Utility Xcel Energy Inc. agreed to pay about $640 million to resolve claims that its power lines contributed to the 2021 ignition of the costliest wildfire in Colorado history.
The company said in a filing Tuesday that it reached settlements with individual property owners, public entities and insurers ahead of a trial with billions of dollars stake that was scheduled to begin this week in a Boulder County court. Xcel said it expects to recognize a $290 million charge to earnings as a result. The company isn’t admitting fault or wrongdoing in connection with the