Xcel plans for multistate power lines

Source: David Shaffer, Minneapolis Star Tribune • Posted: Tuesday, August 5, 2014

Xcel Energy Inc. announced Thursday the creation of two subsidiaries to pursue multistate transmission projects that would serve multiple utilities.

Chief Executive Ben Fowke said Xcel Energy Transmission Development Co. will focus on the Midwest and that Xcel Energy Southwest Transmission Co. will pursue Southwest projects.

“We’ve got a track record of delivering transmission projects at a price point that I haven’t seen anybody else match,” Fowke said during a conference call with utility analysts.

The Federal Energy Regulatory Commission sets the rates utilities pay for use of this interstate transmission, often offering higher authorized returns than when states set them.

The company will file with regulators later this year, Fowke said, and start bidding on transmission projects next year (David Shaffer, Minneapolis Star Tribune, July 31)