Xcel Energy Inc. agreed to pay $36 million to a nuclear contracting firm that said it got stiffed by the Minneapolis-based utility on a power plant project.
The settlement with Babcock & Wilcox Nuclear Energy of Charlotte, N.C., ended litigation over the 2013-2014 replacement of steam generators at the Prairie Island nuclear power plant in Red Wing, Minn., a project that cost more than $280 million.
The companies disclosed the settlement in separate regulatory filings. They said the settlement also covered pending litigation with the project’s main contractor, Montreal-based SNC Lavalin Nuclear, which was a defendant in the case.
The $36 million is nearly $10 million less than Babcock & Wilcox says it was owed, according to an Xcel filing with Minnesota Public Utilities Commission.