Unchecked free-market forces drove up the price of natural gas to Southern California Edison by about $750 million over the last year, an industry consultant testified Wednesday.
Paul Carpenter told the Assembly Electricity Oversight Subcommittee the price spikes came after the El Paso Natural Gas Co. contracted first with Dynegy and later with its own marketing affiliate, El Paso Merchant Energy, to control the pipeline capacity.
The California Public Utilities Commission estimated a year ago that overcharges by the companies that control natural gas flow drove up prices by $100 million a year to California gas and electricity customers.
But PUC attorney Harvey Morris said that was before last summer's price spikes, which he blamed on natural gas suppliers using a
Please purchase a Premium Subscription to continue reading.
To continue, please log in, or sign up for a new account.
We offer one free story view per month. If you register for an account, you will get two additional story views. After those three total views, we ask that you support us with a subscription.
A subscription to our digital content is so much more than just access to our valuable content. It means you’re helping to support a local community institution that has, from its very start, supported the betterment of our society. Thank you very much!
Only subscribers can view and post comments on articles.
Already a subscriber? Login Here
Could San Mateo County become one of the healthiest places to live? 🌿 Read moreBlue Zones Ignite San Mateo County Community Keynote
Woodside Musical Theatre proudly presents Jesus Christ Superstar in Concert — the company’s … Read moreJESUS CHRIST SUPERSTAR in Concert
Planning your dream wedding? Discover everything you need at the Wedding Fair in the Park – … Read moreWedding Fair in the Park
“Side-splittingly funny and brilliantly chaotic” Read moreThe Play That Goes Wrong
CA Is Burning said:
CA Is Burning said:
Dirk van Ulden said:
LittleFoot said:
This is great news.
Success! An email has been sent to with a link to confirm list signup.
Error! There was an error processing your request.
Sorry, an error occurred.
Already Subscribed!
Cancel anytime
Thank you .
Your account has been registered, and you are now logged in.
Check your email for details.
Submitting this form below will send a message to your email with a link to change your password.
An email message containing instructions on how to reset your password has been sent to the email address listed on your account.
No promotional rates found.
Secure & Encrypted
Thank you.
Your gift purchase was successful! Your purchase was successful, and you are now logged in.
| Rate: | |
| Begins: | |
| Transaction ID: |
A receipt was sent to your email.
(0) comments
Welcome to the discussion.
Log In
Keep the discussion civilized. Absolutely NO personal attacks or insults directed toward writers, nor others who make comments.
Keep it clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't threaten. Threats of harming another person will not be tolerated.
Be truthful. Don't knowingly lie about anyone or anything.
Be proactive. Use the 'Report' link on each comment to let us know of abusive posts.
PLEASE TURN OFF YOUR CAPS LOCK.
Anyone violating these rules will be issued a warning. After the warning, comment privileges can be revoked.