Minnesota PUC approves Xcel Energy’s 15-year Integrated Resource Plan
The Minnesota Public Utilities Commission approved Xcel Energy’s Integrated Resource Plan (IRP), which guides its investments between 2020-2034.
In summary, Xcel’s approved plan strives to keep costs low for residential customers and businesses, reduce carbon emissions, and support both workers and the communities the company serves.
“As the Commission considered this IRP, the cost to Minnesota’s families was at the forefront of our minds. The plan we approved today goes to great lengths to minimize cost increases to consumers while continuing to ensure safe, reliable, and affordable service,” Commission Chair Katie Sieben said. “Requiring Xcel to retire uneconomic coal plants and replace them with low-cost renewable resources will help ensure a brighter future for all Minnesotans. I appreciate the input we heard from across the state to help us reach a plan that we are proud of.”
Specifically, the IRP included a provision for Xcel to acquire or build up to 4,650 megawatts (MW) of renewable resources – including solar, wind, and storage — by 2032. This initiative will help lower carbon emissions by 86 percent, relative to 2005 levels. Further, by 2032, 81 percent of Xcel’s electricity will be generated from carbon-free resources.
In addition, the approved plan requires Xcel to develop remediation plans with host communities that will experience plant closures. It also calls Xcel to work with state agencies and labor organizations to develop plans to support affected workers.
“Helping Minnesota workers and communities who will be affected by future plant closures was a priority for this Commission, this is why we added provisions requiring Xcel to develop plans to support host communities and workers as they move into the next phases of their lives and careers,” Commission Vice Chair Joseph Sullivan said. “I also want to thank members of the public and community leaders for participating in this lengthy process, your participation helped create a better outcome today.”
