Xcel Energy to Close Minn. Coal Plants Decade Ahead of Schedule
21 May 2019 - 3:39AM
Dow Jones News
By Colin Kellaher
Xcel Energy Inc. (XEL) said Monday it plans to retire its two
remaining coal plants in the Upper Midwest a decade earlier than
scheduled as it transitions to the use of renewable energy.
The Minneapolis energy company said it will submit a plan to the
Minnesota Public Utilities Commission that includes closing the two
coal plants in the state by 2030, expanding its use of wind and
solar power, and continuing the use of its nuclear power plant in
Monticello until at least 2040.
Xcel said more than 50% of its customers' energy in the Upper
Midwest region would be from renewables by 2030 under the plan,
which calls for the completion of a wind expansion that will add
1,850 megawatts, the addition of more than 3,000 megawatts of new
universal solar, and the closure of its Sherco 3 and Allen S. King
coal plants.
The company said it will file the plan with Minnesota regulators
on July 1, adding that it would lead to a more-than-80% reduction
in carbon emissions in the region by 2030, compared with 2005.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 20, 2019 13:24 ET (17:24 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Xcel Energy (NASDAQ:XEL)
Historical Stock Chart
From Apr 2024 to May 2024
Xcel Energy (NASDAQ:XEL)
Historical Stock Chart
From May 2023 to May 2024