Xcel Energy Inc., headquartered in Minneapolis, Minnesota, is a regulated utility provider in the United States. The company distributes electricity to over 3.7 million customers and natural gas to 2.1 million customers across eight states. Its operations are divided into four subsidiaries: Northern States Power-Minnesota, Northern States Power-Wisconsin, Public Service Company of Colorado, and Southwestern Public Service Co.
1904: Origins of Southwestern Public Service (SPS)
The history of Xcel Energy can be traced back to 1904 in Roswell, New Mexico. Maynard Gunsell secured an electricity franchise for the city and established the Roswell Electric Light Co., marking the beginning of what would eventually become Southwestern Public Service (SPS), a key predecessor to Xcel Energy.
1909: Founding of Washington County Light & Power Co.
Northern States Power Company's (NSP) journey began in 1909 with the creation of the Washington County Light & Power Co. This marked a significant step in the development of NSP, which would later become a crucial part of Xcel Energy.
1910: H.M. Byllesby Renames to Consumers Power Co.
In 1910, H.M. Byllesby, while developing his utility holding company, renamed the Washington County Light & Power Co. to Consumers Power Co. This change reflected a broader vision for the company's future.
1916: Consumers Power Co. Becomes Northern States Power Co.
The year 1916 witnessed the transformation of Consumers Power Co. into Northern States Power Co. (NSP). This name change solidified the company's presence and signified its expanding influence in the region.
1923: Formation of Public Service Company of Colorado
In 1923, the Public Service Company of Colorado (PSCo) was established to meet the Denver area's growing need for electricity generation. This marked a significant development in Colorado's energy landscape.
1924: PSCo Acquires Majority of Electric Companies in Northern and Central Colorado
By 1924, PSCo had become a dominant force in Colorado's energy sector, acquiring the majority of electric companies across the northern and central parts of the state. This rapid expansion solidified their position as a major energy provider.
November 1943: PSCo Becomes Independent
In November 1943, PSCo transitioned into an independent and autonomous operation after being a subsidiary of Cities Service Company. This move provided them with greater control over their operations and strategic direction.
1973: Prairie Island Nuclear Power Plant Begins Operation
The parent company of Xcel Energy began operating the Prairie Island Nuclear Power Plant in 1973, marking the start of nuclear waste storage near the Prairie Island Indian Community.
1991: Nuclear Waste Storage Cap Set
In 1991, the Minnesota Public Utilities Commission established a limit of 17 casks for nuclear waste storage on Prairie Island.
1994: Efforts to Remove Nuclear Waste Begin
Environmentalists and members of the Prairie Island Indian Community initiated efforts in 1994 to have nuclear waste removed from their reservation due to safety concerns.
1995: PSCo and SPS Merge to Form New Century Energies
Responding to the ever-increasing energy demands, PSCo merged with Southwestern Public Service (SPS) in 1995, forming New Century Energies (NCE). This strategic merger created a larger entity capable of meeting the evolving energy needs of a wider customer base.
1997: NSP and New Century Energies Merge to Form Xcel Energy
In 1997, after a failed merger attempt with Wisconsin Energy Corporation, Northern States Power (NSP) joined forces with New Century Energies (NCE). This merger resulted in the birth of Xcel Energy, marking a pivotal moment in the company's history.
2005: Xcel Energy Divests Cheyenne Light, Fuel and Power
In 2005, Xcel Energy made the strategic decision to sell Cheyenne Light, Fuel and Power to Black Hills Corporation. This subsidiary, originally part of PSCo since the 1920s, had become an operating company of NCE after the merger with SPS.
2007: Xcel Energy Launches Turkey Litter-Fueled Power Facility
In 2007, Xcel Energy took a unique approach to biomass energy by bringing a new facility online in western Minnesota. This facility utilized turkey litter as fuel for power generation, showcasing the company's innovative approach to utilizing diverse renewable resources.
June 1, 2011: Federal Prosecutors Charge Xcel Energy
On June 1, 2011, Federal prosecutors filed charges against Xcel Energy, alleging criminal liability for the deaths of five RPI workers in the Cabin Creek Fire.
December 19, 2011: RPI Coating Pleads Guilty
RPI Coating pleaded guilty to workplace safety violations on December 19, 2011, and paid a $1.55 million settlement in connection with the Cabin Creek Fire.
December 2018: Xcel Energy Announces Carbon-Free Goal
In December 2018, Xcel Energy made a groundbreaking announcement, becoming the first major US utility to commit to achieving 100% carbon-free electricity. Their target was to achieve an 80% reduction in carbon emissions by 2035 (from 2005 levels) and reach complete carbon neutrality by 2050.
December 2018: Xcel Energy Pledges to Go Carbon-Free
In a move that solidified its commitment to sustainability, Xcel Energy became the first major US utility to pledge a complete transition to carbon-free energy in December 2018. Their ambitious plan aimed for an 80% reduction in carbon emissions by 2030 and complete carbon neutrality by 2050.
2018: Xcel Energy Named "Utility of the Year"
Xcel Energy received the prestigious "Utility of the Year" award from Utility Dive magazine in 2018. This recognition celebrated their commitment to renewable energy, including plans to add 12 new wind farms, their innovative partnership with Google on personalized energy management, and their ambition to retire 50% of their coal-powered capacity by 2026, replacing it with a balanced mix of renewable energy, enhanced efficiency measures, and natural gas.
May 20, 2019: Xcel Energy Announces Closure of Minnesota Coal Plants
On May 20, 2019, Xcel Energy made a significant announcement regarding their coal-fired plants in Minnesota. They declared their intention to shut down all remaining coal plants in the state by 2030, offsetting this closure by increasing their solar production capacity by an impressive 1,400%.
December 30, 2021: Marshall Fire
The Marshall Fire, the most destructive wildfire in Colorado history, started on December 30, 2021. The fire, which an investigation blamed on an Xcel Energy power line and a smoldering fire from the Twelve Tribes community, caused widespread devastation in Boulder County.
March 16, 2023: Xcel Energy Discloses Radioactive Water Leak
On March 16, 2023, Xcel Energy publicly revealed a previously undisclosed radioactive water leak that had occurred at their Monticello nuclear power plant on November 21, 2022. The leak, estimated at 400,000 gallons of tritium-contaminated water, was initially reported only to state and federal authorities but was not disclosed to the public until this date.