Saturday, August 13 2022 Sign In   |    Register
 

News Quick Search


 

News


Front Page
Power News
Today's News
Yesterday's News
Week of Aug 08
Week of Aug 01
Week of Jul 25
Week of Jul 18
Week of Jul 11
By Topic
By News Partner
Gas News
News Customization
Feedback

 

Pro Plus(+)


Add on products to your professional subscription.
  • Energy Archive News
  •  



    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    Legal Notice – Western Hub Electricity Settlement


    May 21, 2018 - Cera LLP and Klafter Olsen & Lesser LLP

     

      A $29 million settlement, subject to final court approval, has been reached with Barclays Bank PLC (“Barclays”) in a lawsuit about whether Barclays engaged in a scheme to unlawfully monopolize or attempt to monopolize the markets for setting certain electricity-related daily index prices at four major western U.S. electricity trading hubs known as Mid-Columbia, Palo Verde, South Path 15 and North Path 15.  Barclays denies all claims. 

      WHO IS INCLUDED?

      The Settlement Class includes any individual or entity that held any physical or financial contract which settled against the ICE or Dow Jones published daily index prices for peak or off-peak electricity at either Mid-Columbia, Palo Verde, South Path 15 or North Path 15 between November 1, 2006 and December 31, 2008, and was damaged by movements in such index prices allegedly caused by Barclays. 

      WHAT DOES THE SETTLEMENT PROVIDE?

      Each Settlement Class Member who submits a valid Claim Form with supporting documentation and was damaged by movements in the ICE or Dow Jones published daily index prices for peak or off-peak electricity caused by Barclays between November 1, 2006 and December 31, 2008 will be eligible to receive a payment.

      HOW DO YOU ASK FOR A PAYMENT?

      To receive a payment you must submit a Claim Form by October 18, 2018.  The Claim Form is available at the website www.WesternHubElectricitySettlement.com or by calling 1-866-673-9669.

      YOUR OTHER OPTIONS.

      If you do not want to be bound by the settlement, you must exclude yourself from the Settlement Class by July 5, 2018; otherwise you will release certain legal rights against Barclays and related entities as set forth in the Settlement Agreement.  If you exclude yourself, you cannot get a payment from the settlement.  If you stay in the settlement, you may object to it by August 25, 2018.  A detailed Notice, the Settlement Agreement, and other related documents are available at the website or by calling 1-866-673-9669.

      The United States District Court for the Southern District of New York will hold a hearing in the case, called Merced Irrigation District v. Barclays Bank PLC, No. 1:15-cv-04878-VM-GWG, on September 14, 2018, to consider whether to grant final approval of the settlement, and to approve a request by Settlement Class Counsel for attorneys’ fees, expenses and an incentive award to the class representative.  You or your own lawyer, if you have one, may ask to appear and speak at the hearing at your own cost, but you do not have to.

      SETTLEMENT CLASS COUNSEL

      Solomon B. Cera

      Cera LLP

      www.cerallp.com

      Jeffrey A. Klafter

      Klafter Olsen & Lesser LLP

      www.klafterolsen.com

      www.WesternHubElectricitySettlement.com

    TOP

    Other Articles - Announcements


    TOP

       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.