Snow Elves where forced underground by Nords after a bloody war. They sought refugee with the Dwemer who 'welcomed' them but then weakened them by feeding them poisonous stuff. They basically became Dwemer slaves after that and evolved into what we call the Falmer. And when the Dwemer disappeared they had everything for themselves!
Maybe they are going back to the surface to claim what is theirs. I hate Falmer though, nasty bastards.