Xcel Energy is expecting to pay between $25/MWh and $35/MWh over the next 20 years for its recently approved wind power purchase agreements, Platts reported Xcel President and CEO Ben Fowke saying during an earnings conference call with analysts.
Regulators in Colorado and Minnesota approved wind PPAs for Xcel totaling 850 MW in October, according to Platts. In addition, the Minnesota Public Utility commission approved 350 MW in utility-owned wind farms for the company.
According to the report, Fowke said the company expects the wind projects to save its customers around $800 million in fuel costs over 20 years while also lowering environmental costs.
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