Colorado AG wants FERC probe of windfall profits during February storm


The same issue that had the attention of Oklahoma leaders last month—that of monstrous natural gas bills during the winter storm—prompted the Colorado Attorney General this week to ask for a federal investigation.

Attorney General Phil Weiser called on the Federal Energy Regulatory Commission to investigate reports that traders booked a $210 million “windfall” profit from spiking natural gas prices reported the Colorado Sun.

The paper reported the state’s Office of Consumer Counsel was already probing how ratepayers could be hit with steep bills, the same thing that Oklahoma consumers face.

While Oklahoma legislative leaders have yet to hold hearings into the matter, the Oklahoma Corporation Commission has started reviewing requests of utilities to take steps to delay a pass-through of their billions of dollars in natural gas costs during the storm.

Click here for the Colorado Sun story.

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