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Xcel Energy Unveils $2.5 Billion Plan for Renewable Energy Shift, Coal Plant Closures

Public Service Company of Colorado, a unit of Xcel Energy Inc., filed its Colorado Energy Plan, a blueprint for the utility to source over half of its electricity supply from renewables and cut carbon emissions by 60 percent by 2026. The plan, filed June 6 with the Colorado Public Utilities Commission, directs the company to add 1,100 megawatts of wind power, 700 megawatts of solar power, and 225 megawatts of energy storage paired with solar. It would close 660 megawatts of coal-fired generation at the Comanche power plant ahead of schedule and retain 380 megawatts of flexible gas-powered generation to ensure system reliability. The plan is projected to save customers about $215 million. The company proposes to own 27 percent of the renewable generation, down from the 50 percent it had initially sought. The company said it received an overwhelming 450 bids in response to its power supply solicitation last year including an unexpectedly high number of low-cost bids.

June 6, 2018
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