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2016-01-25 00:00:00.0

New energy plan leverages technology; offers Xcel Energy customers more options in Colorado

DENVER – Xcel Energy is moving Colorado forward as a leader in energy innovation and economic development with the comprehensive “Our Energy Future” plan, announced today.

“Our Energy Future” plan, announced today.

The proposal, the first of its kind in Colorado, ties together a number of key innovative technology, economic development and customer initiatives in 2016. Ultimately, Xcel Energy seeks to give its customers more control over their energy use, prepare for the future energy demands of the state, and keep rates competitive.

“Our customers have asked for more choices, and we’re delivering just that. Our Energy Future paves the way for an interactive, intelligent and efficient grid that will be even more reliable than today, and better prepared to meet the needs of future generations,” said David Eves, president of Public Service Co. of Colorado, an Xcel Energy company.

The key components of the plan include:

  • Two Innovative Clean Technology (ICT) pilot programs in partnership with leading companies, such as Panasonic, to address electric battery efficiency and reliability. In the future, customers may use a home battery to store energy for when they need it most;
  • Alignment of the company’s pricing in a more fair and equitable manner for Colorado customers, through the Phase II electric rate case filed with the Colorado Public Utilities Commission (CPUC);
  • The introduction of Solar*Connect, a new solar choice program. Solar* Connect is a new, cost-based program that will offer customers a choice to sign up for 100 percent solar power, and add an incremental 50 megawatt solar farm to the company’s existing 170 megawatts of solar generation;
  • Taking further advantage of historically low natural gas prices by locking in current costs to provide long-term predictable rates for our customers, through the Gas Reserves Filing to be submitted this week;
  • Investigating up to 1,000 megawatts of additional renewable resources to be presented later this year for consideration by the CPUC; and
  • Continuing the company’s highly successful efforts to meet Colorado’s Renewable Energy Standard (RES) through the 2017 Renewable Energy Standard Compliance Plan to be filed in late February.

Closely associated with all of the initiatives will be Xcel Energy’s efforts to meet the requirements of the federal Clean Power Plan, which is being developed by key players in Colorado’s utility, governmental and environmental communities.
Finally, the company will present an intelligent grid proposal later this year focusing on interactive meter technology that will improve customer choice and control of their energy use.

“We’re investing in a comprehensive plan now so that we’re prepared for the changing energy landscape of the future. We want to do what we can to ensure that prices remain competitive and that the state remains attractive for economic development, and we want to do so in concert with our customers, regulators, elected officials and others with strong interest in the energy industry,” Eves said.

Xcel Energy (NYSE: XEL) is a major U.S. electricity and natural gas company with regulated operations in eight Western and Midwestern states. Xcel Energy provides a comprehensive portfolio of energy-related products and services to 3.5 million electricity customers and 1.9 million natural gas customers through its regulated operating companies. Company headquarters are located in Minneapolis. More information is available at www.xcelenergy.com.

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This news release includes forward-looking statements including, among other things, statements by Xcel Energy concerning its plans for future investments and resources, future regulatory filings and impact on customers. Such statements speak only as of the date they are made and are subject to risks and uncertainties that could cause Xcel Energy's actual results to differ materially. Factors that could cause actual results to differ materially include, but are not limited to, those risk factors listed in our most recent 10-K report for the fiscal year ended Dec. 31, 2014, including Item 1A - Risk Factors and Exhibit 99.01, as they may be updated in our subsequent 10-Q and 8-K reports. Xcel Energy expressly disclaims any obligation to update any forward-looking information.

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