Facing hundreds of lawsuits in Colorado over a fire that burned more than a thousand homes as well as litigation from the monster wildfire that burned a million acres in the Texas Panhandle and western Oklahoma, Xcel Energy says its insurance premiums have soared nearly 400% in the past year.
As the utililty went before Colorado regulators with its case, it blamed climate change and wildfire risk for rising costs. And it means ratepayers will be the ones coughing up money to pay the bills.
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