Xcel's fortune windfall
April 17, 2014 | By
Barbara Vergetis Lundin
Xcel Energy has been named the top wind energy provider in the United States for the tenth year in a row, as a national leader in providing wind energy to its customers. This is according to a report from the American Wind Energy Association (AWEA), which also named Xcel Utility of the Year in 2013 for its commitment to new wind energy acquisitions and progressive wind integration efforts.
Honored by the distinctions, Ben Fowke, chairman, president and CEO of Xcel Energy explained, "We embraced wind energy early because it's clean, cost-effective and will protect our customers against rising fuel prices in the future." Xcel also feels it has been fortunate to exist in a state with excellent wind resources and policies supporting "fair and cost-effective development of wind," enabling them to increase the use of renewable energy and reduce emissions at a reasonable cost for customers. As of 2013, Xcel Energy had 5,080 MW of wind energy on its systems -- enough to meet the energy needs of about 2.5 million homes. Wind was also about 15 percent of the company's energy supply. Xcel Energy projects it will be more than 20 percent by 2020. In 2013, Xcel said it would expand its wind power use by another 40 percent over the next several years, and is currently finalizing approvals and agreements to participate in nine new projects that will add a total of 1,900 MW throughout its service territory in order to serve nearly one million more homes. The projects are estimated to save customers more than $900 million over the length of the contracts. Xcel uses state-of-the-art wind forecasting tools to set national records for the amount of wind energy on its system. For example, in May 2013, wind energy provided more than 60 percent of Xcel's electricity supply in one day on its Colorado system -- setting a national record. The company also estimates it has saved $37.5 million in fuel costs since working to improve wind forecasting in 2009. For more:
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