A class action lawsuit was filed Thursday stating MEAG funds are being unlawfully used by city, WG&L
A class action lawsuit was filed Thursday against the city of Albany and WG&L
ALBANY, GA -- FOX 31 was first to learn that the city of Albany and Water Gas & Light are being sued on allegations of misusing funds.
The class action lawsuit was filed Thursday and states a fund set up by the Municipal Electrical Association of Georgia (MEAG) is being unlawfully used by WG&L and the city of Albany. The money is intended to be used by WG&L customers.
In 1999, MEAG set up a competitive trust fund in case electricity was deregulated. WG&L could then use the money to compete with other companies. According to a FOX 31 News report from February, the money originally came from rate payers.
The deregulation threat lessened. A committee was then formed and members decided to split the money evenly between the city, WG&L and a planning committee.
The civil action says in March 2009, Albany city officials amended the city charter to use these funds for their benefit instead of the benefit of the rate payers as originally agreed.
FOX 31 will bring you more details as we get them.
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