News

Former Ameren owner settles with Illinois Attorney General on 10-year-old price-fixing allegations

Dynegy Photo: Contributed


Chicago, IL (CAPITOL CITY NOW) – A former owner of Ameren Illinois has agreed to a settlement resulting in a credit on your next Ameren electric bill.

According to a news release, the Illinois Attorney General’s office says Texas-based Dynegy has agreed to pay $38 million to settle allegations it manipulated the energy market back in 2015, a few years after Dynegy purchased the utility.

They essentially, the AG says, manipulated the market “to overcharge electric customers by taking advantage of rules that already been deemed unjust and unreasonable.”

“I am pleased that [Federal Energy Regulatory Commission] has finally approved this settlement and that consumers will receive this long-overdue relief,” said Kwame Raoul, Illinois Attorney General, in a news release.

More than $33 million worth of the settlement will be provided to Ameren electric customers in the form of one-time credits that will be applied this month.  Some money will also go the Southwest Electric Cooperative, the Illinois Municipal Electric Agency, and the Illinois Industrial Energy Consumers organizations.

Dynegy, it should be noted, no longer owns Ameren.

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