v3.26.1
Borrowings and Other Financing Instruments
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Borrowings and Other Financing Instruments
Short-Term Borrowings
PSCo meets its short-term liquidity requirements primarily through the issuance of commercial paper and borrowings under its credit facility and the money pool.
Money Pool — Xcel Energy Inc. and its utility subsidiaries have established a money pool arrangement that allows for short-term investments in and borrowings between the utility subsidiaries. Xcel Energy Inc. may make investments in the utility subsidiaries at market-based interest rates; however, the money pool arrangement does not allow the utility subsidiaries to make investments in Xcel Energy Inc.
Money pool borrowings:
(Amounts in Millions, Except Interest Rates)Three Months Ended June 30, 2026Year Ended Dec. 31, 2025
Borrowing limit$250 $250 
Amount outstanding at period end— 27 
Average amount outstanding2 37 
Maximum amount outstanding50 250 
Weighted average interest rate, computed on a daily basis3.65 %4.31 %
Weighted average interest rate at period endN/A3.88
Commercial Paper — Commercial paper outstanding:
(Amounts in Millions, Except Interest Rates)Three Months Ended June 30, 2026Year Ended Dec. 31, 2025
Borrowing limit$1,200 $1,200 
Amount outstanding at period end— 260 
Average amount outstanding2 106 
Maximum amount outstanding40 725 
Weighted average interest rate, computed on a daily basis3.89 %4.25 %
Weighted average interest rate at period endN/A3.89 
Revolving Credit Facility — In order to issue its commercial paper, PSCo must have a revolving credit facility equal to or greater than 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.
PSCo has the right to request an extension of the revolving credit facility termination date for two additional one-year periods. All extension requests are subject to majority bank group approval.
At June 30, 2026, PSCo had the following committed revolving credit facility available (in millions of dollars):
Credit Facility (a)
Drawn (b)
Available
$1,200 $48 $1,152 
(a)Expires in December 2029.
(b)Includes outstanding commercial paper and letters of credit.
All credit facility bank borrowings, outstanding letters of credit and outstanding commercial paper reduce the available capacity under the credit facility. PSCo had no direct advances on the credit facility outstanding at June 30, 2026 and Dec. 31, 2025.
Letters of Credit — PSCo uses letters of credit, generally with terms of one year, to provide financial guarantees for certain obligations. At both June 30, 2026 and Dec. 31, 2025, there were $48 million of letters of credit outstanding under the credit facility. Amounts approximate their fair value and are subject to fees.
Additionally, in March 2026, PSCo entered into an uncommitted continuing letter of credit agreement with an overall limit of $50 million to provide additional letter of credit capacity outside of the revolving credit facility. As of June 30, 2026, $1 million of letters of credit were outstanding under this continuing letter of credit agreement.
Long-Term Borrowings
During the six months ended June 30, 2026, PSCo issued $700 million in aggregate principal amount of 4.15% First Mortgage Bonds, Series No. 45 due March 13, 2029 and $600 million in aggregate principal amount of 5.05% First Mortgage Bonds, Series No. 46 due June 15, 2036.