History of Xcel Energy in Timeline

Xcel Energy Inc. is a regulated electric utility and natural gas delivery company headquartered in Minneapolis, Minnesota. It serves over 3.7 million electric and 2.1 million natural gas customers across eight states through its four main operating subsidiaries: Northern States Power-Minnesota, Northern States Power-Wisconsin, Public Service Company of Colorado, and Southwestern Public Service Co. Xcel Energy focuses on providing energy solutions while navigating the regulatory landscape of the utility sector.

1904: SPS Origins

In 1904, Southwestern Public Service Co.'s (SPS) origins can be traced to when Maynard Gunsell received an electricity franchise for Roswell, New Mexico. He later sold the franchise to W.H. Gillenwater, who named his utility the Roswell Electric Light Co.

1909: Washington County Light & Power Co. Organized

In 1909, the Northern States Power Company's timeline begins with the organization of the Washington County Light & Power Co.

1910: Consumers Power Co. Renaming

In 1910, H. M. Byllesby renamed the Washington County Light & Power Co. to the Consumers Power Co.

1916: Northern States Power Co. Renaming

In 1916, the Consumers Power Co. was renamed to the Northern States Power Co.

1923: Public Service Company of Colorado Formed

In 1923, the Public Service Company of Colorado (PSCo) was formed to provide an electric generating station for the Denver area.

1924: PSCo Acquires Electric Companies

By 1924, the Public Service Company of Colorado (PSCo) had acquired most of the electric companies in northern and central Colorado.

November 1943: PSCo Becomes Autonomous

In November 1943, Public Service Company of Colorado (PSCo) became an independent autonomous operation.

1973: Prairie Island Nuclear Power Plant Operation

Since 1973, the parent company to Xcel Energy, and later Xcel Energy itself have operated the Prairie Island Nuclear Power Plant.

1991: Cap on Nuclear Waste Storage

In 1991, the Minnesota Public Utilities Commission capped the storage of nuclear waste on Prairie Island to 17 casks. The legislature has since permitted this number to increase.

1994: Efforts to Remove Nuclear Waste

Since 1994, Environmentalists and members of the Prairie Island Indian Community have been working to have the nuclear waste transported away from their reservation.

1995: Merger to form New Century Energies (NCE)

In 1995, Public Service Company of Colorado (PSCo) merged with SPS to form New Century Energies (NCE).

1997: Primergy Merger Fails

In 1997, the planned merger between Northern States Power and Wisconsin Energy Corporation to form Primergy fell through due to delays in obtaining necessary approvals.

1998: Windsource Program Launch

Since 1998, Xcel Energy's Windsource program has allowed customers to designate that part or all of their electricity comes from a renewable energy source.

August 1, 2002: Xcel Energy Sued for "Round-Trip" Energy Trades

On August 1, 2002, Xcel Energy Inc. was sued for engaging in "round-trip" energy trades and lacking internal controls, resulting in an $80,000,000 settlement.

2005: Xcel Sells Cheyenne Light, Fuel and Power

In 2005, Xcel Energy sold Cheyenne Light, Fuel and Power to Black Hills Corporation.

October 2, 2007: Cabin Creek Fire

The Cabin Creek Fire occurred on October 2, 2007, at Xcel Energy's Hydropower Generation plant in Georgetown, Colorado.

2007: Biomass Facility On Line

In 2007, a third facility in western Minnesota, began generating power using turkey litter.

June 1, 2011: Federal Prosecutors Open Charges Against Xcel Energy

On June 1, 2011, Federal prosecutors opened their charges that Xcel Energy was criminally liable for the deaths of the five RPI workers.

October 2011: Xcel Energy Sets Wind Power Record

In October 2011, Xcel Energy set a world record for electricity from wind power, with an hourly penetration of 55.6% of production from wind.

December 19, 2011: RPI Coating Pleads Guilty

On December 19, 2011, RPI Coating plead guilty to workplace safety violations and paid $1.55 million in a cash settlement for the deaths of five workers and the injuries to three.

2011: Solar Panel Installation Incentives

At the end of 2011, more than 10,600 photovoltaic systems had been installed, with a capacity of about 121 megawatts (DC). In early 2011, Xcel Energy suspended and then restored the solar rebate program after reaching a settlement with representatives of solar power companies.

2011: Energy Efficiency Program Participation

In 2011, more than 2.3 million electric and 261,800 natural gas customers took part in Xcel Energy's energy efficiency programs for homes and businesses.

2015: Windsource Program Enrollment

In 2015, about 96,000 people were enrolled in Xcel Energy's Windsource program.

2016: AGIS Initiative Announced

In 2016, Xcel Energy announced the Advanced Grid Intelligence and Security (AGIS) initiative, a long-term effort related to power reliability, distributed generation, and information sharing with customers. This initiative included building an "intelligent grid" in Colorado.

2017: Xcel Energy Partners to Create Threat Information Sharing Community

In 2017, Xcel Energy partnered with the Financial Services Information Sharing and Analysis Center to create the Energy Analytic Security Exchange (EASE), a threat information sharing community for the energy sector.

December 2018: Xcel Energy Announces Carbon-Free Pledge

In December 2018, Xcel Energy announced its commitment to achieving an 80% carbon reduction by 2030 and a 100% reduction by 2050, making it the first major US utility to pledge to go carbon-free.

December 2018: Xcel Energy Announces 100 Percent Clean, Carbon-Free Electricity Goal

In December 2018, Xcel Energy announced its commitment to delivering 100 percent clean, carbon-free electricity by 2050, with an 80 percent carbon reduction by 2035 compared to 2005 levels, making Xcel the first major US utility to set such a goal.

2018: Xcel Energy Awarded "Utility of the Year"

In 2018, Utility Dive magazine awarded Xcel Energy its "Utility of the Year" award for its plans to add 12 wind farms, its project with Google to personalize energy management, and its plan to retire 50 percent of its coal-powered capacity by 2026.

May 20, 2019: Xcel Energy Announces Coal Plant Closures and Increased Solar Production

On May 20, 2019, Xcel Energy announced its intent to close all of its remaining coal-fired plants in Minnesota by 2030 while compensating by increasing solar production capacity by 1,400%.

December 30, 2021: Marshall Fire

The Marshall Fire started on December 30, 2021, in Boulder County, and spread across Superior and Louisville counties in Colorado. The official investigation blamed the fire on a loose wire owned by Xcel and a week-old fire started by members of the Twelve Tribes that was smoldering.

November 21, 2022: Radioactive Water Leak at Monticello Plant

On November 21, 2022, a significant unplanned release of radioactive water occurred at Xcel Energy's Monticello nuclear power plant.

2022: Colorado Power Pathway Approved

In 2022, the Colorado Power Pathway, was approved. This gave Xcel $1.7 billion to expand transmission infrastructure in eastern Colorado.

2022: Transmission System Updates Proposed

Xcel Energy has proposed significant plans for updating its transmission system with a budget of $7.4 billion from 2022-2027.

March 16, 2023: Radioactive Water Release Announced

On March 16, 2023, Xcel Energy announced that a significant unplanned release of radioactive water from its Monticello nuclear power plant took place on November 21, 2022, which was reported only to state and federal authorities but was concealed from the public until then.

2023: Transmission Line Costs

The Federal Energy Information Administration stated in 2023 that transmission lines typically cost $1.17 million to $8.62 million per mile.

February 26, 2024: Smokehouse Creek Fire

Following the Smokehouse Creek Fire in the Texas Panhandle, which began on February 26, 2024, Xcel Energy acknowledged that its facilities played a role in the ignition of the fire. An investigation by the Texas A&M Forest Service found that power lines ignited the fire.

2026: Plan to Retire Coal-Powered Capacity

Xcel Energy plans to retire 50 percent of its coal-powered capacity by 2026, replacing it with a combination of renewable energy, efficiency, and natural gas.

2027: Project Completion Timeline

Current timelines have most of the Colorado Power Pathway project being completed by 2027.

2027: Transmission System Updates Proposed

Xcel Energy has proposed significant plans for updating its transmission system with a budget of $7.4 billion from 2022-2027.

2030: Intent to Close Remaining Coal Plants

Xcel Energy intends to close all of its remaining coal-fired plants in Minnesota by 2030 while compensating by increasing solar production capacity by 1,400%.