Xcel Energy Proposes to Exit Coal by 2030

The company is leading the nation’s clean energy transition as it reduces carbon emissions 80% by 2030 for electric customers, with a vision to achieve 100% carbon-free electricity by 2050.

Retiring coal generation while continuing to add reliable and affordable clean energy sources are key to Xcel Energy’s strategy in the eight states it serves.

“As the first energy provider in the nation to set ambitious goals for addressing all the ways our customers use energy – electricity, heating and transportation – we are always striving to provide our customers cleaner energy resources, while saving them money,” said Bob Frenzel, chairman, president and CEO of Xcel Energy. “Advancing the retirement of coal operations at Tolk Station demonstrates our commitment to our clean energy strategy, while ensuring our customers and communities have reliable, affordable and safe service.”

In addition to accelerating the clean energy transition, retiring coal at Tolk Station earlier than planned is estimated to save Xcel Energy’s customers in Texas and New Mexico more than $70 million.

With the proposed earlier retirement date, Tolk will continue flexible operations to optimize generation when natural gas prices are high while managing limited remaining water resources.

Additionally, changes in federal laws are making the replacement of coal generation with cleaner energy sources more cost-effective.

“For more than forty years, the dedicated employees at Tolk Generating Station have provided reliable and safe service to our Texas and New Mexico customers and communities,” said Adrian Rodriguez, president, Xcel Energy New Mexico, Texas. “While we maximize replacement generation in the region, we’re also committed to transition our employees into new roles as needed, something we’ve done successfully at other Xcel Energy plants.”