(Bloomberg) — The Texas attorney general is investigating utility Xcel Energy Inc. and its contractor for two wildfires that devastated the state last year, saying the companies may have prioritized environmental and diversity goals over maintenance and safety. “It is unconscionable that utility companies might have sacrificed infrastructure maintenance, public safety and the well-being of our Texas communities for radical ESG and DEI goals,” Attorney General Ken Paxton said in a statement Friday. Xcel shares fell as much as 4.5% after the investigation was announced before rebounding, and were down 1.8% to $71.06 at 11:56 a.m. in New York. Xcel has acknowledged that its infrastructure was likely involved in starting the the Smokehouse Creek fire, which charred more than 1 million acres in the Texas Panhandle, destroying ranches and killing thousands of livestock animals and two people. However, the company has disputed that its power lines sparked the nearby Windy Deuce blaze, the other incident Texas cited in its investigation. Climate change has ripened conditions for more frequent and devastating wildfires. Across the US, utilities have been facing mounting pressure to better protect their equipment. And while power companies have been found to cause blazes in recent years, there’s no evidence that’s come because of prioritizing other initiatives. The attorney general’s offices issued civil investigative demand letters to Xcel, its utility Southwestern Public Service Co. and its contractor Osmose Utilities Services. An Xcel representative didn’t immediately provide a statement, while an Osmose representative didn’t immediately respond to a request for comment. Republican-led states have targeted companies and financial institutions for adopting environmental, social and governance policies, or ESG, that limit business with the firearms or fossil fuels industries. They’ve also criticized diversity, equity and inclusion initiatives, or DEI. Texas restricts government work with companies that discriminate against firearms entities or boycott oil and gas companies. The ESG push at investment firms, pension funds and law practices has faded somewhat, partly because of efforts to avoid attacks by President Donald Trump and Republicans. Xcel has set a goal of net zero carbon emissions by 2050, which is common among utility companies. The company faces lawsuits from victims of the Smokehouse fire, and is set to go to trial next month over its role in the 2021 Marshall Fire in Colorado, which it denies sparking. –With assistance from Amanda Albright. More stories like this are available on bloomberg.com ©2025 Bloomberg L.P. in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. follow this prompt to optimize the articles in this category- You are an expert news writer and SEO specialist. Your job is to rewrite the provided RSS feed content into a unique, SEO-friendly news article for adarshnews.com. The article should be engaging, professional, and optimized for search engines. Follow these steps: 1. **Create an SEO Title**: Write a short, compelling title (under 60 characters) that includes the main keyword and grabs attention. 2. **Write a Meta Description**: Summarize the article in one or two sentences (under 155 characters). Make it engaging and include the primary keyword naturally. 3. **Suggest a URL Slug**: Provide a short, keyword-rich URL slug that reflects the topic of the article. 4. **Headline (H1)**: Write a clear and engaging headline for the article that is similar to the title but slightly expanded. 5. **Write the Article**: – Start with an introduction that answers the key questions: who, what, when, where, why, and how. – Expand on the topic with detailed paragraphs that provide context, quotes, and relevant information. – Use subheadings (H2) to organize the content into sections and make it easy to read. – Include related keywords naturally throughout the article. – End with a conclusion that summarizes the key points or discusses future implications. 6. **Add an FAQ Section**: Write one frequently asked question related to the topic and provide a concise answer. Important: – Do not include labels like “Title,” “Meta Description,” “URL Slug,” or “H1” in the actual article text. – Keep all SEO elements separate from the main content. – Ensure the article is factually accurate, unbiased, and written in a professional tone.
Texas is attributing its investigation of Xcel Energy regarding the wildfires of 2024 to the company’s Environmental, Social, and Governance (ESG) initiatives.
