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PEREZ v. KEYSPAN CORPORATION

Nos. 6702, 302208/10, 6703.

94 A.D.3d 483 (2012)

941 N.Y.S.2d 608

2012 NY Slip Op 2595

LISZEIDA PEREZ, Respondent, v. KEYSPAN CORPORATION et al., Appellants.

Appellate Division of the Supreme Court of New York, First Department.

Decided April 10, 2012.

In 2006, defendants KeySpan and Morgan Stanley entered into a complex financial swap transaction for the period 2006-2009, whereby KeySpan hedged the prices it could charge for electrical output through simultaneous agreements with Morgan Stanley and nonparty Astoria Generating Company.

Plaintiff is a Con Ed customer. Nonparty Con Ed purchases electrical energy from KeySpan. Plaintiff claims that defendants' transaction artificially elevated the auction price of electrical...

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