Public Service Company of Colorado Meets Renewable Energy Standard for 2022

Strategic Insights -

The Colorado Public Utilities Commission has issued a decision confirming that Public Service Company of Colorado (Public Service) has met the state's Renewable Energy Standard (RES) requirements for 2022. The Commission found that Public Service generated 30% of its 2022 retail electric sales from eligible energy resources, exceeding the statutory requirement. Additionally, the company demonstrated compliance with the RES through the retirement of renewable energy credits (RECs) and satisfied the requirements for renewable distributed generation.

Key Takeaways:

  • Public Service Company of Colorado (Public Service) has met the state's Renewable Energy Standard (RES) requirements for 2022, generating 30% of its 2022 retail electric sales from eligible energy resources.
  • The company demonstrated compliance with the RES through the retirement of 8,637,082 renewable energy credits (RECs) and satisfied the requirements for renewable distributed generation.
  • The Commission found that Public Service is in compliance with the RES statute and rules for 2022, and the company will continue to assess compliance requirements associated with Senate Bill (SB) 21-261 and SB 21-272 statutory changes in future RES Compliance Plans.
  • Public Service may carry forward a total of 27,895,890 RECs, which may be used to meet RES requirements in future years or for any other legal purpose.
  • The company's 2020-2021 RES Plan was approved by Decision No. C20-0289 on April 28, 2020, and was extended through 2022 by Decision No. C21-0838, issued December 30, 2021.

Statistics:

  • Public Service generated 28,790,273 MWh of retail electric sales in 2022.
  • The 30% RES requirement amounts to 8,637,082 MWh.
  • Public Service retired enough RECs to comply with all aspects of the RES for the 2022 compliance year.
  • The company satisfied the requirements for renewable distributed generation, generating 863,708 MWh from renewable distributed generation resources.

Sources:

  • Decision No. C23-0589, Before the Public Utilities Commission of the State of Colorado, September 7, 2023.
  • Rule 3662 of the Commission's RES Rules, 4 Code of Colorado Regulations (CCR) 723-3-3650, et seq.
  • Electric Resource Standards, SS 40-2-124(1)(c)(I)(C), C.R.S.
  • Senate Bill (SB) 21-261 and SB 21-272