Prices Spike for M-U NatGas in Mid-Atlantic, Southeast

Not all that long ago, the spot (physically traded) price of natural gas around the Marcellus/Utica region, and the regions it feeds, including the Southeastern U.S., had some of the lowest spot prices for natural gas in the U.S. We recall being excited to see the price per Mcf (or MMBtu) get above $1 in northeastern PA. That all changed over the past year or so. According to RBN Energy, "cash and forward prices in the Mid-Atlantic and Southeast have rocketed, becoming the highest gas prices in the land, and in some cases are at never-before-seen levels for this time of year." What happened? Why is the price so high now, in a region flooded with natural gas, where once we couldn't get the price to go over a dollar?

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