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Xcel Energy Submits IRP to Provide Path to Achieve 100 Percent Carbon-free Energy by 2050

LCG, July 9, 2019--Northern States Power Company, doing business as Xcel Energy, submitted its 2020-2034 Upper Midwest Integrated Resource Plan (IRP) to the Minnesota Public Utilities Commission on July 1. Xcel Energy (Xcel) states that the IRP "charts the path toward achieving some of the most ambitious carbon reduction goals of any utility in the U.S. Specifically - we aim to reduce carbon emissions 80 percent by 2030, and provide 100 percent carbon-free energy by 2050."

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Interest in Eastern Offshore Wind Projects Rising

LCG, July 5, 2019--Two bills were introduced in the U.S. Senate last week to extend the federal Investment Tax Credit (ITC) for offshore wind energy. Federal subsidies, together with offshore wind technology advances and states' plans to increase renewables, may spur rapid investments in offshore wind.

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Industry News

East Timor and Australia Make New Gas Agreement

LCG, May 17, 2002-Australian Prime Minister John Howard will sign a treaty with East Timor next week.

The Timor Gap Treaty addresses the Sunrise gas field, located in the Timor Sea and partially inside joint development areas.

Revenue is to go to both East Timor and Australia, and the two countries have been negotiating in anticipation of East Timor's freedom from U.N. administration.

Details of the treaty have yet to be released, although Howard said that "fair and good" concessions were made.

The first Timor Gap Treaty was made in 1989 between Australia and Indonesia, after Indonesia took over East Timor. When East Timor became independent from Indonesia ten years later, the treaty became void.

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