Sign in

Private company

SOUTHWESTERN PUBLIC SERVICE CO

SOUTHWESTERN PUBLIC SERVICE CO is an American electric and services combined company based in Amarillo.2

Last updated Oct 21, 2026.

Overview

  • IndustryElectric & Other Services Combined2
  • HeadquartersAmarillo, United States2
  • Incorporated inNM3
  • Business addressSps Tower, Tyler At Sixth St, Amarillo, Tx 791013
  • Filer categoryNon-accelerated filer3
  • Legal formProfit Corporation2
  • LEIOL6FE7QD5EQ3DOYEO2582
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O CORPORATION SERVICE COMPANY, 88240 Hobbs, United States2
  • Registered withBusiness Services Center (Office of the Secretary of State), 00001113852

See how the biggest companies compare on our leaderboards

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Operating income45678$492.0M in 2025+42% since 2019
0$200.0M$400.0M$600.0M2019: $347.0M$347.0M20192020: $359.0M$359.0M2020+3%2021: $366.0M$366.0M2021+2%2022: $434.0M$434.0M2022+19%2023: $466.0M$466.0M2023+7%2024: $461.0M$461.0M2024−1%2025: $492.0M$492.0M2025+7%
Net income45678$395.0M in 2025+50% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $263.0M$263.0M20192020: $295.0M$295.0M2020+12%2021: $318.0M$318.0M2021+8%2022: $349.0M$349.0M2022+10%2023: $384.0M$384.0M2023+10%2024: $394.0M$394.0M2024+3%2025: $395.0M$395.0M2025+0%
Fiscal year20192020202120222023202420252026
Revenue
Cost of revenue
Operating expenses$2.1B6$2.0B7$1.7B8$1.5B8$1.7B8
Operating income$347.0M4$359.0M5$366.0M6$434.0M7$466.0M8$461.0M8$492.0M8
Interest$99.0M4$119.0M5$114.0M6$143.0M7$143.0M8$162.0M8$195.0M8
Income before tax$259.0M6$296.0M7$339.0M8$337.0M8$355.0M8
Income tax$26.0M4-$10.0M5-$59.0M6-$53.0M7-$45.0M8-$57.0M8-$40.0M8
Net income$263.0M4$295.0M5$318.0M6$349.0M7$384.0M8$394.0M8$395.0M8

Compare SOUTHWESTERN PUBLIC SERVICE CO with another company

Corporate structure

SOUTHWESTERN PUBLIC SERVICE CO 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 SOUTHWESTERN PUBLIC SERVICE CO 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

ItemLatestA year beforeChange
Property and equipment, before depreciation$13.5B8 Dec 31, 2025$12.1B8 Dec 31, 2024+11.1%
Accumulated depreciation$3.1B8 Dec 31, 2025$2.9B8 Dec 31, 2024+5.9%
Property and equipment, net$10.4B8 Dec 31, 2025$9.3B8 Dec 31, 2024+12.7%
Operating-lease assets (leased space)$337.0M8 Dec 31, 2025$371.0M8 Dec 31, 2024−9.2%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$9.0M8 Dec 31, 2025$14.0M8 Dec 31, 2024−35.7%

Properties, in its own words

Virtually all of the utility plant property of SPS 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:

Cunningham-Hobbs, NM, 1 Unit · Natural Gas · 1957 - 1965 · 183

Harrington-Amarillo, TX 3 Units · Natural Gas · 2024 - 2025 · 1,018

Jones-Lubbock, TX, 2 Units · Natural Gas · 1971 - 1974 · 486

Maddox-Hobbs, NM, 1 Unit · Natural Gas · 1967 · 112

Nichols-Amarillo, TX, 3 Units · Natural Gas · 1960 - 1968 · 457

Plant X-Earth, TX, 1 Unit · Natural Gas · 1952 - 1964 · 190

Tolk-Muleshoe, TX, 2 Units · Coal · 1982 - 1985 · 1,067

Combustion Turbine:

Cunningham-Hobbs, NM, 2 Units · Natural Gas · 1997 · 207

Jones-Lubbock, TX, 2 Units · Natural Gas · 2011 - 2013 · 334

Maddox-Hobbs, NM, 1 Unit · Natural Gas · 1963 - 1976 · 61

Wind:

Hale-Plainview, TX, 239 Units · Wind · 2019 · 478 · (b)

Sagamore-Dora, NM, 240 Units · Wind · 2020 · 508 · (b)

Total · 5,101

(a)Summer 2025 net dependable capacity. Wind is presented as net maximum capacity.

(b)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 SPS’ wind facilities had a weighted-average capacity factor of 47%.

Electric utility overhead and underground transmission and distribution lines (measured in conductor miles) at Dec. 31, 2025:

Conductor Miles

Transmission

345 KV · 11,668

230 KV · 9,863

115 KV · 15,044

Less than 115 KV · 4,546

Total Transmission · 41,121

Distribution

Less than 115 KV · 25,261

Total · 66,382

SPS had 466 electric utility transmission and distribution substations at Dec. 31, 2025.

SPS had 38 miles of natural gas utility transmission mains at Dec. 31, 2025.

Item 2 of the 10-K filed Feb 25, 2026.12

Subsidiaries and ownership

Parent company (GLEIF)

Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record.

Timeline

  1. Jun 29, 20268-K Other events13
  2. Jun 23, 20268-K Other events14
  3. May 5, 20268-K Other events15
  4. Nov 21, 20258-K Other events16
  5. Jul 18, 20258-K Other events17
  6. May 2, 20258-K Other events18
  7. Dec 31, 20248-K Other events19
  8. Jun 6, 20248-K Other events20
  9. Apr 11, 20248-K Other events21
  10. Feb 29, 20248-K Other events22
  11. Dec 22, 20238-K Other events23
  12. Aug 21, 20238-K Entered a material agreement; New debt or obligation24
  13. Feb 26, 2020Parent Directly consolidated by Xcel Energy2
  14. Dec 23, 2019Founded SOUTHWESTERN PUBLIC SERVICE CO is founded2

Filings

50 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 18 major events, 12 other. The latest 20:

  1. Jul 30, 202610-Q EDGAR
  2. Jun 29, 20268-K EDGAR
  3. Jun 25, 2026424B2 EDGAR
  4. Jun 24, 2026FWP EDGAR
  5. Jun 24, 2026424B5 EDGAR
  6. Jun 23, 20268-K EDGAR
  7. May 5, 20268-K EDGAR
  8. Apr 30, 202610-Q EDGAR
  9. Feb 25, 202610-K EDGAR
  10. Nov 21, 20258-K EDGAR
  11. Oct 30, 202510-Q EDGAR
  12. Jul 31, 202510-Q EDGAR
  13. Jul 18, 20258-K EDGAR
  14. May 2, 20258-K EDGAR
  15. Apr 30, 2025424B2 EDGAR
  16. Apr 29, 2025FWP EDGAR
  17. Apr 29, 2025424B5 EDGAR
  18. Apr 24, 202510-Q EDGAR
  19. Feb 27, 202510-K EDGAR
  20. Dec 31, 20248-K EDGAR

The 50 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 SOUTHWESTERN PUBLIC SERVICE CO is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSOUTHWESTERN PUBLIC SERVICE CO1
  • CIK0000092521
  • Employer ID (EIN)75-057540012
  • Filer statusNon-accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company12
  • Incorporated inNew Mexico12
  • Fiscal year endsDecember 311
  • Industry code (SIC)4931 Electric & Other Services Combined1
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
  • Business addressSps Tower, Tyler At Sixth St, Amarillo, TX 791011
  • Mailing addressPo Box 1261, Amarillo, TX 791701
  • Phone30357175111
  • Shares outstanding100 as of Jul 30, 202610
  • Public float$0 as of Jun 30, 20258
  • AuditorDELOITTE & TOUCHE LLP, Minneapolis, Minnesota PCAOB ID 34; no auditor attestation of internal control over financial reporting12
  • On EDGAR sinceJan 13, 19951
  • Filings437 in all: 8-K (197), 10-Q (94), 10-K (28), 424B2 (21), 424B5 (18), FWP (17), U-6B-2 (9), S-3 (8)1
    All 27 form types

    CORRESP (5), EFFECT (5), 10-Q/A (4), 11-K (4), S-3/A (4), S-3ASR (4), 424B3 (3), UPLOAD (3), 10-K405 (2), 8-A12B/A (2), 10-KT (1), 305B2 (1), DEF 14A (1), POS AM (1), S-4 (1), S-4/A (1), S-8 (1), SC 13G (1), SC 13G/A (1)

  • Latest filingsAnnual report (10-K) Feb 25, 2026
    Quarterly report (10-Q) Jul 30, 2026
    Proxy statement (DEF 14A) Dec 2, 1996
    Latest 8-K (8-K) Jul 30, 2026

Risk factors and legal proceedings

The risks SOUTHWESTERN PUBLIC SERVICE CO names in Item 1A of its 10-K filed Feb 25, 2026: 28 risks under these headings, as written.12

  • Risks Associated with Our Business
  • Operational Risks
  • Our 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 power generation has increasingly become a public policy advocacy target. These efforts may result in a limitation of natural gas as an energy source for power generation, 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

SPS 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 SPS’ financial statements. Legal fees are generally expensed as incurred.

See Note 10 to the financial statements, Item 1 and Item 7 for further information.

The opening of Item 3, Legal Proceedings.12

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
    SEC EDGAROther events
  14. 14
    SEC EDGAROther events
  15. 15
    SEC EDGAROther events
  16. 16
    SEC EDGAROther events
  17. 17
    SEC EDGAROther events
  18. 18
    SEC EDGAROther events
  19. 19
    SEC EDGAROther events
  20. 20
    SEC EDGAROther events
  21. 21
    SEC EDGAROther events
  22. 22
    SEC EDGAROther events
  23. 23
    SEC EDGAROther events
  24. 24