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Prolonged cold across the US Northeast drove power and gas prices higher ahead of New Year's Day. ISO New England Mass Hub on-peak power traded near $170/MWh, and Algonquin city-gate gas jumped over $2 to $18.76/MMBtu.
December Algonquin averaged $14.96/MMBtu, up 64% from the prior year.
Regional gas price spikes in the Northeast signal tight near-term supply and higher energy costs for feed mills and processors, though the effect on national benchmark prices is limited.
spglobal.comDaryna Kotenko, Ricardo Plata iiiDec 31, 2025After 221 past bullish weather events, Natural Gas moved a median +3.3% over 5 sessions (61% higher; middle half -5.2% to +14.0%), and -0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
