The bottom line: we have lost a significant share of our natural gas supply, and imports cannot offset this loss. The result will be higher natural gas prices this winter.
We are applying the hard-learned lessons of the California crisis, by assuring that clear and complete market rules are established before markets open. It is better to get it done right than to get it done fast.
We are mindful that the tight natural gas supplies could create temptations for improper behavior by some market participants.
The commission lacked the necessary statutory authority to respond more robustly with meaningful civil penalties and express anti-manipulation authority. The commission played a weak hand rather well, in my opinion.
Our actions today demonstrate our commitment to high safety standards. New England is facing a winter of very high natural gas prices. The region sorely needs additional gas supplies and a stronger gas infrastructure.
If they agree with the Fifth Circuit, at least there's some clarity.
The interstate grid is the highway for interstate commerce and economy. ... The rules for access to that interstate highway system have to be fair.
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