Massive natural gas bills incurred during the Texas freeze have set in motion a series of lawsuits across the country as companies discuss who is responsible for the listing.
Since the February storm, at least 30 lawsuits related to natural gas contracts have been filed in four states that destroyed the energy of millions of jeans and raised gas prices to the highest levels in recent years. Billions of dollars are collectively online.
Demands have exposed the enormous pressure that the financial consequences of the storm have exerted on natural gas suppliers and customers, including utilities and others. The bulk of the lawsuits are in Texas courts and involve some of the world’s largest energy companies and traders, including Exxon Mobil Corp., Koch Industries Inc., BP PLC and Vitol.
Some of the lawsuits allege that gas suppliers were engaged in scouring prices during the storm, charging for utilities. Some providers like ConocoPhillips, in turn, demand utilities and others for unpaid bills.
Other lawsuits focus on whether companies should discharge their contractual obligations to supply gas during parts of February, when icy temperatures close a vast strip of Texas’ energy infrastructure. Legal analysts expect more lawsuits to be filed in the coming weeks.