Xcel Energy: Path to Carbon-Free Energy · 2020. 1. 14. · Xcel Energy is an electric and natural...

Xcel Energy: Path to Carbon-Free Energy

Patrick Burke VP Strategy

• January 14, 2020

• Employees: 11,865

• Natural gas operations

– Customers: 2.0 million

– Transmission: 2,209 miles

– Distribution: 35,112 miles

• Electricity operations

– Customers: 3.6 million

– Transmission and Distribution: 219,841 miles

Company Profile – Xcel EnergyXcel Energy is an electric and natural gas company that is committed to the clean energy transition. Based in Minneapolis, Minn., we have regulated operations in eight Midwestern and Western states, and provide a comprehensive portfolio of energy-related products through four operating companies.

Bold carbon-reduction goals

Safe ▪ Clean ▪ Reliable ▪ Affordable

2030 Plan – Ensuring Reliability

NuclearNatural Gas

Nuclear is about 25% of Energy GenerationNatural Gas (Hydrogen?) for Integration

• Hydrogen production identified as an opportunity

for demonstrating hybrid operations for the

nuclear fleet and renewable energy sources

• Xcel Energy is involved in DOE Hydrogen @ Scale study with other utilities

– Economic study for potential hydrogen use around existing power production facilities

– Long-term hydrogen storage

• Currently part of nuclear industry / lab consortium to advance H2 research

– Looking to perform demonstration with downstream users

Hydrogen Production

5

6

• In MISO day ahead market

• Current reductions to 80% power

• Evaluating hybrid operations - Hydrogen

New Technology Drives Lower Prices

Since January 2016

UniversalSolar

Wind 24%

33%

HydrogenFuel Cells

???

Powering our Energy Future

Questions?