2024 Colorado Just Transition Solicitation

Xcel Energy is conducting a multi-year, two-phased competitive solicitation to identify new power generation resources to replace retiring coal units and meet forecasted customer energy needs while supporting workforce and community transition. Phase 1 was completed in November 2025 when the Colorado Public Utilities Commission issued final written approval of the solicitation methodology, modeling approach, bid criteria, evaluation standards, and community and workforce transition policies.

During Phase 2, Xcel Energy will launch a Request for Proposals (RFP) in early 2026 to solicit new power generation from developers. The RFP will seek various generation resources including renewable energy (solar, wind), dispatchable generation (natural gas), battery storage (standalone and hybrid configurations), and other power generation technologies. Bidders may propose individual projects or portfolio solutions.

The solicitation will evaluate proposals based on comprehensive bid criteria that assess technical feasibility, economic value, resource adequacy contribution, transmission requirements, and alignment with Colorado's clean energy goals. Community and workforce transition support is a key evaluation component, including job creation, workforce development, and community benefits during the construction and operational phases.

The Commission will ultimately review and approve future power projects from the portfolio of bids received. All filing materials, RFP documents, bid forms, technical specifications, model power purchase agreements (PPAs), and term sheets are available through the proceeding (Proceeding No. 24A-0442E) on the Colorado Public Utilities Commission E-Filings System.