Xcel Energy accelerates coal exit by a decade (US)

US power utility Xcel Energy has decided to accelerate its plans to stop coal-fired power generation and to shut its remaining two coal-fired power plants in Minnesota (United States) a decade earlier than scheduled, i.e. by 2030 instead of 2040. The 598 MW Allen S. King coal-fired power plant would be closed in 2028, followed by the Sherco-3 coal-fired power plant in 2030. Xcel Energy will seek to extend the operational lifetime of its Monticello nuclear power plant until at least 2040.

The group will submit its Upper Midwest Energy Plan for approval to the Minnesota Public Utilities Commission in July 2019. If approved, the plan would lead to a reduction in carbon emissions by 80% by 2030 and by 100% by 2050, compared with 2005 levels. Xcel Energy plans to add 1,850 MW of wind capacity by 2022 and more than 3,000 MW of solar capacity by 2030.

The company is present in eight US states and supplies electricity to approximately 3.6 million customers. The company also operates two nuclear plants in Minnesota, i.e. Monticello (647 MWe net) and Prairie Island (1,041 MWe net), which together account for 13% of its total power generation. Monticello's current operating license runs until 2030, while Prairie Island's two reactors are licensed to operate until 2033 and 2034. Xcel Energy estimates that operating its nuclear plants for the remainder of their licenses beyond that date would be a key element in meeting its 2030 objective.