Xcel Energy Surpasses National Carbon Emissions Reduction Goal
Xcel Energy announced today that, as of 2013, it has reduced carbon dioxide emissions by nearly 20 percent since 2005, already exceeding President Obama’s goal of a 17 percent reduction by 2020.
“Over the past decade Xcel Energy has invested in a cost-effective clean energy strategy that is benefitting both our customers and the environment,” Ben Fowke, chairman, president and CEO of Xcel Energy, said. “We are making significant progress reducing emissions at an excellent price through a combination of energy efficiency programs and coal plant retirements and conversions, and by embracing renewable energy earlier than other utilities. We are on track to surpass our company’s original carbon reduction target of 20 percent to achieve a projected carbon reduction of 31 percent by 2020.”
In its tenth-annual Corporate Responsibility report, Xcel Energy also reports it has more than doubled its use of clean, renewable resources from 7 percent of the company’s energy mix in 2004 to 20 percent in 2013, and plans to reach 27 percent by 2020. As part of that commitment, in 2013 Xcel Energy announced plans to add another 1,900 megawatts of wind energy and 170 megawatts of solar energy to its portfolio, all at prices below fossil fuel alternatives. This year the company was also named the nation’s top wind provider for the tenth consecutive year by the American Wind Energy Association.
“We know how to make clean energy work for our customers,” said Frank Prager, vice president for policy and strategy at Xcel Energy. “By offering a diverse portfolio of clean energy choices, we enable customers to utilize the renewable energy they value with the reliability and cost-effectiveness they deserve.”
Other highlights from the company’s Corporate Responsibility report include:
- Cutting air emissions of nitrogen oxides and sulfur dioxide by about half since 2005, with a more than 60 percent reduction projected by 2020.
- Providing customers $75 million in incentives in 2013 to encourage energy efficiency through more than 90 electricity saving programs and more than 45 natural gas programs; customers saved 985 gigawatt hours of electricity in 2013, enough to power more than 121,000 homes and 1.48 million dekatherms of natural gas, enough to fuel more than 17,000 homes.
- Also in 2013, the American Wind Energy Association recognized Xcel Energy as the Utility of the Year for the second time in five years for the company’s commitment to new wind energy acquisitions and progressive wind integration efforts.
Xcel Energy (NYSE: XEL) is a major U.S. electricity and natural gas company with regulated operations in eight Western and Midwestern states. Xcel Energy provides a comprehensive portfolio of energy-related products and services to 3.5 million electricity customers and 1.9 million natural gas customers through its regulated operating companies. Company headquarters are located in Minneapolis. More information is available at www.xcelenergy.com.
Copyright Business Wire 2014