Xcel Energy has agreed to pay about $640 million to settle claims connected to the 2021 Marshall Fire, the most destructive wildfire in Colorado history.
The fire burned more than 6,000 acres in Boulder County, destroying over 1,000 homes in Superior, Louisville, and unincorporated areas, with losses estimated at $2 billion.
While Xcel denies any responsibility for the fire, the company said the settlement will resolve all outstanding claims. The utility emphasized that the agreement does not represent an admission of fault or wrongdoing.
In the wake of the Marshall Fire, Xcel has rolled out new wildfire prevention measures, including 21 AI-powered fire detection cameras, targeted undergrounding of power lines, and enhanced line safety protocols.
