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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

FERC Will Question El Paso Electric About Enron

LCG, October 29, 2002-The Federal Energy Regulatory Commission intends to further examine transactions between Enron and Texas utility El Paso Electric.

El Paso Electric, not to be confused with the unrelated gas company El Paso Corp., was intimately involved with electricity sent into California during the energy crisis of 2000/2001. Enron marketing associates were reportedly involved with trading electricity on behalf of the utility.

Pedro Serrano, former El Paso Electric vice president, and Kathy Peterson, a current employee in the utility's power marketing segment, will be questioned on November 6. The depositions, to be held at FERC's Washington headquarters, are intended to uncover whether or not the utility participated in any of Enron's convoluted trading schemes in order to manipulate Western electricity markets.

Earlier this year FERC began investigations of El Paso Electric when the utility was found to have "excessive joint dealings" with now bankrupt energy company Enron in 2000 and 2001. El Paso Electric made significant revenue from such dealings, taking in $7.3 million during the month of June in 2000.

El Paso Electric serves roughly 309,000 customers in Western Texas and Southern New Mexico.

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