The natural gas industry has been transformed since the enactment of the Natural Gas Policy Act of 1978, changing from a very highly regulated industry to one that today largely operates as a free market. The Kansas Corporation Commission does not regulate the cost of natural gas but does review and monitor utility purchase contracts.

Natural gas is a commodity traded on the New York Mercantile Exchange (NYMEX). Prices are subject to the laws of supply and demand in a market like coffee beans, sugar and other commodities. The NYMEX launched the world's first natural gas futures contract in 1990.