Xcel Energy Profile
By: SGN Staff
Operates in Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin
Headquarters: Minneapolis, MN
President, CEO, Chairman: Richard Kelly
Ownership: Publicly traded on the New York Stock Exchange (XEL).
2008 Operating Revenues: $11.2 billion
Â· 3.3 million electricity
Â· 1.8 million gas
Â· 190,414 distribution lines
Â· 34,886 miles of gas pipeline
New York Times:
Xcel to Disclose Global Warming Risks
Xcel Energy is a major U.S. electric and natural gas utility based in Minneapolis.
It operates in eight Western and Midwestern states and provides a portfolio of energy-related products and services to 3.3 million electric customers and 1.8 million natural gas customers through its regulated operating companies.
Its generating facilities include 16 coal plants, 28 natural gas plants, 2 nuclear plants, 26 hydro plants, 4 oil plants and three refuse derived plants which together have a capacity of 16,042 megawatts.
In a landmark agreement in August 2008, Xcel - one of America’s largest builders of coal-fired power plants - was forced to give investors detailed warnings about the risks that climate change poses to its business. Under the agreement, Xcel had to disclose the financial risks of lawsuits and of federal or state court decisions that would affect its business. However, Xcel’s decision to close two coal-fired plants in Colorado in favor or a solar plant and wind farm on the same site could put the company in good stead for stimulus money.
Xcel and its Smart Grid Consortium partnersâ€"which include among them Accenture, Current Group, Schweitzer Engineering Laboratories, OSIsoft, GridPoint, SmartSynch and Ventyxâ€"are building a "Smart Grid City” in Boulder, CO. The move has brought positive press for Xcel and a reputation as one of the country’s most forward-thinking utilities. However, critics point to the lack of a peer review process in the Boulder project and concern that Xcel may be installing proprietary technologies rather than depending on open standards.
Xcel is installing about 50,000 Landis+Gyr smart meters that provide Interval metering two-way communication between the customer and the utility, detailed usage history, and automated meter reading.
Xcel is active on the renewable energy front with initiatives in wind, solar, hydro and biomass power generation. Xcel claims to be the No. 1 wind provider in the nation and plans to deliver about 7,400 MW of wind energy by 2020. In 2007 Xcel almost doubled its ability to deliver wind power from Minnesota’s Buffalo Ridge from 425 MW to 825 MW. It expects to bring an additional 225 MW of solar power online by 2015.
Customers who want to reduce their carbon footprint can elect (for a premium) to have renewable energy used in their homes or businesses through Xcel’s Windsource program.
For vendors only ...
Xcel is moving in a lot of different directions at once, but its focus on renewable energy may make them amenable to discussions about opportunities to bridge the new technologies with older infrastructure.