Press release
Xcel Energy ramps up commitment to communities, customers during COVID-19 crisis
Company also advances its carbon reduction goals, detailed in its corporate responsibility report MINNEAPOLIS--(BUSINESS WIRE)-- Xcel Energy is increasing
About this update from Xcel Energy Inc.
[{"type":"text","content":"\nCompany also advances its carbon reduction goals, detailed in its corporate responsibility report\n\n MINNEAPOLIS--(BUSINESS WIRE)--\nXcel Energy is increasing its ongoing support to customers and communities impacted by the coronavirus pandemic, while making significant strides in reaching its clean energy goals, reporting its largest ever single year reduction in carbon in 2019. Those details were released today in its annual Corporate Responsibility Report, which demonstrates how the company is meeting its community, environmental and economic commitments, while also providing COVID-19 relief.\n\n\nXcel Energy is the first major U.S. power company to announce a vision to provide 100% carbon free electricity by 2050, while keeping service reliable and customer bills low, with an interim goal of reducing emissions 80% by 2030.\n\n\n“Our customers need reliable, affordable energy they can count on to power their homes and businesses now more than ever,” said Ben Fowke, chairman and CEO of Xcel Energy. “But they also need us to continue to drive economic growth, partner with local businesses, protect the environment, and support the needs of their communities during the coronavirus pandemic. Our Corporate Responsibility Report demonstrates our ongoing commitment to them and the communities we serve.”\n\n\nSupporting local communities\nXcel Energy has a long history of supporting the communities it serves with charitable giving and paid employee volunteer time. In response to the coronavirus pandemic, the company has stepped up those efforts even more.\n\n\n\nXcel Energy and the Xcel Energy Foundation donated $1.5 million to address food insecurity and other relief efforts in the eight states it serves.\n\n\nThe company announced net proceeds from the sale of the Mankato Energy Center, expected to be more than $20 million, will support short-term and long-term corporate giving, including COVID-19 relief efforts.\n\n\nThe Xcel Energy Foundation created a matching gifts campaign that offered employees a 2-to-1 match on their donations. Within a week, that campaign generated more than $450,000 in donations for charitable organizations, including the match.\n\n\n\nXcel Energy employees volunteered nearly 82,000 hours and served on more than 500 community boards last year. Together, Xcel Energy employees, the company and its foundati...