Xcel Energy Inc – ‘8-K’ for 2/28/95

As of:  Thursday, 3/2/95   ·   For:  2/28/95   ·   Accession #:  72903-95-4   ·   File #:  1-03034

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         2±     8K 

Document Table of Contents

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)      February 28, 1995         

Northern States Power Company               
(Exact name of registrant as specified in its charter)                  

Minnesota         
(State or other jurisdiction of incorporation)                  

  1-3034                                                41-0448030
(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 of former address, if changed since last report)                   

Item 5.   Other Events                                                          

On February 28, 1995 San Joaquin Valley Energy Partners (SJVEP) reached basic   
agreements with Pacific Gas & Electric Company (PG&E) regarding the             
acquisition of existing Standard Offer 4 (SO4) contracts by PG&E from SJVEP.    
The SO4 contracts would have provided PG&E with power generated by SJVEP.  The  
parties entered into a bridging agreement to cover the period until all         
approvals are received for the transaction.  The bridging agreement required    
SJVEP to cease power deliveries to PG&E as of 2400 hours, February 28, 1995.    
The negotiated agreements will result in cost savings for PG&E customers as     
well as economic benefits for SJVEP.                                            

NRG Energy, Inc., a wholly owned subsidiary of Northern States Power Company    
(NSP), has a 45 percent interest in SJVEP, through wholly owned subsidiaries.   
SJVEP owns and operates four independent power production biomass facilities    
with a total capacity of 55 megawatts in the San Joaquin Valley of California   
which include the following plants:  Madera, Chowchilla I, Chowchilla II and    
El Nido.  Each of the facilities had 30-year SO4 contracts that were effective  
on various dates between 1988 and 1990.  The 10-year fixed price period of the  
contracts would have expired between 1998 and 2000.                             

The final impact of this transaction on the financial results of NSP will not   
be known until the agreements have been approved and all costs associated with  
the idling of the facilities are known.  It is expected that a one-time gain    
from the transaction will be recorded in the first half of 1995.                

SJVEP will continue to own and maintain the facilities and will explore all     
available options.                                                              

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)

                   By (Roger D. Sandeen)
                    Roger D. Sandeen
                                      Vice President, Controller & Chief
                           Information Officer

Dated: March 2, 1995                                                            

Dates Referenced Herein

This ‘8-K’ Filing		Date		Other Filings
Filed on:		3/2/95		None on these Dates
For Period End:		2/28/95
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