Xcel Energy Files 2007 Renewable Energy Compliance Plan

To address how Xcel Energy is meeting the Renewable Energy Standard requirements born out of the voter-approved Amendment 37 from November 2004, the company filed its 2007 Renewable Energy Compliance Plan with the Colorado Public Utilities Commission.

The Compliance Plan reflects the initial success of the standard rebate offer for the installation of small solar generation facilities that result from the company’s Solar Rewards program. In addition, Xcel Energy recently received bids for more than 26 megawatts (MW) of onsite solar power located on commercial properties — and anticipates that many of these projects can be used to comply with the solar power generation portion of the Renewable Energy Standard earlier than anticipated. The Compliance Plan includes the successful outcome of a separate bidding program for an 8.5-MW central solar generation facility in the San Luis Valley, which will be online by the end of 2007. As part of the filing, the company is proposing to maintain an electricity rider known as the Renewable Energy Standard Adjustment (RESA) at current levels of six-tenths of 1% of a customer’s total electricity bill each month. Funds collected through the RESA will pay for rebates and renewable energy credits to qualifying customers who install solar power systems on their homes and businesses. A portion will also fund purchases from a large central solar power plant in the San Luis Valley. “The 2007 Plan that we filed today shows that we will be successful in meeting the renewable energy levels that our customers voted for when Amendment 37 passed in November 2004,” said Fred Stoffel, Vice President of Policy Development.
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