This document is a Form 10-K annual report filed by Public Service Company of Colorado (PSCo) with the Securities and Exchange Commission for the fiscal year ending December 31, 2004. It provides an overview of PSCo's operations, including its electric and natural gas utility businesses in Colorado. PSCo generates, transmits, and distributes electricity and distributes natural gas to over 1.3 million electric customers and 1.2 million natural gas customers in Colorado. PSCo is a wholly owned subsidiary of Xcel Energy, a registered utility holding company.