Utilities manipulated natural gas supplies, causing artificial shortages, soaring energy prices, study finds

New England ratepayers paid $3.6 billion more for electricity due to capacity withholding. The utilities appear to have had an additional motive for withholding gas. Not only did the practice raise rivals’ costs in the electric generation market, but the artificially created gas shortages and high energy prices also lent credibility to the arguments for natural gas pipelines.