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After pipeline maintenance, Northeast gas prices fall in line with rest of US

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After pipeline maintenance, Northeast gas prices fall in line with rest of US

U.S. average spot natural gas prices moved higher versus the prior month and year over year in November as a return to normal pipeline operations helped bring Northeast prices in line with the rest of the country.

In October, pipeline maintenance in the Northeast limited flows into New England, pushing prices at hubs serving Appalachian production below $1/MMBtu. A return to normal seasonal capacity levels brought average November prices in the Northeast 29.3% higher versus October, to $2.811/MMBtu, even as estimated production continued to set records.

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Average spot prices at hubs serving Appalachian production more than doubled versus October levels, with average prices at Leidy jumping 126.1% to $2.027/MMBtu.

Colder weather also helped to boost prices in the Northeast.

According to the U.S. National Oceanic and Atmospheric Administration, gas home heating customer-weighted heating degree days, a proxy for space heating demand for natural gas, were up 10.7% year over year in New England and up 17.9% in the mid-Atlantic.

Year over year, prices saw more growth at demand centers than in Appalachia. Transco Zone 6 NY prices averaged $2.932/MMBtu for a 35.8% year-over-year increase, while Algon Gates notched an average of $3.274/MMBtu, up 32.6% versus the prior year.

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Market prices and included industry data are current as of the time of publication and are subject to change. For more detailed market data, including power, natural gas and coal index prices, as well as forwards and futures, visit our Commodities pages.