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New England's AGT-CG hub hit $15.25 per mmBtu on December 18, 2019, its highest since January 2018, during a cold snap. The spike was driven by pipeline constraints, the retirement of the Pilgrim nuclear plant, and reduced capacity on Tetco M3 with operational flow orders in place.
Gas-fired generation has grown by almost 3 GW to replace the retired capacity.
Pipeline bottlenecks and higher gas-fired power demand in New England created a regional price spike even though national prices were weak. This shows how transport constraints can override broad oversupply in local gas markets.
oilprice.comGenscapeDec 24, 2019After 54 past bullish logistics events, Natural Gas moved a median -1.8% over 5 sessions (43% higher; middle half -5.7% to +6.2%), and +5.1% 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.
