Viridian Energy Rates

June 2018: A federal judge granted final approval of the settlement.

February 2018: A federal judge preliminarily approved a settlement agreement. According to its terms, class members may receive either a cash payment (in an amount that depends on the amount of energy they used) or an $8.50 credit to use on up to 12 future monthly bills. The company also agreed to provide its current sales representatives with a written notice telling them to abide by Viridian’s policies regarding marketing claims and to penalize its sales representatives if they fail to comply. A final fairness hearing is scheduled for June 25, 2018. Go to http://www.variableratesettlement.com/ for more information.

February 2017: A Consolidated Class Action Complaint, which consolidates three cases, was filed. According to the complaint, Viridian Energy deceptively advertises low initial rates for energy followed by variable rate plans that are tied to the market rate when, according to plaintiffs, customers end up paying four, five, or six times more for their energy.

December 2017: Several similar cases were consolidated after the parties reached a global settlement. (Sanborn et al v. Viridian, Case No. 14-cv-1731, D. CT.)

April 2015: A class-action lawsuit was filed against Viridian Energy for allegedly deceptively enticing customers to switch their energy supplier by offering “teaser rates” (i.e., low initial rates) for electricity followed by a “variable rate” that is tied to the market rate when, according to plaintiffs, the company routinely charges customers four or five times the underlying market rate after the “teaser rate” expires. (Steketee et al v. Viridian Energy, Inc., Case No. 15-cv-585, D. CT.)

For more information about other class-action lawsuits filed against energy suppliers and TINA.org’s coverage of them, click here.