Overview

• Xcel, Qwest Corporation and Teleport Communications America said the agreement in principle would resolve claims by individual plaintiffs, public entities and nearly 200 insurers, subject to final documentation.
• The companies expect total payments of about $640 million, with Xcel saying roughly $350 million would be funded by its remaining insurance coverage.
• Defendants stated the settlement includes no admission of fault, wrongdoing or negligence, and Xcel continues to maintain its equipment did not cause the ignition at issue.
• The consolidated civil case combined more than 300 lawsuits representing about 4,000 plaintiffs over a disaster that destroyed more than 1,000 structures and produced roughly $2 billion in losses.
• Investigators previously concluded the fire began from two separate ignitions and identified hot particles from Xcel power lines as the most probable source of the Trailhead start, while prosecutors declined criminal charges.