AMARILLO, Texas (KFDA) – Xcel Energy is proposing multiple new power generation projects to meet growing energy demands across Texas and New Mexico.
The proposed projects include nearly 4,000 megawatts of new generation resources expected to be online by 2030.
Alongside the generation portfolio, Xcel Energy said it anticipates filing proposed large load tariffs in Texas and New Mexico. The tariffs would require high-demand customers — including data centers — to cover the costs needed to serve them, rather than shifting those costs to existing customers.
Justin Smiley, director of strategic planning at Xcel Energy, said the tariff structure is designed to direct costs specifically toward new large loads.
“And so the tariff itself, as you see that come out, you’ll notice those costs are pointed directly towards or dedicated towards those large loads coming online. We’re seeing load requests across our entire system. Every community, every region, all 52,000 square miles of our service area have some type of growth going on,” Smiley said.
The proposed portfolio of projects will be submitted for approval in Texas and New Mexico. If approved, Xcel Energy would fund capital for construction and seek rate adjustments to help pay for the new projects.
Smiley said the portfolio is built around load growth and that new customers would help offset costs.
“It’s designed around adding new customers to our system. So as you think about the costs and the expansion, we’re also adding customers. And so those new customers are going to help carry some of that share of the cost,” Smiley said.
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