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Xcel Energy Inc. is a U.S. regulated electric utility and natural gas delivery company based in Minneapolis, Minnesota, serving more than 3.7 million electric customers and 2.1 million natural gas customers across parts of eight states (Colorado, Minnesota, Wisconsin, Michigan, North Dakota, South Dakota, Texas and New Mexico). [3]
On May 3, 1995, Northern States Power Company and Wisconsin Energy Corporation (NYSE: WEC) each filed a Securities and Exchange Commission Form 8-K to combine in a merger-of-equals transaction to form Primergy Corporation, which would be a registered public utility holding company, and to be the new parent of both NSP and of the operating subsidiaries of WEC.
Xcel Energy Center is a multipurpose arena in Saint Paul, Minnesota, United States. Completed in 2000 and often called "The X" by fans, [ 5 ] it is named for its locally based corporate sponsor Xcel Energy .
In May 2019, Xcel Energy announced a change where the Sherco plant's third unit will shut down in 2030, about a decade earlier than previously planned, while the company hopes to keep the nearby Monticello nuclear plant in operation until at least 2040, although that is 10 years longer than it is currently licensed to operate.
In 1991, Xcel Energy had requested permission from the Minnesota Public Utilities Commission to eventually store waste in 48 dry casks on the Prairie Island site. Opposition by environmentalists and the neighboring Prairie Island tribe led the Minnesota Legislature to decrease the number of allowed casks to 17; this was sufficient to keep the ...
In 2003, Xcel Energy paid NRG Energy $752 million for the benefit of NRG Energy's creditors and took a $2 billion write-off. [4] On May 14, 2003, NRG Energy filed for chapter 11 bankruptcy. In the company's reorganization, Xcel Energy relinquished its ownership interest, and NRG Energy became an independent, public company after bankruptcy.
The change was partly due to the Clean Air Act of 2010, which had the focus of reducing emissions from coal power plants, however other factors such as the inexpensive price of natural gas and pressure for the state to transition away from coal also played parts. [6] [7]
Prior to assuming the role of CEO, Fowke worked in a number of different capacities at Xcel Energy Inc. In 2014, he drew industry admiration as he began navigating the company to become more environmentally sustainable in anticipation of changing EPA regulations. [4] He was the president and COO from August 2009 to August 2011. [1]