Xcel getting even fatter off Colorado ratepayers
Xcel Energy just announced its 2010 earnings and the Minnesota based energy company did very well this year: We had another very successful year in 2010, said Richard C. Kelly, chairman and chief executive officer. We delivered earnings in the upper half of our guidance range. This represents the sixth consecutive year in which we […]
Energy legislation to watch in 2011
The 2011 legislative session began in earnest last week in Colorado. Below are several bills we are watching. SB11-058 Electric Utilities Employ Least-Cost Planning for New Resource Acquisition Senator Scott Renfroe (R-SD13) is the prime sponsor. The Public Utilities Commission must consider “cost” when deciding on new energy facilities and resource acquisition. Cost to ratepayers […]
Update: ethics complaints for travelin' PUC
You read it here first. PUC commissioners Ron Binz (chairman) and Matt Baker have made some ethically questionable trips during their tenure on the PUC: At least one trip appears particularly problematic. BENTEK Energy, an Evergreen-based energy company, paid nearly $1000 in travel expenses for Binz to attend and participate in the “Benposium” in Houston […]
Smart Grid City: Suddenly, the PUC Cares about Costs?
The PUC has finally ruled on Xcel’s cost-recovery for the Boulder Smart Grid City (SGC). Before we get to that, here’s a timeline of the SGC, for background: January 2008: Xcel announced it was looking for a city of 100,000 in its eight-state territory as a test bed for smart grid. March 2008: Xcel chooses […]
HB 1365 Update: The Appeals Are in…and Everyone Objects to the PUC’s Decision
This week was the deadline to appeal the PUC’s decision on a HB 1365 implementation plan, and judging by the briefs, no one is satisfied that the PUC’s decision passes legal muster. Here’s a roundup of who argued what, along with links to the appeals: Xcel alleges that the PUC’s decision “fails to put into […]
Xcel getting fat off Colorado ratepayers
The cost of the New Energy Economy is just being felt by Colorado ratepayers and enjoyed by Minnesota-based Xcel Energy as proved by the chart below, which is based on the energy company’s third quarter earnings report. But first a few facts about the economics of utility companies: Investor-owned utilities such as Xcel Energy operate […]
Don’t Let the PUC Hide the Cost of HB 1365
“I have a moderate proposal” was how PUC Chairman Ron Binz introduced his interpretation of cost recovery provisions in HB 1365, the Clean Air Clean Jobs Act, legislation that effectively mandates fuel switching from coal to natural gas for almost 1,000 megawatts of base-load electricity generation along the Front Range. It was a very important […]
HB 1365 Update: Xcel Remains Undecided; Coal Interests Begin To Litigate, Promise More
Regarding HB 1365 (a.k.a. the Clean Air Clean Jobs Act), the big news is that Xcel has yet to make up its mind. As I noted here, the Minneapolis-based utility has the authority under HB 1365 to veto the fuel switching implementation plan chosen by the PUC on December 10. So far, Xcel has kept […]
HB 1365 Update: Don’t Be Shocked If Xcel Ditches the PUC’s HB 1365 Plan
Despite media reports to the contrary, HB 1365 isn’t settled It has been widely reported that the book closed on the Clean Air Clean Jobs Act last Thursday, when the PUC selected an implementation plan after almost four months of deliberations, but this is untrue. In fact, there’s another chapter of this story, and the […]
Regarding HB 1365, Here Are Two Numbers To Remember
$8 Doesn’t anyone remember the summer of 2008 when natural gas prices spiked to $8 dollar/mmbtu? Currently, coal supplies almost 70% of Xcel’s electricity portfolio; In 2018, thanks to the Clean Air Clean Jobs Act, coal will supply less than half, while natural gas’s share will increase to more than 40%. The upshot is that […]
The PUC Has Chosen a HB 1365 Plan…So What’s Next?
The PUC on Thursday decided on an implementation plan for the Clean Air Clean Jobs Act. Read about it here, here, and here. So what’s next? First, Xcel must decide if PUC’s chosen plan is acceptable. HB 1365 allows Xcel “to withdraw its application,” if it “disagrees with the Commission’s modifications to its proposed plan.” […]
Bad day for Colorado energy users
It’s a bad day for Colorado energy users, and that’s pretty much everyone. The ethically-challenged Public Utilities Commission just gave a final thumbs up to Xcel’s fuel switching plan as mandated by HB 1365. (See all previous posts from my colleague William Yeatman) Losers in this deal include consumers who will see their utilities costs […]
