SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) NOVEMBER 23, 1999
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NORTHERN STATES POWER COMPANY
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(Exact name of registrant as specified in its charter)
MINNESOTA
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(State or other jurisdiction of incorporation)
1-3034 41-0448030
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(Commission File Number) (IRS Employer Identification No.)
414 NICOLLET MALL, MPLS, MN 55401
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 612-330-5500
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(Former name or former address, if changed since last report)
<PAGE>
Item 5 - Other Events
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In a joint press release with New Century Energies, Inc., Northern States Power
Company announced the proposed business structure and officer team for Xcel
Energy, Inc. The press release is attached as Exhibit 99.01.
Item 7 - Financial Statements and Exhibits
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(c) Exhibits
99.01 - Press release dated Nov. 23, 1999 announcing the proposed Xcel Energy
business structure and officer team.
<PAGE>
SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Northern States Power Company
(a Minnesota Corporation)
By /s/
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E.J. McIntyre
Vice President and Chief Financial Officer
Dated: November 23, 1999
<PAGE>
EXHIBIT 99.01
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JOINT NEWS RELEASE
[NCE LOGO] [NSP LOGO]
For NCE: For NSP:
Media Relations Media Relations
(303) 294-8900 (612) 330-6670
Investors, Mike Pritchard Investors, Dick Kolkmann
(303) 294-2588 (612) 330-6622
www.ncenergies.com www.nspco.com
BUSINESS STRUCTURE, OFFICER TEAM ANNOUNCED FOR XCEL ENERGY
DENVER and MINNEAPOLIS (Nov. 23, 1999) - Top leadership of the future Xcel
Energy Inc. today announced a new organization and officer group to position the
new company as a strong competitor in the rapidly changing energy environment.
Xcel Energy will be created by the pending merger of New Century Energies
(NYSE:NCE), Denver, and Northern States Power Co. (NYSE: NSP), Minneapolis.
Final regulatory approval is expected in the second quarter of 2000.
"This is a great leadership team," said Jim Howard, NSP chairman,
president and chief executive officer. "Knowing now who the leaders will be and
having the structure in place will put us in a better position to move forward
as soon as the merger is approved."
Wayne Brunetti, NCE vice chairman of the board, president and chief
operating officer, said a team of representatives from both companies has been
working for several months on a merger integration plan. "The business unit
evolution is on track, and in order for the transition to go smoothly, the new
leadership needed to be announced."
Upon completion of the merger, Howard will serve as chairman of Xcel for
one year. Brunetti will be president and CEO and will assume the
responsibilities as chairman upon Howard's retirement.
The following officers will assume business unit responsibilities upon
completion of the merger. Some organizations not listed at this time will be
announced later.
PAUL BONAVIA-ENERGY MARKETS, BASED IN DENVER. The group will be
responsible for fuel acquisition and energy sales for Xcel's regulated and
non-regulated generation and for energy acquisition for the Retail business
unit. Bonavia also will oversee e prime wholesale marketing,
Young Gas Storage, and Viking Gas Transmission. Bonavia currently is NCE
president, International Business, and general counsel.
DICK KELLY-ENTERPRISES, MINNEAPOLIS. The group will include Corporate
Development and Corporate Strategy. Kelly also will oversee Seren, Yorkshire
Electricity, NRG, Quixx, and Utility Engineering. Kelly currently is NCE
executive vice president and chief financial officer.
TOM PETILLO-RETAIL, DENVER. This unit will be responsible for Customer
Service, Marketing and Sales. Petillo also will oversee Energy Masters and
Planergy, both energy service organizations, and Cadence, a partnership that
provides services to multi-location national chains. Petillo currently is
NCE president, Retail Services, and executive vice president.
LARRY TAYLOR-DELIVERY, MINNEAPOLIS. Taylor's organization will include
all electric and gas operations and the subsidiary UltraPower. Taylor
currently is president of NSP Electric.
DAVID WILKS-ENERGY SUPPLY, DENVER. This will include Fossil, Hydro/Other
Generation and Environmental and for the time being, Nuclear Operations, as it
makes its transition to a nuclear management company, as well as Nuclear Asset
Management. Wilks currently is NCE president, Delivery Services.
At the time of the merger, JOHN NOER will assume a new position at NRG
Energy, overseeing all construction and operation activities for NRG's power
plants worldwide. Noer currently is president of NSP Combustion and Hydro
Generation.
The following will assume these administrative responsibilities upon
completion of the merger.
GARY JOHNSON-GENERAL COUNSEL, MINNEAPOLIS. Reporting to Johnson will be
Rates and Regulation, Corporate Secretary, and Claims. He currently is NSP vice
president and general counsel.
CYNDI LESHER-CHIEF ADMINISTRATIVE OFFICER, MINNEAPOLIS. Lesher will
oversee Shared Services, including Employee Services (formerly Human Resources),
Supply Chain, Internal Consulting Services (such as business processes),
Facility Services and Security. Other organizations will be announced later as
members of the Shared Services team. Lesher currently is president of NSP Gas.
JIM MCINTYRE-CHIEF FINANCIAL OFFICER, MINNEAPOLIS. McIntyre's organization
comprises Finance, Accounting, Investor Relations, Risk Management and Auditing.
It also will include the tax-advantaged subsidiaries PSRI (PSR Investments,
Inc.), PSCC (Public Service Credit Corporation), and Eloigne (an affordable
housing subsidiary). McIntyre currently is NSP vice president and chief
financial officer.
Howard and Brunetti said both companies soon will make "Hart-Scott-Rodino"
antitrust filings with the Department of Justice and Federal Trade Commission.
Once that review is completed, they expect the new management team will begin
transitioning into their new responsibilities as soon as the regulatory process
permits.
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