03:11 PM EDT, 09/24/2025 (MT Newswires) -- Xcel Energy ( XEL ) said Wednesday it has reached agreements in principle with Qwest and Teleport Communications America to settle all litigation related to the 2021 Marshall Fire.

The company expects to pay about $640 million under the settlements, with approximately $350 million covered by insurance and no costs passed to customers.

The agreements cover claims from subrogation insurers, public entities, and individual plaintiffs, and remain subject to final documentation.

Xcel reiterated that its equipment did not cause or contribute to the fire.

Shares closed up about 5% on Wednesday.

Price: 76.86, Change: +3.82, Percent Change: +5.23