Date: June 6, 2018

Contact: Jace Woodrum, 720-412-3772

Xcel Energy, the largest electricity provider in Colorado, today took the next step in its “Colorado Energy Plan,” which provides a roadmap for how Colorado can move toward a clean energy future. The new details show that bids from renewable energy developers were the lowest ever seen in the U.S. to date, meaning that Xcel customers will benefit from lower costs while Coloradans will enjoy cleaner air.  

“The fact of the matter is this: renewable energy like wind and solar will save ratepayers money while cleaning up carbon pollution,” said Maria Handley, acting executive director at Conservation Colorado. “Nearly ten thousand Coloradans showed their continued and resounding support for clean energy by speaking out for this plan, and the economics prove that it’s time for our transition away from coal. We’re thrilled to live in a state that continues to be a leader in the nation when it comes to the environment and clean energy, and we encourage our Public Utilities Commissioners to approve the Colorado Energy Plan.”  

The “120-day report,” filed with the Public Utilities Commission, contains details on the mix of energy sources Xcel hopes to use under its Electric Resource Plan. Not only does the plan include more than 1,800 megawatts of new wind and solar, but it would also double the amount of battery storage in the U.S., making our grid more resilient by storing renewable energy for later use. Prices for solar and wind paired with energy storage were priced lower than existing coal-generated power in Colorado, confirming that clean energy will actually save customers an estimated $213 million.

Xcel’s plan seeks to close two coal plants in Pueblo and replace them with three solar projects and two battery storage projects in the county. Taking these coal plants offline will reduce Xcel’s carbon emissions by approximately 4.5 million tons each year—a reduction of 59 percent from 2005 levels.

This latest report comes after months of public input, during which a record 9,428 people submitted comments to the Public Utilities Commission and dozens more packed their hearings in Denver and Pueblo. The overwhelming majority of this public input was in favor of a clean energy mix for Coloradans.