Today news
About the same in other media
Energy companies accused of bid rigging and racketeering in US lawsuit
Reading now: 931
A cybersecurity company filed a $110m lawsuit in New York this week, accusing the Spanish global energy company Iberdrola and its US subsidiary Avangrid of bid rigging and racketeering.
The 72-page federal court complaint outlines an elaborate scheme by Iberdrola executives to generate millions of dollars in wasteful equipment expenditures in order to turn a profit from its utility customers in New York, Connecticut and Maine.
The lawsuit further alleges that much of this equipment was never put to use and is instead collecting dust in warehouses across the region.
Iberdrola came to prominence about 20 years ago with investments in large wind farms, natural gas and hydroelectric power. In addition to Avangrid, it holds subsidiaries throughout
Read more on theguardian.comAbout this in other media
Tax refunds on unemployment benefits still delayed for thousands cnbc.com /2 years ago
Tens of thousands protest COVID-19 measures in Vienna euronews.com /2 years ago
What can we expect from Biden-Putin talks over Ukraine tensions? euronews.com /2 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
