Winter 2023 Natural Gas Prices

Proceeding Background

On March 16, 2023, the CPUC opened a new proceeding to investigate:

• The causes and impacts of the winter 2022- 2023 natural gas price spikes and the potential for recurrence;
• The impact of the price spikes on natural gas and electric prices and customer bills;
• The potential threats to natural gas and electric reliability and price volatility in summer 2023 and beyond, and potential mitigations; and
• Utility communications to customers to determine whether they were sufficient or require modifications.

Selected Proceeding Documents

• Staff White Papers
  • High Natural Gas Prices in Winter 2022-23: Part I (Updated February 10, 2025)
  • High Natural Gas Prices in Winter 2022-23: Part II (June 5, 2025)
  • High Natural Gas Prices in Winter 2022-23: Part III (Updated October 13, 2025)
• Other Proceeding Documents
  • November 4, 2024: Amended Scoping Memo and Winter 2024-25 Gas Outlook
  • February 22, 2024: Gas Utility and Independent Storage Provider Preparations for Winter: Workshop Report

Events

• October 26, 2023: Workshop on Gas Utility and Independent Storage Provider Preparations for Winter 2023-24
  • I.23-03-008 High Gas Prices Investigation October 26, 2023 Workshop Recording | Recording Password: QmyPMda6  
  • I.23-03-008 High Gas Prices Investigation October 26, 2023 Workshop Presentations
• February 7, 2023: En Banc: Current Market Conditions and Impacts of Gas Prices on Electricity (Prior to the opening of the investigation)
  • En Banc Recording
  • Agenda
  • Master Deck: Current Gas Market Conditions and Impacts of Gas Prices on Electricity En Banc

Related Actions

• Directed utilities to enhance customer communications via email, social media, customer calls, bill inserts, community-based organizations, television spots, and even text messages to those enrolled in text communications. This includes information on enrolling in income qualified programs such as CARE and FERA, enrolling in seasonal billing plans to stabilize monthly bills, opting into rate forecast tools, and strategies to safely conserve while retaining health, comfort, and safety during the holidays.
• Accelerated the timeframe in which residential energy customers will receive a Climate Credit on their bills in 2023.

Related Links

• February 7, 1990: Rulemaking 90-02-008
• June 23, 1993: Decision 93-06-092
• March 16, 1994: Decision 94-03-050
• Jan. 2001: Evaluation Report on Southern California Gas Company’s Gas Cost Incentive Mechanism
• July 29, 2025: PG&E Core Procurement Incentive Mechanism Year 30 Public Report (November 1, 2022 through October 31, 2023)

Reports on Winter 2022-23 by Other State and Federal Agencies

• February 6, 2023: CAISO’s Special Report on Gas Conditions and CAISO Markets for December 2022 and January 2023 Published
• November 7, 2023: FERC, NERC Release Final Report on Lessons from Winter Storm Elliott | Federal Energy Regulatory Commission