On March 20 of 2018, Xcel Energy lobbyists introduced a bill allowing the energy utility to cut corners on the process that assures customer protections for the costs of nuclear power plant retrofits. Four years ago, mismanagement by Xcel ballooned the cost of their Monticello nuclear plant project by $428 Million over their initial $320 million estimate. Public regulators stepped in and prevented Xcel from using the cost overruns to profit off of customers.
This year’s bill, HF 3708, tries to write into law assured profit for Xcel shareholders no matter the cost to energy users or the need for the retrofits, essentially giving the utility a blank check to pay for nuclear costs (watch and share our short parody video: "If Xcel Ads Were Honest"!) A blank check that customers would be forced to pay for.
Tell your legislator not to support Xcel's bill that rewards shareholders at the expense of customers: