Public En Banc Notice: Current Gas Market Conditions & Impacts of Gas Prices on Electricity Markets
|Location||Virtual access only via webcast or phone|
The CPUC will hold an En Banc to discuss recent high natural gas prices this winter, examine possible drivers and impacts on electric markets, and explore potential measures to mitigate the impact of natural gas and electric market volatility.
WHEN: February 7, 2023, 9 a.m. – 1 p.m.
WHERE: This is a virtual only event. Access the En Banc virtually via webcast or phone, as follows:
- Live video broadcast with English or Spanish captions via webcast: www.adminmonitor.com/ca/cpuc
- Participants who choose to participate via webcast will only have audio and video capabilities but will not be able to make verbal comments. If you would like to make a comment during the public comment portion of the En Banc, the phone-in information is below.
- For captions, after clicking on the name of the En Banc, click the green button at the bottom of the video for captions. Then select captions by clicking on the white icon next to the word “live” at the bottom of the video.
- The En Banc will also be recorded and archived for future viewing.
- Phone: 800-857-1917, passcode: 1767567#
- Participants will have audio in English and will be able to make comments during the comment portion of the En Banc. (To make a comment during the public comment period, press *1 to be placed in a queue by the operator, unmute your phone, and record your name. If you wish to cancel, press *2.)
- Participants will be placed on mute in “listen-only” mode until the public comment portion of the En Banc.
- Wait times depend on the number of speakers in the public comment queue. During times of high call volumes, wait times will be longer. The operator will call on you when it is your turn to speak.
WHAT: This En Banc will examine the causes and impacts of recent high natural gas prices that are impacting customer bills this winter. The CPUC is hosting this En Banc in coordination with the California Energy Commission and the California Independent System Operator. The discussion will address: 1) Factors impacting natural gas prices in California; 2) Federal safety rules and role during interstate pipeline outages; 3) Impacts on the electric market from high natural gas prices; and 4) Strategies to mitigate high natural gas and electric market prices. There will be an opportunity for public comment at the En Banc.
WHY: Rising natural gas prices, which are passed through at cost directly to utility customers, are causing residents throughout the state to face higher energy bills this winter. While the CPUC does not regulate natural gas prices or natural gas producers, given the impact of these high prices on ratepayers, the CPUC acted quickly to schedule the En Banc to gain greater understanding on the issue and explore solutions by convening market experts. Separately, the CPUC is consider accelerating the Climate Credit that customers receive on their bills in order to provide much needed support to those experiencing unusually high natural gas bills. Accelerating the Climate Credit will be considered at the CPUC’s Feb. 2 Voting Meeting. More information is available at www.cpuc.ca.gov/events-and-meetings/cpuc-voting-meeting-2023-02-02.
A quorum of Commissioners and their Advisors may be present but no decision will be made.
If special accommodations are needed to attend, such as non-English or sign language interpreters, please contact the CPUC’s Public Advisor’s Office at firstname.lastname@example.org or toll-free at 866-849-8390 at least three business days in advance of the En Banc.
More information can be found at www.cpuc.ca.gov/industries-and-topics/natural-gas and www.cpuc.ca.gov/industries-and-topics/natural-gas/winter-2023-natural-gas-prices.
- En Banc Recording
- Media Advisory
- Master Deck: Current Gas Market Conditions and Impacts of Gas Prices on Electricity En Banc
- Panelist Presentations
- Panelist Bios
- Other Materials and Resources
- Jan. 12, 2023: President Alice Reynolds's Voting Meeting Remarks on Natural Gas Prices
- Feb. 6, 2023: CAISO’s Special Report on Gas Conditions and CAISO Markets for December 2022 and January 2023 Published
- Feb. 6, 2023: Governor Newsom Calls for Federal Investigation of High Natural Gas Prices as California Provides Relief