Xcel Energy to Pay $640 Million Settlement for Marshall Fire

Xcel Energy Inc. is a major U.S. regulated electric and natural gas utility company headquartered in Minneapolis, Minnesota, serving approximately 3.7 million electricity customers and 2.1 million natural gas customers across the Midwest and Western United States[2][7]. The company was officially established in 1909, originally formed through the consolidation of several smaller regional energy providers, including Northern States Power Company (NSP), Public Service Company of Colorado (PSCo), and Southwestern Public Service (SPS)[1][2][3]. These entities date back to the early 1900s, with roots such as the Washington County Light & Power Co. in 1909 and the Roswell Electric Light Co. in 1904[2][3]. Xcel Energy grew through mergers and infrastructure investments, notably the 1995 merger of Northern States Power with New Century Energies, which created the company under its current name in 2000[1][6]. Over the decades, Xcel expanded its service territory across Minnesota, Wisconsin, North Dakota, South Dakota, Colorado, and other Western states, investing heavily in power plants and transmission networks[1][2][5]. A key aspect of Xcel Energy’s evolution is its strong commitment to renewable energy. Since building its first wind turbine in 1982, the company has become the largest wind power producer in the U.S., setting world records in wind-generated electricity and providing over 500 MW of hydroelectric power[4][8]. Its Windsource program, launched in 1998, allows customers to choose renewable energy for their electricity needs, reflecting its focus on sustainability and reducing carbon emissions[4][5]. Xcel Energy is also active in corporate social responsibility, investing millions in education, economic sustainability, environmental causes, arts, culture, and disaster relief[4]. Under the leadership of CEO Ben Fowke, the company continues to prioritize clean energy innovation and community engagement while maintaining reliable utility service