June 11, 2018 – U.S. District Judge Yvette Kane issued her preliminary approval for a Class Action settlement against Stream Energy, LLC. KSG is pleased to announce that they have been appointed Interim Class Counsel in the case.
Judge Kane approved the settlement agreement reached between Plaintiff’s counsel and Defendant Stream Energy, LLC in regards to the allegations of overcharging for electricity service. With the promises of a competitive, market-based rate variable, customers were left with significantly higher bills once Stream switched their energy service from a fixed, initial rate to Stream’s variable rate plan.
Plaintiff, Steven Basile agreed to join Stream Energy after hearing of its lower rates. After about a year of service, however, Basile’s account was switched to a variable rate contract and his bills started to sky rocket. In its customer contract, Stream Energy stated that its variable rates would fluctuate based “upon the fluctuation of wholesale natural gas prices or other inputs to wholesale electric prices.” Attorneys Jonathan Shub and Kevin Laukaitis successfully demonstrated this was not the case.
A Settling Class member who was on Stream’s Variable Rate Plan at any point between June 1, 2011 and February 29, 2015 (Time Period 1) will receive payment in the amount of 5% of all amounts he or she paid to Stream for service provided under the Variable Rate Plan during Time Period 1.
A Settling Class member who was on Stream’s Variable Rate Plan at any point between March 1, 2015 and May 31, 2018 (Time Period 2) will receive payment in the amount of 2% of all amounts he or she paid to Stream for service provided under the Variable Rate Plan during Time Period 2.
The case is styled Steven Basile v. Stream Energy Pennsylvania LLC, et al., case number 1:15-cv-01518, in the U.S. District Court for the Middle District of Pennsylvania