Higher first quarter 2009 earnings were mainly due to improved financial performance at Southwestern Public Service Company, interim electric rates in Minnesota and improved fuel cost recovery in Wisconsin, partially offset by a decline in earnings at Public Service Company of Colorado.
“We are pleased to report solid earnings, reflecting the continued execution of our strategy to invest in our core utility businesses and earn a reasonable return on our invested capital,” said Richard C. Kelly, chairman, president and chief executive officer. “Despite the challenging economic environment our business plan remains on track and we are reaffirming our 2009 earnings guidance of $1.45 to $1.55 per share.”
