Xcel Energy plan approved by regulators

Xcel Energy has announced approval by the Minnesota Public Utilities Commission for its plan to cut carbon emissions from electricity provided in the Upper Midwest by over 85 percent by 2030.

That includes customers in Wisconsin, Minnesota, North Dakota, South Dakota and Michigan.

The Minneapolis-based company’s Upper Midwest Energy Plan includes several elements: retiring all of its coal plants in the region by 2030; building new wind and solar energy infrastructure by 2032; extending operation of its Monticello nuclear energy facility; expanding customer energy efficiency programs; and developing new transmission lines.

“This decision means more than 80 percent of our customers’ electricity will be carbon free by the end of the decade and demonstrates the significant strides we’re making to deliver a clean energy future,” said Bob Frenzel, company chairman, president and CEO.

Xcel Energy has set a goal of reaching 100 percent carbon-free electricity by 2050.

Several of Wisconsin’s other major utilities have also set out goals for reducing carbon emissions over a similar timeline.

WEC Energy Group, the parent company of We Energies and Wisconsin Public Service, has a goal of reducing carbon emissions from electricity generation by 50 percent by 2025 and 80 percent by the end of 2030, compared to 2005 levels. And the company is planning to have a net-zero electric generation fleet by 2050.

Madison Gas & Electric has also set a goal of reaching net-zero carbon electricity by 2050.

Meanwhile, Alliant Energy aims to reach net-zero carbon dioxide emissions from electricity generation by 2050 and eliminate coal from its generation fleet by 2040.

See the release: https://www.wisbusiness.com/2022/xcel-energy-plan-approved-to-drive-nation-leading-carbon-reductions/