Southern California Gas saved $23 million.
The utility will pass on to its customers, at its next semiannual price adjustment, savings of nearly $10 million in July and an estimated $13 million in August as a result of purchases of natural gas on the spot market. Spot gas is bought “as available” from producers and pipelines that have surplus stocks. Nearly 25% of the July purchases were made on the spot market through competitive bids from suppliers in Texas, Oklahoma and New Mexico.
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