Xcel Energy (XEL) Wind Power Settlement Considered

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09:13:57 am on January 15, 2009

A judge is considering a $2.6 million settlement offer from Xcel Energy over regulators concerns that Xcel may have overbilled consumers for its wind energy program, Windsource. Through the Windsource program, 47,000 Xcel Energy customers pay extra to Xcel to support the generation of wind power. What was the problem with the program? According to KJCT8.com,

Staff of the Colorado Public Utilities Commission contend Xcel sold credits from 2005 to 2007 for more wind energy than it actually produced at wind farms in the Windsource program.

Under a settlement presented to an administrative law judge Tuesday, Xcel would provide $1.6 million to lower fees for Windsource subscribers this year and $1 million would go toward buying renewable-energy credits.

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