Oklahoma Energy Secretary Ken Wagner suggested that an investigation by the Southwest Power Pool is likely into the unprecedented spike in natural gas spot market prices over the past week as Arctic temperatures blanketed the region.
Interviewed Tuesday on KOTV News, he indicated questions are being raised.
“I’ve been in talks and conversations with Attorney General Mike Hunter and I feel sure the Power Pool will conduct a post-storm look into the high prices of gas,” he said.
Wagner said there could be a probe into possible “malfeasance” but he did not indicate who might be the target of such a probe.
“This is human health and safety we’re talking about.”
Prices began spiking last week and Wagner said they increased as much as 40 times from the normal price.
Members of the Southwest Power Pool include all of the utilities in Oklahoma—OGE, PSO, the municipal power producers and the rural electric cooperatives. The SPP region covers several states and early Tuesday morning the governing authority issued another Level 3 order requiring the implementation again of rolling blackouts in Oklahoma.
“What we’re dealing with this week is fuel commitments,” he explained, noting that in Texas the situation is far worse where rolling blackouts have been in effect for three to four days.
“We’re in a far-sighted situation than they are.”