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News
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LCG, August 15, 2025--Xcel Energy announced that the company received state approval yesterday from the Minnesota Public Utilities Commission to extend operations of the Prairie Island nuclear plant through the early 2050s. Prairie Island has two units that have a combined generating capacity of 1,100 MW. The units’ current operating licenses expire in 2033 and 2034.
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LCG, August 7, 2025--Portland General Electric (PGE) today announced the completion of three, four-hour lithium-ion utility-scale battery energy storage systems (BESS) in Oregon, adding 475 MW and more than 1.9 GWh of dispatchable capacity to serve the Portland metro area. Each of these BESS facilities can deliver power during peak demand or when other electric generating facilities are limited, which improves system flexibility, reliability and costs.
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Industry News
Minnesota PUC Approves Operations Extension for Xcel Energy's Prairie Island Nuclear Plant
LCG, August 15, 2025--Xcel Energy announced that the company received state approval yesterday from the Minnesota Public Utilities Commission to extend operations of the Prairie Island nuclear plant through the early 2050s. Prairie Island has two units that have a combined generating capacity of 1,100 MW. The units’ current operating licenses expire in 2033 and 2034.
Following the Commission’s unanimous vote to approve Xcel Energy’s application for increased storage of spent fuel at the site, the company plans to request a 20-year extension of the plant’s operating licenses from the U.S. Nuclear Regulatory Commission (NRC) in 2026. The federal review process typically takes 18-24 months and is focused on ensuring safe and reliable operations.
As electricity (i) demand increases from business expansion and electrification of homes and vehicles, and (ii) electricity supplies are generated more and more by intermittent renewable generation, the value of 24/7, carbon-free nuclear energy has significantly increased. Furthermore, Xcel Energy noted in its announcement that the company is currently delivering roughly $250 million in federal tax credits from the production of nuclear energy at the Prairie Island and Monticello plants back to its customers across the Upper Midwest.
"As the only 24/7 carbon-free resource currently available, nuclear energy will play a foundational role in meeting our customers’ growing energy demand, supporting economic development, and ensuring energy security in the Upper Midwest," said the President, Xcel Energy—Minnesota, North Dakota and South Dakota. "We appreciate the Commission’s continued recognition of nuclear energy’s importance and the thoughtful input of many stakeholders, including the Prairie Island Indian Community, the City of Red Wing and Goodhue County."
"Today’s approval from the Public Utilities Commission sends a message to our nuclear team that the work they do to power our customers’ lives is valued throughout the state," said the site Vice President of the Prairie Island plant. "We’re proud of the role our team has in delivering safe, reliable, carbon-free electricity throughout the Upper Midwest."
Xcel Energy operates two nuclear plants, Prairie Island and Monticello. The company also recently announced it will extend the operation of the Monticello plant through 2050 to support its clean energy vision, following the renewal of the plant’s operating license by the NRC and approval from the Minnesota Public Utilities Commission. Thus both nuclear plants will follow a similar track for 20-year license extensions.
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The Locational Marginal Price Model (LMP) Network Power Model
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Day Ahead and Real Time Market Simulation
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