Governor Huntsman calls for federal investigations into natural gas pricesNews Releases
January 13, 2006
Salt Lake City - Governor Jon M. Huntsman Jr. today formally requested investigations into market prices for natural gas. In letters sent today, he called on the Federal Energy Regulatory Commission, the Commodities Futures Trading Commission, and the U.S. Senate to initiate investigations into whether market manipulation of gas prices is occurring.
The wholesale price of natural gas has more than doubled over the past year. Consumers are suffering the effects. Utah's businesses and citizens alike are facing the drastic financial impacts of the increases. The state's sustained economic growth is at stake.
"The U.S. Energy Information Administration indicates that there are adequate gas supplies for this winter, despite hurricanes and cold weather in some parts of the nation; yet prices continue to rise," Governor Huntsman said. "I am concerned that manipulation could be occurring. I am asking our federal regulators, who are tasked with monitoring the markets, to ensure that they are working properly and in the best interests of consumers of natural gas."