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 operating 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)

In 1904, the origins of Southwestern Public Service Co. (SPS) began when Maynard Gunsell secured an electricity franchise for Roswell, New Mexico. He later sold it to W.H. Gillenwater, who named his utility the Roswell Electric Light Co.

1909: Washington County Light & Power Co. Organized

In 1909, the Washington County Light & Power Co. was organized. This marked the beginning of what would eventually become Northern States Power Company.

1910: Consumers Power Co. Renamed

In 1910, H.M. Byllesby renamed the Washington County Light & Power Co. to Consumers Power Co. as he began building his utility holding company.

1916: Consumers Power Co. Renamed to Northern States Power Co.

In 1916, Consumers Power Co. was renamed to Northern States Power Co. This change occurred as the utility holding company continued to expand.

1923: Formation of Public Service Company of Colorado (PSCo)

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, 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, after originally being a subsidiary of Cities Service Company.

1973: Xcel Energy Operates Prairie Island Nuclear Power Plant

Since 1973, Xcel Energy, or its parent company, has operated the Prairie Island Nuclear Power Plant. Nuclear waste produced by the plant has been stored near the Prairie Island Indian Community.

1991: Minnesota Public Utilities Commission capped nuclear waste storage

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

1994: Efforts to relocate nuclear waste from Prairie Island

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

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 failed due to delays in obtaining approvals.

1998: Xcel Energy introduces Windsource program

Since 1998, Xcel Energy's Windsource program has allowed customers to opt for renewable energy sources for their electricity.

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

On August 1, 2002, Xcel Energy Inc. faced a lawsuit for engaging in "round-trip" energy trades without economic benefit, settling for $80,000,000.

2005: Xcel Sells Cheyenne Light, Fuel and Power

In 2005, Xcel Energy sold Cheyenne Light, Fuel and Power to Black Hills Corporation. Cheyenne Light, Fuel and Power had been a subsidiary of PSCo since the 1920s.

October 2, 2007: Cabin Creek Fire

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

2007: Biomass facility brought online in western Minnesota

In 2007, Xcel Energy brought a biomass facility on line in western Minnesota, which generates power using turkey litter.

June 1, 2011: Federal Prosecutors open charges against Xcel Energy

On June 1, 2011, Federal prosecutors opened charges that Xcel Energy was criminally liable for the deaths of the five RPI workers from the Cabin Creek Fire. The jury found Xcel Energy not guilty.

October 2011: Xcel Energy sets wind power record

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

December 19, 2011: RPI Coating pleads guilty to workplace safety violations

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

2011: Xcel Energy solar rebate program changes

In 2011, Xcel Energy suspended its solar rebate program, but later restored it after reaching a settlement with solar power companies. Over 10,600 photovoltaic systems had been installed by the end of the year.

2011: Customer participation in Xcel Energy's energy efficiency programs

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

2015: Windsource enrollment numbers

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

2016: Xcel Energy announces Advanced Grid Intelligence and Security (AGIS) initiative

In 2016, Xcel Energy announced the Advanced Grid Intelligence and Security (AGIS) initiative, aimed at improving power reliability and grid security in Colorado, with a proposed cost of $500 million.

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 the Energy Analytic Security Exchange (EASE), a "threat information sharing community."

December 2018: Xcel Energy announces clean energy goals

In December 2018, Xcel Energy announced its commitment to delivering 100 percent clean, carbon-free electricity by 2050, targeting an 80 percent carbon reduction by 2035 relative to 2005 levels. This initiative positions Xcel as the first major US utility to establish such an ambitious environmental objective.

December 2018: Xcel Energy announces carbon-free pledge

In December 2018, Xcel Energy committed to becoming carbon-free, targeting an 80% carbon reduction by 2030 and 100% reduction by 2050.

2018: Xcel Energy named "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 for energy management personalization, and its plan to retire 50 percent of its coal-powered capacity by 2026.

May 20, 2019: Xcel Energy announces coal plant closures in Minnesota

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

December 30, 2021: Marshall Fire

On December 30, 2021, the Marshall Fire started in Boulder County, Colorado, and spread across Superior and Louisville counties, resulting in more than $2 billion in property damage.

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, with an estimated leak of 400 thousand gallons of contaminated water containing radioactive tritium.

2022: Xcel Energy proposes transmission system updates

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

2022: Colorado Power Pathway Approved

In 2022, regulators approved the Colorado Power Pathway, allocating $1.7 billion to Xcel for expanding transmission infrastructure in eastern Colorado.

March 16, 2023: Xcel Energy Announces Radioactive Water Release

On March 16, 2023, Xcel Energy publicly announced a significant unplanned release of radioactive water from its Monticello nuclear power plant that occurred on November 21, 2022. The event was previously reported to authorities but concealed from the public.

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.

February 26, 2024: Smokehouse Creek Fire

On February 26, 2024, the Smokehouse Creek Fire began in the Texas Panhandle. Xcel Energy acknowledged its facilities played a role in the ignition of the fire.

2026: Xcel Energy plans to retire coal capacity

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

2027: Xcel Energy transmission system updates timeline

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

2027: Estimated completion date for Colorado Power Pathway

In 2022, regulators approved the Colorado Power Pathway, allocating $1.7 billion to Xcel for expanding transmission infrastructure in eastern Colorado with current timelines having most of the project being completed by 2027.