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CPS Energy v. Energy Transfer LP

District Court, Bexar County, Texas Not specified in source active

Bexar County District Court entered a $393 million judgment against CPS Energy for unpaid natural gas invoices stemming from fixed-price spot contracts executed during Winter Storm Uri in February 2021, comprising $263 million in principal, $119 million in contract interest accrued since early 2021, and $9.3 million in attorney fees. The court rejected CPS's unconscionability defense, holding that sophisticated commercial parties cannot avoid performance under spot market contracts negotiated during crisis pricing conditions—the largest Uri gas-pricing judgment reported to date.

Analysis