Yetter Coleman Wins $25.7M Winter Storm Uri Contract Dispute for DC Transco

U.S. District Judge Robert Pitman last week ordered Rainbow Energy Marketing Corporation to pay $25.7 million to DC Transco as part of dispute over a series of derivative financial transactions related to Winter Storm Uri in February 2021.

North Dakota-based Rainbow, an energy trading operation, sued DC Transco in federal court in Austin accusing the former business partner of breach of contract and seeking a declaratory judgment that would allow Rainbow to assign losses to DC Transco under their “Emergency Management Agreement.”