US: Top court allows antitrust claims over natural gas prices

The U.S. Supreme Court has upheld a Ninth Circuit ruling that took a narrow view of the jurisdiction of FERC under the Natural Gas Act, affirming state jurisdiction over retail natural gas sales.

The decision issued Tuesday went against energy companies which had been defending themselves against antitrust claims, arguing that federal law preempts consideration of the cases at the state level.

The case deals with the false reporting of wholesale natural gas price data to price index publishers and dates back to the early 2000s.

Learjet and other natural gas retail buyers then filed antitrust lawsuits against Oneok and other gas sellers in multiple states for damages they suffered from the market manipulation during the 2000-2002 energy crisis.

The justices voted 7-2 to allow the antitrust lawsuits to proceed. Dissenting justices were John Roberts and Antonin Scalia. Justice Stephen Breyer wrote the majority opinion.

Full Content: Forbes

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