Northern States Power 10-Q 27 Oct 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2022	Oct. 27, 2022
Cover [Abstract]
Entity Registrant Name	NORTHERN STATES POWER CO /WI/
Entity Central Index Key	0000072909
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-03140
Entity Incorporation, State or Country Code	WI
Entity Tax Identification Number	39-0508315
Entity Address, Address Line One	1414 West Hamilton Avenue
Entity Address, City or Town	Eau Claire
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	54701
City Area Code	(715)
Local Phone Number	737-2625
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		933,000

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022		Sep. 30, 2021
Operating revenues
Electric, non-affiliates	$ 223	$ 203	$ 617		$ 559
Electric, affiliates	51	49	150		141
Natural gas	20	22	133		110
Total operating revenues	294	274	900	[1]	810	[1]
Operating expenses
Electric fuel and purchased power, non-affiliates	5	5	13		15
Purchased power, affiliates	115	106	343		312
Cost of natural sold and transported	10	13	75		64
O&M expenses	53	47	160		146
Conservation program expenses	4	4	10		10
Depreciation and amortization	39	37	117		110
Taxes (other than income taxes)	8	7	23		22
Total operating expenses	234	219	741		679
Operating income	60	55	159		131
Other expense, net	(1)	(1)	(2)		(1)
Allowance for funds used during construction — equity	2	2	5		4
Interest charges and financing costs
Interest charges, includes other financing costs of $—, $—, $1 and $—, respectively	11	10	33		31
Allowance for funds used during construction — debt	(1)	0	(2)		(1)
Total interest charges and financing costs	10	10	31		30
Income before income taxes	51	46	131		104
Income tax expense	11	10	29		22
Net income	$ 40	$ 36	$ 102		$ 82
[1]Total revenues include $150 million and $141 million of affiliate electric revenue for the nine months ended Sept. 30, 2022 and 2021, respectively

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities
Net income	$ 102	$ 82
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	118	110
Deferred income taxes	0	10
Allowance for equity funds used during construction	5	4
Provision for bad debts	2	2
Changes in operating assets and liabilities:
Accounts receivable	(1)	11
Accrued unbilled revenues	19	8
Inventories	(21)	(9)
Other current assets	(2)	5
Accounts payable	2	(2)
Net regulatory assets and liabilities	5	(50)
Other current liabilities	6	(6)
Pension and other employee benefit obligations	(3)	(7)
Other, net	(3)	2
Net cash provided by operating activities	219	152
Investing activities
Capital/construction expenditures	(244)	(182)
Investments in utility money pool arrangement	(36)	(71)
Repayments from utility money pool arrangement	0	71
Net cash used in investing activities	(280)	(182)
Financing activities
(Repayments of) proceeds from short-term borrowings, net	(83)	(19)
Borrowings under utility money pool arrangement	575	236
Repayments under utility money pool arrangement	(575)	(236)
Proceeds from long-term debt	99	99
Capital contributions from parent	111	42
Dividends paid to parent	(67)	(82)
Net cash provided by financing activities	60	40
Net change in cash, cash equivalents and restricted cash	(1)	10
Cash, cash equivalents and restricted cash at beginning of period	11	2
Cash, cash equivalents and restricted cash at end of period	10	12
Supplemental disclosure of cash flow information:
Cash paid for interest (net of amounts capitalized)	(30)	(29)
Cash paid for income taxes, net	(26)	(17)
Supplemental disclosure of non-cash investing and financing transactions:
Accrued property, plant and equipment additions	30	23
Inventory transfers to property, plant and equipment	2	2
Allowance for equity funds used during construction	$ 5	$ 4

CONSOLIDATED BALANCE SHEETS (UN

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 10	$ 11
Accounts receivable, net	68	71
Accrued unbilled revenues	49	69
Other receivables	12	3
Inventories	45	27
Regulatory assets	52	21
Prepaid taxes	20	25
Prepayments and other	7	7
Total current assets	299	234
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, net	2,820	2,660
Other assets
Regulatory assets	188	225
Other	5	4
Total other assets	193	229
Total assets	3,312	3,123
Current liabilities
Short-term debt	0	83
Accounts payable	67	69
Accounts payable to affiliates	20	23
Dividends payable to parent	23	26
Regulatory liabilities	17	4
Taxes accrued	13	10
Accrued interest	10	10
Other	21	21
Total current liabilities	171	246
Deferred credits and other liabilities
Deferred income taxes	333	325
Deferred investment tax credits	5	5
Regulatory liabilities	384	372
Customer advances	24	23
Pension and employee benefit obligations	15	16
Other	43	46
Total deferred credits and other liabilities	804	787
Commitments and contingencies
Capitalization
Long-term debt	1,086	987
Common stock — 1,000,000 shares authorized of $100 par value; 933,000 shares outstanding at Sept. 30, 2022 and Dec. 31, 2021, respectively	$ 93	$ 93
Common stock, shares authorized (in shares)	1,000,000	1,000,000
Common stock, par value (in dollars per share)	$ 100	$ 100
Common stock, shares outstanding (in shares)	933,000	933,000
Additional paid in capital	$ 752	$ 642
Retained earnings	406	368
Total common stockholder's equity	1,251	1,103
Total liabilities and equity	3,312	3,123
Investments Receivable in Utility Money Pool Arrangement	$ 36	$ 0

CONSOLIDATED STATEMENTS OF COMM

CONSOLIDATED STATEMENTS OF COMMON STOCKHOLDER'S EQUITY - USD ($) $ in Millions	Total	Common stock	Additional Paid In Capital	Retained Earnings
Balance (in shares) at Dec. 31, 2020		933,000
Beginning Balance at Dec. 31, 2020	$ 1,068	$ 93	$ 605	$ 370
Increase (Decrease) in Stockholder's Equity
Net income	82
Common dividends declared to parent	(83)			(83)
Contribution of capital by parent	36		36
Balance (in shares) at Sep. 30, 2021		933,000
Ending Balance at Sep. 30, 2021	1,103	$ 93	641	369
Balance (in shares) at Jun. 30, 2021		933,000
Beginning Balance at Jun. 30, 2021	1,113	$ 93	638	382
Increase (Decrease) in Stockholder's Equity
Net income	36			36
Common dividends declared to parent	(49)			(49)
Contribution of capital by parent	3		3
Balance (in shares) at Sep. 30, 2021		933,000
Ending Balance at Sep. 30, 2021	$ 1,103	$ 93	641	369
Balance (in shares) at Dec. 31, 2021	933,000	933,000
Beginning Balance at Dec. 31, 2021	$ 1,103	$ 93	642	368
Increase (Decrease) in Stockholder's Equity
Net income	102
Common dividends declared to parent	(64)			(64)
Contribution of capital by parent	$ 110		110
Balance (in shares) at Sep. 30, 2022	933,000	933,000
Ending Balance at Sep. 30, 2022	$ 1,251	$ 93	752	406
Balance (in shares) at Jun. 30, 2022		933,000
Beginning Balance at Jun. 30, 2022	1,184	$ 93	702	389
Increase (Decrease) in Stockholder's Equity
Net income	40			40
Common dividends declared to parent	(23)			(23)
Contribution of capital by parent	$ 50		50
Balance (in shares) at Sep. 30, 2022	933,000	933,000
Ending Balance at Sep. 30, 2022	$ 1,251	$ 93	$ 752	$ 406

CONSOLIDATED STATEMENTS OF IN_2

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Other financing costs	$ 0	$ 0	$ 1	$ 0

Management's Opinion

Management's Opinion	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Management's Opinion	In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly, in accordance with GAAP, the financial position of NSP-Wisconsin and its subsidiaries as of Sept. 30, 2022 and Dec. 31, 2021; the results of NSP-Wisconsin's operations, including the components of net income, changes in stockholder's equity and comprehensive income for the three and nine months ended Sept. 30, 2022 and 2021; and NSP-Wisconsin's cash flows for the nine months ended Sept. 30, 2022 and 2021. All adjustments are of a normal, recurring nature, except as otherwise disclosed. Management has also evaluated the impact of events occurring after Sept. 30, 2022 up to the date of issuance of these consolidated financial statements. These statements contain all necessary adjustments and disclosures resulting from that evaluation. The Dec. 31, 2021 balance sheet information has been derived from the audited 2021 consolidated financial statements included in the NSP-Wisconsin Annual Report on Form 10-K for the year ended Dec. 31, 2021. Notes to the consolidated financial statements have been prepared pursuant to the rules and regulations of the SEC for Quarterly Reports on Form 10-Q. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP on an annual basis have been condensed or omitted pursuant to such rules and regulations. For further information, refer to the consolidated financial statements and notes thereto included in the NSP-Wisconsin Annual Report on Form 10-K for the year ended Dec. 31, 2021, filed with the SEC on Feb. 23, 2022. Due to the seasonality of NSP-Wisconsin’s electric and natural gas sales, interim results are not necessarily an appropriate base from which to project annual results.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	The significant accounting policies set forth in Note 1 to the consolidated financial statements in the NSP-Wisconsin Annual Report on Form 10-K for the year ended Dec. 31, 2021 appropriately represent, in all material respects, the current status of accounting policies and are incorporated herein by reference.

Accounting Pronouncements

Accounting Pronouncements	9 Months Ended
	Sep. 30, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
Accounting Pronouncements	As of Sept. 30, 2022, there was no material impact from the recent adoption of new accounting pronouncements, nor expected material impact from recently issued accounting pronouncements yet to be adopted, on NSP-Wisconsin's consolidated financial statements.

Selected Balance Sheet Data

Selected Balance Sheet Data	9 Months Ended
	Sep. 30, 2022
Balance Sheet Related Disclosures [Abstract]
Selected Balance Sheet Data	(Millions of dollars) Sept. 30, 2022 Dec. 31, 2021 Accounts receivable, net Accounts receivable $ 76 $ 79 Less allowance for bad debts (8) (8) Accounts receivable, net $ 68 $ 71 (Millions of dollars) Sept. 30, 2022 Dec. 31, 2021 Inventories Materials and supplies $ 8 $ 8 Fuel 12 9 Natural gas 25 10 Total inventories $ 45 $ 27 (Millions of dollars) Sept. 30, 2022 Dec. 31, 2021 Property, plant and equipment, net Electric plant $ 3,507 $ 3,348 Natural gas plant 445 423 Common and other property 255 233 Construction work in progress 157 134 Total property, plant and equipment 4,364 4,138 Less accumulated depreciation (1,544) (1,478) Property, plant and equipment, net $ 2,820 $ 2,660

Borrowings and Other Financing

Borrowings and Other Financing Instruments	9 Months Ended
	Sep. 30, 2022
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 for NSP-Wisconsin: (Amounts in Millions, Except Interest Rates) Three Months Ended Sept. 30, 2022 Year Ended Dec. 31, 2021 Borrowing limit $ 150 $ 150 Amount outstanding at period end — — Average amount outstanding 34 16 Maximum amount outstanding 81 78 Weighted average interest rate, computed on a daily basis 1.93 % 0.05 % Weighted average interest rate at period end N/A N/A Commercial Paper — Commercial paper outstanding for NSP-Wisconsin: (Amounts in Millions, Except Interest Rates) Three Months Ended Sept. 30, 2022 Year Ended Dec. 31, 2021 Borrowing limit $ 150 $ 150 Amount outstanding at period end — 83 Average amount outstanding 8 3 Maximum amount outstanding 86 83 Weighted average interest rate, computed on a daily basis 2.14 % 0.18 % Weighted average interest rate at period end N/A 0.21 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, 2022 and Dec. 31, 2021, there we re no l etters 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 in place at least equal to the amount of its 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. In September 2022, NSP-Wisconsin entered into an amended five-year credit agreement with a syndicate of banks, with substantially the same terms and conditions as the prior credit agreements. The maturity was extended from June 2024 to September 2027. 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, 2022, 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 ban k 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, 2022 and Dec. 31, 2021. Other Short-Term Borrowings — Clearwater Investments, Inc., a NSP-Wisconsin subsidiary, had an immaterial note payable to Xcel Energy Inc. as of Sept. 30, 2022 and Dec. 31, 2021, respectively. Long-Term Borrowings and Other Financing Instruments During the nine months ended Sept. 30, 2022

Revenues

Revenues	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenues	Revenue is classified by the type of goods/services rendered and market/customer type. NSP-Wisconsin’s operating revenues consisted of the following: Three Months Ended (Millions of Dollars) Electric Natural Gas Total Major revenue types Revenue from contracts with customers: Residential $ 78 $ 9 $ 87 C&I 139 9 148 Other 2 — 2 Total retail 219 18 237 Interchange 51 — 51 Other 1 1 2 Total revenue from contracts with customers 271 19 290 Alternative revenue and other 3 1 4 Total revenues $ 274 $ 20 $ 294 Three Months Ended (Millions of Dollars) Electric Natural Gas Total Major revenue types Revenue from contracts with customers: Residential $ 73 $ 8 $ 81 C&I 126 12 138 Other 2 — 2 Total retail 201 20 221 Interchange 48 — 48 Other — 2 2 Total revenue from contracts with customers 249 22 271 Alternative revenue and other 3 — 3 Total revenues $ 252 $ 22 $ 274 Nine Months Ended (Millions of Dollars) Electric Natural Gas Total Major revenue types Revenue from contracts with customers: Residential $ 226 $ 69 $ 295 C&I 374 58 432 Other 6 — 6 Total retail 606 127 733 Interchange 150 — 150 Other 3 3 6 Total revenue from contracts with customers 759 130 889 Alternative revenue and other 8 3 11 Total revenues $ 767 $ 133 $ 900 Nine Months Ended (Millions of Dollars) Electric Natural Gas Total Major revenue types Revenue from contracts with customers: Residential $ 208 $ 54 $ 262 C&I 336 51 387 Other 7 — 7 Total retail 551 105 656 Interchange 140 — 140 Other — 4 4 Total revenue from contracts with customers 691 109 800 Alternative revenue and other 9 1 10 Total revenues $ 700 $ 110 $ 810

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	6. Income Taxes Reconciliation between the statutory rate and effective tax rate: Nine Months Ended Sept. 30 2022 2021 Federal statutory rate 21.0 % 21.0 % State tax (net of federal tax effect) 6.2 6.2 Decreases: Plant regulatory differences (a) (3.7) (3.9) Other (net) (1.4) (2.1) Effective income tax rate 22.1 % 21.2 %

Fair Value of Financial Assets

Fair Value of Financial Assets and Liabilities	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value of Financial Assets and Liabilities	7. Fair Value of Financial Assets and Liabilities Fair Value Measurements Accounting guidance for fair value measurements and disclosures provides a single definition of fair value and requires disclosures about assets and liabilities measured at fair value. A hierarchical framework for disclosing the observability of the inputs utilized in measuring assets and liabilities at fair value is established by this guidance. • Level 1 — Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. The types of assets and liabilities included in Level 1 are highly liquid and actively traded instruments with quoted prices. • Level 2 — Pricing inputs are other than quoted prices in active markets, but are either directly or indirectly observable as of the reporting date. The types of assets and liabilities included in Level 2 are typically either comparable to actively traded securities or contracts, or priced with models using highly observable inputs. • Level 3 — Significant inputs to pricing have little or no observability as of the reporting date. The types of assets and liabilities included in Level 3 are those valued with models requiring significant management judgment or estimation. Specific valuation methods include: Cash equivalents — The fair values of cash equivalents are generally based on cost plus accrued interest; money market funds are measured using quoted net asset value. Interest rate derivatives — The fair values of interest rate derivatives are based on broker quotes that utilize current market interest rate forecasts. Commodity derivatives — Methods used to measure the fair value of commodity derivative forwards and options utilize forward prices and volatilities, as well as pricing adjustments for specific delivery locations, and are generally assigned a Level 2 classification. When contractual settlements relate to inactive delivery locations or extend to periods beyond those readily observable on active exchanges or quoted by brokers, the significance of the use of less observable inputs on a valuation is evaluated and may result in Level 3 classification. Derivative Instruments Fair Value Measurements NSP-Wisconsin enters into derivative instruments, including forward contracts, futures, swaps and options, for trading purposes and to manage risk in connection with changes in interest rates and utility commodity prices. Interest Rate Derivatives — NSP-Wisconsin may enter into various instruments that effectively fix the yield or price on a specified benchmark interest rate for an anticipated debt issuance for a specific period. These derivative instruments are generally designated as cash flow hedges for accounting purposes. As of Sept. 30, 2022 and Dec. 31, 2021, NSP-Wisconsin had no unsettled interest rate derivatives. Commodity Derivatives — NSP-Wisconsin may enter into derivative instruments to manage variability of future cash flows from changes in commodity prices in its electric and natural gas operations, as well as for trading purposes. This could include the purchase or sale of natural gas to generate electric energy and natural gas for resale. Consideration of Credit Risk and Concentrations — NSP-Wisconsin continuously monitors the creditworthiness of counterparties to its interest rate derivatives and commodity derivative contracts, prior to settlement, and assesses each counterparty’s ability to perform on the transactions set forth in the contracts. Impact of credit risk was immaterial to the fair value of unsettled commodity derivatives presented on the consolidated balance sheets. Impact of Derivative Activities on Income — Changes in the fair value of natural gas commodity derivatives resulted in $1 million in losses for the three and nine months ended Sept. 30, 2022, respectively. Changes in the fair value of natural gas commodity derivatives resulted in $3 million in gains for the three and nine months ended Sept. 30, 2021, which were recognized as regulatory assets and liabilities. The classification as a regulatory asset or liability is based on commission approved regulatory recovery mechanisms. During the three months ended Sept. 30, 2022 and 2021, there were no settlement gains or losses on natural gas commodity derivatives. During the nine months ended Sept. 30, 2022 and 2021, there were $1 million of settlement losses, respectively, which were recognized subject to purchased natural gas cost recovery mechanisms, which result in reclassifications of derivative settlement gains and losses out of income to a regulatory asset or liability, as appropriate. NSP-Wisconsin had no derivative instruments designated as fair value hedges during the three and nine months ended Sept. 30, 2022 and 2021. Recurring Fair Value Measurements — Derivative assets and liabilities measured at fair value on a recurring basis were as follows: Sept. 30, 2022 Fair Value Fair Value Total Netting (a) Total (b) (Millions of Dollars) Level 1 Level 2 Level 3 Current derivative assets Natural gas commodity $ — $ 1 $ — $ 1 $ — $ 1 Dec. 31, 2021 Fair Value Fair Value Total Netting (a) Total (b) (Millions of Dollars) Level 1 Level 2 Level 3 Current derivative assets Natural gas commodity $ — $ 1 $ — $ 1 $ — $ 1 (a) NSP-Wisconsin nets derivative instruments and related collateral on its consolidated balance sheets when supported by a legally enforceable master netting agreement. Counterparty netting amounts presented exclude settlement receivables and payables and non-derivative amounts that may be subject to the same master netting agreements. (b) Included in prepayments and other current assets at Sept. 30, 2022 and Dec. 31, 2021 on the consolidated balance sheets. Fair Value of Long-Term Debt Other financial instruments for which the carrying amount did not equal fair value: Sept. 30, 2022 Dec. 31, 2021 (Millions of Dollars) Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt, including current portion $ 1,086 $ 985 $ 987 $ 1,143 Fair value of NSP-Wisconsin’s long-term debt is estimated based on recent trades and observable spreads from benchmark interest rates for similar securities. Fair value estimates are based on information available to management as of Sept. 30, 2022 and Dec. 31, 2021 and given the observability of the inputs, fair values presented for long-term debt were assigned as Level 2.

Benefit Plans and Other Postret

Benefit Plans and Other Postretirement Benefits	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Benefit Plans and Other Postretirement Benefits	Components of Net Periodic Benefit Cost Three Months Ended Sept. 30 2022 2021 (Millions of Dollars) Pension Benefits Service cost $ 2 $ 1 Interest cost (a) 1 1 Expected return on plan assets (a) (2) (2) Amortization of net loss (a) 1 2 Settlement charge (b) 4 3 Net periodic benefit cost $ 6 $ 5 Effects of regulation (2) (2) Net benefit cost recognized for financial reporting $ 4 $ 3 Nine Months Ended Sept. 30 2022 2021 (Millions of Dollars) Pension Benefits Service cost $ 4 $ 4 Interest cost (a) 3 3 Expected return on plan assets (a) (6) (6) Amortization of net loss (a) 3 4 Settlement charge (b) 4 3 Net periodic benefit cost $ 8 $ 8 Effects of regulation (2) (2) Net benefit cost recognized for financial reporting $ 6 $ 6 (a) The components of net periodic cost other than the service cost component are included in the line item “Other expense, net” in the consolidated statements of income or capitalized on the consolidated balance sheets as a regulatory asset. (b) A settlement charge is required when the amount of all lump-sum distributions during the year is greater than the sum of the service and interest cost components of the annual net periodic pension cost. In the third quarter of 2022 and 2021 as a result of lump-sum distributions during the 2022 and 2021 plan years, NSP-Wisconsin recorded pension settlement charges of $4 million and $3 million, respectively, the majority of which were not recognized in earnings due to the effects of regulation. In January 2022, contributions of $50 million were made across four of Xcel Energy’s pension plans, of which $1 million was attributable to NSP-Wisconsin. Xcel Energy does not expect additional pension contributions during 2022.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	The following includes commitments, contingencies and unresolved contingencies that are material to NSP-Wisconsin’s financial position. Legal NSP-Wisconsin 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, 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 NSP-Wisconsin’s consolidated financial statements. Legal fees are generally expensed as incurred. Gas Trading Litigation — e prime is a wholly owned subsidiary of Xcel Energy. e prime was in the business of natural gas trading and marketing but has not engaged in natural gas trading or marketing activities since 2003. Multiple lawsuits involving multiple plaintiffs seeking monetary damages were commenced against e prime and its affiliates, including Xcel Energy, between 2003 and 2009 alleging fraud and anticompetitive activities in conspiring to restrain the trade of natural gas and manipulate natural gas prices. Cases were all consolidated in the U.S. District Court in Nevada. One case remains active which includes a multi-district litigation matter consisting of a Wisconsin purported class (Arandell Corp.). The Court issued a ruling on June 30, 2022 granting plaintiffs’ class certification. Defendants will work together to prepare and file a petition appealing the class certification ruling to the Seventh Circuit. Xcel Energy has concluded that a loss is remote for the remaining lawsuit. Rate Matters NSP-Wisconsin is involved in various regulatory proceedings arising in the ordinary course of business. Until resolution, typically in the form of a rate order, uncertainties may exist regarding the ultimate rate treatment for certain activities and transactions. Amounts have been recognized for probable and reasonably estimable losses that may result. Unless otherwise disclosed, any reasonably possible range of loss in excess of any recognized amount is not expected to have a material effect on the financial statements. MISO ROE Complaints — In November 2013 and February 2015, customer groups filed two ROE complaints against MISO TOs, which includes NSP-Minnesota and NSP-Wisconsin. The first complaint requested a reduction in base ROE transmission formula rates from 12.38% to 9.15% for the time period of Nov. 12, 2013 to Feb. 11, 2015, and removal of ROE adders (including those for RTO membership). The second complaint requested, for a subsequent time period, a base ROE reduction from 12.38% to 8.67%. The FERC subsequently issued various related orders (including Opinion Nos. 569, 569A and 569B) related to ROE methodology/calculations and timing. NSP-Minnesota has processed refunds to customers for applicable complaint periods based on the ROE in the most recent applicable opinions on behalf of the NSP System. The MISO TOs and various other parties have filed petitions for review of the FERC’s most recent applicable opinions at the D.C. Circuit. In August 2022, the D.C. Circuit ruled that FERC had not adequately supported its conclusions, vacated FERC’s related orders, and remanded the issue back to FERC for further proceedings, which remain pending. Environmental MGP, Landfill and Disposal Sites NSP-Wisconsin is investigating, remediating or performing post-closure actions at four MGP, landfill or other disposal sites across its service territories. NSP-Wisconsin has recognized its best estimate of costs/liabilities from final resolution of these issues, however, the outcome and timing is unknown. In addition, there may be insurance recovery and/or recovery from other potentially responsible parties, offsetting a portion of costs incurred. Environmental Requirements — Water and Waste Federal Clean Water Act Section 316(b) — The Federal Clean Water Act requires the EPA to regulate cooling water intake structures to assure they reflect the best technology available for minimizing impingement and entrainment of aquatic species. NSP-Wisconsin estimates capital expenditures of approximately $4 million may be required to comply with the requirements. NSP-Wisconsin believes two plants could be required to make improvements to reduce impingement and entrainment. NSP-Wisconsin anticipates these costs will be recoverable through regulatory mechanisms.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segment Information	NSP-Wisconsin evaluates performance based on profit or loss generated from the product or service provided. These segments are managed separately because the revenue streams are dependent upon regulated rate recovery, which is separately determined for each segment. NSP-Wisconsin has the following reportable segments: • Regulated Electric — The regulated electric utility segment generates electricity, which is transmitted and distributed in Wisconsin and Michigan. • Regulated Natural Gas — The regulated natural gas utility segment purchases, transports, stores and distributes natural gas in portions of Wisconsin and Michigan. Asset and capital expenditure information is not provided for NSP-Wisconsin's reportable segments. As an integrated electric and natural gas utility, NSP-Wisconsin operates significant assets that are not dedicated to a specific business segment. Reporting assets and capital expenditures by business segment would require arbitrary and potentially misleading allocations, which may not necessarily reflect the assets that would be required for the operation of the business segments on a stand-alone basis. Certain costs, such as common depreciation, common O&M expenses and interest expense are allocated based on cost causation allocators across each segment. In addition, a general allocator is used for certain general and administrative expenses, including office supplies, rent, property insurance and general advertising. NSP-Wisconsin's segment information: Three Months Ended Sept. 30 (Millions of Dollars) 2022 2021 Regulated Electric Total revenues (a) $ 274 $ 252 Net income 42 38 Regulated Natural Gas Operating revenues — external $ 20 $ 22 Intersegment revenue — 1 Total revenues $ 20 $ 23 Net (loss) (3) (4) All Other Net income $ 1 $ 2 Consolidated Total Total revenues (a) $ 294 $ 275 Reconciling eliminations — (1) Total operating revenues $ 294 $ 274 Net income 40 36 (a) Total revenues include $51 million and $49 million of affiliate electric revenue for the three months ended Sept. 30, 2022 and 2021, respectively. Nine Months Ended Sept. 30 (Millions of Dollars) 2022 2021 Regulated Electric Total revenues (a) $ 767 $ 700 Net income 89 77 Regulated Natural Gas Operating revenues $ 133 $ 110 Intersegment revenue — 1 Total revenues $ 133 $ 111 Net income 11 3 All Other Net income $ 2 $ 2 Consolidated Total Operating revenues (a) $ 900 $ 811 Reconciling eliminations — (1) Total revenues $ 900 $ 810 Net income 102 82

Selected Balance Sheet Data (Ta

Selected Balance Sheet Data (Tables)	9 Months Ended
	Sep. 30, 2022
Balance Sheet Related Disclosures [Abstract]
Accounts Receivable, Net	(Millions of dollars) Sept. 30, 2022 Dec. 31, 2021 Accounts receivable, net Accounts receivable $ 76 $ 79 Less allowance for bad debts (8) (8) Accounts receivable, net $ 68 $ 71
Inventories	(Millions of dollars) Sept. 30, 2022 Dec. 31, 2021 Inventories Materials and supplies $ 8 $ 8 Fuel 12 9 Natural gas 25 10 Total inventories $ 45 $ 27
Property, Plant and Equipment, Net	(Millions of dollars) Sept. 30, 2022 Dec. 31, 2021 Property, plant and equipment, net Electric plant $ 3,507 $ 3,348 Natural gas plant 445 423 Common and other property 255 233 Construction work in progress 157 134 Total property, plant and equipment 4,364 4,138 Less accumulated depreciation (1,544) (1,478) Property, plant and equipment, net $ 2,820 $ 2,660

Borrowings and Other Financin_2

Borrowings and Other Financing Instruments (Tables)	9 Months Ended
	Sep. 30, 2022
Borrowings and Other Financing Instruments [Abstract]
Credit Facilities	As of Sept. 30, 2022, 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.
Money Pool
Borrowings and Other Financing Instruments [Abstract]
Short-Term Borrowings	Money pool borrowings for NSP-Wisconsin: (Amounts in Millions, Except Interest Rates) Three Months Ended Sept. 30, 2022 Year Ended Dec. 31, 2021 Borrowing limit $ 150 $ 150 Amount outstanding at period end — — Average amount outstanding 34 16 Maximum amount outstanding 81 78 Weighted average interest rate, computed on a daily basis 1.93 % 0.05 % Weighted average interest rate at period end N/A N/A
Commercial Paper
Borrowings and Other Financing Instruments [Abstract]
Short-Term Borrowings	Commercial paper outstanding for NSP-Wisconsin: (Amounts in Millions, Except Interest Rates) Three Months Ended Sept. 30, 2022 Year Ended Dec. 31, 2021 Borrowing limit $ 150 $ 150 Amount outstanding at period end — 83 Average amount outstanding 8 3 Maximum amount outstanding 86 83 Weighted average interest rate, computed on a daily basis 2.14 % 0.18 % Weighted average interest rate at period end N/A 0.21

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	Revenue is classified by the type of goods/services rendered and market/customer type. NSP-Wisconsin’s operating revenues consisted of the following: Three Months Ended (Millions of Dollars) Electric Natural Gas Total Major revenue types Revenue from contracts with customers: Residential $ 78 $ 9 $ 87 C&I 139 9 148 Other 2 — 2 Total retail 219 18 237 Interchange 51 — 51 Other 1 1 2 Total revenue from contracts with customers 271 19 290 Alternative revenue and other 3 1 4 Total revenues $ 274 $ 20 $ 294 Three Months Ended (Millions of Dollars) Electric Natural Gas Total Major revenue types Revenue from contracts with customers: Residential $ 73 $ 8 $ 81 C&I 126 12 138 Other 2 — 2 Total retail 201 20 221 Interchange 48 — 48 Other — 2 2 Total revenue from contracts with customers 249 22 271 Alternative revenue and other 3 — 3 Total revenues $ 252 $ 22 $ 274 Nine Months Ended (Millions of Dollars) Electric Natural Gas Total Major revenue types Revenue from contracts with customers: Residential $ 226 $ 69 $ 295 C&I 374 58 432 Other 6 — 6 Total retail 606 127 733 Interchange 150 — 150 Other 3 3 6 Total revenue from contracts with customers 759 130 889 Alternative revenue and other 8 3 11 Total revenues $ 767 $ 133 $ 900 Nine Months Ended (Millions of Dollars) Electric Natural Gas Total Major revenue types Revenue from contracts with customers: Residential $ 208 $ 54 $ 262 C&I 336 51 387 Other 7 — 7 Total retail 551 105 656 Interchange 140 — 140 Other — 4 4 Total revenue from contracts with customers 691 109 800 Alternative revenue and other 9 1 10 Total revenues $ 700 $ 110 $ 810

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Reconciliation between the statutory rate and effective tax rate: Nine Months Ended Sept. 30 2022 2021 Federal statutory rate 21.0 % 21.0 % State tax (net of federal tax effect) 6.2 6.2 Decreases: Plant regulatory differences (a) (3.7) (3.9) Other (net) (1.4) (2.1) Effective income tax rate 22.1 % 21.2 %

Fair Value of Financial Asset_2

Fair Value of Financial Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Derivative Assets and Liabilities Measured at Fair Value on a Recurring Basis by Hierarchy Level	Recurring Fair Value Measurements — Derivative assets and liabilities measured at fair value on a recurring basis were as follows: Sept. 30, 2022 Fair Value Fair Value Total Netting (a) Total (b) (Millions of Dollars) Level 1 Level 2 Level 3 Current derivative assets Natural gas commodity $ — $ 1 $ — $ 1 $ — $ 1 Dec. 31, 2021 Fair Value Fair Value Total Netting (a) Total (b) (Millions of Dollars) Level 1 Level 2 Level 3 Current derivative assets Natural gas commodity $ — $ 1 $ — $ 1 $ — $ 1 (a) NSP-Wisconsin nets derivative instruments and related collateral on its consolidated balance sheets when supported by a legally enforceable master netting agreement. Counterparty netting amounts presented exclude settlement receivables and payables and non-derivative amounts that may be subject to the same master netting agreements. (b) Included in prepayments and other current assets at Sept. 30, 2022 and Dec. 31, 2021 on the consolidated balance sheets.
Carrying Amount and Fair Value of Long-term Debt	Other financial instruments for which the carrying amount did not equal fair value: Sept. 30, 2022 Dec. 31, 2021 (Millions of Dollars) Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt, including current portion $ 1,086 $ 985 $ 987 $ 1,143

Benefit Plans and Other Postr_2

Benefit Plans and Other Postretirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost	Components of Net Periodic Benefit Cost Three Months Ended Sept. 30 2022 2021 (Millions of Dollars) Pension Benefits Service cost $ 2 $ 1 Interest cost (a) 1 1 Expected return on plan assets (a) (2) (2) Amortization of net loss (a) 1 2 Settlement charge (b) 4 3 Net periodic benefit cost $ 6 $ 5 Effects of regulation (2) (2) Net benefit cost recognized for financial reporting $ 4 $ 3 Nine Months Ended Sept. 30 2022 2021 (Millions of Dollars) Pension Benefits Service cost $ 4 $ 4 Interest cost (a) 3 3 Expected return on plan assets (a) (6) (6) Amortization of net loss (a) 3 4 Settlement charge (b) 4 3 Net periodic benefit cost $ 8 $ 8 Effects of regulation (2) (2) Net benefit cost recognized for financial reporting $ 6 $ 6 (a) The components of net periodic cost other than the service cost component are included in the line item “Other expense, net” in the consolidated statements of income or capitalized on the consolidated balance sheets as a regulatory asset. (b) A settlement charge is required when the amount of all lump-sum distributions during the year is greater than the sum of the service and interest cost components of the annual net periodic pension cost. In the third quarter of 2022 and 2021 as a result of lump-sum distributions during the 2022 and 2021 plan years, NSP-Wisconsin recorded pension settlement charges of $4 million and $3 million, respectively, the majority of which were not recognized in earnings due to the effects of regulation. In January 2022, contributions of $50 million were made across four of Xcel Energy’s pension plans, of which $1 million was attributable to NSP-Wisconsin. Xcel Energy does not expect additional pension contributions during 2022.	[1]
[1]The components of net periodic cost other than the service cost component are included in the line item “Other expense, net” in the consolidated statements of income or capitalized on the consolidated balance sheets as a regulatory asset. (b) A settlement charge is required when the amount of all lump-sum distributions during the year is greater than the sum of the service and interest cost components of the annual net periodic pension cost. In the third quarter of 2022 and 2021 as a result of lump-sum distributions during the 2022 and 2021 plan years, NSP-Wisconsin recorded pension settlement charges of $4 million and $3 million, respectively, the majority of which were not recognized in earnings due to the effects of regulation.

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	NSP-Wisconsin's segment information: Three Months Ended Sept. 30 (Millions of Dollars) 2022 2021 Regulated Electric Total revenues (a) $ 274 $ 252 Net income 42 38 Regulated Natural Gas Operating revenues — external $ 20 $ 22 Intersegment revenue — 1 Total revenues $ 20 $ 23 Net (loss) (3) (4) All Other Net income $ 1 $ 2 Consolidated Total Total revenues (a) $ 294 $ 275 Reconciling eliminations — (1) Total operating revenues $ 294 $ 274 Net income 40 36 (a) Total revenues include $51 million and $49 million of affiliate electric revenue for the three months ended Sept. 30, 2022 and 2021, respectively. Nine Months Ended Sept. 30 (Millions of Dollars) 2022 2021 Regulated Electric Total revenues (a) $ 767 $ 700 Net income 89 77 Regulated Natural Gas Operating revenues $ 133 $ 110 Intersegment revenue — 1 Total revenues $ 133 $ 111 Net income 11 3 All Other Net income $ 2 $ 2 Consolidated Total Operating revenues (a) $ 900 $ 811 Reconciling eliminations — (1) Total revenues $ 900 $ 810 Net income 102 82 (a) Total revenues include $150 million and $141 million of affiliate electric revenue for the nine months ended Sept. 30, 2022 and 2021, respectively.

Selected Balance Sheet Data - A

Selected Balance Sheet Data - Accounts Receivable (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Accounts Receivable, Net
Accounts receivable	$ 76	$ 79
Less allowance for bad debts	(8)	(8)
Accounts receivable, net	$ 68	$ 71

Selected Balance Sheet Data - I

Selected Balance Sheet Data - Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Inventory [Line Items]
Total Inventories	$ 45	$ 27
Materials and supplies
Inventory [Line Items]
Inventories	8	8
Fuel
Inventory [Line Items]
Inventories	12	9
Natural gas
Inventory [Line Items]
Inventories	$ 25	$ 10

Selected Balance Sheet Data - P

Selected Balance Sheet Data - Property, Plant and Equipment (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Public Utility, Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 4,364	$ 4,138
Less accumulated depreciation	(1,544)	(1,478)
Property, plant and equipment, net	2,820	2,660
Electric plant
Public Utility, Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	3,507	3,348
Natural gas plant
Public Utility, Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	445	423
Common and other property
Public Utility, Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	255	233
Construction work in progress
Public Utility, Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 157	$ 134

Borrowings and Other Financin_3

Borrowings and Other Financing Instruments, Commercial Paper (Details) - USD ($)		3 Months Ended	12 Months Ended
		Sep. 30, 2022	Dec. 31, 2021
Short-term Debt [Line Items]
Amount outstanding at period end		$ 0	$ 83,000,000
Credit Facility
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	[1]	150,000,000
Long-term Line of Credit		0	0
Payable to Affiliates
Short-term Debt [Line Items]
Notes Payable, Related Parties, Current		0	0
Commercial Paper
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		150,000,000	150,000,000
Amount outstanding at period end		0	83,000,000
Average amount outstanding		8,000,000	3,000,000
Maximum amount outstanding		$ 86,000,000	$ 83,000,000
Weighted average interest rate, computed on a daily basis		2.14%	0.18%
Weighted average interest rate at period end			0.21%
Money Pool
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 150,000,000	$ 150,000,000
Amount outstanding at period end		0	0
Average amount outstanding		34,000,000	16,000,000
Maximum amount outstanding		$ 81,000,000	$ 78,000,000
Weighted average interest rate, computed on a daily basis		1.93%	0.05%
[1]Expires in September 2027.

Borrowings and Other Financin_4

Borrowings and Other Financing Instruments, Letters of Credit (Details) - USD ($)	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Line of Credit Facility [Line Items]
Line of Credit Facility, Expiration Period	1 year
Amount outstanding at period end	$ 0	$ 83,000,000
Credit Facility
Line of Credit Facility [Line Items]
Long-term Line of Credit	$ 0	$ 0

Borrowings and Other Financin_5

Borrowings and Other Financing Instruments, Credit Facility (Details) - Credit Facility - USD ($)		Sep. 30, 2022	Dec. 31, 2021
Line of Credit Facility [Line Items]
Credit Facility	[1]	$ 150,000,000
Outstanding	[2]	0
Available		150,000,000
Direct advances on the credit facility outstanding		$ 0	$ 0
[1]Expires in September 2027.[2]Includes outstanding commercial paper.

Borrowings and Other Financin_6

Borrowings and Other Financing Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Series Due September 15, 2052 | Bonds [Member]
Short-term Debt [Line Items]
Debt Instrument, Face Amount	$ 100
Debt Instrument, Interest Rate, Stated Percentage	4.86%
Payable to Affiliates
Short-term Debt [Line Items]
Notes Payable, Related Parties, Current	$ 0	$ 0

Revenues (Details)

Revenues (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Total revenues
Disaggregation of Revenue [Line Items]
Total revenues	$ 294	$ 274	$ 900	$ 810
Regulated Electric | Total revenues
Disaggregation of Revenue [Line Items]
Total revenues	274	252	767	700
Regulated Natural Gas | Total revenues
Disaggregation of Revenue [Line Items]
Total revenues	20	22	133	110
Retail
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	237	221	733	656
Retail | Residential
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	87	81	295	262
Retail | C&I
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	148	138	432	387
Retail | Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2	2	6	7
Retail | Regulated Electric
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	219	201	606	551
Retail | Regulated Electric | Residential
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	78	73	226	208
Retail | Regulated Electric | C&I
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	139	126	374	336
Retail | Regulated Electric | Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2	2	6	7
Retail | Regulated Natural Gas
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	18	20	127	105
Retail | Regulated Natural Gas | Residential
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	9	8	69	54
Retail | Regulated Natural Gas | C&I
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	9	12	58	51
Retail | Regulated Natural Gas | Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0	0
Interchange
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	51	48	150	140
Interchange | Regulated Electric
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	51	48	150	140
Interchange | Regulated Natural Gas
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0	0
Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2	2	6	4
Other | Regulated Electric
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1	0	3	0
Other | Regulated Natural Gas
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1	2	3	4
Total revenue from contracts with customers
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	290	271	889	800
Total revenue from contracts with customers | Regulated Electric
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	271	249	759	691
Total revenue from contracts with customers | Regulated Natural Gas
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	19	22	130	109
Alternative revenue and other
Disaggregation of Revenue [Line Items]
Alternative revenue and other	4	3	11	10
Alternative revenue and other | Regulated Electric
Disaggregation of Revenue [Line Items]
Alternative revenue and other	3	3	8	9
Alternative revenue and other | Regulated Natural Gas
Disaggregation of Revenue [Line Items]
Alternative revenue and other	$ 1	$ 0	$ 3	$ 1

Income Taxes (Details)

Income Taxes (Details)		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		21%	21%
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent		6.20%	6.20%
Effective Income Tax Rate Reconciliation, Other Regulatory Items, Percent	[1]	(3.70%)	(3.90%)
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent		(1.40%)	(2.10%)
Effective Income Tax Rate Reconciliation, Percent		22.10%	21.20%
[1]Regulatory differences for income tax primarily relate to the credit of excess deferred taxes to customers through the average rate assumption method. Income tax benefits associated with the credit of excess deferred taxes are offset by corresponding revenue reductions.

Fair Value of Financial Asset_3

Fair Value of Financial Assets and Liabilities - Interest Rate Derivatives (Details) - USD ($) $ in Millions		Sep. 30, 2022	Dec. 31, 2021
Interest Rate Swap
Derivative [Line Items]
Derivative Liability, Notional Amount		$ 0	$ 0
Natural Gas Commodity | Other Derivative Instruments | Fair Value, Recurring [Member]
Derivative [Line Items]
Derivative Asset, Net	[1]	1	1
Natural Gas Commodity | Other Derivative Instruments | Other Current Assets | Fair Value, Recurring [Member]
Derivative [Line Items]
Derivative Asset, Gross		1	1
Netting	[2]	0	0
Natural Gas Commodity | Other Derivative Instruments | Other Current Assets | Level 1 | Fair Value, Recurring [Member]
Derivative [Line Items]
Derivative Asset, Gross		0	0
Natural Gas Commodity | Other Derivative Instruments | Other Current Assets | Level 2 | Fair Value, Recurring [Member]
Derivative [Line Items]
Derivative Asset, Gross		1	1
Natural Gas Commodity | Other Derivative Instruments | Other Current Assets | Level 3 | Fair Value, Recurring [Member]
Derivative [Line Items]
Derivative Asset, Gross		$ 0	$ 0
[1]Included in prepayments and other current assets at Sept. 30, 2022 and Dec. 31, 2021 on the consolidated balance sheets.[2]NSP-Wisconsin nets derivative instruments and related collateral on its consolidated balance sheets when supported by a legally enforceable master netting agreement. Counterparty netting amounts presented exclude settlement receivables and payables and non-derivative amounts that may be subject to the same master netting agreements.

Fair Value of Financial Asset_4

Fair Value of Financial Assets and Liabilities - Impact of Derivative Activities on Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments designated as fair value hedges	$ 0	$ 0	$ 0	$ 0
Financial Impact of Qualifying Fair Value Hedges on Earnings [Abstract]
Derivative instruments designated as fair value hedges	0	0	0	0
Other Derivative Instruments | Natural Gas Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Pre-tax (gains) losses reclassified into income during the period from regulatory assets and (liabilities)	0	0	(1)	(1)
Other Derivative Instruments | Electric Commodity Contract
Derivative Instruments, Gain (Loss) [Line Items]
Pre-tax fair value gains (losses) recognized during the period in regulatory (assets) and liabilities	$ 1	$ 3	$ 1	$ 3

Fair Value of Financial Asset_5

Fair Value of Financial Assets and Liabilities - Recurring Fair Value Measurements (Details) - USD ($) $ in Millions		Sep. 30, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Prepayments and other		$ 7	$ 7
Derivative Asset, Statement of Financial Position [Extensible Enumeration]		Assets, Current	Assets, Current
Fair Value Measured on a Recurring Basis | Other Derivative Instruments | Natural Gas Commodity
Derivatives, Fair Value [Line Items]
Derivative Asset, Net	[1]	$ 1	$ 1
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Natural Gas Commodity
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		1	1
Netting	[2]	0	0
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Natural Gas Commodity | Level 1
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		0	0
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Natural Gas Commodity | Level 2
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		1	1
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Natural Gas Commodity | Level 3
Derivatives, Fair Value [Line Items]
Derivative Asset, Gross		$ 0	$ 0
[1]Included in prepayments and other current assets at Sept. 30, 2022 and Dec. 31, 2021 on the consolidated balance sheets.[2]NSP-Wisconsin nets derivative instruments and related collateral on its consolidated balance sheets when supported by a legally enforceable master netting agreement. Counterparty netting amounts presented exclude settlement receivables and payables and non-derivative amounts that may be subject to the same master netting agreements.

Fair Value of Financial Asset_6

Fair Value of Financial Assets and Liabilities - Fair Value of Long-Term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Carrying Amount	$ 1,086	$ 987
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	$ 985	$ 1,143

Benefit Plans and Other Postr_3

Benefit Plans and Other Postretirement Benefits (Details) - Pension Plan [Member] $ in Millions		1 Months Ended	3 Months Ended		9 Months Ended
		Jan. 31, 2022 USD ($) Plan	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)
Components of Net Periodic Benefit Cost [Abstract]
Service cost			$ 2	$ 1	$ 4	$ 4
Interest cost (a)	[1]		1	1	3	3
Expected return on plan assets (a)	[1]		(2)	(2)	(6)	(6)
Amortization of net loss (a)	[1]		1	2	3	4
Net periodic benefit cost			6	5	8	8
Effects of regulation			(2)	(2)	(2)	(2)
Net benefit cost recognized for financial reporting			4	3	6	6
Contributions to pension plans		$ 1
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement	[2]		$ 4	$ 3	$ 4	$ 3
Parent Company [Member]
Components of Net Periodic Benefit Cost [Abstract]
Contributions to pension plans		$ 50
Number of Xcel Energy's pension plans to which contributions were made | Plan		4
[1]The components of net periodic cost other than the service cost component are included in the line item “Other expense, net” in the consolidated statements of income or capitalized on the consolidated balance sheets as a regulatory asset. (b) A settlement charge is required when the amount of all lump-sum distributions during the year is greater than the sum of the service and interest cost components of the annual net periodic pension cost. In the third quarter of 2022 and 2021 as a result of lump-sum distributions during the 2022 and 2021 plan years, NSP-Wisconsin recorded pension settlement charges of $4 million and $3 million, respectively, the majority of which were not recognized in earnings due to the effects of regulation.

Commitments and Contingencies G

Commitments and Contingencies Gas Trading Litigation (Details)	Sep. 30, 2022
Gas Trading Litigation
Loss Contingencies [Line Items]
Loss Contingency, Pending Claims, Number	1

MISO ROE Complaints (Details)

MISO ROE Complaints (Details) - Federal Energy Regulatory Commission (FERC) - FERC Proceeding, MISO ROE Complaint - NSP Minnesota and NSP Wisconsin [Member] [Member]	1 Months Ended
	Feb. 28, 2015	Nov. 30, 2013
Rate Matters [Abstract]
Public Utilities, Base Return On Equity Charged To Customers Through Transmission Formula Rates	12.38%	12.38%
Public Utilities, ROE Applicable To Transmission Formula Rates In The MISO Region, Recommended By Third Parties	8.67%	9.15%

Commitments and Contingencies (

Commitments and Contingencies (Details) - Enviromental Requirements	Sep. 30, 2022 USD ($)
Loss Contingencies [Line Items]
Liability for estimated cost to comply with regulation	$ 4,000,000
Gain Contingencies [Line Items]
Liability for estimated cost to comply with regulation	4,000,000
Plants required for improvements	$ 2
Other MGP, Landfill, or Disposal Sites [Domain]
Loss Contingencies [Line Items]
Number of identified MGP sites under current investigation and/or remediation	4
Gain Contingencies [Line Items]
Number of identified MGP sites under current investigation and/or remediation	4

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2022		Sep. 30, 2021		Sep. 30, 2022		Sep. 30, 2021
Segment Reporting Information [Line Items]
Net income	$ 40		$ 36		$ 102		$ 82
Regulated and Unregulated Operating Revenue	294		274		900	[1]	810	[1]
Affiliate Revenue	51		49		150		141
Natural gas	20		22		133		110
Total revenues
Segment Reporting Information [Line Items]
Regulated and Unregulated Operating Revenue	294	[2]	275	[2]	900		811
Intersegment Eliminations
Segment Reporting Information [Line Items]
Net income					0		(1)
Regulated and Unregulated Operating Revenue	0		(1)
Regulated Electric
Segment Reporting Information [Line Items]
Net income	42		38		89		77
Regulated Electric | Total revenues
Segment Reporting Information [Line Items]
Regulated Operating Revenue, Electric	274	[2]	252	[2]	767	[1]	700	[1]
Regulated Natural Gas
Segment Reporting Information [Line Items]
Net income	(3)		(4)		11		3
Revenues Including Intersegment Revenues	20		23		133		111
Regulated Natural Gas | Total revenues
Segment Reporting Information [Line Items]
Natural gas	20		22		133		110
Regulated Natural Gas | Intersegment Eliminations
Segment Reporting Information [Line Items]
Natural gas	0		1		0		1
All Other
Segment Reporting Information [Line Items]
Net income	$ 1		$ 2		$ 2		$ 2
[1]Total revenues include $150 million and $141 million of affiliate electric revenue for the nine months ended Sept. 30, 2022 and 2021, respectively[2]Total revenues include $51 million and $49 million of affiliate electric revenue for the three months ended Sept. 30, 2022 and 2021, respectively.