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Xcel Energy will pay $640M to settle claims from Denver-area wildfire that burned 1,000 structures
Minneapolis-based Xcel Energy said Wednesday it expects to pay about $640 million to settle lawsuits alleging it was responsible for starting Colorado’s most destructive wildfire that killed two people and destroyed nearly 1,000 homes in 2021.
DENVER (AP) — Xcel Energy expects to pay about $640 million to settle lawsuits alleging it was responsible for starting Colorado’s most destructive wildfire that killed two people and destroyed nearly 1,000 homes in 2021, the company said Wednesday. The announcement came as jury selection was set to begin Thursday in a two-month trial combining lawsuits brought by homeowners and insurers over the fire in the heavily populated suburbs between Denver and Boulder. As global warming makes wildfires worse in the western U.S., utilities in the region have spent billions of dollars in recent years on insurance costs and trying to upgrade old equipment to reduce the chances of accidentally igniting a blaze.
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