Brattle experts conducted a series of workshop at the Public Service Commission (PSC) of West Virginia for stakeholders in natural gas procurement costs. We developed a series of presentations providing a framework for discussing hedging strategies and aimed at ensuring all stakeholders were aware of the pros and cons of specific approaches to enable reaching a consensus about the trade-off between risk management and ex post regret. A new mode of hedging was agreed upon and has been used without controversy for several hedging seasons.

Practices