Natural gas prices creep up across the board

Daily spot natural gas prices for all 10 of the Energy Information Administration reporting regions posted an increase, according to EIA figures published Jan. 15.

Meanwhile, the National Weather Service (NWS) says blizzards are on the way for the Dakotas and Minnesota.

New England saw its spot gas price increase 22% from the prior day to $7.00/mmBtu. That’s still far less than the $20s to $30s/mmBtu spot gas prices recorded in New England during the recent ‘polar vortex.’

Houston had the cheapest spot natural gas listed Jan. 15 at $4.24/mmBtu, which was still 4% higher than the previous day’s price.

Meanwhile, the New York Mercantile Exchange (NYMEX) energy future spot price for February delivery of natural gas was listed at $4.37/mmBtu on Jan. 15, EIA said.

On the spot power price side, eight of the 10 EIA reporting regions reported price increases from the prior day. New England had the highest spot power price at $62.52/MWh, which was up more than 15% from the prior day.

The Midwest saw its daily spot power price increase more than 25% to $36.86/MWh. Chicago is expecting a Jan. 15 high of 19 degrees F with wind gusts as high as 20 miles per hour.

The National Weather Service said that heavy snow and gusty winds will continue for parts of the Upper Midwest and Great Lakes through Wednesday morning.

The heaviest snow will fall from east-central Wisconsin into Michigan. Behind this system, another storm will bring strong winds and additional snow to the Plains and Midwest. Blizzard conditions are possible in the Dakotas and Minnesota late Wednesday into Thursday, NWS said.

 

About Wayne Barber 4201 Articles
Wayne Barber, Chief Analyst for the GenerationHub, has been covering power generation, energy and natural resources issues at national publications for more than 20 years. Prior to joining PennWell he was editor of Generation Markets Week at SNL Financial for nine years. He has also worked as a business journalist at both McGraw-Hill and Financial Times Energy. Wayne also worked as a newspaper reporter for several years. During his career has visited nuclear reactors and coal mines as well as coal and natural gas power plants. Wayne can be reached at wayneb@pennwell.com.