The Ohio Public Utilities Commission (PUC) has proposed regulations to allow electric utilities to use fuel-cost clauses to recover gains or losses from trading Clean Air Act emission allowances....
Michigan Reaffirms NYMEX Gas-pricing Mechanism
The Michigan Public Service Commission (PSC) has upheld a previous ruling finding it prudent for Michigan Consolidated Gas Co. to lock in a reasonable cost of gas through a series of gas-supply contract elections of alternative prices tied to the NYMEX (New York Mercantile Exchange) gas futures market. The PSC commented on its earlier ruling, however, to clarify that its remarks on the relatively small effect of the pricing decisions on the overall cost of gas for the local distribution company (slightly more than 1 percent) did not constitute a new policy. The PSC emphasized that state law does not excuse an otherwise unreasonable or imprudent fuel-acquisition decision by a public utility simply because the overall result is a minor cost increase. Re Michigan Consolidated Gas Co., Case No. U-10385-R, May 23, 1996 (Mich.P.S.C.).
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