E-M:/ Xcel to Disclose Global Warming Risks

["Anne Woiwode" <Anne.Woiwode@sierraclub.org>]

This is an important development that could be a precedent for Michigan facilities!

 

Anne Woiwode, State Director

Sierra Club Michigan Chapter

(517) 484-2372

 

Xcel to Disclose Global Warming Risks

 

By THE ASSOCIATED PRESS

Published: August 27, 2008

ALBANY, N.Y. — The New York attorney general Andrew Cuomo said Thursday that the power company, Xcel Energy, had agreed to disclose risks to investors from its stake in coal-burning power plants and any related liability from global warming, lawsuits and new regulations or laws.

Coal plants can significantly contribute to climate change, Mr. Cuomo said “and investors have the right to know all the associated risks.”

Mr. Cuomo has been investigating Xcel, the AES Corporation, Dominion Resources, Dynegy and the Peabody Energy Corporation. On Wednesday, he said that the Xcel agreement would set a precedent. A Cuomo spokesman Alex Detrick said that negotiations were under way with the other four companies.

The Xcel president Richard C. Kelly said the company already reports on plant emissions and now will provide more detail.

 

 

http://www.nytimes.com/2008/08/28/business/28energy.html?_r=1&hp&oref=slogin