Xcel Energy to sell Michigan gas and electric operations (XEL:NASDAQ)

Xcel Energy (XEL) is selling its Michigan operations to SEMCO and UPPCO. SEMCO will take over 6,000 natural gas customers, while UPPCO will handle 9,000 electric customers. Both companies assure no service interruption or billing changes. Regulatory approval is expected in six to eight months, according to UPPCO's business development director.

Texas PUC approved Southwestern Public Service Company's (SPS) plan to close its Tolk coal plant by early 2029 and replace it with 1,100 MW wind, 322 MW battery storage, and 189 MW solar, saving water and reducing costs. SPS, owned by Xcel Energy, aims to power 375,000 homes in Texas and New Mexico. The decision follows agreements with Sierra Club and regulatory approvals in New Mexico.

The U.S. Department of Energy plans to award $250 million to Colorado and Xcel Energy to enhance the electricity grid, part of a $1.2 billion project. The funds will upgrade transmission lines and substations, aiming to increase electricity flow into Colorado and lower costs. Xcel expects rising demand in the 2030s and plans billions in upgrades. The project is part of a larger $1.9 billion DOE initiative across 26 states.

Colorado will receive $250 million to improve electricity transmission links between Eastern and Western grids, part of a $1.9 billion federal initiative. The project, involving Xcel Energy, aims to triple capacity from 210 MW to 700 MW, enhancing reliability and resilience. Funds come from the Infrastructure Investment and Jobs Act, with Xcel matching 80% of the cost.

Colorado's Energy Office and Xcel Energy Services Inc. will receive $250M from the U.S. Department of Energy to upgrade the Colorado-Texas electric grid connection, aiming to improve reliability and lower costs. The $1.2B project will increase electricity transfer capacity and create jobs, with funding from the Infrastructure Investment and Jobs Act.

Colorado received a $250M federal grant for an Xcel Energy project to upgrade a transmission corridor, connecting western states to Texas. The grant, part of a $1.9B DOE initiative, will fund 20% of the $1.2B project, aiming to triple electricity transmission capacity. Xcel Energy customers may see a $5 monthly bill increase for power supply upgrades.