Xcel makes plans to create transmission company

Xcel Energy plans transmission company Texas New Mexico

Xcel Energy Inc. (NYSE: XEL) executives said Wednesday the company plans to create a transmission subsidiary to build high-voltage lines, according to a report from the Minneapolis Star Tribune.

Xcel plans to create the subsidiary in 2014 and could potentially use it to develop $650 million in power lines in and near its Texas and New Mexico service areas, the Star Tribune reported.

Teresa Mogensen, Xcel’s vice president for transmission, said the company plans to make investments in transmission of nearly $1 billion annual for the next three years. Morgensen also told the Star Tribune the transmission company will rely on existing Xcel Energy employees and will be mainly used for developing and financing projects.

Read more new business news

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...