Ambit: Making clean energy dirty again | Multi Level Mondays
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Did Ambit Mean to Deceive Their Customers All Along?
New York State Department of Public Service launched an investigation into Ambit energy after hundreds of complaints about higher than expected charges. In yet another lawsuit, and I swear these are actually never ending at this point, Amy Silvis brought Ambit's good faith and fair dealing into play. She alleged that their teaser rate was anything but market-based. A federal judge actually was siding with Ambit, but that result was overturned, and a $9.3 million settlement was issued. Between that, the $1.5 million penalty for that 1% promise controversy and $20 million in refunds they had to issue, this comes to a little over $30 million over the past few years.
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