Xcel Energy 2013 Annual Report Download - page 4
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On time and on budget, this project is part of an integrity
management plan to improve public safety and reduce
operating risk. A similar effort is on time and on budget
in downtown St. Paul, Minn.
Results on the generating side of our business were
equally strong. In Texas, we added a fourth unit to our
natural gas-fired Jones generating station to meet growing
electric demand in the area. That unit not only came in on time
but substantially below our market estimate. Also on time
and on budget is our Clean Air Clean Jobs effort in Colorado
to retire coal-fired plants, replace some of them with
natural gas and add advanced emission controls to others.
At our Monticello nuclear plant in Minnesota, we completed
a six-year project that replaced the majority of the plant’s
significant equipment. The final cost of the project was
higher than anticipated because of design and scope changes,
delays in the licensing process and installation complexities.
But today Monticello is essentially a new facility, producing
higher output levels for customers and ready to operate to
the end of its license period in 2030.
The same readiness is true for our two-unit Prairie Island
nuclear plant. In 2013, we replaced steam generators on unit
2 and both units are ready to operate through 2033 and 2034,
respectively. We expect our nuclear costs in general will
stabilize and begin to decline after 2014, with both facilities
safer, more reliable and more efficient than ever before.
While managing complex construction projects well is vital
to our future, we are equally committed to excellence in our
day-to-day operations. At our power plants, for example,
we’ve taken a one-fleet, centralized approach that has
reduced unplanned outages by 40 percent, while substantially
reducing operating and maintenance cost increases. Improving
performance while managing our costs is a top priority for us,
and we are working to apply these results to other parts of our
business as well.
Likewise, our safety results are another measure of our
drive to excellence. In 2013, we had the lowest number of
employee injuries in our history. That represents a 16 percent
improvement in our OSHA safety incident rate compared with
2012 results and more than 40 percent improvement over the