Widespread failure of the natural gas system during Winter Storm Uri in February 2021 not only caused days of blackouts and hundreds of deaths in Texas, it led to astronomical spikes in the cost of natural gas throughout the country – up to 300 times the normal price.
All told, gas and electric utilities from Minnesota to Colorado to Texas paid hundreds of billions of dollars in higher costs to gas pipeline companies, most of which they’ve already turned around and passed on to their customers through higher rates. Meanwhile gas producers and pipeline companies made record profits — billions extra in just a few days.
