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Borrowings and Other Financing Instruments (Tables)
12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Money Pool [Table Text Block]
Money pool borrowings:
(Millions of Dollars, Except Interest Rates)Three Months Ended Dec. 31, 2025Year Ended Dec. 31
202520242023
Borrowing limit$100 $100 $100 $100 
Amount outstanding at period end62 62 27 
Average amount outstanding45 31 24 46 
Maximum amount outstanding100 100 100 100 
Weighted average interest rate, computed on a daily basis3.95 %4.19 %5.29 %5.04 %
Weighted average interest rate at end of period3.88 3.88 4.58 5.34 
Short-Term Borrowings Commercial paper outstanding:
(Millions of Dollars, Except Interest Rates)Three Months Ended Dec. 31, 2025Year Ended Dec. 31
202520242023
Borrowing limit$600 $600 $500 $500 
Amount outstanding at period end220 220 145 75 
Average amount outstanding68 97 35 50 
Maximum amount outstanding235 314 160 119 
Weighted average interest rate, computed on a daily basis4.00 %4.51 %5.47 %5.12 %
Weighted average interest rate at end of period3.93 3.93 4.66 5.56 
Schedule Of Debt To Total Capitalization Ratio [Table Text Block]
Features of SPS’ credit facility:
Debt-to-Total Capitalization Ratio (a)
Amount Facility May Be Increased (millions of dollars)
Additional Periods for Which a One-Year Extension May Be Requested (b)
20252024
47.20%46.60%$602
(a)The credit facility has a financial covenant requiring that the debt-to-total capitalization ratio be less than or equal to 65%.
(b)All extension requests are subject to majority bank group approval.
[1],[2]
Credit Facilities
SPS had the following committed credit facility available as of Dec. 31, 2025 (in millions) of dollars:
Credit Facility (a)
Drawn (b)
Available
$600 $220 $380 
(a)This credit facility matures in December 2029.
(b)Includes letters of credit and outstanding commercial paper.
[3],[4]
Schedule of Long-term Debt Instruments [Table Text Block]
Long-term debt obligations for SPS as of Dec. 31 (in millions of dollars):
Financing InstrumentInterest RateMaturity Date20252024
Unsecured senior notes6.00 %Oct. 1, 2033$100 $100 
First mortgage bonds (a)
5.30 May 15, 2035500 — 
Unsecured senior notes6.00 Oct. 1, 2036250 250 
First mortgage bonds4.50 Aug. 15, 2041200 200 
First mortgage bonds4.50 Aug. 15, 2041100 100 
First mortgage bonds4.50 Aug. 15, 2041100 100 
First mortgage bonds3.40 Aug. 15, 2046300 300 
First mortgage bonds3.70 Aug. 15, 2047450 450 
First mortgage bonds4.40 Nov. 15, 2048300 300 
First mortgage bonds3.75 June 15, 2049300 300 
First mortgage bonds3.15 May 1, 2050350 350 
First mortgage bonds3.15 May 1, 2050250 250 
First mortgage bonds5.15 June 1, 2052200 200 
First mortgage bonds6.00 Sept. 15, 2053100 100 
First mortgage bonds (b)
6.00 June 1, 2054600 600 
Unamortized discount(14)(14)
Unamortized debt issuance cost(40)(35)
Total long-term debt$4,046 $3,551 
(a)2025 financing.
(b)2024 financing.
[5]
Schedule of Stock by Class [Table Text Block] SPS has the following preferred stock:
Preferred Stock Authorized (Shares)Par Value of Preferred StockPreferred Stock Outstanding (Shares) 2025 and 2024
10,000,000 1.00 — 
Dividend Payment Restrictions [Text Block]
Requirements and actuals as of Dec. 31, 2025:
Equity to Total Capitalization Ratio
Required Range
Equity to Total Capitalization Ratio Actual (a)
LowHigh2025
45.00 %55.00 %54.47 %
(a)Excludes short-term debt.
Unrestricted Retained EarningsTotal Capitalization
Limit on Total Capitalization (a)
$622  million$8,888 millionN/A
(a)SPS may not pay a dividend that would cause it to lose its investment grade bond rating.
[1] All extension requests are subject to majority bank group approval.
[2] The credit facility has a financial covenant requiring that the debt-to-total capitalization ratio be less than or equal to 65%.
[3] Includes letters of credit and outstanding commercial paper.
[4] This credit facility matures in December 2029.
[5] 2024 financing