Contact us by clicking here, calling (914) 775-8862, or emailing us at case@wittelslaw.com.
Wittels McInturff Palikovic is investigating numerous complaints from consumers regarding Vistra Corp.’s potentially fraudulent business practices.
As detailed in a Wall Street Journal report, nearly 20 years ago Texas shifted away from using full-service regulated utilities to deliver power to consumers in favor of regional deregulated retail power companies. According to the WSJ, since this change Texas consumers have paid more for electricity than state residents who are still served by traditional utilities. In total, three quarters of the retail electricity sold in Texas comes from just two retail-energy providers—Vistra Corp. and NRG Energy Inc.—and their subsidiaries.
Vistra Corp. is one of the largest retail energy suppliers in the United States. Vistra entices residential customers to sign up for its service by offering its energy at low initial “teaser rates.” Yet the company doesn’t alert unsuspecting customers that when the teaser rate period expires, they will be charged exorbitant variable energy rates. Vistra’s customers are given no advance notice of these excessive variable rates. The company also does not disclose to customers that its rates are consistently higher than the rates charged by traditional utilities, or how variable rate customers can calculate (and avoid) steep variable gas and electricity charges.
Vistra Corp. also defrauds customers through a pricing strategy rigged in the company’s favor. When the underlying wholesale market price of energy that Vistra purchases for resale goes up, Vistra simply passes on these costs to its customers by raising rates. However, when the market price goes down, Vistra’s rate remains at an inflated level higher than the market rate. Vistra’s practice of charging inflated electric and gas prices is intentionally designed to maximize revenue without providing any additional value for consumers.
If you used or are currently using Vistra Corp. to supply your electricity or gas, we urge you to contact a class action attorney at WMP for a free case evaluation. Should a lawsuit be brought, there is no cost or fee involved in joining the case. You can contact us by clicking here, calling (914) 775-8862, or emailing us at case@wittelslaw.com.