Open Markets Files Amicus Brief Against Price Gouging by Energy Corporations Abusing Monopoly Power
October 28, 2019
Washington, DC — On Friday, the Open Markets Institute filed an amicus brief in support of PNE Energy Supply in its lawsuit against Eversource Energy and Avangrid, Inc. PNE Energy accuses Eversource Energy and Avangrid of creating an artificial shortage of natural gas and triggering a dramatic increase in the price of electricity for residents of New England.
In this case, the district court ruled to protect the energy corporations’ misconduct from private antitrust suits permitting them “to use their market power to transfer millions or even billions of dollars from the public into their own coffers.”
“Antitrust is crucial to protecting consumers from the unfair practices of producers and traders of electricity and gas. Vigorous antitrust enforcement, including by consumers and businesses, can ensure the availability of affordable gas and electricity by stopping monopolistic behavior and promoting fair competition,” said Sandeep Vaheesan, Legal Director of the Open Markets Institute. “The district court’s expansion of the filed rate doctrine to protect private corporations manipulating markets is erroneous on both legal and policy grounds, and must be reversed.”
Read the full brief here.