DENVER (KDVR) — Xcel Energy has agreed to pay approximately $640 million in settlements after claims that its power lines and equipment caused part of the Marshall Fire in 2021, the most destructive wildfire in Colorado history.

On Wednesday, Xcel announced that it has reached an agreement in principle to resolve the litigation with Qwest Corporation and Teleport Communications America, LLC in relation to the wildfire, although the energy provider said it doesn't admit "fault, wrongdoing or negligence."

“Despite our conviction that PSCo equipment did not cause the Marshall Fire or plaintiffs’ damages, we have always been open to a resolution that properly accounts for the strong defenses we have to these claims. In resolving all liability from the claims, this settlement reinforces our l

See Full Page