Xcel Energy Inc. on Monday filed a settlement proposal with state regulators that one supporter said will help the state’s biggest utility improve the electric grid and save customers energy and money.

The settlement agreement focuses on Xcel’s proposal for an “advanced grid intelligence and security” upgrade, including upgrades to the utility’s (NYSE: XEL) network of meters and customers’ homes and businesses.

The Colorado Public Utilities Commission will consider the agreement at its May 16 hearing.

“If approved, this settlement agreement would be an important step forward in creating a 21st century electric grid in Colorado,” said Erin Overturf, chief energy counsel with Boulder-based Western Resource Advocates, an advocacy group that focuses on policy and conservation issues.

Read more at the Denver Business Journal: http://bit.ly/2pZRzJN