PG&E and Sempra Energy’s Southern California Gas Co., two of the state’s biggest gas utilities, said they support Newsom’s call for an investigation. The utilities said they don’t set the price…
By Mark Chediak | Bloomberg
California Governor Gavin Newsom called for federal energy regulators to investigate a recent hike in natural gas prices that has resulted inNewsom, a Democrat, asked the Federal Energy Regulatory Commission in a letter to look into whether market manipulation, anticompetitive behavior or other activities have driven up the cost of gas in the US West, according to a statement Monday.
The call for a probe comes after the wholesale price of natural gas in Southern California soared to more than nine times that of US natural gas benchmark futures in December, prompting California utilities to warn of
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