March 22, 2005
AG, city sue Peoples Energy over alleged natural gas scheme
CHICAGO City and state officials today filed lawsuits against Peoples Energy, claiming the company bilked customers of more than 100 (m) million dollars through a system of kickbacks.
The separate lawsuits were filed in Cook County Circuit Court by the city of Chicago and Attorney General Lisa Madigan.
Officials claim Peoples Energy partnered with Enron Corporation to trade and profit from natural gas intended to heat homes of Peoples Gas' customers.
The attorney general's complaint says the companies sold Peoples' gas reserves during winter months, when prices are highest, and replenished supplies at low prices during warm months.
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