Energy Price Gouging Lawsuit

Inergy Propane announces refunds to customers as part of lawsuit settlement.

Energy Price Gouging

Gaylord, MI: (Mar-26-08) Michigan's Attorney General's Office brought charges against Inergy Propane, accusing the Gaylord company of price gouging. The suit claimed that customers of the following Inergy owned businesses: Gaylord Gas, Petoskey Propane, Blue Flame Gas, DeCock Bottled Gas, Lagasco Propane, McBride Oil & Propane, Northwest Energy, Pearl Gas, ProGas Propane, and Quality Propane overpaid for gas as a result of the company's fraudulent business practices.

Sources from the Attorney General's Office stated that the two sides have reached a settlement agreement that will stand to benefit thousands of consumers. They said that the resolution will allow consumers an opportunity for refunds and an opportunity to work with Inergy Propane to secure propane at a locked-in lower price.

Under the terms of the deal, the settlement will apply only to residential customers who were not on a fixed price plan; the settlement offers two options for consumers who were charged more than $3.39 per gallon of propane from Nov. 1, 2007 through Feb. 16, 2008. Under the first option, the customer may choose to obtain a new supplier and have their propane tanks pumped out and removed at no charge. For any unused propane, a customer selecting this option shall receive a refund. For consumed propane, customers will be refunded the difference between the price paid and $3.40 for fuel delivered between Nov. 1, 2007 and Feb. 16, 2008.

The second option will give customers the choice to continue their service with Inergy Propane. Those who had fuel delivered between Nov. 1, 2007 and Feb. 16, 2008, will receive a credit for the difference between $3.20 and the price they were charged. Those who select this option will then be subject to all Inergy published fees including pump-outs, tank pick up, and re-stocking charges. Apart from the above, customers selecting option B will be offered an insurance capped price contract for the time period of June 2008 through May 2009. This contract will offer a fixed price below $3.00 per gallon of propane. [TV 7-4 NEWS: INERGY PROPANE ANNOUNCES SETTLEMENT]

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