Xcel Energy hit with huge insurance premiums after deadly fires in Texas and Colorado

Facing hundreds of lawsuits in Colorado over a fire that burned more than a thousand homes, as well as lawsuits from the monster wildfire that burned a million acres in the Texas Panhandle and western Oklahoma, Xcel Energy says its insurance premiums are up nearly 400% in last year.

When the utility went before Colorado regulators with its case, it blamed climate change and the risk of wildfires for rising costs. And that means taxpayers will be the ones coughing up money to pay the bills.

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