Memo Suggests Abuse of Gas Market, Judge Says
From Times Wire Reports
A federal judge said a memo in a natural gas supply case implies that the market was abused to drive up California energy costs last year.
The memo “certainly has statements in it that could lead one to believe there was an abuse” of the gas market, Curtis Wagner, a Federal Energy Regulatory Commission judge, said in a hearing.
California regulators have pointed to the memo to accuse the Houston-based El Paso Corp. of using its market power to inflate the price of natural gas sold in California last year by as much as $3.7 billion. The firm denies the allegations.
