Xcel Energy is strengthening its energy grid with new electric generation and infrastructure to adapt to a rapidly evolving energy landscape, the company has announced in its 21st annual Sustainability Report.
Xcel Energy’s investments in a diverse and increasingly carbon-free energy portfolio aim to deliver reliable, low-cost energy service for all its customers during a time of significant growth in demand from data centers, vehicle charging, electrified home heating, natural gas development and other areas of the economy that spur growth. As it grows the capacity and resilience of the grid, the company has reduced carbon emissions from the electricity it provides to customers 58 percent from 2005 levels.
“For more than 150 years, Xcel Energy has energized communities and built brighter futures,” according to Bob Frenzel, Chairman, President and Chief Executive Officer of Xcel Energy. “Today, the increasing trend toward electrification is reshaping how we live, work and power our world. We are meeting this moment through advanced technology, disciplined investment and a steadfast commitment to reliability, affordability and sustainability.”
Xcel Energy’s carbon reduction progress comes as it navigates higher resource costs, supply chain constraints and a dynamic public policy environment, while keeping affordability for customers at the forefront. Since 2007, it has retired or converted 27 coal units without layoffs — and, consistent with state‑approved plans, is working to retire or convert its remaining units by the end of 2030. Electrification of a portion of the company’s fleet vehicles has prevented 700 metric tons of carbon emissions.
In addition, the company has reduced its water use related to the electricity it provides by 35 percent since 2005. Meanwhile, Xcel Energy outperforms the industry reliability standard, restoring 89 percent of affected customers’ power within 24 hours during active storm days, and has an overall electric service reliability of 99.98 percent.
