Contact: Xcel Energy Media Relations
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Upper Midwest plan will reduce carbon emissions in region more than 85% by 2030 and expand renewable energy
Minneapolis– (Feb. 9, 2022) — Xcel Energy, a national leader in the clean energy transition, yesterday received approval for its plan to reduce carbon emissions from electricity provided to its Upper Midwest customers by more than 85% by 2030. The Minnesota Public Utilities Commission’s approval of the Upper Midwest Energy Plan follows several years of work with stakeholders to meet the goals of reducing carbon
emissions while ensuring reliability and affordability for customers. Xcel Energy’s Upper Midwest system serves customers in Minnesota, North Dakota, South Dakota, Wisconsin and Michigan.
“This decision means more than 80% 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, chairman, president and CEO, Xcel Energy. “As a
longtime national leader in wind energy, we look forward to expanding our renewable energy resources and what we can accomplish on our way to achieving 100% carbon-free electricity by 2050.”
“Today’s outcome is good for our customers, our communities and the environment,” said Chris Clark, president, Xcel Energy- Minnesota, North Dakota and South Dakota. “Retiring coal, increasing wind and solar and continuing the strong carbon-free contributions of our
Monticello nuclear plant is key to maintaining affordable and reliable energy for customers.”
In addition to reducing carbon emissions more than 85% by 2030, compared to 2005 levels, the approved plan means more than 80% of customers’ electricity will be carbon free by the end of the decade, with more than half coming from wind and solar. The elements of this plan all work together to achieve these aggressive clean energy
targets while protecting reliability and affordability for customers. Key elements of the plan include:
Retiring all our Upper Midwest coal plants by 2030.
Dramatically increasing wind and solar energy, building 2,150 MW of new wind and 2,500 MW of new solar by 2032. The plan also includes an additional approximately 1,100 MW of renewables beyond 2032.
Ensuring reliable, affordable energy by extending the generation of carbon-free nuclear energy at our Monticello plant an additional 10 years to 2040.
Building on our successful energy efficiency programs to help customers save energy and money and working with customers on new demand response options to manage our energy load.
New transmission infrastructure would connect more clean energy to the grid, re-using important grid connections near our coal plants as they close and helping ensure reliable service for customers. The approval allows us to move forward with this project, with additional filings and approvals needed as it progresses.
Some elements of the approved plan will require further PUC approvals in the coming months and years. As the company transitions away from coal, it will also work with stakeholders to seek approval for additional “always available” power sources later this decade, to help back up wind and solar and maintain grid stability and reliability.
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About Xcel Energy
Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at
competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.
