Xcel Energy could stop using coal to generate electricity four years sooner than they thought.
The company said on Monday its proposed retirement of coal operations at the Tolk Generating Station near Muleshoe by 2028, rather than 2032-34.
The Tolk station has two coal-fueled steam units that have a combined capacity of 1,067 megawatts.
Xcel Energy estimates retiring coal at Tolk Station earlier than planned will save customers in Texas and New Mexico more than $70 million.
The company said it will make the proposal to New Mexico regulators this month. The proposal will go before Texas regulators in February 2023.