Regulator Warns City Gas Companies on Performance Bonds

The gas company regulator is telling city gas companies to follow the rules.

They need to give a financial guarantee, called a performance bond, to show they can build gas pipelines and stations.

The regulator is saying if companies don't submit this guarantee on time, the regulator will take their money and might cancel their project.

The guarantee must be renewed regularly.

The regulator is worried projects are taking too long.

They are also looking at letting companies use insurance bonds as a way to provide financial guarantees.