A US Court of Appeals in San Francisco has reversed a lower court’s previous ruling that dismissed allegations against several electric companies, reinstating a group of lawsuits accused of price-fixing during California’s energy crisis. Duke Energy Corp., CMS Energy Corp., and other giants in the energy market were freed from allegations that they manipulated prices from 2000 to 2002. The case has been revived, however, as the appeals court has ruled that the US Natural Gas Act does not block state-law antitrust lawsuits concerning energy prices initiated by the buyers of that natural gas. The Act gives the Federal Energy Regulatory Commission jurisdiction over some pricing policies. The consumers argue that the companies reported false data to trade publications which used that data to calculate price indexes used to determine some contracts between buyers and sellers of natural gas.
Full Content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 2024 by
CPI
Turkey Hits Meta with $37.20 Million Fine Over Data-Sharing Practices
May 8, 2024 by
CPI
Google Seeks Dismissal of UK Suit Over Alleged Anti-Competitive Practices
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI