According to a decision handed down by the Alberta Utilities Commission, Calgary-based TransAlta Utilities Corporation manipulated power prices and engaged in insider trading when it shut down its coal-fired power plants during peak periods seven years ago. The dinner time shutdowns on winter nights increased electricity prices by 10 to 60 per cent, and forced the companies that owned the rights to the power to scramble to purchase high-priced electricity for their customers.
It is alleged by The Market Surveillance Administrator (MSA) – a watchdog for the energy sector – that TransAlta made nearly $16 million profit from the shutdowns by selling power it owned at other facilities after driving up prices.
James H. Brown & Associates has filed a class action lawsuit against TransAlta Corporation in Alberta Court of Queen’s Bench, alleging that both residential and business customers of electrical power in Alberta suffered damages in the form of inflated electricity rates during the period in question.
The action seeks to represent all Alberta TransAlta customers who purchased electricity on a VARIABLE rate contract in late 2010 and early 2011.
If you purchased electricity through EPCOR, DIRECT ENERGY or any other electricity redistributor in Alberta in late 2010 and early 2011, you are entitled to participate in this class action lawsuit. Please note you are not charged ANY fee or cost for joining this class action – our law firm will be paid from recovered proceeds if this class action is successful.
If you wish to join the contact list for this class action, please complete the form below.