Spot natural gas prices in New England jumped more than $4 at some points Monday, sending prices above $12/MMBtu on IntercontinentalExchange.
The Algonquin Gas Transmission city-gates averaged $12.52/MMBtu at 9:58 a.m. EST, an increase of $4.73, and Dracut, Massachusetts, averaged $12.63/MMBtu. Dracut did not trade on ICE on November 21, the final day of exchange trading before the extended US Thanksgiving Day holiday.
Tennessee Gas Pipeline zone 6-200 leg also shot up more than $4, adding $4.19 to average $11.80/MMBtu.
The prices for the three points are the highest on the exchange this year and other Northeast and North American prices also rose, including Henry Hub, which also hit its highest point of the year at $3.75/MMBtu, up 15 cents. Short-covering after the weekend and below-average temperatures -- Boston is forecast to see a high of 37 on Tuesday -- combined to send prices higher.
