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Massachusetts AG petitions for probe into natural gas phase-out (NYSEARCA:UNG)


Massachusetts’ attorney general has asked the state’s public utilities regulator to investigate the future of the natural gas industry and whether the business plans of local gas distribution companies are consistent with Massachusetts’ net-zero emissions target.

The AG office’s petition filed with the state’s Department of Public Utilities notes there has been “little public discussion of the resulting business planning and financial implications” of electrifying buildings and other actions needed to reduce emissions to meet the 2050 emissions target.

If the DPU opens the probe, Massachusetts would become the third state to launch a formal process to phase out natural gas, following California and New York.

“The Northeast is likely to need a tapestry of solutions for heat, and our research and experience shows us that the gas network can play an integral role,” says National Grid (NYSE:NGG), a major natural gas supplier in Massachusetts.

ETFs: UNG, UGAZ, XLU, DGAZ, BOIL, FCG, KOLD, UNL, GAZB, GAZ





Read More: Massachusetts AG petitions for probe into natural gas phase-out (NYSEARCA:UNG)

2020-06-05 16:50:00

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