Nine cryptocurrency firms filed a lawsuit against electricity provider because of increase in tariffs
Nine cryptocurrency firms filed a lawsuit against electricity provider because of increase in tariffs

Nine cryptocurrency firms submitted a claim against one of the largest utility companies of the State of Washington and her representatives. In the claim it is claimed that they “acted in an inadequate way during creation and the statement of the new rate increasing electric power cost for miners of cryptocurrencies”.

The utility company of the District of Grant in the State of Washington stated that nine cryptocurrency firms submitted a claim against the organization and its representatives in connection with advance in price on the electric power for the companies which are engaged in production of cryptocurrencies. At a meeting which took place on January 8 members of the commission of the organization agreed that “the utility company will cover expenses on legal protection for representatives of the organization of Tom Flint, Dale Walker and Larry Schaapman and also the former employees Terry Brewer and Bob Bernd and 10 other employees of the company”, – it is said in the protocol of a meeting. Besides, in the protocol it is noted:

“All of them are defendants in the claim against utility company of the District of Grant in the district court of the USA given cryptocurrency firms which claim that commissioners and some staff of the organization acted in an inadequate way during creation and the statement of a new rate which increases electric power cost for miners of cryptocurrencies and other new clients of “the developing industry”.

The utility company services more than 50,510 clients on all district. According to the publication Ifiberone, the organization published the statement for the legal claim at the end of the week. “We know about trial and we are going to submit the answer to the notification on the complaint to federal court until the end of a month”.

Since April 1, miners of cryptocurrencies will have to pay “for the electric power within primary increase in the tariff rate which will systematically grow within three years, for the purpose of protection of utility company against risks and saving of rates is lower than the base price for primary clients”, it was said in the statement of the organization published last fall.

In September commissioners of utility company of the District of Grant unanimously approved increase in electricity rates for miners. At first the price will grow by 15% at the beginning of 2019, then for 35% in a year, and by 2021 advance in price will be 50%.

The utility company also stated that it made a decision about increase in the cost on the electric power for miners as received service requests from the new companies in total on more than 2000 MW of power since summer of 2017. It “more than exceeds the power necessary for a power supply of all houses, farms and the enterprises of the District of Grant three times”. About 75% of these requests were served in miners of cryptocurrencies.