) Jul 30, 2026
Proxy statement (DEF 14A) Apr 3, 1996
Latest 8-K (8-K) Aug 20, 2026
Risk factors and legal proceedings
The risks PUBLIC SERVICE CO OF COLORADO names in Item 1A of its 10-K filed Feb 25, 2026: 28 risks under these headings, as written.4
- Risks Associated with Our Business
- Operational Risks
- Our natural gas and electric generation/transmission and distribution operations involve numerous risks that may result in accidents and other operating risks and costs.
- Our utility operations, resource adequacy and system reliability are subject to long-term planning and project risks.
- Our utility operations are highly dependent on suppliers to deliver components in accordance with short and long-term project schedules.
- We are subject to physical and financial risks associated with climate change and other weather, natural disaster and resource depletion impacts.
- Our utilities have significant risks associated with wildfires.
- We are subject to commodity risks and other risks associated with energy markets and energy production.
- Failure to attract and retain a qualified workforce could have an adverse effect on operations.
- Our operations use third-party contractors in addition to employees to perform periodic and ongoing work.
- Actions of our employees, directors, third-party contractors or suppliers could expose us to reputational risks.
- We are a wholly owned subsidiary of Xcel Energy Inc. Xcel Energy Inc. can exercise substantial control over our dividend policy and business and operations and may exercise that control in a manner that may be perceived to be adverse to our interests.
The other 18 risks
- Financial Risks
- Our profitability depends on our ability to recover costs and changes in regulation may impair our ability to recover costs from our customers.
- Growth in large load customers, including data centers, may increase customer concentration, capital requirements and revenue variability risks.
- Any reductions in our credit ratings could increase our financing costs and the cost of maintaining certain contractual relationships.
- We are subject to capital market and interest rate risks.
- We are subject to credit risks.
- As we are a subsidiary of Xcel Energy Inc., we may be negatively affected by events impacting the credit or liquidity of Xcel Energy Inc. and its affiliates.
- Increasing costs of our defined benefit retirement plans and employee benefits may adversely affect our results of operations, financial condition or cash flows.
- Increasing costs associated with health care plans may adversely affect our results of operations.
- Federal tax law may significantly impact our business.
- Macroeconomic Risks
- Economic conditions impact our business.
- We face risks related to health epidemics and other outbreaks, which may have a material effect on our financial condition, results of operations and cash flows.
- Operations could be impacted by war, terrorism or other events.
- A cybersecurity incident or security breach could have a material effect on our business.
- Our operating results may fluctuate on a seasonal and quarterly basis and can be adversely affected by milder weather.
- Public Policy Risks
- Increased risks of regulatory penalties could negatively impact our business.
- The continued use of natural gas for both power generation and gas distribution have increasingly become a public policy advocacy target. These efforts may result in a limitation of natural gas as an energy source for both power generation and heating, which could impact our ability to reliably and affordably serve our customers.
- Environmental Policy Risks
- We may be subject to legislative and regulatory responses to climate change, with which compliance could be difficult and costly.
- We are subject to environmental laws and regulations, with which compliance could be difficult and costly.
Legal proceedings
PSCo is involved in various litigation matters in the ordinary course of business. The assessment of whether a loss is probable or is a reasonable possibility, and whether the loss or a range of loss is estimable, often involves a series of complex judgments about future events. Management maintains accruals for losses probable of being incurred and subject to reasonable estimation.
Management is sometimes unable to estimate an amount or range of a reasonably possible loss in certain situations, including but not limited to, when (1) the damages sought are indeterminate, (2) the proceedings are in the early stages, or (3) the matters involve novel or unsettled legal theories. In such cases, there is considerable uncertainty regarding the timing or ultimate resolution of such matters, including a possible eventual loss.
For current proceedings not specifically reported herein, management does not anticipate that the ultimate liabilities, if any, would have a material effect on PSCo’s consolidated financial statements. Legal fees are generally expensed as incurred.
See Note 10 to the consolidated financial statements, Item 1 and Item 7 for further information.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14SEC EDGAROther events
- 15SEC EDGAROther events
- 16SEC EDGAROther events
- 17SEC EDGAROther events
- 18SEC EDGAROther events
- 19SEC EDGAROther events
- 20SEC EDGAROther events
- 21SEC EDGAROther events
- 22SEC EDGAROther events
- 23SEC EDGAROther events
- 24SEC EDGAROther events
- 25SEC EDGAROther events