. Under the federally-regulated interstate system on which most states rely, the power of pipeline companies to affect gas prices is limited.
Most of the time, this is not a problem. Cheap gas from regulated interstate pipelines flows into Texas from Louisiana, Oklahoma and New Mexico, providing competition and limiting the power of Texas pipeline owners to dictate prices. In the weeks around last February’s winter storm, analysts at the Federal Energy Regulatory Commission noted more than 2,000 instances of unusual market behavior around the country — far above normal,After conducting surveillance of 10 companies, the analysts referred two cases to the commission’s Division of Investigation for further examination.
Coleman did not provide additional details. NERC, a nonprofit that sets standards for power grids nationwide, declined to make Coleman available for an interview.