The Oklahoma Attorney General’s office indicated in response to a report by OK Energy Today thay it has yet to receive an invoice from the Oklahoma City law firm hired for an original exploratory investigation into possible market manipulation of the 2021 winter storm natural gas prices.
“—which is to say we don’t yet know the cost of their review work,” explained a spokesman for Attorney General Gentner Drummond.
The firm of Foshee & Yaffe was chosen by the Attorney General last spring to conduct a preliminary review of the historic gas prices that prompted major utilities to use a securitization and bonding method to spread costs over nearly a quarter of a century to their customers. The contract was dated in April 2023.
Foshee & Yaffe was utlimately chosen by Drummond following a Request for Proposals in which two other firms submitted bids for the right to represent the state in seeking possible recovery of billions of dodllars.
Under the first contract with Foshee & Yaffe, there is a maximum amount it could be paid.
“The contract indicates their billing cannot exceed $50,000, but until we receive an invoice (which hopefully will be soon), I have no figure to give you. Once I have it, you will have it. Scout’s honor,” said Communications Director Phil Bacharach in an email to OK Energy Today.
The second contract with Foshee & Yaffe has a maximum payment to the firm of a possible $50 million.