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Xcel Energy Seeks More Renewables In New Mexico

Xcel Energy’s Southwestern Public Service Company (SPS) is seeking proposals for renewable resources other than wind or solar as part of its plan to diversify its renewable energy portfolio.

SPS is seeking, on an annual basis, approximately 88,705 MWh (megawatt-hours) of “other” renewable energy generation as defined by the New Mexico Renewable Portfolio Standard (RPS), or an equivalent amount of biogas of approximately 665,300 MMBtu (one million British thermal units) to be in commercial operation no later than January 1, 2015. SPS prefers that the biomass resources be located in New Mexico.

This solicitation will enable the company to comply with regulatory requirements in New Mexico that call for 15 percent of the company’s New Mexico retail sales to be derived from renewable resources by 2015. As part of the diversity requirement, 10 percent of the total renewable resource requirement must consist of “other” technologies such as biomass, hydro, or geothermal.

Contracts are subject to explicit regulatory approval by the New Mexico Public Regulation Commission.

Bidders are required to submit a Notice of Intent to Bid no later than Friday, August 31. The submission deadline is 5 p.m. Mountain Daylight Time on Monday, October 1. Interested parties may access a copy of the RFP at www.xcelenergy.com/About_Us/Our_Company/Projects_and__RFPs after 3 p.m. MDT, July 31.

Xcel Energy (NYSE: XEL) is a major U.S. electricity and natural gas company with regulated operations in eight Western and Midwestern states. Xcel Energy provides a comprehensive portfolio of energy-related products and services to 3.4 million electricity customers and 1.9 million natural gas customers through its regulated operating companies. Xcel Energy’s headquarters are located in Minneapolis. More information is available at www.xcelenergy.com.

Potential contracts entered into will be subject to the Reasonable Cost Threshold, which is a monetary cap established by Rule 572 of the Renewable Energy Act. If the renewable energy resource cost exceeds the RCT, a public utility is not required to add renewable energy to its electric energy supply portfolio. The RCT encompasses all resources used for compliance with the RPS. The Commission has issued a Notice of Proposed Rulemaking in Case No. 11-00218-UT, which addresses the composition of the RPS and also the calculation of the RCT. A final Commission decision in the rulemaking may impact SPS's evaluation and procurement of additional renewable resources pursuant to the renewable portfolio standard.



Stock quotes in this article: XEL 

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