NatGas Prices in Boston, NYC Double in One Day, Electric Up 55%

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Although a true polar vortex has not yet visited the northeastern U.S. as previously predicted, temperatures in the northeast have fallen and are forecast to be the lowest so far this winter in the next few days. Due to lack of natural gas pipelines to New York and New England, the price for natural gas in both New York City and Boston almost doubled, literally overnight. The spot price for natural gas at the Iroquois Zone 2 trading hub (NYC) rose $5.79 (246% or 2.5x) from $3.96 to $9.75/MMBtu on Jan. 27–in just one day! Algonquin Citygate (Boston) jumped $4.92 (203% or 2x) from $4.77 to $9.69/MMBtu yesterday–in just one day!

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