# An $815 Million Snafu Spawned by One of the Wildest Gas Markets | Fortune

> Southern California Edison must charge customers an extra $815 million after failing to anticipate a July heat wave that sent regional gas prices to a record. Gas for Los Angeles delivery traded at almost 10 times the US benchmark in early February, amid pipeline outages and restrictions on the Aliso Canyon storage field.

- Date: 2019-03-02 · published 2019-03-02T12:00:00.000Z
- Category: logistics · region US · magnitude medium
- Page: https://feedsoft.ai/events/8000-an-815-million-snafu-spawned-by-one-of-the-wildest-gas-markets-fortune
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Pipeline outages and storage limits leave Southern California exposed to price spikes whenever temperatures swing. The regional tightness can lift gas and power costs in a major demand center.

## Read by commodity

- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2016-10-28 | [U.S. gas futures for 2017 lead market as funds bet on pipeline delay](https://feedsoft.ai/events/9177-u-s-gas-futures-for-2017-lead-market-as-funds-bet-on-pipeline-delay.md) | -5.8% | +5.4% |
| NATGAS | 2025-01-22 | [Freeport LNG Restart Hopes, Cooler Forecasts Boost Natural Gas Futures — MidDay Market Snapshot](https://feedsoft.ai/events/26696-freeport-lng-restart-hopes-cooler-forecasts-boost-natural-gas-futures-midday.md) | -15.5% | +36.1% |
| NATGAS | 2018-10-18 | [BC Pipe Explosion Rattles Downstream U.S. Natural Gas Forward Markets](https://feedsoft.ai/events/62747-bc-pipe-explosion-rattles-downstream-u-s-natural-gas-forward-markets.md) | -0.6% | +34.5% |
| NATGAS | 2017-12-12 | [After Europe's Gas Market Disasters, LNG May Come to the Rescue \| Rigzone](https://feedsoft.ai/events/67648-after-europe-s-gas-market-disasters-lng-may-come-to-the-rescue-rigzone.md) | -3.2% | +7.5% |
| NATGAS | 2018-01-16 | [Production outages tighten Asian gas market \| LNG Industry](https://feedsoft.ai/events/67164-production-outages-tighten-asian-gas-market-lng-industry.md) | -11.9% | -28.5% |

## Sources

- fortune.com: https://fortune.com/2019/03/02/natural-gas-market-us/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.