A U-S senator from Minnesota is calling for federal investigations into possible price gouging of natural gas in the Midwest and other regions in the wake of the recent frigid temperature across the central portion of the country.
Democrat Tina Smith sent a letter to federal regulators and obtained by The Associated Press that said price spikes could “threaten the financial stability of some utilities” that lack sufficient cash reserves.
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 on to customers