Xcel Energy Inks $2.5M Deal In 15-Year Gas Price-Fix Fight

Law360 (January 22, 2021, 11:00 PM EST) -- A proposed class of roughly 1,100 natural gas purchasers asked a Colorado federal judge Friday to preliminarily approve a $2.5 million settlement that would resolve claims in a nearly 15-year-old antitrust suit, which alleges that Xcel Energy Inc. and its subsidiary E Prime Energy Marketing manipulated natural gas prices.

In a 42-page motion for preliminary approval, class counsel said they intend to request up to 27% of the fund, or $673,500, to cover attorney fees, plus an additional $575,000 to cover a fraction of the expenses incurred. The remaining funds — approximately $1.25 million — will be doled out to members of...

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