Xcel Energy saw huge insurance premiums after deadly fires in Texas and Colorado

Xcel Energy faces hundreds of lawsuits in Colorado over a fire that burned more than a thousand homes, as well as litigation related to the devastating wildfire that burned a million acres in the Texas Panhandle and western Oklahoma. Xcel Energy says its insurance premiums rose nearly 400% last year.

When the utility took its case to Colorado regulators, it blamed rising costs on climate change and the threat of wildfires. And it means ratepayers will be the ones coughing up money to pay the bills.

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