Dive Summary:
- Southwestern Public Service Co. (SPS), a subsidiary of Xcel Energy Inc., serving Texas, New Mexico, Oklahoma and Kansas, is seeking approval in New Mexico to enter three power purchase agreements (PPA) to secure 700 MW of wind energy.
- SPS said the wind power prices "will be less than the per-MWh price of most of the company's natural gas-fired generation" and will save customers $590 million in fuel costs over the next 20 years.
- One PPA is with Infinity Wind Resources' Roosevelt wind project in New Mexico for 250MW. The other two PPAs are with NextEra Energy Resources, including a 249MW deal with its Palo Duro Wind Energy Center in Texas and a 199MW deal with NextEra’s Mammoth Plains wind project in Oklahoma.
From the article:
" ‘We started shopping for more wind power in March after seeing some very good prices on the market," SPS President and CEO Riley Hill said. He said the utility was making the wind power purchases "purely on economics.’ "
