Dive Brief:
- Xcel Energy began the first leg of a broad new plan designed to upgrade Colorado's power grid, incorporate more renewables and energy storage, and allow customers more choice in how they source and utilize energy, the Denver Business Journal reports.
- Included in the plan is a 10,000-customer smart meter pilot, community solar program, and a new monthly grid fee that would target homes with solar panels installed.
- Xcel is made the proposal as the second phase of its rate case, which the commission approved last year. The plan, said officials, will raise rates by no more than 1.9% annually from 2018 to 2021.
Dive Insight:
Officials told the Denver Business Journal that their plan will "pave the way for an interactive, intelligent and efficient grid."
That plan will be formalized in filings this week and in the months ahead, but broadly speaking will come in 10 tranches that include focuses on rates, renewables, natural gas, storage and other areas. The utility has asked for an extension until June on its integrated resource plan, but said it is considering adding about 1,000 MW of new solar and wind.
Xcel has also asked for authorization to be a non-operating owner of gas reserves, seeking to take advantage of low commodity prices. “It would secure a long-term stabilization of prices for our customers, you can lock in 20 to 30 years of supply at low prices,” Eves said.
Eves also told the Journal that the plan was developed at the behest of several groups, including city leaders and economic development interests. “They tell us that low rates are really good, but what [they] want is things that will bring in millennials and companies that want to try new things,” he said.
