As of 3.30 pm today, as far as we are aware, the class action proposed by law firm Piper Alderman had not yet been registered in the Federal Court of Australia.
Until the claim is registered, we won’t know the specifics of the allegations, however we understand that Piper Alderman is alleging Stanwell misused its market power to influence wholesale electricity prices.
We strongly refute any allegation of misuse of market power.
We are confident we have acted in accordance with the extensive rules which govern the National Electricity Market, and we have always been transparent in our trading activities.
We intend to vigorously defend the class action in court, which will no doubt be a long and complex process.
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