Some Kansas natural gas consumers may not see any relief from the high energy bills recorded during the winter. Gas was $ 2.54 in February. Sixteen days later, it was $ 622.76. “$ 622.76 is the worst inflation ever,” said lawyer Jim Zakura. S&P Global Platts, an influential natural gas price index company, believes it is one of the reasons. Looking at some professions, but setting prices for most transactions. “The index price may have covered 1% or 2% of the transaction, but it may have affected 90% or 100% of the transaction,” Zacura said. Zakura wants Kansas to call S&P records to see how the corporation configured the index. KCC rejected his request. “The power to investigate wholesale market behavior … is on the FERC, not the commission,” wrote KCC. FERC is the Federal Energy Regulatory Commission. It is examining the prices of cold waves. Zakura, however, said he did not believe the investigation would include a price index. “Any meaningful investigation has ended with their order, because they do not see the accuracy of the indexes,” he said. That’s the problem, they believe – in the middle of a few trades, in the middle of a bitter cold, it sets the price for most trades. The Kansas attorney general is also investigating inflation related to the February cold snap.
Some Kansas natural gas customers may not see any relief from the record high during the winter.
Natural gas prices rose during the coldest storm earlier this year. Gas was $ 2.54 in February 1. Sixteen days later, it was $ 622.76.
“$ 622.76 is the worst possible inflation,” said lawyer Jim Zakura.
Zakura said he did not believe it was all about gas companies. S&P Global Platts, an influential natural gas price index company, believes it is one of the reasons. Looking at some professions, but setting a price for most transactions.
“The index price may have covered 1% or 2% of the transaction, but it may have affected 90% or 100% of the transaction,” Zacura said.
Zakura wanted the Kansas Corporation Commission to pass on S&P records to see how it was set up. KCC rejected his request.
“The power to investigate wholesale market behavior … is in the FERC, not the Commission,” he wrote.
FERC is the Federal Energy Regulatory Commission. Cool wave is examining prices. Zakura, however, said he did not believe the investigation would include the release of a complaint.
“Any meaningful investigation ended with their order yesterday, because they do not see the accuracy of the index values,” he said.
Zaccura says he believes the problem is there – in the middle of a few trade prices, in the middle of a bitter cold, adjusting prices for most trades.
Kansas attorney general is investigating inflation related to the February cold snap.
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