This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Xcel Slammed For Response To Fatal Tunnel Fire

P. SOLOMON BANDA

DENVER (AP) â¿¿ The U.S. Chemical Safety Board slammed Xcel Energy Inc. on Monday for the company's handling of the aftermath of a tunnel fire that killed five workers at a hydroelectric plant, as well as for a host of "troubling episodes."

The board cited the electric and gas utility's failure to cooperate in the agency's probe, and said that investigators had to turn to the the U.S. Attorney's Office Civil Division in Denver to compel the company to turn over information.

"Xcel Energy believes it has always cooperated and acted responsibly and continues to be fully committed to safety as a core value and an operational priority," the company said in a statement.

The board, an independent federal agency that investigates serious chemical accidents and makes safety recommendations, plans to release its final report and recommendations on Wednesday.

That report comes about two weeks after Xcel decided to release a draft version after initially trying to block it. The company feared it would be released close to the criminal trial in the case, possibly influencing jurors.

Xcel, contractor RPI Coating, and RPI executives Philippe Goutagny and James Thompson each are charged with violating U.S. Occupational Safety and Health Administration standards. They're expected to go on trial next year.

The safety board said the report wasn't complete that it had instructed Xcel to keep the draft confidential.

Xcel also said it wanted to release the draft report because the company wanted to show that the board excluded findings of a gap in OSHA standards.

Xcel and the board are at odds over whether OSHA regulations were sufficient or clear enough to ensure worker safety. The board says the utility should have had a specially trained rescue crew on-hand in emergencies, rather than calling 911 as directed by Xcel's plan.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
EGAS $10.05 -0.40%
XEL $34.10 0.41%
AAPL $127.72 -0.95%
FB $78.25 -0.94%
GOOG $537.97 0.01%

Markets

DOW 18,061.68 -8.72 -0.05%
S&P 500 2,114.49 +6.20 0.29%
NASDAQ 5,016.9290 +11.5380 0.23%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs