Xcel Energy: Comanche 3 Achieves Commercial Operation; Approvals Granted for Minnesota Transmission Project

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Researched by Industrial Info Resources (Sugar Land, Texas)--Xcel Energy (NYSE:XEL) (Minneapolis, Minnesota) reported strong earnings results for the company's second quarter of the 2010 fiscal year. Net income was $140 million, up 20% from the same quarter of the previous year.

Xcel President and Chief Operating Officer Benjamin Fowke III discussed progress made during the quarter on some of the company's significant projects, including the company's new coal- and gas-fired Unit 3 at the Comanche Power Station in Pueblo, Colorado. "In Colorado, I'm pleased to report that Comanche 3 went into service in May and achieved commercial operation earlier this month. This plant is certified at 802 net megawatts, which is above the expected output of 750 megawatts." The project involved adding a Mitsubishi Heavy Industries steam turbine/generator and Alstom coal- and gas-fired boiler at the facility. Completion of the project, which began construction in November 2005, represents a significant achievement for the company.

Speaking of Minnesota's CapX2020 electrical transmission plan, which involves Xcel and 10 other Minnesota-based utilities, Fowkes said: "I'm also pleased to note that we continue to make solid progress on our CapX2020 electrical transmission project, with construction now under way at our Monticello substation. In July, we received two of the five route permits needed in Minnesota for the project. The Minnesota commission approved our application for the first segment of the Fargo line and for all but one section of the Brookings line, associated with a river crossing. We believe that we'll be able to reach an agreement regarding this section soon."

CapX2020 is a venture of 11 utilities in Minnesota that involves the installation of hundreds of miles of transmission lines to meet increased power demand in the state. Xcel is developing two major sections of the overall project. One of Xcel's electrical transmission routes runs from Fargo, North Dakota, to St. Cloud and Monticello in Minnesota. A 28-mile segment of the transmission line will run from the existing Monticello substation to a new substation near St. Cloud. Permission was granted for the 28-mile segment in May, and construction should begin later this year, with a targeted in-service date of spring 2010.

Industrial Info is tracking 58 Xcel projects with combined total investment values of more than $2.4 billion, details of which can be found in our North American Industrial Database.

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