Following the devastating 2021 Marshall Fire in Boulder County, Xcel Energy Agreed to settle for $640 million. This settlement was reached on the day before the trial was scheduled to begin, with more than 4,000 people and multiple companies carefully anticipating the outcome of the settlement. The lawyers in this lawsuit met in court on Wednesday to notify Judge Christoper Zenisek of the settlement agreement.
Gerald Singleton of Singleton Schreiber told the Denver Post, "The terms of the settlement are going to be confidential." Xcel plans to pay $350 million of the total $640 million with the funds it has remaining from insurance coverage. However, the codefendants in the suit will also contribute an undisclosed amount to the total balance of the settlement. The settlement comes at the front of a potentially complex and lengthy trial for all parties.
The civil case focused primarily on the leading cause of the fire, which was attributed to Xcel and the two telecommunications companies whose equipment was observed near the company's electrical conductors and wires. Xcel and the two telecom companies maintained non-liability.
