BOULDER MUNI COULD DELIVER 89% RENEWABLES AND SAVE $40 MILLION A YEAR

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Here are the simple facts: we’ll have more debt with Xcel than with Community Power.

  • Xcel plans capital expenditures of $7 billion 2019-2023.
  • Current Xcel equity and debt totals approximately $7 billion.
  • Total Xcel debt and equity will be approximately $14 billion
  • Boulder’s share of that total (4%) would be $560 million.
  • Boulder’s Muni will not require that much debt.
  • Xcel’s weighted average cost of capital is 7.6%
  • Boulder’s cost of capital will likely be well below 6%

The bottom line: staying with Xcel will include more debt at a higher cost of capital than if we move to local power.

* Data from Xcel Energy presentation at Barclays Conference, December 3-4, 2019. Facts are for Xcel in Colorado in 2023. See the Link.

 

Think there’s no difference between Xcel and Local Power? Think again.

Read Chris Hoffman’s Daily Camera Opinion Piece.

Power Supply Costs

Power Supply Source 1-Year Average Energy Capacity Cost
($/MWh)
Percent renewables Average Annual Cost for Power Supply
Xcel Energy $68.28 53% $123.6M
Boulder Local Power Contracts $45.54 89% $83.9M

Cost structures may vary, but in general the cost of power is at least 50% of the rate you pay.

Indicative Pricing confirms major suppliers willing to sign contracts.

Responding to Boulder’s 2018 Request For Indicative Pricing (RFIP), major energy suppliers have offered proposals that could supply Boulder with 89% renewable electricity in the year 2024 at a cost $40 million lower than Xcel. By comparison, Xcel is predicted to be delivering 53% renewable electricity by that year.

Voters Deliver Muni Victory

Boulder voters approved a small tax increase that will finance continued work on a municipal electric utility and determine the cost. In a process that should take two to three years, legal and engineering details are taking shape. Empower Our Future and New Era Colorado worked hard to educate voters about what community-owned power could mean for Boulder.

“Municipalization, more important now than ever”

An editorial by Joel Dyer, Boulder Weekly, October 12, 2017

Read the Article


Bill McKibben Endorses 2L

Watch the Video

Busting Myths About Public Power

Boulder’s efforts to create a municipal utility is a complex process both legally and technically. Unfortunately that has given rise to a lot of myths, inaccuracies, and distortions.

Get the Truth!

PUC Creates “Path Forward” for Boulder utility

Colorado Public Utilities Commission (PUC) approved a partial list of Xcel assets that Boulder could use in a future condemnation proceeding. Ordering Xcel Energy to work “in good faith” with the city, the PUC gave the parties 90 days to produce agreements.

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Boulder is looking into local power for very good reasons.

With a publicly owned electric utility, we can choose to invest to reduce CO2 pollution much faster than  Xcel, which needs to reward its shareholders with profits. Public power will enable local decision making. We’ll have the flexibility to pursue clean energy innovation and entrepreneurship, and reap new benefits for the Boulder business community.

 

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Where does our electricity come from?

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The financial benefits are looking better all the time

While Xcel’s rates continue to go up, the costs for wind and solar are dropping faster than our most optimistic expectations. Therefore, though final numbers can't be determined until after Boulder knows the separation costs, the financial benefits will very likely be much greater than shown in the original analysis.

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Boulder is part of a worldwide movement.

A new world energy economy is emerging. Spurred on by the stick of climate change and the carrot of saving money, countries, states, cities, and companies around the world are moving toward renewable energy.

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Empower our Future is a coalition of organizations and individuals in support of clean energy for Boulder. The residents of Boulder have voted 4 times to move forward toward municipalization. Let’s not let the nay-sayers block our efforts to switch to renewables and control our electricity.