Natural gas selling for loose change in some areas

While the NYMEX Henry Hub futures price for natural gas continues to hover near $3/mmBtu, the spot gas price in a couple of regions continues to be basically pocket change.

On Oct. 3, the spot natural gas price for New York City was only 32 cents/mmBtu while the spot gas price was only 39 cents in the Mid-Atlantic.

The gas price has been below the $1 mark for the two regions for much of the past week.

The Oct. 4 spot power price did bounce back to $1/mmBtu in New York City and 89 cents/mmBtu in the Mid-Atlantic. Both figures, however, are remarkably cheap.

Sub-$1 natural gas spot prices were also reported for the two regions were reported during the week of Sept. 19.

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.