Minnesota regulators scold natural gas providers for cost run-up during February storm
August 6, 2021
Minnesota utility regulators Thursday approved a plan that would give consumers extra time to pay a colossal $660 million natural gas tab stemming from a historic February storm - while ripping the gas industry's role in the fiasco.
In fact, the Minnesota Public Utilities Commission (PUC) indicated that some of that $660 million could eventually be recouped by consumers as an investigation continues into how the state's utilities might have mishandled the February gas-supply crisis.
Several PUC commissioners Thursday questioned the functionality of a market that allowed Midwest wholesale prices to spike at least 4,500% - and saddle some Minnesota consumers with extra charges amounting to 50% of their annual gas bill.