In Tolk, Texas, USA, Xcel Energy plans to stop using the coal-fired power plant by the year 2028. In addition, the company says it wants to move away from coal entirely by 2030.
An anticipated goal
In Tolk, Xcel Energy wants to move away from the coal plant in 2028, four years earlier than originally planned. The company aims to achieve 100% decarbonized electricity by 2050. In addition, the company also hopes to reduce its carbon emissions by 80% by 2030.
The Tolk power plant consists of two coal-fired steam units with a capacity of 1067MW. Xcel Energy expects, after its exit from coal, that a diversified alternative generation mix will emerge near Tolk. This production mix will include wind and solar.
A transition strategy
This proposal is part of Xcel Energy’s clean transition strategy. CEO Bob Frenzel says the company is working to provide customers with cleaner energy resources. He adds that the goal is also to save his customers money.
The Tolk Closure is expected to save Xcel Energy customers more than $70 million, according to Bob Frenzel. The company plans to continue to operate Tolk in a flexible manner. This will allow us to optimize production when natural gas prices increase.
