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."
Previous coverage on the Marshall Fire“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 longstanding commitment to supporting the communities we serve,” said Bob Frenzel, chairman, president and CEO of Xcel Energy. “We recognize that the fire and its aftermath have been difficult and painful for many, and we hope that our and the telecom defendants’ contributions in today’s settlement can bring some closure for the community.”
Fires cause the most destructive wildfire in Colorado history
This comes after the Marshall Fire sparked in late December of 2021, burning more than 6,000 acres, destroying 1,084 residential structures in Boulder County and seven commercial structures. Two people and more than a thousand pets were killed in the fire. In total, the fire caused an estimated loss of more than $2 billion.
In 2023, the Boulder County Sheriff’s Office said two separate wildfires caused the Marshall Fire, which included the reignition of an extinguished residential burn on property owned by the religious group Twelve Tribes, combined with a second fire likely caused by a damaged Xcel power line.
Survivors of Marshall Fire urge elected leaders to stand up to insurersIn 2023, more than two dozen people filed a lawsuit against Xcel, stating that the company’s power lines and equipment were a “substantial factor in the cause, origin, and continuation of the deadly Marshall Fire.” Meanwhile, more than 150 insurance companies filed a lawsuit against Xcel as well.
In 2023, Xcel disputed the suggestion that its powerlines caused the second ignition and pointed to the area with underground coal fire activity, which investigators said they could not rule out as a factor. On Wednesday, Xcel still disputed the claims that the second ignition was started by its equipment.
Xcel has now agreed to pay approximately $640 million, with about $350 million funded by its remaining insurance coverage. The agreement is still subject to final documents, according to Xcel.
Xcel said it also developed a strategy to reduce wildfire risk with a "2025-2027 Wildfire Mitigation Plan" that includes investments in system resilience, improved situational awareness of high-risk fire scenarios, enhanced operations and maintenance practices.
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