Spot natural gas prices dip below $2 in all 10 market regions

Spot natural gas prices in all 10 regional markets tracked by the Energy Information Administration (EIA) were less than $2/mmBtu in data released by EIA on Feb. 24.

Northern California had the highest spot gas price in the nation at $1.99/mmBtu while the Mid-Atlantic had the lowest price at $1.11/mmBtu.

Mild weather in New England helped trigger a 39% price decrease for natural gas from the prior day. The New England natural gas price, often one of the higher figures in the nation, was only $1.69.

Meanwhile the price for March delivery of New York Mercantile Exchange (NYMEX) Henry Hub gas was listed at only $1.78/mmBtu. A year ago this price was more than $1/mmBtu higher than it is now, according to EIA data.

On another fuel data note from EIA, the service reported Feb. 24 that nearly 70% of all coal used by power plants to generate electricity in 2015 was shipped either completely or in part by rail. The rest was transported by waterway, truck, or—for power plants located near a coal mine—by conveyor.

U.S. electric power generators consumed 740 million tons of coal in 2015.

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.