Xcel Energy revises plan, talks ending coal use by 2030
In a major revamp of its plans, Xcel Energy proposed to up the timescale for coal retirement this week, allowing it to potentially cease the use of coal entirely by the end of 2030.
“As the first energy provider in the nation to set ambitious goals for addressing all the ways our customers use energy – electricity, heating, and transportation – we are always striving to provide our customers cleaner energy resources while saving them money,” Bob Frenzel, chairman, president and CEO of Xcel Energy, said. “Advancing the retirement of coal operations at Tolk Station demonstrates our commitment to our clean energy strategy while ensuring our customers and communities have reliable, affordable, and safe service.”
This acceleration would be helped by moving the retirement of the 1,067 MW Texas Tolk Generating Station forward by more than four years to 2028 and the retirement of the Colorado-based Comanche 3 coal unit in 2030. Accelerated retirements have also been reported in other states. While the timeframe for Tolk will ultimately depend on the approval of New Mexico and Texas regulators, even after the coal portion of the facility is closed, its installed synchronous condensers could continue to be used to aid the grid.
According to Xcel, the earlier retirement would help save its customers more than $70 million. Helping this are changes in federal laws, which the company concluded were making cleaner energy sources more cost-effective options.
In addition to its updated coal exit, Xcel has also maintained a push for 100 percent carbon-free electricity by 2050. Going by current milestones, the same year it ceases coal use, the company also intends to reduce its carbon emissions by 80 percent for electric customers across the eight states it services.
