Xcel Energy released information about the economic impact of operations in its communities in Texas and New Mexico in 2022.
According to the company, spending on supplies, fuel, equipment and construction materials, and other goods and services was about $784 million, up about $40 million from the previous year. And Xcel Energy paid about $177 million in state and local taxes and fees, with donations to area nonprofits topping $1.1 million.
The company employs 1,615 full-time employees in Texas and 253 in New Mexico.
According to Xcel Energy, the utility not only provides the electricity that powers the regional economy, but also contributes significantly to economic support through hundreds of millions of dollars spent on goods and services, as well as taxes and fees paid to state and local governments are paid.
The $784 million total in 2022 is an increase from $745 million in local spending the year before, and local governments such as school districts, cities and counties benefited from the $177 million in franchise fees and tax revenue that help fund vital services, according to a press release, impacting the quality of life in the area.
“Without the communities in which we work and the tools and materials our communities provide to get our jobs done, we would not be able to provide the service our customers deserve,” said Adrian J. Rodriguez, President from Xcel Energy – New Mexico. Texas in publication. “It is important that we maintain this important partnership as we support our shared vision of a prosperous region that provides opportunities for all.”
Xcel Energy and the Xcel Energy Foundation donated more than $1.1 million this year, much of which benefited United Way organizations throughout the region. Employees and retirees donated an additional $364,000 to area nonprofits in 2022 and donated hundreds of hours of volunteer time to charitable causes.
In addition, employees from existing companies and attracting new jobs to the region.
Xcel Energy offers an online inventory of industrial sites and buildings in the region at economicdevelopment.xcelenergy.com.
“Xcel Energy’s investments in new and upgraded lines, substations and generation facilities are coordinated with local economic development efforts and provide a major advantage to area communities as they seek to grow and retain their business and create jobs “, says the press release. “Recent investments in the distribution network in Amarillo have been cited by economic developers as key to attracting 3,000 new jobs and more than $2 billion in capital investment over the past two years.”
“It is important to us personally and as employees of the region’s leading energy company that the communities we serve thrive economically,” Rodriguez said. “Our team’s roots run deep here and we will stay here for many years to come.”
Xcel Energy operates in 96 cities and towns across a 52,000-square-mile service area that includes the Panhandle and South Plains regions of Texas and much of eastern New Mexico. The company’s high-voltage transmission network extends from southwestern Kansas across the Texas Panhandle and the South Plains to southeastern New Mexico.
Texas is served by four separate electric grids: The Electric Reliability Council of Texas (ERCOT) serves most of the state; The independent system operator Midcontinent reaches into the southeast; the Western Electricity Coordinating Council serves the southwest tip (El Paso area); and the Southwest Power Pool (SPP) serves Xcel Energy in the South Plains and Panhandle. Xcel Energy’s New Mexico region is also served by SPP.
Comments are closed.