History of Xcel Energy in Timeline
Xcel Energy Inc. is a regulated electric utility and natural gas delivery company headquartered in Minneapolis, Minnesota. It provides services to over 3.7 million electric customers and 2.1 million natural gas customers across eight states. The company operates through four main subsidiaries: Northern States Power-Minnesota, Northern States Power-Wisconsin, Public Service Company of Colorado, and Southwestern Public Service Co.
1904: SPS Origins
In 1904, Southwestern Public Service Co. (SPS) traces its origins to the Pecos Valley in New Mexico when Maynard Gunsell received an electricity franchise for the city of Roswell, New Mexico.
1909: Organization of Washington County Light & Power Co.
In 1909, Northern States Power Company's timeline began 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 Consumers Power Co.
1916: Northern States Power Co. Renaming
In 1916, Consumers Power Co. was renamed the Northern States Power Co.
1923: Formation of PSCo
In 1923, Public Service Company of Colorado (PSCo) was formed to provide an electric generating station for the Denver area.
1924: PSCo Acquisition of Electric Companies
By 1924, 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: Operation of Prairie Island Nuclear Power Plant
Since 1973, the parent company to Xcel Energy, and later Xcel Energy itself have operated the Prairie Island Nuclear Power Plant.
1991: Nuclear Waste Storage Cap
In 1991, the Minnesota Public Utilities Commission capped the storage of nuclear waste on Prairie Island to 17 casks.
1994: Efforts to Remove Nuclear Waste
Since 1994, environmentalists and members of the Prairie Island Indian Community have been working to have nuclear waste transported away from their reservation.
1995: Merger to form New Century Energies
In 1995, Public Service Company of Colorado merged with SPS to form New Century Energies (NCE).
1997: Failed Primergy Merger
In 1997, the planned merger between Northern States Power and Wisconsin Energy Corporation to form Primergy fell through.
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: Lawsuit and Settlement
On August 1, 2002, Xcel Energy Inc. was sued because of engaging in "round-trip" energy trades and paid $80,000,000 in a settlement.
2005: Sale of Cheyenne Light, Fuel and Power
In 2005, Xcel sold Cheyenne Light, Fuel and Power to Black Hills Corporation.
2007: Biomass Facility
In 2007, a biomass facility was brought on line in western Minnesota, generating power using turkey litter.
June 1, 2011: Federal Charges
On June 1, 2011, Federal prosecutors opened their charges that Xcel Energy was criminally liable for the deaths of the five RPI workers. The jury found Xcel Energy not guilty.
October 2011: 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 Plea
On December 19, 2011, RPI Coating plead guilty to workplace safety violations and paid $1.55 million in a cash settlement.
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.
2011: Solar Rebate Program Suspension and Restoration
In early 2011, Xcel Energy suspended the solar rebate program before reaching a settlement a month later to restore the solar incentive program.
2015: Windsource Enrollment
In 2015, about 96,000 people were enrolled in Windsource.
2016: AGIS Initiative Announcement
In 2016, Xcel Energy announced the Advanced Grid Intelligence and Security (AGIS) initiative, for power reliability, distributed generation, and information sharing with customers.
2017: EASE Creation
In 2017, Xcel Energy partnered with the Financial Services Information Sharing and Analysis Center to create the Energy Analytic Security Exchange (EASE).
December 2018: Carbon-free electricity announcement
In December 2018, Xcel Energy announced its plan to deliver 100 percent clean, carbon-free electricity by 2050, with an 80 percent carbon reduction by 2035.
December 2018: Carbon-free Pledge
In December 2018, Xcel Energy pledged to go carbon-free, aiming for 80% carbon reduction by 2030, and 100% reduction by 2050.
2018: Utility of the Year
In 2018, Utility Dive awarded Xcel Energy its "Utility of the Year" award.
May 20, 2019: Coal Plant Closures Announced
On May 20, 2019, Xcel Energy announced its intent to close all of its remaining coal-fired plants in Minnesota by 2030.
November 21, 2022: Radioactive Water Release
On November 21, 2022, a significant unplanned release of radioactive water from Xcel Energy's Monticello nuclear power plant took place, which was reported only to state and federal authorities but was concealed from the public until then.
2022: Transmission System Updates
In 2022, Xcel has proposed significant plans for updating its transmission system with a budget of $7.4 billion from 2022-2027.
2022: Colorado Power Pathway Approval
In 2022, the Colorado Power Pathway, was approved by regulators, giving Xcel $1.7 billion to expand transmission infrastructure in eastern Colorado.
March 16, 2023: Announcement of Radioactive Water Release
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.
2023: Transmission Line Costs
In 2023, the Federal Energy Information Administration stated that transmission lines typically cost $1.17 million to $8.62 million per mile.
2026: Coal-powered Capacity Retirement
By 2026, Xcel Energy planned to retire 50 percent of its coal-powered capacity.
2027: Colorado Power Pathway Completion
Current timelines have most of the Colorado Power Pathway project being completed by 2027.
2027: Transmission System Updates
In 2022, Xcel has proposed significant plans for updating its transmission system with a budget of $7.4 billion from 2022-2027.
2030: Coal Plant Closures Announced
On May 20, 2019, Xcel Energy announced its intent to close all of its remaining coal-fired plants in Minnesota by 2030.
2040: Plans to Operate Monticello Plant
On May 20, 2019, Xcel Energy declared its plans to continue operating its Monticello nuclear plant near Monticello, Minnesota until at least 2040.
