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Xcel Energy unveils Colorado Energy Plan

Power News - Published on Mon, 19 Mar 2018

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Xcel Energy filed a stipulation with a broad coalition of 14 diverse groups, asking the Colorado Public Utilities Commission to approve a process that could lead to USD 2.5 billion in clean energy investments in rural Colorado if there is no additional cost to the company’s electricity customers. In order to accommodate cleaner energy generating resources for the state, the proposal also calls for the consideration of the early retirement of two coal generation units in southern Colorado.

Xcel Energy’s “Colorado Energy Plan” proposes a proactive and widely supported electricity generating portfolio to augment the company’s current 2016 Electric Resource Plan.

The “Colorado Energy Plan” proposes a proactive and widely supported electricity generating portfolio to augment the company’s current 2016 Electric Resource Plan. In addition, the Colorado Energy Plan would only be advanced if the resulting portfolio of resources reduces, or at least does not increase, the cost of energy to Xcel Energy’s Colorado customers.

The new generation projects will be identified and selected through a soon-to-be initiated competitive acquisition process, targeting a mix of utility and independent power producer (IPP) owned facilities, with Xcel Energy having a targeted investment of 50%nt of the renewable generation, and 75% of the natural gas-fired, storage, or renewable with storage generation resources in the portfolio. Portfolio estimates are up to 1,000 MW of wind, up to 700 megawatts of solar and up to 700 MW of natural gas.

Mr David Eves, President, Xcel Energy Colorado said that “We have a responsibility to meet our customers’ energy needs. Our customers expect us to provide low-cost power and increase the use of cleaner energy. As the state’s largest utility, it is important to us that we also support rural areas in Colorado, and this proposal’s investment will accomplish this goal. The proposal could increase renewable energy to 55% by 2026, save customers money, and dramatically reduce carbon and other emissions.”

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Posted By : Rabi Wangkhem on Mon, 19 Mar 2018
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