MINNEAPOLIS--(BUSINESS WIRE)--
Xcel Energy officials said today they plan to reintegrate nuclear
operations into Xcel Energy's energy supply business unit. Under the
plan, Xcel Energy will apply to the Nuclear Regulatory Commission to
transfer the operating licenses for the Prairie Island and Monticello
nuclear plants from Nuclear Management Co. to Northern States Power
Co.-Minnesota, an Xcel Energy operating utility.
The move comes in the wake of We Energies' recent sale of Point
Beach Nuclear Plant to FPL Energy and transfer of the Point Beach
plant's operating license from NMC to FPL, which left Xcel Energy as
the sole member of NMC. NMC will continue operating Xcel Energy'sPrairie Island and Monticello plants until the NRC approves the
license transfers, which are expected to occur in 2008.
After the license transfers are complete, NMC employees will
become Xcel Energy employees. Those at NMC headquarters in Hudson,
Wis., will move to Xcel Energy offices in the Twin Cities.
"NMC has been an excellent operator of our nuclear plants,
therefore I believe reintegrating nuclear operations into Xcel Energy
provides us the best value and will strengthen our overall
operations," said David Wilks, president of Xcel Energy's energy
supply unit.
NMC was formed by NSP-Minnesota, now an Xcel Energy subsidiary,
and several other utilities in 1999 and began operating nuclear plants
in 2000.
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