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More New Class Action Settlements Announced For Customers Who Purchased Competitive Gas Supply
May 23,2019 Further settlements have been announced with certain defendants in lawsuits involving natural gas marketing which occurred from 2000-2002 What are these lawsuits about? The lawsuits allege that certain companies involved in the production, marketing, or sale of natural gas engaged in an unlawful conspiracy to manipulate the price of natural gas. Plaintiffs further claim that commercial and industrial purchasers of natural gas who purchased natural gas other than from utilities or local distribution companies and for their own use or consumption in Kansas or Missouri may recover for the effect that the alleged conspiracy had on the prices of the natural gas they purchased. Plaintiffs allege that, as result of the unlawful conspiracy, they and other purchasers paid more for natural gas than they would have absent the conspiracy. The settling defendants deny Plaintiffs' claims.
Who is included in the Settlements? In the State of Kansas All industrial and commercial direct purchasers of natural gas for their own use or consumption during the period from January 1, 2000 through October 31, 2002, and which gas was used or consumed by them in Kansas. Excluded from the settlement are (a) entities that purchased natural gas for resale (to the extent of such purchase for resale); (b) entities that purchased natural gas for generation of electricity for the purpose of sale (to the extent of such purchase for generation); (c) defendants and their predecessors, affiliates, and subsidiaries; (d) the federal government and its agencies; and (e) Reorganized FLI, Inc. (f/k/a and successor to Farmland Industries, Inc.). For purposes of this definition, a "direct purchaser" means an industrial or commercial entity that bought natural gas for its own use or consumption directly from any of the Defendants, or from a seller other than a local distribution company. In the State of Missouri All industrial and commercial direct purchasers of natural gas for their own use or consumption during the period from January 1, 2000 through October 31, 2002, and which gas was used or consumed by them in Missouri. Excluded from the settlement are (a) entities that purchased natural gas for resale (to the extent of such purchase for resale); (b) entities that purchased natural gas for generation of electricity for the purpose of sale (to the extent of such purchase for generation); (c) defendants and their predecessors, affiliates, and subsidiaries; (d) the federal government and its agencies; and (e) Reorganized FLI, Inc. (f/k/a and successor to Farmland Industries, Inc.). For purposes of this definition, a "direct purchaser" means an industrial or commercial entity that bought natural gas for its own use or consumption directly from any of the Defendants, or from a seller other than a local distribution company.
Who are the Settling Defendants? Settlements have been reached with the following Defendants: (a) The Williams Companies, Inc., Williams Merchant Services Company, LLC (f/k/a Williams Merchant Services Company, Inc.), and Williams Gas Marketing, Inc. (f/k/a Williams Power Company, Inc. and Williams Energy Marketing & Trading) (collectively, "Williams"); (b) Vistra Energy Corp. (as successor in interest to Dynegy Illinois Inc. and Dynegy GP Inc.), Dynegy Power Marketing, LLC (as successor in interest to DMT G.P. L.L.C.), and Dynegy Marketing and Trade, LLC (collectively, "Dynegy"); (c) e prime, Inc. and Xcel Energy Inc. (collectively, "e prime," and collectively along with Williams and Dynegy, the "Settling Defendants"). A complete list of Defendants is set out in the Settlement Agreement and other documents available at www.NaturalGasAntitrustSettlement.com.
What do the Settlements provide? The Settlements create a settlement fund of $11,750,000 (the "Settlement Fund"), before deductions for court-approved expenses and attorneys' fees. Those funds are allocated to claimants in Kansas and Missouri based primarily on the volume of natural gas sold in each state and differences in the claims and remedies available in each state. Before deductions for attorneys' fees and expenses, the Settlement Fund is allocated as follows: $7,402,500 to Kansas claimants; and $4,347,500 to Missouri claimants.
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