History of Xcel Energy in Timeline
Xcel Energy Inc. is a regulated electric utility and natural gas delivery company headquartered in Minneapolis, Minnesota. The company serves over 3.7 million electric customers and 2.1 million natural gas customers across portions of eight states through its four operating subsidiaries: Northern States Power-Minnesota, Northern States Power-Wisconsin, Public Service Company of Colorado, and Southwestern Public Service Co.
1904: Southwestern Public Service (SPS) origins traced to Roswell, New Mexico
In 1904, Maynard Gunsell received an electricity franchise for the city of Roswell, New Mexico, and its 2,000 residents, marking the origins of Southwestern Public Service (SPS).
1909: Organization of Washington County Light & Power Co.
In 1909, the Washington County Light & Power Co. was organized, marking the beginning of Northern States Power Company's timeline.
1910: Consumers Power Co. Renaming
In 1910, H. M. Byllesby renamed the Washington County Light & Power Co. to Consumers Power Co.
1916: Name change to Northern States Power Co.
In 1916, Consumers Power Co. was renamed Northern States Power Co.
1923: Formation of Public Service Company of Colorado (PSCo)
In 1923, Public Service Company of Colorado (PSCo) was formed to provide an electric generating station for the Denver area.
1924: PSCo acquires most electric companies in northern and central Colorado
By 1924, Public Service Company of Colorado (PSCo) had acquired most of the electric companies in northern and central Colorado.
November 1943: PSCo becomes an independent autonomous operation
In November 1943, Public Service Company of Colorado (PSCo) became an independent autonomous operation.
1973: Prairie Island Nuclear Power Plant Operations Begin
Since 1973, the parent company to Xcel Energy, and later Xcel Energy itself have operated the Prairie Island Nuclear Power Plant.
1991: Minnesota Public Utilities Commission Capped Storage of Nuclear Waste
In 1991, the Minnesota Public Utilities Commission capped the storage of nuclear waste on the island to 17 casks, the legislature has since permitted this number to increase.
1994: Environmentalists work to have nuclear waste transported away from their reservation
Environmentalists and members of the Prairie Island Indian Community have been working since 1994 to have this nuclear waste transported away from their reservation due to the combined risk of the temporary design of the storage facility, unpredictable flooding and single evacuation road in the event nuclear waste is released from containment.
1995: Merger to form New Century Energies (NCE)
In 1995, Public Service Company of Colorado (PSCo) merged with Southwestern Public Service (SPS) to form New Century Energies (NCE).
1997: Primergy merger falls through
In 1997, the planned merger between Northern States Power and Wisconsin Energy Corporation to form Primergy fell through due to delays in gaining regulatory approvals.
1998: Xcel Energy introduces Windsource program
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 because of engaging in "round-trip" energy trades that provided no economic benefit for the company, and because the company lacked the necessary internal controls to adequately monitor the trading of its power. Xcel paid $80,000,000 in a settlement.
2005: Xcel sells Cheyenne Light, Fuel and Power
In 2005, Xcel Energy sold Cheyenne Light, Fuel and Power to Black Hills Corporation.
2007: Biomass facility begins power generation using turkey litter
In 2007, a third biomass facility in western Minnesota, began generating power using turkey litter.
June 1, 2011: Federal prosecutors charge Xcel Energy in Cabin Creek Fire
On June 1, 2011, Federal prosecutors opened their charges that Xcel Energy was criminally liable for the deaths of the five RPI workers in the Cabin Creek Fire.
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 to safety violations in Cabin Creek Fire
On December 19, 2011, RPI Coating plead guilty to workplace safety violations and paid $1.55 million in a cash settlement related to the Cabin Creek Fire.
2011: Xcel Energy offers incentives for solar panel installation, suspends and restores program
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 the solar rebate program before reaching a settlement a month later to restore the solar incentive program.
2011: Xcel Energy's energy efficiency programs participation in 2011
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 figures in 2015
In 2015, about 96,000 people were enrolled in Xcel Energy's Windsource program.
2016: Xcel Energy announces AGIS initiative
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, investing $500 million to build an "intelligent grid" in Colorado.
2017: Xcel Energy partners to create Energy Analytic Security Exchange (EASE)
In 2017, Xcel Energy partnered with the Financial Services Information Sharing and Analysis Center to create a new "threat information sharing community" called the Energy Analytic Security Exchange (EASE) to share cyber and physical security intelligence with the energy sector.
December 2018: Xcel Energy announces 100% 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 (from 2005 levels). This commitment made Xcel Energy the first major US utility to set such a goal.
December 2018: Xcel Energy pledges to go carbon-free
In December 2018, Xcel Energy announced that it would target an 80% carbon reduction by 2030, and a 100% reduction by 2050.
2018: Utility Dive awards Xcel Energy "Utility of the Year"
In 2018, Utility Dive magazine awarded Xcel Energy its "Utility of the Year" award due to its plans to add 12 wind farms, its collaboration with Google to personalize energy management, and its plans to retire 50 percent of its coal-powered capacity by 2026.
May 20, 2019: Xcel Energy announces coal plant closures and solar production increase
On May 20, 2019, Xcel Energy announced its intention to close all of its remaining coal-fired plants in Minnesota by 2030, while compensating by increasing solar production capacity by 1,400%.
November 21, 2022: Radioactive water leak occurred at Monticello nuclear power plant
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 March 16, 2023.
2022: Regulators approved the Colorado Power Pathway in 2022
In 2022, regulators approved the Colorado Power Pathway, giving Xcel $1.7 billion to expand transmission infrastructure in eastern Colorado.
2022: Xcel plans significant transmission system updates with a budget of $7.4 billion from 2022-2027
Xcel has proposed significant plans for updating its transmission system with a budget of $7.4 billion from 2022-2027.
March 16, 2023: Xcel Energy announces radioactive water leak at Monticello plant
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, but was concealed from the public until that announcement.
2023: EIA reports transmission line costs in 2023
In 2023, the Federal Energy Information Administration stated that transmission lines typically cost $1.17 million to $8.62 million per mile.
2026: Plan to retire 50 percent of coal-powered capacity by 2026
Utility Dive magazine awarded Xcel Energy its "Utility of the Year" award due to its plan to retire 50 percent of its coal-powered capacity by 2026 (and replacing it with a combination of renewable energy, efficiency, and natural gas).
2027: Most of the Colorado Power Pathway project expected to be completed by 2027
Current timelines have most of the Colorado Power Pathway project being completed by 2027.
2027: Xcel plans significant transmission system updates with a budget of $7.4 billion from 2022-2027
Xcel has proposed significant plans for updating its transmission system with a budget of $7.4 billion from 2022-2027.
2030: Xcel Energy announces coal plant closures in Minnesota
On May 20, 2019, Xcel Energy announced its intention to close all of its remaining coal-fired plants in Minnesota by 2030, while compensating by increasing solar production capacity by 1,400%.
2040: Xcel Energy plans to continue operating Monticello nuclear plant until at least 2040
On May 20, 2019, Xcel Energy declared its plans to continue operating its Monticello nuclear plant near Monticello, Minnesota, until at least 2040.
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