The Scoop” –
Prices rose significantly across the United States due to cold weather. Northeast prices increase substantially. At the Algonquin Citygate, which serves Boston-area consumers, prices went up $3.06 from $2.94/MMBtu last Wednesday to $6.00/MMBtu yesterday, a more than 100% increase. Cold weather tends to especially affect spot prices in the Northeast, as constrained pipeline capacities may not provide enough natural gas to meet the region’s heating needs. The weekly high of $6.01/MMBtu on Monday was also the highest spot price at the Algonquin Citygate since February of this year. At the Transcontinental Pipeline Zone 6 trading point for New York, prices increased $1.22 from $2.91/MMBtu last Wednesday to $4.13/MMBtu yesterday.