Statement of U.S. Senator Dianne Feinstein
On the FERC Announcement on Natural Gas
May 18, 2001

“It sounds to me like FERC is finally getting the picture and beginning to move. We’ve been urging movement for months as natural gas prices are still three times higher in California than anywhere else in the nation.

This action, which is called for under the Feinstein-Smith legislation, is a good first step toward returning natural gas and electricity prices to just and reasonable rates. But FERC must also restore the price cap on the transportation cost of natural gas which was lifted in February and must implement a temporary regional price cap in order to once again ensure just and reasonable prices.”