Xcel Energy: Announces long range plan to reduce carbon emissions

Contact: Minnesota Media Relations
612-215-5300

Minneapolis – Xcel Energy has received approval for
its long-range plan to power the Upper Midwest’s energy future by
transforming its energy fleet, delivering 60% carbon-free energy and
more than double its renewable energy portfolio. The Minnesota Public
Utilities Commission voted Thursday to support the company’s 2030
plan.

“This is a great decision for our customers and our states in the
Upper Midwest, including Wisconsin and Michigan. We can now move
forward with our plan to transform our energy fleet and lead the
industry in delivering cleaner energy at a cost effective price for
customers,” said Chris Clark, president, Xcel Energy-Minnesota. “This
outcome allows us to invest even more in wind, giving customers more
renewable energy options while continuing to ensure reliable service
and support for our communities by advancing the replacement energy
generation at our Sherburne County plant.”

Nation-leading wind energy expansion underway

Xcel Energy leads the nation as the number one utility wind energy
provider for more than decade, and as part of its Upper Midwest plan
proposed expanding wind energy by adding enough new wind farms to
power 750,000 homes. The announcement represents one of the largest
wind energy proposals in the nation, bringing up to 1,500 megawatts of
new wind power to Xcel Energy customers.

Industry-leading carbon reductions and reliable service

As part of Xcel Energy’s commitment to delivering a more sustainable
energy future, the company is moving away from coal to cleaner energy
sources by investing in wind, solar and natural gas in the Upper
Midwest. The MPUC’s decision allows the company to retire two coal
units at its Sherburne County Generating Plant and move forward the
planning to identify the energy resources needed to best meet
customers’ needs for power reliability.

“The decision gives a clear path as we advance our filing for a gas
combined cycle unit at the site, which we are confident is the best
resource for our customers and the reliability of our system,” said
Clark.

Xcel Energy’s plan approved yesterday is a path to 63 percent
carbon-free energy in the next 15 years, with more than one-third
generated from renewables. It also allows Minnesota and the
surrounding region to affordably meet state and national energy
standards, while creating new jobs and investments for the communities
Xcel Energy serves.