DENVER — Xcel Energy is gaining support for its $5 billion plan to upgrade the system that delivers power to homes and businesses, which is making its way through the approval process with the Public Utilities Commission.

The Metro Mayors Caucus, which represents 38 cities across the Denver metro region, sent a letter to the PUC on Tuesday, throwing its support behind Xcel’s Distribution System Plan. The caucus cited economic growth and clean energy as reasons for approving the plan.

The letter said if the plan is not approved, Colorado faces future grid reliability risks, higher consumer costs and the loss of potential large employers.

“Competitor states such as Texas, Utah, Arizona, and North Carolina are actively building capacity to win these projects," the letter reads. "Lost oppor

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