Item 8.01. Other Events
Electric Resource Plan OnMarch 31, 2021 ,Public Service Company of Colorado (PSCo), aColorado corporation and wholly owned subsidiary ofXcel Energy Inc. , filed its 2021 Electric Resource Plan with theColorado Public Utilities Commission (CPUC). The filing outlines the proposed future retirements/conversions of PSCo's remaining coal plants and the planned actions to achieve an 80% carbon emissions reduction target by 2030. The major components of PSCo's proposed preferred plan include: •Early retirement ofComanche Generating Station : Unit 3 in 2040 (currently 2070); •Early retirement ofHayden Generating Station : Unit 1 in 2028 (currently 2030); Unit 2 in 2027 (currently 2036); •Conversion ofPawnee Generating Station from coal to natural gas by 2028 (conversion costs of approximately$50 million ) with retirement in 2041; •The addition of 2,300 megawatts of wind power; •The addition of 1,600 megawatts of large-scale solar power; •The addition of 400 megawatts of energy storage; •The addition of 1,300 megawatts of flexible dispatchable resources (including natural gas); and •The addition of 1,200 megawatts of distributed generation solar resources. The preferred plan proposes to create a regulatory asset to recover costs over their original depreciation lives for the Hayden power plant and the coal handling equipment at Pawnee. It also proposes the use of securitization to finance the remaining book life and decommissioning costs for Comanche 3 upon retirement in 2040. A CPUC decision on the resource plan is expected by the end of 2021 (Phase I) with the solicitation for resource additions expected in 2022 (Phase II). Incremental generation system costs to meet carbon emission reduction targets are proposed to be recovered through a statutorily-authorized Clean Energy Plan Rider, to be implemented following the CPUC's Phase II decision.
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Certain information discussed in this Current Report on Form 8-K is
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addition to those discussed in
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