Fluctuations do not come from local gas distribution utilities, which send gas to consumers at cost and don’t profit from sales, but rather are the consequence of fluctuations in supply and demand.
The key to understanding today’s volatile natural gas and electricity prices, and potential protections against them, is found in how California’s energy system is linked to the rest of the nation and globe. Four big forces are at work. First, networks for producing and delivering gas are integrated regionally and nationally, so much of what we observe locally depends on circumstances across the rest of the country. In February 2021, a deep freeze
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