Texas Attorney General Sues Xcel Energy Inc. (XEL) unit over Smokehouse Creek Wildfire

Core Insights - Xcel Energy Inc. is facing a lawsuit from the Texas Attorney General over its alleged responsibility for the Smokehouse Creek wildfire, which resulted in three fatalities and over $1 billion in damages [2][3] - Following the lawsuit announcement, Xcel Energy's shares experienced a 4% decline in afternoon trading [3] - The company serves 3.8 million electric and 2.2 million natural gas customers across eight states [3] Legal Issues - The lawsuit aims to recover monetary damages for lost wildlife value and property damage, and seeks a court order for corrective actions to prevent future incidents [2] - The Texas Attorney General's office has initiated an inquiry into multiple utility companies related to the Smokehouse Creek and Windy Deuce fires, citing a failure to uphold duty of care [3] Market Reaction - Xcel Energy's stock price dropped by 4% in response to the lawsuit announcement, indicating market concerns regarding the potential financial implications of the legal action [3]