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AG Wins $38 Million For Electricity Customers In Market Manipulation Settlement With Refunds Beginning In December
In a press release Illinois Attorney General Kwame Raoul announced that “some Ameren Illinois (Ameren) customers in central and southern Illinois will receive a credit on their upcoming power bills. The credits are the result of a $38 million settlement the AG’s office reached with Dynegy Inc. (Dynegy), a subsidiary of Texas-based Vistra Corporation.”
“The Federal Energy Regulatory Commission (FERC) approved the settlement in August 2025, resolving 10 years of investigation and litigation by the Attorney General’s office and other parties. It stems from the 2015 electricity capacity auction conducted by the Midcontinent Independent System Operator (MISO), which resulted in an electricity capacity price that was 40 times higher than all other MISO zones and nearly nine times higher than the prior year’s price.”
“Dynegy manipulated the market to overcharge electric customers by taking advantage of rules that have already been deemed unjust and unreasonable,” Raoul said. “I am pleased that FERC has finally approved this settlement and that consumers will receive this long-overdue relief.”
“Under the settlement, approximately $33.5 million will be refunded to Ameren residential and small commercial customers on Basic Generation Service or Real Time Pricing supply rates in the form of one-time credits to offset their Ameren electricity bill. Consumers can expect to see the credits, which will be based on their energy usage, applied beginning in December.”
“In addition to the $33.5 million to Ameren customers, the settlement also calls for $1.14 million to go to Southwest Electric Cooperative, $1.33 million to the Illinois Municipal Electric Agency, and $2 million to members of the Illinois Industrial Energy Consumers. The capacity auction at issue in the settlement sets one of the charges included in consumers’ electricity supply bills. Customers who receive their electricity through suppliers independent of Ameren or through their municipality did not pay the inflated price and are not eligible for the refund.”
As reported previously, “the United States Court of Appeals reversed FERC’s action and sent the complaint back to FERC for further proceedings to address the “starkly anomalous results” that pushed Illinois capacity charges up from $16.75 to $150.00. In 2024, FERC ordered Dynegy to engage in settlement talks with the Attorney General’s office and other complainants, resulting in the settlement.”
