Macquarie Climate Change Price Gouging – Public Citizen
A recent filing by Macquarie Energy LLC has raised concerns about the company’s honesty and integrity. Despite claiming in its application for renewal that it does not own or control any electric power generation or transmission facilities, this statement is misleading. Affiliates of Macquarie Energy LLC actually have controlling interests in two utilities with franchised electric service areas and transmission facilities. This includes Puget Sound Energy in Washington State and Cleco Power, serving nearly 300,000 captive customers.
In addition to these utilities, Macquarie Energy LLC owns multiple waste-to-energy electric power stations and has pending applications to acquire power generation assets in various states across the country. The company is also facing legal troubles, with the State of Kansas suing Macquarie Energy LLC for $50 million over allegations of price gouging during Winter Storm Uri. This storm led to the tragic deaths of 276 Americans due to energy access issues and price manipulation by certain companies.
The Federal Energy Regulatory Commission is currently investigating allegations of market manipulation by companies during Winter Storm Uri, including Macquarie Energy LLC. It is crucial that the U.S. Department of Energy does not approve Macquarie’s request to export electricity until these serious allegations have been resolved.
A Wall Street Journal article from 2021 highlighted Macquarie’s windfall profits during Winter Storm Uri, totaling $215 million. The company’s control of Multifuels Midstream Group and its natural gas pipeline network in ERCOT likely played a role in their price-gouging activities in Texas.
For more information and links to the full filing, you can visit the sources provided in the original article. It’s essential to hold companies accountable for their actions and ensure the protection of consumers and the integrity of the energy market.
