Xcel Energy has agreed to a $640 million settlement regarding the devastating 2021 Colorado wildfire that resulted in two fatalities and the destruction of nearly 1,000 homes. While the company maintains it is not at fault, this agreement resolves claims from hundreds of victims, insurers, and governmental entities affected by the disaster. The wildfire, which caused an estimated $2 billion in damages, has been linked to a sparking Xcel Energy power line, exacerbated by severe drought conditions and high winds prevalent at the time.