Commodities
NextEra Energy Marketing Found Liable for Artificially Inflated Gas Prices During Winter Storm Uri
Oklahoma Attorney General Gentner Drummond's office filed lawsuits in 2023 against several companies, alleging they artificially inflated natural gas prices during Winter Storm Uri in 2021.
One of those companies, NextEra Energy Marketing, has been found liable by an Osage County Court judge for its role in the price hike.
The investigation by the attorney general's office found that the company used a 'short squeeze' to drive up prices from $3 per unit to $1200 per unit during the five-day winter weather event.
Drummond estimated it cost Oklahomans billions of extra dollars to heat their homes during this period, and now the court will hold a trial to determine how much NextEra must pay in compensation.