The Colorado Public Utilities Commission (PUC) recently announced its final approval of Xcel Energy’s comprehensive 2025-2027 Colorado Wildfire Mitigation Plan (WMP). This landmark decision, reached through a unanimous and comprehensive settlement agreement joined by all intervening parties, marks a pivotal moment for grid resilience and public safety in the state. Diverse stakeholders, including the City of Boulder, Office of Utility Consumer Advocate, the City and County of Denver, Western Resource Advocates, and the Colorado Energy Consumers, participated in the proceedings, underscoring the broad consensus on the urgency and necessity of these measures.Xcel Energy’s approved plan outlines significant investments and strategic initiatives totaling approximately $1.9 billion. Key components of the WMP include the undergrounding of approximately 50 miles of power lines in high-risk areas, a critical measure to reduce ignition sources. The plan also incorporates rebates for battery energy storage systems for critical facilities and customers located within wildfire risk zones, enhancing localized energy independence and resilience during potential Public Safety Power Shutoffs (PSPS). Further infrastructure upgrades involve rebuilding major transmission lines to improve durability and safety.Beyond physical infrastructure, the WMP emphasizes technological integration and community engagement. Xcel Energy commits to enhanced reporting and providing public safety partners with access to advanced wildfire detection cameras, improving situational awareness and rapid response capabilities. Extensive community outreach and engagement initiatives are planned, particularly concerning vegetation management practices around utility infrastructure. The company will also establish a transmission and distribution pole location database and strengthen its risk assessment and mapping processes through stakeholder collaboration.The Public Safety Power Shutoff (PSPS) Plan, a crucial part of the WMP, details commitments regarding outreach and engagement with affected communities. It mandates the integration of an incident command structure and the filing of a “PSPS Playbook” to standardize response protocols. The plan also requires the identification of critical customers and facilities to prioritize enhanced communication, engagement, and restoration efforts during shutoff events.Financially, the plan outlines a clear recovery mechanism for the projected $1.9 billion budget. Transmission-related wildfire mitigation costs will be recovered via the Company’s Transmission Cost Adjustment rider. Non-transmission costs will be deferred for future recovery through a new Wildfire Mitigation Adjustment rider, which will appear as a separate line item on customer bills to ensure transparency. Public Service, an Xcel Energy operating company, has also committed to filing a financing order to securitize retail capital costs at the conclusion of the 2025-2027 plan period. This securitization step is projected to reduce ratepayer costs over the long term. While the monthly bill impact will fluctuate, it is estimated to reach approximately $9 per month towards the end of the plan period before decreasing post-securitization. A final written Decision from the PUC is anticipated by the end of August 2025.