MINNEAPOLIS--(BUSINESS WIRE)--
Xcel Energy today opened a bidding process for 160 megawatts of
electricity to meet growing demand for power during peak-use periods
by its nearly 1.6 million electricity customers in the Upper Midwest.
The company requested proposals for power deliveries beginning May
1, 2011.
Peaking generation resources generally cost less to build than
base-load resources - such as coal and nuclear power - but use
higher-priced fuel. Also unlike base-load generation, which operates
24/7, peaking generation resources are called upon only during
high-electricity use periods, such as hot, humid summer days when air
conditioning use is high. Peaking plants often run on natural gas or
fuel oil.
Proposals are due Nov. 13, 2007. Xcel Energy will evaluate
proposals, select a short list and negotiate contracts with the
winning bidder(s). Xcel Energy expects to submit purchase power
agreements to the Minnesota Public Utilities Commission for approval
by May 2008.
The full text of the Request for Peaking Proposals is available on
Xcel Energy's Web site: http://www.xcelenergy.com/XLWEB/CDA/
0,3080,1-1-1_41994_42118_43244-40149-5_406_651-0,00.html (Due to its
length, this URL may need to be copied/pasted into your Internet
browser's address field. Remove the extra space if one exists.)
Xcel Energy (NYSE:XEL) is a major U.S. electricity and natural gas
company with regulated operations in eight Western and Midwestern
states. Xcel Energy provides a comprehensive portfolio of
energy-related products and services to 3.3 million electricity
customers and 1.8 million natural gas customers through its regulated
operating companies. Company headquarters are located in Minneapolis.
More information is available at www.xcelenergy.com.
Source: Xcel Energy
Contact: Xcel Energy
Media Relations, 612-215-5300
www.xcelenergy.com