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California Gov. Newsom asks federal government to investigate high natural gas prices
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California Gov. Gavin Newsom asked the federal government on Monday to investigate unusually high natural gas prices, saying that the "root causes of these extraordinary prices warrant further examination."
"I therefore ask that [Federal Energy Regulatory Commission] immediately focus its investigatory resources on assessing whether market manipulation, anticompetitive behavior, or other anomalous activities are driving these ongoing elevated prices in the western gas markets," Newsom wrote in the letter on Monday.
"And, if warranted, I ask that FERC bring its full enforcement powers and resources to bear to protect customers."
Natural gas prices have soared in California and other western states in recent months. The price spike has mainly been caused by unusually high demand due to unseasonably cold temperatures paired with lower supplies due to fewer imports, according to the Energy Information Administration (EIA).