Xcel Energy seeks 20-year license extension for Minnesota nuclear reactor

Xcel Energy's (NASDAQ:XEL) Northern States Power has applied for a 20-year extension of the operating license for its Monticello nuclear reactor in Minnesota, the U.S. Nuclear Regulatory Commission said Friday.

The reactor is greenlighted to run through September 2030, after opening in 1971 with a 40-year permit and winning a 20-year extension in 2011.

The NRC said it plans to hold a public meeting March 22 in Monticello on the environmental review process for the extension.

The largest share of power generated in Minnesota comes from coal at 27%, with the rest coming from nuclear at 24%, wind at 24%, and natural gas at 18%; 10 year earlier, 43% of electricity generated in the state came from coal, with 23% from nuclear, 15% from wind and 13% from gas.

The extreme cost advantage of iron-air batteries will allow Xcel Energy (XEL) to meet its goal of providing 100% carbon-free electricity by 2050, Blake Downer writes in an analysis posted recently on Seeking Alpha.