Tuesday, June 25, 2013

Xcel Energy still making big investments in nuclear power

As some U.S. utilities are abandoning old nuclear power plants, Xcel Energy says it’s investing $1.8 billion to extend the life of its 40-year-old Minnesota reactors.

At the company’s Prairie Island nuclear plant in Red Wing, Minn., 1,550 contract workers this fall will replace two massive steam generators — at $280 million, its single most costly improvement project. The plant was completed in 1974 at a cost of $350 million.

The Minneapolis-based utility’s other reactor, in Monticello, Minn., also is getting a $600 million upgrade that aims to keep it running safely and boost its output by nearly 13 percent.

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