PSC approves one-year halt to hedging of natural gas prices by utilities
The Florida Public Service Commission signed off Wednesday on a moratorium on hedging of natural gas purchases by Florida’s major public electric utilities, pending negotiations over how the practice could stop costing ratepayers so much. The stipulated agreement calls for the commission to oversee one or more workshops beginning early next year in which the power companies, major customers, and the Office of Public Counsel will seek a more cost-effective way to insure against rising gas prices. “Hedging needs to…