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Xcel Energy Submits IRP to Provide Path to Achieve 100 Percent Carbon-free Energy by 2050

LCG, July 9, 2019--Northern States Power Company, doing business as Xcel Energy, submitted its 2020-2034 Upper Midwest Integrated Resource Plan (IRP) to the Minnesota Public Utilities Commission on July 1. Xcel Energy (Xcel) states that the IRP "charts the path toward achieving some of the most ambitious carbon reduction goals of any utility in the U.S. Specifically - we aim to reduce carbon emissions 80 percent by 2030, and provide 100 percent carbon-free energy by 2050."

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Interest in Eastern Offshore Wind Projects Rising

LCG, July 5, 2019--Two bills were introduced in the U.S. Senate last week to extend the federal Investment Tax Credit (ITC) for offshore wind energy. Federal subsidies, together with offshore wind technology advances and states' plans to increase renewables, may spur rapid investments in offshore wind.

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Press Release

Future of Natural Gas-fired Generation in the Electric Sector


LCG, July 24, 2018 -- A bright future for natural gas-fired generation in the electric sector is encountering complications from competing generation. The U.S. is in an extended period of natural gas oversupply, enabled by technologies of “fracking”. Yet a turn to natural gas in the power sector is facing disruptive penetration from wind and solar. An article prepared June 30, 2018 for a committee within the American Association of Petroleum Geologists addresses principal developments in energy over the past 18 months. Changes in electric generation in Texas and California have been particularly dramatic, reflecting shifts in coal, natural gas and wind generation in Texas and natural gas, hydroelectric and solar generation in California. LCG Consulting’s May 2018 report for Lawrence Berkeley National Laboratory on variable renewable energy was used to illustrate changes that could occur in the future and the dilemma they pose for natural gas.

Article reference: "Energy Economics and Technology Report -- Battles of Titans: Permian vs Northeast, Coal vs Natural Gas vs Renewables", by Jeremy Platt, John Dean and Stephen L. Thumb, June 30, 2018.

Additional topics addressed in the article are the scale of surging US oil and natural gas production, where the Permian Basin has become a major focus; the scale of wind, solar and battery technology improvements; price uplift occurring in international coal markets; and a scenario of higher priced oil. Uncertain and unresolved policy and geopolitical risks are also addressed, in particular trade wars and measures to support uneconomic coal and nuclear plants.

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