The staff of the Public Utilities Commission of Nevada has determined that Southwest Gas overpaid for natural gas last summer by about $8.13 million because of a poor hedging program and over-reliance on the spot market. As a result, the staff has recommended that amount be taken out of a rate balancing account and that the utility be ordered to improve its risk management practices.
Overpaid
Articles from Overpaid
Southwest Gas Berated for Poor Hedging Practices
The staff of the Public Utilities Commission of Nevada has determined that Southwest Gas overpaid for natural gas last summer by about $8.13 million because of a poor hedging program and over-reliance on the spot market. As a result, the staff has recommended that amount be taken out of a rate balancing account and that the utility be ordered to improve its risk management practices.
April 4, 2001
Listen to the latest episode of our newest podcast NGI's Hub and Flow via:
