Xcel Energy Inc. and telecom companies Qwest Corporation and Teleport Communications America have reached agreements in principle to settle all litigation related to the 2021 Marshall Fire in Colorado. The settlements, once finalized, will resolve claims brought by subrogation insurers, public entities, and individual plaintiffs. Xcel Energy expects to pay approximately $640 million under the settlement, with around $350 million covered by insurance. The company maintains that its equipment did not cause or contribute to the fire and does not admit any fault or wrongdoing as part of the resolution. The settlements are subject to final documentation and require individual plaintiffs to opt in.