MN Senator Smith calling for probe on possible natural gas price gouging
FARGO, N.D. (Valley News Live) - Minnesota US Senator Tina Smith is calling for federal investigations into possible price gouging
of natural gas in the Midwest and other regions following severe winter storms that plunged Texas and other states into a deep
freeze. Millions of homes and businesses were without power for days.
Smith says natural gas spot prices spiked as high as 100 times typical levels, forcing utilities and other natural gas users to incur
exorbitant costs, many of which were passed onto customers.
In a letter sent to federal regulators, Smith said price spikes could, “Threaten the financial stability of some utilities” that lack
sufficient cash reserves.
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