Segment Reporting

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segment Reporting Disclosure

SPS is a wholly owned subsidiary of Xcel Energy. SPS’ chief operating decision maker, the CEO of Xcel Energy Inc., sets the single-segment financial performance objectives and budgets of SPS based on net income generated by its regulated electric utility operations. The regulated electric utility segment generates, purchases, transmits, distributes and sells electricity in New Mexico and Texas. The CEO assesses financial performance, including quarterly and annual budget-to-actual and year-over-year variances in revenues and expenses, to inform operating decisions, capital investments and cost recovery strategies.

Other segment expenses, net, includes conservation and DSM expenses, taxes (other than income taxes), other income, net and AFUDC - equity.