Companies Approach $10M Natural Gas Settlement

By Marc Tracy (June 14, 2007, 12:00 AM EDT) -- A group of energy companies accused of artificially raising the price of natural gas in California moved a step closer to a $10.3 million settlement Wednesday when a judge filed a proposed final settlement in a massive antitrust class action against them.

Five energy companies and their subsidiaries—Williams Companies Inc.; EnCana Corp.; Dynegy Inc.; Coral Energy Resources LP and CMS Energy Resources Management Co.—will pay $2.4 million each under the proposed settlement, except for CMS, which will pay $700,000.

Several other defendants, also companies accused of involvement in the price manipulation, have not settled. They include Pacific Gas and Electric Co.,...

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