Company:Xcel Energy

From HandWiki
Xcel Energy Inc.
TypePublic
IndustryElectricity and Natural Gas Utility
Founded1909; 115 years ago (1909)
HeadquartersMinneapolis, Minnesota, United States
Key people
  • Ben Fowke
  • (Chairman, President, & CEO)
  • Robert C. Frenzel
  • (Executive VP & CFO)
  • Jeffrey S. Savage
  • (Senior VP & Controller)
RevenueIncrease US$ 11.40 billion (2017)
Decrease US$ 2.19 billion (2017)
Increase US$ 1.15 billion (2017)
Total assetsIncrease US$ 43.03 billion (2017)
Total equityIncrease US$ 11.46 billion (2017)
Number of employees
~11,075 (2017)
WebsiteXcelEnergy.com
Footnotes / references
[1][2][3]

Xcel Energy Inc. is a utility holding company based in Minneapolis, Minnesota, serving more than 3.3 million electric customers and 1.8 million natural gas customers in Minnesota, Michigan, Wisconsin, North Dakota, South Dakota, Colorado, Texas and New Mexico in 2017. It consists of four operating subsidiaries: Northern States Power-Minnesota, Northern States Power-Wisconsin, Public Service Company of Colorado, and Southwestern Public Service Co.[4]

History

Xcel Energy was built on three companies: Minneapolis-based Northern States Power Company (NSP), Denver-based Public Service Company of Colorado (PSCo), and Amarillo-based Southwestern Public Service (SPS). Southwestern Public Service Co. (SPS) dates its origins to 1904 and the Pecos Valley in New Mexico when Maynard Gunsell received an electricity franchise for the city of Roswell, New Mexico and its 2,000 residents. The financial strain of creating this new enterprise soon overwhelmed him and he sold the franchise to W.H. Gillenwater, who named his utility the Roswell Electric Light Co. He later sold the company to an investment firm in Cleveland, Ohio, which already owned the Roswell Gas Co.[5]

Northern States Power Company's timeline begins with the organization of the Washington County Light & Power Co. in 1909. When H. M. Byllesby began building his utility holding company across the Northwestern region of the US, he renamed it the Consumers Power Co. in 1910 and which was renamed the Northern States Power Co. in 1916.[6] While the bulk of NSP's territory grew across central and southern Minnesota (starting from the Twin Cities), it acquired territory in North Dakota (centering on Fargo, Grand Forks, and Minot) and extended southwest into South Dakota (centering on Sioux Falls). NSP's system also extended east into Wisconsin, but because of utility ownership laws in that state, it was operated as an entity separate from the rest of the company.

Public Service Company of Colorado (PSCo) was formed in 1923 to provide an electric generating station for the Denver area. By 1924, it had acquired most of the electric companies in northern and central Colorado. Originally a subsidiary of Cities Service Company, it became an independent autonomous operation in November 1943.[7] By this time, it served 80 percent of Colorado’s gas and electricity needs. As demand for energy continued to grow, so did PSCo. Eventually, the company merged with SPS to form New Century Energies (NCE) in 1995.[8][9]

Northern States Power and Wisconsin Energy Corporation had planned to merge into a new outfit that was to be called Primergy[10] - but the merger fell through because of the time it was taking to gain the required approvals from state and federal agencies.[11] After the failed Primergy merger, NSP (both the Minnesota and Wisconsin companies) merged with New Century Energies to form Xcel Energy.[12][13] In 2005, Xcel sold Cheyenne Light, Fuel and Power to Black Hills Corporation.[14] Cheyenne Light, Fuel and Power had been a subsidiary of PSCo since the 1920s, and had become an operating company of NCE after the merger with SPS.

The Cabin Creek Fire occurred on October 2, 2007 at Xcel Energy’s Hydropower Generation plant in Georgetown, Colorado.[15][16] On June 1, 2011, Federal prosecutors opened their charges that Xcel Energy was criminally liable for the deaths of the five RPI workers. On June 28, the jury found Xcel Energy not guilty.[17][18] On December 19, 2011, RPI Coating pleaded guilty to workplace safety violations and paid $1.55 million in a cash settlement. The company took responsibility for the deaths of five workers and the injuries to three.[19]

Generation portfolio

Xcel Energy currently has 13 coal plants with a capacity of 7,697 MW. Seven of those plants are operated in Colorado.[20] Xcel Energy owns and operates three wind farms. In October 2011, Xcel Energy set a world record for electricity from wind power.[21]

Xcel Energy generates over 500 megawatts of hydroelectric power from 27 plants in Wisconsin, Minnesota, and Colorado. This accounts for only four percent of their electricity generation. They also purchase large amounts of hydro-generated electricity from Manitoba Hydro.

The Bay Front Power Plant in Wisconsin.

Biomass electricity comes from organic fuel sources. Xcel Energy has contracts for about 110 megawatts of electricity from biomass generators. Two in northern Minnesota are fueled by forest harvest residue, such as treetops and limbs. A third facility, brought on line in 2007 in western Minnesota, generates power using turkey litter.[22]

Xcel Energy's Bay Front plant in Ashland, Wisconsin, is a three-unit generating station that has become a model for the creative use of fuels: coal, waste wood, railroad ties, discarded tires, natural gas, and petroleum coke. Two of the three Bay Front operating units already use biomass as their primary fuel. Xcel Energy recently proposed a plan to install biomass gasification technology at Bay Front. The waste-to-energy facilities use waste that would otherwise end up in landfills. The Wisconsin waste-to-energy plant burns wood waste in combination with refuse-derived fuel (RDF).

Xcel Energy owns and operates two nuclear power plants:

  • Monticello Nuclear Generating Plant near Monticello, Minnesota
  • Prairie Island Nuclear Generating Plant near Red Wing, Minnesota

and stores the spent fuel from these nuclear plants on site in independent spent fuel storage installations. (ISFSIs).[23]

System Information and Transmission

Xcel Energy operates the fourth largest transmission system in the United States, spanning 10 states. In 2011, Xcel Energy’s transmission system was worth $3.3 billion.[24]

The transmission system is operated on a non-discriminatory basis under the open access requirements of the Federal Government. This means that all wholesale buyers and sellers of electricity can use the transmission system under the same terms and conditions used to serve Xcel Energy’s own retail customers.[22] The transmission lines are utilized to carry 115,000 volts, 230,000 volts, and 345,000 volts. There is also a 500,000 volt transmission line that runs from the Dorsey Substation outside of Winnipeg, Manitoba in Canada to the Chisago Substation located in Chisago County just north of St. Paul, Minnesota.[22]

Programs

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. In 2015, about 96,000 people were enrolled in Windsource.[25] 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.[26]

Xcel Energy also offers customers incentives to install solar panels. 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 with representatives of solar power companies to restore the solar incentive program until it is fully reviewed by the Public Utilities Commission.[27]

Controversies

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.[28][29] Xcel paid $80,000,000 in a settlement.[30][31]

In early October 2007, a flash fire within a penstock at Xcel Energy's hydroelectric plant at Cabin Creek occurred which resulted in the death of 5 contract workers.[32] The U.S. Chemical Safety and Hazard Investigation Board conducted an investigation of the incident. Its report can be found on the CSB website. It is considered one of the worst unmitigated incidents to occur in a permit required confined space.

See also

  • Plant X, Lamb County, Texas

References

  1. ↑ "US SEC: Form 10-K Xcel Energy Inc.". U.S. Securities and Exchange Commission. https://www.sec.gov/Archives/edgar/data/72903/000007290318000009/xcel1231201710-k.htm. Retrieved March 9, 2018. 
  2. ↑ "Xcel Energy, Form 424B2, Filing Date Nov 29, 2016". secdatabase.com. http://pdf.secdatabase.com/682/0001193125-16-779389.pdf. Retrieved May 5, 2018. 
  3. ↑ "Xcel Energy Inc, Form 8-K, Current Report, Filing Date Aug 21, 2000". secdatabase.com. http://edgar.secdatabase.com/1812/91205700038454/filing-main.htm. Retrieved May 5, 2018. 
  4. ↑ "Xcel Energy, Form 10-Q, Quarterly Report, Filing Date Apr 27, 2018". secdatabase.com. http://edgar.secdatabase.com/1322/7290318000017/filing-main.htm. Retrieved May 5, 2018. 
  5. ↑ "Southwestern Public Service Company History". Funding Universe. http://www.fundinguniverse.com/company-histories/southwestern-public-service-company-history/. Retrieved 17 October 2012. 
  6. ↑ "NORTHERN STATES POWER COMPANY (MINNESOTA)". Minnesota Historical Society. http://www.mnhs.org/library/findaids/00230.xml. Retrieved 12 February 2013. 
  7. ↑ Public Service Company of Colorado history
  8. ↑ "New Century Energies, Form S-4, Filing Date Dec 13, 1995". secdatabase.com. http://pdf.secdatabase.com/885/0000950130-95-002687.pdf. Retrieved May 5, 2018. 
  9. ↑ Press, From Associated (1995-08-24). "Colorado Power Company to Merge With Texas Utility". Los Angeles Times. ISSN 0458-3035. http://articles.latimes.com/1995-08-24/business/fi-38566_1_colorado-power. Retrieved 2015-02-27. 
  10. ↑ "Northern States Power Company, Form 8-K, Current Report, Filing Date May 3, 1995". secdatabase.com. http://pdf.secdatabase.com/2297/0000898822-95-000046.pdf. Retrieved May 5, 2018. 
  11. ↑ "Northern States Power Company, Form 8-K, Current Report, Filing Date May 19, 1997". secdatabase.com. http://edgar.secdatabase.com/1654/7290397000007/filing-main.htm. Retrieved May 5, 2018. 
  12. ↑ "Xcel Energy, Form 8-K, Current Report, Filing Date Jun 29, 1999". secdatabase.com. http://edgar.secdatabase.com/1327/7290399000013/filing-main.htm. Retrieved May 5, 2018. 
  13. ↑ BERGQUIST, LEE (17 May 1997). "Plug pulled on Primergy Firms call off merger, blame delays". Milwaukee Journal Sentinel. "Wisconsin Energy Corp. and Northern States Power Co. called off their $6 billion merger late Friday afternoon - two days after federal regulators raised major concerns about the deal." 
  14. ↑ "Xcel Energy, Form 35-CERT, Filing Date Feb 7, 2005". secdatabase.com. http://edgar.secdatabase.com/1995/104746905002569/filing-main.htm. Retrieved May 5, 2018. 
  15. ↑ "Xcel Energy Inc, Form 10-Q, Quarterly Report, Filing Date Oct 26, 2007". secdatabase.com. http://edgar.secdatabase.com/506/110465907077398/filing-main.htm. Retrieved May 5, 2018. 
  16. ↑ Frosch, Dan (4 October 2007). "Investigators Trace Fatal Colorado Fire to Sealant Device". The New York Times. https://www.nytimes.com/2007/10/04/us/04colorado.html?_r=1&n=Top/News/Business/Companies/Xcel%20Energy%20Inc. Retrieved 15 October 2012. 
  17. ↑ "Northern States Power Company, Form 10-Q, Quarterly Report, Filing Date Jul 29, 2011". secdatabase.com. http://edgar.secdatabase.com/2450/114036111038534/filing-main.htm. Retrieved May 5, 2018. 
  18. ↑ "Xcel Energy Acquitted Of Criminal Charges For Five Deaths Of Workers At Cabin Creek Hydroelectric Plant Fire". The Huffington Post. 29 August 2011. http://www.huffingtonpost.com/2011/06/29/xcel-energy-acquitted-of-_n_886723.html. Retrieved 15 October 2012. 
  19. ↑ Ingold, John (20 December 2011). "RPI to pay $1.55 million in 2007 Colorado power plant fire that killed 5". The Denver Post. http://www.denverpost.com/news/ci_19582334?IADID. Retrieved 15 October 2012. 
  20. ↑ "Xcel’s Coal Plants". Clean Energy Action. http://cleanenergyaction.org/learn-more/colorado-coal-plants/. Retrieved 17 October 2012. 
  21. ↑ Jaffe, Mark (15 November 2011). "Xcel sets world record for wind power generation". The Denver Post. http://www.denverpost.com/breakingnews/ci_19342896. Retrieved 18 October 2012. "Early on the morning of Oct. 6, Xcel Energy set a world record for electricity from wind power." 
  22. ↑ 22.0 22.1 22.2 https://www.xcelenergy.com/staticfiles/xe/Corporate/Corporate%20PDFs/2008_Xcel_Energy_Corporate_Responsibility_Report.pdf
  23. ↑ "Nuclear Power". Xcel Energy. Archived from the original on December 31, 2009. https://web.archive.org/web/20091231080356/http://xcelenergy.com/Minnesota/Company/About_Energy_and_Rates/Power%20Generation/Pages/NuclearPower.aspx. Retrieved 2009-11-25. 
  24. ↑ "Transmission" (Web). Xcel Energy Corporate Responsibility Report 2011. 2011. https://www.xcelenergy.com/staticfiles/xe/Corporate/CRR2011/excellent-operations/transmission/index.html. Retrieved 19 October 2012. 
  25. ↑ "Xcel Energy Inc, Form 10-K, Annual Report, Filing Date Feb 19, 2016". secdatabase.com. http://edgar.secdatabase.com/1761/7290316000123/filing-main.htm. Retrieved May 5, 2018. 
  26. ↑ "2011 Energy Efficiency Program Results". Xcel Energy 2011 Corporate Responsibility Report. Xcel Energy. 2011. http://www.xcelenergy.com/staticfiles/xe/Corporate/CRR2011/clean-energy/energy-efficiency/program-results.html. Retrieved 1 November 2012. 
  27. ↑ "Colorado PUC OKs Xcel solar incentives settlement". Denver Business Journal. 18 March 2011. http://www.bizjournals.com/denver/news/2011/03/18/colorado-puc-oks-xcel-solar-incentives.html. Retrieved 1 November 2012. 
  28. ↑ "Northern States Power Company, Form 8-K, Current Report, Filing Date Nov 19, 2002". secdatabase.com. http://edgar.secdatabase.com/2263/95013402014694/filing-main.htm. Retrieved May 5, 2018. 
  29. ↑ "IN RE XCEL ENERGY, INC., SECURITIES, DERIVATIVE". Archived from the original on February 1, 2014. https://web.archive.org/web/20140201124957/http://www.coursehero.com/file/2719920/20020801f01cBruckner/. 
  30. ↑ "Northern States Power Company, Form 11-K, Filing Date Jun 29, 2007". secdatabase.com. http://edgar.secdatabase.com/1359/110465907051260/filing-main.htm. Retrieved May 5, 2018. 
  31. ↑ "Northern States Power Company, Form 8-K, Current Report, Filing Date Jan 20, 2005". secdatabase.com. http://edgar.secdatabase.com/441/110465905002025/filing-main.htm. Retrieved May 5, 2018. 
  32. ↑ "Northern States Power Company, Form 10-Q/A, Filing Date Dec 13, 2007". secdatabase.com. http://edgar.secdatabase.com/2864/110465907088753/filing-main.htm. Retrieved May 5, 2018. 

External links




Retrieved from "https://handwiki.org/wiki/index.php?title=Company:Xcel_Energy&oldid=3060831"