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Page 1 of 5 Formula Rate Non-Levelized Rate Formula Template Utilizing FERC Form 1 Data For the 12 months ended 12/31/14 Northern States Power Companies Line No. 1 GROSS REVENUE REQUIREMENT (page

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Formula rate - non-levelized refers to a method used to determine the rates for certain expenses that are not levelized throughout the year. These rates are typically adjusted periodically based on changes in costs or other factors.

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