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Natural Gas: Analysis of Changes in Market Price

GAO-03-46 Published: Dec 18, 2002. Publicly Released: Dec 18, 2002.
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Highlights

During the winter of 2000-2001, the wholesale price of natural gas peaked at a level four times greater than its usual level. Responding to the congressional interest and concern caused by these high prices, GAO undertook a study to address the (1) factors that influence natural gas price volatility and the high prices of 2000-2001; (2) federal government's role in ensuring that natural gas prices are determined in a competitive, informed marketplace; and (3) choices available to gas utility companies that want to mitigate the effects of price spikes on their residential customers. GAO surveyed a nationwide sample of gas utilities and staff of state utility regulatory agencies.

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Energy
Natural gasNatural gas pricesPrice regulationPrices and pricingPublic utilitiesUtility ratesFinancial derivativesHedgingFuturesAgricultural commodities