Boulder authorizes purchase of Xcel assets

The Boulder City Council has authorized the purchase of Xcel Energy’s assets as it moves toward creating a municipal electric utility.

The plan approved Tuesday requires the utility to offer more renewable energy than Xcel at similar or lower rates.

According to the Boulder Daily Camera, the vote gives city officials the authority they need to start negotiations with Xcel to purchase the poles and wires that distribute electricity around Boulder, six substations and a high-voltage transmission line that circles the city.