Two utility companies, Eversource Energy and Avangrid, Inc. are accused of driving up energy costs in New England from 2013-2016. Earlier lawsuits previously filed claimed that the ongoing energy market manipulation scheme was for corporate gain. The scheme centered on Eversource and Avangrid reserving more energy than they needed; thereby, manipulating the amount of natural gas available to power plants. The outcome—of the greedy and massive market manipulation—raised electric prices by at least 20 percent for 7.1 million customers.
More About Electricity Market Manipulation
Each U.S.-based electricity market is designed to satisfy consumers’ demand for electricity at the minimum cost. Participants generate, sell, buy and consume energy. Not since California’s Enron scandal in 2001 have American energy markets be manipulated to this extent. Enron sold its electricity across state boundaries and then resold it back into California at higher prices. Both that scandal and New England’s energy market scandal are about corporate greed at the mercy of everyday, hard-working electricity consumers.
Consumer protection attorneys with Kohn, Swift & Graf spend their days fighting the fight for everyday consumers. We file class action lawsuits that put an end to unlawful practices such as this. If you or someone you know are a New England residence and think you have been financially overcharged for electricity, please contact us. Initial consultations are free.
Eversource is headquartered in Boston and Hartford. Avangrid is based in New-Haven and owns many electric utility subsidiaries throughout New England.