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This document is Northern States Power Company's (NSP-Wisconsin) annual report on Form 10-K filed with the SEC for the fiscal year ended December 31, 2007. NSP-Wisconsin is an operating public utility engaged in the generation, transmission, distribution and sale of electricity and natural gas in portions of Wisconsin and Michigan. It had approximately 246,000 electric customers and 102,000 natural gas customers. The report provides an overview of NSP-Wisconsin's operations, discusses its regulatory environment and recent regulatory developments, and outlines its principal business risks and challenges.



































































