Clarksville has hedged small amounts in recent months. They do know about hedging, they just haven't done much lately.
If last spring, Clarksville had hedged some of its gas requirements for the winter when prices were relatively low as other gas systems did, local gas rates would have had some stability and would never have climbed as high as they reached.
Mr. Eaton either doesn't know what he's talking about, he's being deceptive, or a combination of both. Of course Clarksville could have hedged last spring for this past winter, that's the way we do business.
Clarksville did not change its contract, and I've never known why. Even without amending their entire contract, Clarksville still could hedge, or could have hedged, some of their gas requirements by calling us and letting us know that is what they wanted us to do for a specific amount of gas. This is how good management works in our business.
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