Boston NatGas Futures Hit Nearly $30/MMBtu, Spot Price $38/MMBtu

New England has a problem, and Massachusetts Senator Elizbeth "Pocahontas" Warren is clueless as to its source. The problem is super high, continuously spiking prices for natural gas, which in turn lead to high and spiking prices for electricity (most of New England's electricity is generated by natural gas-fired power plants). This week the futures price for natural gas traded at the Algonquin Citygate, the major gas delivery hub near Boston, hit almost $30 per MMBtu. Earlier this week the spot price for physically traded gas at Algonquin went over $38/MMBtu. The reason? New England depends on imported LNG to help with heating and electric production, and LNG cargoes have gotten a LOT more expensive.

---

To view this content, log into your member account. (Not a member? Join Today!)