Xcel Energy said it is ready to meet the region’s power needs this summer as Texas customers see a decrease of almost 10% from their bills in summer 2023.
“We continuously monitor weather forecasts, electricity supply projections and other factors to ensure reliability and minimize the risk of disruption for our customers during periods of peak demand,” said Adrian J. Rodriguez, president, Xcel Energy – Texas in a company news release. “We’re in a good position to meet the needs of our customers, who also stand to benefit from a billing reduction this summer because of lower costs for power plant fuel.”
The utility company’s Texas system is part of the Southwest Power Pool (SPP), which oversees the reliability of a transmission network covering all or portions of 14 states and operates a wholesale power market. The SPP marketplace facilitates the sale and purchase of electricity to ensure cost-effective power reliability, in addition to serving as the “balancing authority” responsible for balancing supply and demand – ensuring enough generation is available to reliably supply electricity now and in the future. As required by the SPP, Xcel Energy will have enough power to meet expected energy demand in the summer of 2024 plus a reserve margin of more than 15%.
“We have invested in the reliability of our system by adding new lines and substations to free up capacity to serve a growing demand for electricity, but hot weather can present unique challenges that remind us to never take anything for granted,” said Brad Baldridge, Xcel Energy director of Customer and Community Relations in Amarillo. “As part of our shared responsibility through the Southwest Power Pool, if emergency conditions arise, our customers could be asked to conserve energy or, in an extreme situation, experience controlled power outages to help reduce energy use on the larger regional grid.”
High electricity demand in the summer typically means higher bills, but electricity is less expensive this summer because of low prices for natural gas that fuels about 30% of the region’s power generating capacity. Additionally, several temporary billing surcharges on Texas bills have expired since summer 2023.
A typical Texas residential customer using 1,000 kilowatt-hours of electricity a month is paying almost 10% less than last summer. Customers can extend those savings by conserving energy and participating in the company’s energy efficiency programs. Information and tips on steps customers can take to reduce energy use and save on monthly bills is available at xcelenergy.com.
Customers can take further steps toward ongoing savings by having their homes tested for air leaks that can make cooling and heating units less efficient and more costly to operate. Area energy efficiency contractors perform the testing for Xcel Energy and make energy-saving improvements free of charge. A list of approved contractors can be accessed on the Energy Efficiency Services page at xcelenergy.com.