DENVER, Colorado (August 15, 2016) – In what is the largest proposed agreement of its kind in Colorado history, involving a record number of intervenors and key energy issues, Xcel Energy and other parties today reached a global settlement agreement that will help set the course for the state’s energy future.
In filings today with the Colorado Public Utilities Commission (CPUC), Xcel Energy and 22 of 26 intervenors agreed, in total or in part, on a global settlement on three recent Xcel Energy filings, including the company’s Phase II Electric Rate Case, Solar*Connect, and the 2017 Renewable Energy Plan.
“The agreement will benefit Xcel Energy’s Colorado customers by allowing us to move forward with the ‘Our Energy Future’ initiative. It will allow us to meet our customers’ expectations by giving them more control over their energy choices. It will bring more renewable and carbon-free energy to Colorado through the use of new technologies, and it will be provide affordable and reliable energy to further power the state’s economy,” said Alice Jackson, regional vice president for rates and regulatory affairs, Xcel Energy – Colorado.
Jackson praised the effort of all parties on the settlement, noting that it represents one of the most comprehensive and complex agreements of its kind, with signatories representing all 1.4 million Xcel Energy customers in the state. The settlement will go before the CPUC for approval, and parties anticipate hearings on the settlement to take place in October, with a decision by the end of 2016.
Phase II Electric Rate Case
Xcel Energy had proposed improvements to its current electricity pricing to make customer’s bills more transparent and understandable. The company’s goal is to provide enough flexibility to allow customers more options for their energy needs while allowing them to take advantage of new and emerging technologies. As part of the settlement, Xcel Energy and parties agreed to begin a transition, and test out new rate designs for its residential customers.
Xcel Energy would be allowed to pursue its previously proposed “Solar*Connect” program, but under a new name, “Renewable*Connect.” Renewable*Connect calls for a new, 50-megawatt solar resource; it would initially be available to residential and small-commercial customers. Renewable*Connect provides another option to consumers looking to take advantage of future investments in renewable energy.
Renewable Energy Plan
Xcel Energy had initially proposed its 2017 Renewable Energy Plan to address acquisition of resources from 2017-2019, including rooftop solar and community solar gardens. It was designed to ensure continued exceedance of the minimum requirements of the Colorado Renewable Energy Standard in a cost-effective manner. Under terms of the settlement, Xcel Energy and parties agreed to:
As previously noted, Xcel Energy and intervenors took part in discussions over the past several months, which resulted in today’s global settlement announcement. Not all parties, however, debated all three issues. The following list notes the parties who joined all or portions of the settlement agreement:
About Xcel Energy Xcel Energy (NYSE: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.
|Xcel Energy||Energy Outreach Colorado||Colorado Energy|
|Mark Stutz||Skip Arnold||Heatheryn Higgins|
|Media Representative||Executive Director||PIO and Outreach Director|
|(303) 294-2300||(303) 226-5050||(303) 866-6585|
|Office Vote Solar||Office of Consumer Counsel|
|Jessica Scott||Rosalind Jackson||Rebecca Laurie|
|Regional Director, Interior||Director, External Relations||Public Information Officer of DORA|
|(303) 910-9720||(415) 817-5061||(303) 894-2338|
|Western Resource Advocates||City of Boulder|
|Erin Overturf||Gwen Farnsworth||Sarah Huntley|
|Senior Staff Attorney||Senior Energy Policy Advisor||Deputy Director of Communications|
|(303) 918-1053||(720) 763-3738||(303) 441-3155|
|Colorado Solar Energy Industries Association||Solar Energy Industries Association|
|John Bringenberg||Rebecca Cantwell||Alex Hobson|
|Board President||Executive Director||SEIA Senior Communications Manager|
|(720) 289-3289||(720) 209-6000||(202) 556-2886|
|Clean Energy Collective||GRID Alternatives Colorado|
|Tim Braun||Kristina Sickles|
|Media Representative||Development Director|
|(970) 618-0080||(303) 968.1330|
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