Xcel Energy wants to speed up coal retirement by 4 yrs
Wind turbines in Texas. Photo by: Xcel Energy (www.xcelenergy.com).
US utility Xcel Energy Inc (NASDAQ:XEL) announced on Monday it will propose to accelerate by more than four years the retirement of coal operations at the 1,067-MW Tolk Generating Station in Texas in order to fully quit the use of coal at company-operated sites by 2030.
The Minneapolis-based company, which aims to cut carbon emissions 80% by 2030 for electric customers and achieve carbon-free power by 2050, wants to retire the particular power plant in 2028 rather than in the 2032-2034 timeframe.
Xcel will make the proposal to regulators in New Mexico this month and to those in Texas in February 2023. It estimates that the sped-up retirement of the coal operations at the site will save customers in the two states over USD 70 million (EUR 70.6m).
Once this plan is concluded, the company will seek to add a diverse mix of replacement generation, including wind and solar, near Tolk, it said.