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Brrrr! If you live anywhere in the northeastern part of the country, you're likely bundled up sitting at home, or bundled up sitting at work. Most schools dismissed today because of the brutally low wind chill values--minus 30 degrees Fahrenheit in upstate NY where MDN is headquartered. Over the past couple of days MDN has highlighted the news that with this latest winter 'bomb cyclone' as it's called, the lack of natural gas pipelines to New England--to feed both homeowners who heat with gas and utilities that use gas to generate electricity--can no longer be ignored. Two days ago we told you that New England now has the dubious distinction of paying the highest average price for natural gas in the entire world (see New England’s Lack of Pipelines = Most Expensive Gas in the WORLD). Yesterday we told you that at least part of the blame for New England's sky high natgas prices can be laid at the feet of New York Gov. Andrew Cuomo (see New England Can “Thank” NY Gov. Cuomo for Sky High NatGas Prices). However, lack of pipelines doesn't only affect New England states, it also affects New York itself. Yesterday history was made when the spot price for natural gas in New York City hit an amazing $175 per thousand cubic feet (Mcf) at the Transco Zone 6 New York trading hub. Incredible! In Boston, at the Algonquin City Gate trading hub, the spot price briefly hit $105/Mcf! Below we have the news about these record-breaking prices from the natgas price experts--Natural Gas Intelligence (NGI). Each weekday NGI publishes their MidDay Price Alert by 1 pm Central, both emailed and available at this webpage: www.naturalgasintel.com/middayprices. The MidDay Price Alert, which includes Intercontinental Exchange trade data, gives gas traders (and those with a keen interest in prices) the latest intel on what's happening with prices at 125+ trading hubs across the country. Here's what yesterday's MidDay Price Alert showed for trading in the northeast...
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