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.