EATON — Eaton and Xcel Energy Inc. (Nasdaq: XEL) have reached a settlement in a dispute over placement of a substation and the potential electromagnetic field radiation that could result.

The town denied a special-use permit in March, which resulted in a lawsuit filed in Weld County District Court and a filing with the Public Utilities Commission.

In a statement Friday, Wesley LaVanchy, Eaton interim town administrator, said the town determined that it was unlikely to win in the long term and that compromises offered by Xcel were in the best interests of the town.

“This is a less than ideal position for the town and the residents with well-meaning people on both sides of the contested issues,” LaVanchy said. “We are trying to make the best of where we find ourselves. The likelihood of the town prevailing at both the court and the commission is remote, and there is no need to spend additional taxpayer money on this effort. We believe the comprehensive settlement offers the best path forward with required reporting and park-mitigation efforts.

“In addition, the new upgrades from Xcel will reduce power outages for residences, businesses and schools and will modernize Eaton’s electrical grid for current and future generations.” 

Terms of the settlement agreement, as included in a press statement, included:

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