NEWS RELEASE
XCEL ENERGY
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DENVER – Colorado today proposed its Clean Energy Plan – a plan to deliver customers an estimated 85% reduction in carbon dioxide emissions from 2005 levels by 2030.
The nation-leading plan, if approved, exceeds carbon reductions required by Colorado law and would provide customers with electricity from approximately 80% renewable sources while maintaining affordable and reliable service.
Today’s submission to the Colorado Public Utilities Commission begins the process to review the plan with state regulators and reveals additional details regarding the Company’s clean energy strategy announced last month.
“It’s exciting to present this landmark plan that will take the next step in the energy transition, provide the State of Colorado with a significant reduction, and transition our workforce and host communities on an appropriate timetable,” said Alice Jackson, president of Xcel Energy—Colorado. “This plan details the work needed through the decade to deliver clean, reliable and affordable energy to our Colorado customers and communities and we look forward to working with them to achieve our 2030 collective goals.”
The Clean Energy Plan is the largest, most aggressive, and most-climate driven proposal brought forward in our Company’s history. Details of the plan include the following resource additions between 2021 and 2030 adding approximately:
- 2,300 MW of wind
- 1,600 MW of large scale solar
- 400 MW of battery storage
- 1,300 MW of dispatchable resources, or those that are available 24/7
- 1,200 MW of distributed solar resources
The plan also includes a significant near-term reduction in coal plant operations by 2030, and fully retires all coal on our Colorado system by 2040. As previously announced:
- Pawnee Generating Station conversion from coal to natural gas generation by 2028
- Comanche Generating Station Unit 3 reduced operations by 67% between 2030 and 2040 and retires in 2040
- Craig Station Unit 2 retirement by 2028
- Hayden Station retirement by 2028
Xcel Energy is committed to working with its communities, employees and union leaders to manage the transition and no layoffs are anticipated in the proposed plan.
The Clean Energy Plan also contemplates construction of approximately 560 miles of 345kV transmission in the eastern plains, connecting the abundant renewable resource areas of the state with the load centers in the Denver metroplex, Pueblo, Colorado Springs, Boulder and Fort Collins/Greeley areas.
In 2018, Xcel Energy became the first utility in the nation to announce a vision to provide customers with 100% carbon-free electricity by 2050.
This plan continues not only the company’s vision to lead the clean energy transition, but also presents a balanced, diversified portfolio of energy sources to maintain reliability and affordability while supporting communities as we work together to meet Colorado’s carbon-reduction goals and evolving energy needs.
The plan requires the approval of the Colorado Public Utilities Commission.
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