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Public utilities

Public Service Company of Colorado Meets Renewable Energy Standard for 2023

Strategic Insights

— 1 min read

Public Service Company of Colorado, a prominent utility provider in the state, has successfully met the 2023 Renewable Energy Standard (RES) requirements set by the Colorado Public Utilities Commission. The decision, issued on December 5, 2024, found that the company complied with the RES rules and regulations, including its distributed generation requirements, for the 2023 compliance year. This marks a significant milestone for Public Service, as it demonstrates the company's commitment to using renewable energy sources and reducing its carbon footprint.

Key Takeaways:

  • Public Service Company of Colorado has met the 2023 Renewable Energy Standard (RES) requirements, demonstrating compliance with the RES rules and regulations.
  • The company retired sufficient renewable energy credits (RECs) to comply with all aspects of the RES for the 2023 compliance year, with a total of 8,410,829 MWh of electricity generated from eligible energy resources.
  • Public Service satisfied the requirement of retiring renewable distributed generation (DG) resources, with at least one-half of the required amount coming from retail DG resources.
  • The company will carry forward 30,540,146 RECs in the 2023 compliance year, consistent with the 2023 RES Compliance Report and Staff's analysis.
  • The Commission Orders That: Public Service Company of Colorado is in compliance with the Renewable Energy Standard for the 2023 compliance year, and the company shall carry forward the renewable energy credits in excess of those used to demonstrate compliance with the RES in 2023.

Statistics:

  • Public Service's retail sales for 2023 were 28,036,096 MWh.
  • The 30 percent of RES requirement is 8,410,829 MWh.
  • Public Service was required to generate three percent of its retail electric sales--amounting to 841,083 MWh--from renewable DG resources.
  • At least one-half of the three percent requirement--420,541 MWh--must come from retail DG resources.
  • The company retired a minimum of 8,410,829 RECs for the 2023 compliance year.
  • Public Service satisfied the requirement of retiring renewable DG resources, with at least one-half of the required amount coming from retail DG resources.

Sources:

  • "Decision No. C24-0891 BEFORE THE PUBLIC UTILITIES COMMISSION OF THE STATE OF COLORADO" (December 5, 2024)
  • "2023 Renewable Energy Compliance Report" (May 31, 2024)
  • "Rule 3662 of the Commission's RES Rules, 4 Code of Colorado Regulations ("CCR") 723-3-3650, et seq."
  • "Electric Resource Standards of the Colorado Renewable Energy Standards (SS 40-2-124(1)(c)(I)(C), C.R.S.)"

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