Segment Reporting

12 Months Ended

Dec. 31, 2025

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.

	2025		2024		2023
(Millions of Dollars)	Regulated electric utility		Regulated electric utility		Regulated electric utility
Operating revenues	$	2,180	$	1,939	$	2,152
Electric fuel and purchased power	756		588		910
O&M expenses	343		313		279
Depreciation and amortization	464		455		368
Other segment expenses, net (a)	85		93		120
Interest charges and financing costs	177		153		136
Income tax benefit	(40)		(57)		(45)
Net income	$	395	$	394	$	384

(a)Other segment expenses, net, for 2023 additionally includes workforce reduction expenses.