By Minneapolis / St. Paul Business Journal

Xcel Energy Inc. has spent about $450,000 campaigning against a ballot proposal that would create a municipal power utility in Boulder, Colo., according to a media report.

Meanwhile, supporters of the proposal, which would oust Minneapolis-based Xcel (NYSE: XEL) as the city's electric provider, have spent about $41,000 on their effort to pass the proposal, the Daily Camera newspaper reported. A Boulder city official said it's by far the most money ever spent in the city on any ballot issue.

> Click here to read the Daily Camera's story.

Talks between the utility and the city over a new 20-year agreement broke down earlier this year, as the city decided to ask voters if they would prefer a city-operated utility.

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