Sustainability report shows Xcel Energy cut carbon emissions 54 percent between 2005 and 2023

Published on June 18, 2024 by Chris Galford

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In the years since becoming the first U.S. energy provider to set carbon emissions reduction goals, a new sustainability report from Xcel Energy touted its success in reducing carbon emissions from its electricity by 54 percent.

That figure was based on 2005 levels. As of 2023, carbon-free energy accounted for 50 percent of the company’s 2023 energy mix – higher than the national average of 41 percent. Xcel also reportedly used the time to cut air emissions of SO2 from power plants by 83 percent and NO2 by 85 percent. This keeps it inching forward toward its own 2018 created goals: 100 percent carbon-free electricity by 2050 while reducing carbon emissions by 80 percent as of 2030.

“Xcel Energy remains at the forefront of the clean energy transition,” Bob Frenzel, chairman, president and CEO of Xcel Energy, said. “Our progress in this historic transition thus far is a testament to the hard work and commitment of our employees to innovate and deliver on strategies and approaches that drive clean energy solutions and reliably serve millions with affordable energy.”

Cleaner energy has also been paired with greater reliability and lower bills. According to Xcel, it now outperforms the industry reliability standard, being capable of restoring power to 98 percent of its customers within the 24 hours following major storm events. In turn, its electric customers face rates approximately 28 percent below the national average, based on data from the U.S. Energy Information Administration (EIA).

Further, the company helped more than 188,000 customers connect to assistance programs last year, netting those customers $187 million in help with their energy bills.