Examination

While hamstrung by a state law postponing further natural gasindustry restructuring, California regulators last week started adetailed assessment of whether the major investor-owned utilitiesthat they oversee have unfair competitive advantages that must beneutralized by future legislative and regulatory action. In initialproceedings last year, various non-utility market players allegedthe state’s three biggest gas utilities hold excessive market powerover major aspects of the industry.