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Citizen Training for PUC Hearing Xcel Colorado Electric Resource Plan

November 30 @ 7:00 pm 9:00 pm

Tuesday November 30, 2021, 7 pm Virtual

Citizen Training for PUC Hearing Xcel Colorado Electric Resource Plan

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https://us02web.zoom.us/j/87164424002?pwd=a1FBUE9XditVeEJNUEtjUzVtK1orUT09

Meeting ID: 871 6442 4002

Passcode: 037817

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Key high level messages for the PUC

1) This is “Code Red” for the planet. Please have the courage to move more quickly

  • Colorado has abundant wind, solar, storage and demand-side potential that is untapped. It is technically and economically feasible–now!! Let’s move faster. 
  • We don’t need to worry (much) about what happens at 80% renewable generation until we get there. Xcel is still below 40% renewable generation in Colorado–We can and must move faster. 
  • Natural gas is not a good long term solution. There is a “Social Cost of Methane” and SB21-246 (Section 4) as signed by the Governor directs you to consider the Social Cost of Methane in Electric Resource Planning. 
  • Profiting from coal for another 18 years is unconscionable–Colorado’s coal plants should all be phased out in the next 5-7 years at the latest. 

2) Don’t “Discount” or Dump On the Next Generation

  • Xcel is discounting future costs at their cost of capital (6.53%). This has the effect of “discounting” the future–including future fuel and climate costs. That isn’t OK! The last PUC had sensitivity runs at 3% and 0% discount rates. This should be done again.
  • Xcel wants to keep profiting from their colossal mistake–the Pueblo Unit 3 coal plant (the one they call “Comanche 3”) until 2039!! It is beyond unconscionable to be profiting from coal at this stage in the climate crisis. This needs to stop. 
  • Xcel has proposed that the next generation pay off Pueblo Unit 3 through “securitization” in 2039. This is horrible thing to do to people who were in elementary school when Xcel pushed the coal plant through. Don’t “dump” on future generations in this way. Postpone the decision on “asset recovery” until there has been a full airing of all the issues. 

3) The Main Thing Standing in the Way of Faster Progress is Xcel’s Desire for Ever-More Profits in Colorado

  • Xcel had $588 million in after-tax profits in Colorado in 2020. They don’t need more profits–but of course they want them!!
  • Xcel is asking for a 12% rate increase for residential and commercial customers. Only a monopoly would ask to keep charging more for a product that keeps costing less!
  • Xcel has announced plans to spend over $9.9 billion on capital expenditures in Colorado over the next five years alone–then they expect their customers to pay that off plus profit for Xcel’s shareholders. Please stop them from spending so much money and continually driving up our rates. 

Wind, solar, storage and demand-management options are likely to be much cheaper than what Xcel is proposing–and they will obviously be cleaner!!