Lawsuit accuses utilities of jacking up natural gas prices

Published on Sunday, 19 November 2017 21:36
Written by

Byt The Associated Press

BOSTON (AP) - A class-action lawsuit has accused two utilities of conspiring to drive up energy costs in New England in a multi-year scheme that affected millions of customers.

The lawsuit filed this week in Boston federal court alleges Eversource Energy and Avangrid Inc. used their market power to “unlawfully jack up” consumer electric bills, according to a statement from attorney Tom Sobol, of the law firm Hagens Berman Sobol Shapiro LLP. Court records show 12 people are listed as plaintiffs.

The suit seeks $3.6 billion in damages- the amount it claims customers were overcharged. It accuses the utilities of manipulating the amount of natural gas available to power plants by reserving more than they needed from 2013 to 2016. The scheme raised electric prices by at least 20 percent for New England residents, affecting 7.1 million electricity customers.

Posted in The Bristol Press, General Business, on Sunday, 19 November 2017 21:36. Updated: Sunday, 19 November 2017 21:38.