Xcel Energy reaffirms 2021 EPS earnings guidance of $2.90 to $3.00.
Xcel Energy Inc. (NASDAQ: XEL) today reported 2021 first quarter GAAP and ongoing earnings of $362 million, or $0.67 per share, compared with $295 million, or $0.56 per share in the same period in 2020.
Earnings reflect higher electric and natural gas margins, which more than offset additional depreciation, interest charges and less allowance for funds used during construction (AFUDC).
“Xcel Energy had a strong first quarter and we are reaffirming our expectation to deliver earnings within our annual guidance range,” said Ben Fowke, chairman and CEO. “We are also pleased to have achieved a significant milestone, reducing carbon emission 51% from 2005 levels, bringing us more than halfway to our vision of delivering 100% carbon-free electricity to our customers by 2050.”
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GE Gas Turbines Will Replace Coal at Colorado Plant
The plan to retire the last coal-fired units at a power plant in Colorado has moved a step closer to completion, with the announcement that Colorado Springs Utilities (CSU) has chosen General Electric (GE) technology to keep the plant operating at least temporarily as a gas-fired facility.
GE on Feb. 10 announced that six of the company’s advanced 34-MW LM2500XPRESS aeroderivative gas turbine packages will be deployed at the 208-MW Martin Drake plant in downtown Colorado Springs, one of the last operating urban coal-fired plants in the U.S. It’s the first time GE will install the technology in North America.
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