NEI report examines economic impact of Xcel Energy’s Minnesota nuclear fleet

A new economic analysis from the Nuclear Energy Institute (NEI) reports that Xcel Energy’s Minnesota nuclear power plants create $1 billion in economic benefits for the state’s economy.

The report, The Impact of Xcel Energy’s Nuclear Fleet on the Minnesota Economy, also found that the
fleet directly employs 1,700 workers, indirectly supports 6,100 jobs and generates $33 million in state and local taxes. The company’s two nuclear plants produce enough electricity for the entire Minneapolis-
St. Paul metro area, the study found.

“The study confirms that Xcel’s nuclear facilities are critical parts of Minnesota’s energy infrastructure and bastions of the state’s economic well-being,” John Kotek, NEI vice president of policy development and public affairs, said. “In addition, Xcel Energy and its employees contribute to local communities in other ways, such as hiring veterans, charitable contributions and environmental stewardship programs.”

The two nuclear plants produce approximately 21 percent of Minnesota’s electricity and 54 percent of the state’s emission-free power. The study estimates that the plants prevent 12 million tons of carbon emission per year, equivalent approximately to the emissions of an additional 2.6 million cars. The facilities generated approximately 13 billion kilowatt-hours of emission-free electricity in 2015.

“This study demonstrates the vital role that Xcel Energy’s nuclear facilities play in supporting Minnesota’s economy by generating massive amounts of carbon-free, reliable electricity for our customers,” Tim O’Connor, senior vice president and chief nuclear officer at Xcel Energy, said. “Our mission is to keep supporting the region’s economic vitality for many years to come.”