Dive Brief:

• Xcel Energy can proceed with the purchase of up to 700 megawatts (MW) of wind power to serve its systems in Texas and New Mexico after approval by regulators, the company said Friday.
• The New Mexico Public Regulation Commission said the utility could buy wind power from projects planned for Hansford and Ochiltree counties in the Texas Panhandle; Roosevelt County in eastern New Mexico; and Dewey and Blaine counties in western Oklahoma. Approval was not needed from Texas regulators.    

Dive Insight: 

Riley Hill, president and CEO of Xcel Energy unit Southwestern Public Service Co., said Xcel has already met and exceeded requirements of renewable portfolio standards in both New Mexico and Texas. The additional purchases are being made primarily for economic reasons and will save customers an estimated $590 million in fuel costs over 20 years. “The energy purchased from these facilities has been contracted at a price that is less than the price of power generated at some older natural-gas-fueled power plants,” Hill said.