Oklahoma Attorney General Gentner Drummond confirmed Friday his office is monitoring the impact the winter storm is having on natural gas prices.
Earlier this week, prices increased 40% in two days and on Friday, they had gained another 5%.
A spokeswoman for the Attorney General told OK Energy Today, “The Attorney General is monitoring by meeting with the Public Utility Division and utilities daily to discuss the impending winter storm and the plans they have in place. These meetings have encompassed response plans and customer communication. The AG has expressed that he is monitoring the situation and has requested that each utility make his office aware of any issues or concerns as they arise.”
The office also issued a press release.
As Oklahomans prepare for a stretch of dangerously cold winter weather, Attorney General Gentner Drummond announced today that his office will closely monitor natural gas supply and marketing activity to help ensure consumers are protected from potential price manipulation or unfair practices.
Drummond said his office is committed to safeguarding ratepayers and preventing a repeat of the market abuses that contributed to soaring energy costs during the 2021 Winter Storm Uri.
“It is critical that Oklahomans are not exploited, especially during extreme weather events,” Drummond said. “While energy markets can experience volatility during periods of severe cold, those conditions do not excuse predatory behavior or violations of contractual obligations. Ratepayers deserve fair and transparent costs that reflect legitimate market conditions.”
The Attorney General is asking public utilities to promptly notify his office if natural gas marketers fail to meet their contractual supply obligations or engage in any suspicious or potentially unlawful conduct.
Drummond continues to pursue litigation and investigative efforts related to excessive natural gas pricing during the 2021 Winter Storm Uri. He emphasized that his office remains vigilant and prepared to take appropriate action should similar conduct arise during the current winter weather event.