MINNEAPOLIS (Jan. 23, 2023) – Xcel Energy has formally applied to extend its operating license at the Monticello Nuclear Generating Plant through the year 2050, supporting the transition to clean energy generation through nuclear power’s unique combination of “always-on” reliability, affordability and zero emissions.
The company sent the U.S. Nuclear Regulatory Commission its application for a subsequent, or second, extended operating license earlier this month. The move reconfirms the foundational role nuclear energy will play in Xcel Energy’s plans to deliver reliable, affordable energy on its way to providing 100% carbon-free electricity by 2050.
“Our nuclear plants deliver the always-on electricity our customers depend on through the summer’s heat and winter’s cold,” said Chris Clark, president, Xcel Energy–Minnesota, North Dakota and South Dakota. “Today they generate about half of the carbon-free energy we provide to our Upper Midwest customers. By applying to continue operations at the Monticello plant, we are renewing our investment and commitment to Monticello and the surrounding region.”
Recognizing the important role the plant plays in the state’s long-term energy plans, Xcel Energy signaled its intent to extend the Monticello plant’s operating license by 20 years in its state-approved 2019 resource plan. That plan currently calls for Monticello to operate until at least 2040, or 10 years beyond its current license.
The over-2,000-page license extension application with the NRC begins a nearly two-year process in which the nation’s nuclear energy regulator will conduct numerous inspections, audits, and reviews of all technical aspects of the plant to ensure it meets or exceeds standards for safety, environmental impact, and other considerations.
In submitting the application for subsequent license renewal, the Monticello Nuclear Generating Plant becomes one of eight plants nationwide — and the only single-unit boiling water reactor — to apply for a license amendment beyond 60 operating years. In addition to continual safe and reliable operation, the Monticello Nuclear Generating Plant has improved its efficiency in recent years, reducing its operating costs by more than 30% since 2013.
After 50 years of operations, the plant holds a significant role in the regional community and economy. In addition to generating electricity for over 500,000 homes, the plant is also Monticello’s largest employer and local taxpayer.
“I am proud of the years of hard work and dedication our team in Monticello has invested to assure our plant is safe, reliable, and cost-competitive — while also providing high-quality jobs to members of our local community over the long-term,” said Christopher Domingos, site vice president of the Monticello plant and its Red Wing counterpart, the Prairie Island Nuclear Generating Plant.
Together, the Monticello and Prairie Island plants provide more than 30% of the electricity Xcel Energy customers use in the Upper Midwest. In 2022, the two generating plants together produced nearly 14,700 gigawatt hours of energy, a record for the sites.
Learn more about Xcel Energy’s two nuclear generating plants.
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About Xcel Energy
Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.
