Oklahoma’s Republican Attorney General Gentner Drummond has filed lawsuits against two Texas-based natural gas companies over their alleged role in driving up gas prices during Winter Storm Uri in 2021. The lawsuits were filed in Osage County against Dallas-based ET Gathering & Processing and Houston-based Symmetry Energy Solutions. The lawsuits claim that the companies used tactics to reduce natural gas supplies and increase prices during the devastating storm, which left millions without power across the country. Drummond stated that he believes there was a significant level of fraud committed against Oklahomans during the storm and that some companies profited billions of dollars through dishonest means.
According to Drummond, while many companies conducted themselves ethically during Winter Storm Uri, there were bad actors who took advantage of the situation for financial gain. He described the alleged actions of Enable and Symmetry as both staggering and unconscionable. The lawsuits represent the first time the state of Oklahoma has taken legal action against natural gas operators over profits made during a storm. Messages seeking comment from ET and Symmetry were not immediately returned, indicating that the companies have not yet responded publicly to the allegations.
In addition to Oklahoma, Kansas Attorney General Kris Kobach also filed a lawsuit against a natural gas marketer in his state over similar allegations of price manipulation during Winter Storm Uri. Meanwhile, in Texas, where the storm also caused significant damage, the electric utility Griddy Energy reached a settlement with state regulators over the high electric bills its customers faced. The impact of Winter Storm Uri was felt across multiple states, leading to legal action against companies accused of taking advantage of the situation to increase profits at the expense of consumers.
The lawsuits filed by Drummond in Oklahoma seek to hold Enable and Symmetry accountable for their alleged actions during Winter Storm Uri. The Attorney General’s office conducted an analysis that indicated some companies engaged in fraudulent behavior and generated substantial profits as a result. The legal action aims to address what Drummond describes as ill-gotten gains obtained through dishonest means. The lawsuits highlight the importance of protecting consumers and ensuring that companies operate in a fair and transparent manner, particularly during times of crisis when vulnerable populations are most at risk.
As investigations into the conduct of natural gas companies continue in Oklahoma and other states affected by Winter Storm Uri, the lawsuits serve as a warning to companies that engage in price manipulation or fraudulent practices. By holding corporations accountable for their actions, state attorneys general aim to prevent future instances of profiteering during emergencies. The legal actions taken by Drummond and Kobach demonstrate a commitment to upholding the rule of law and protecting the interests of consumers. Moving forward, increased oversight and regulations may be necessary to prevent similar incidents from occurring in the future and ensure that energy markets operate in a fair and transparent manner.
