Winter 2008-2009 showed up in full force over the weekend as temperatures went into the negatives in a number of regions. The cold snap that is affecting much of the United States led to cash market gains almost across the board on Monday, with the exception of a few Northeast averages, which showed declines.

Midcontinent, West Coast and Rockies points led the gains on Monday with a number of cash averages adding more than $1 to their price. In the Midcontinent, Panhandle Eastern and ANR-SW led the gains, while the PG&E citygate was one of the largest gainers out West. In the Northeast, which isn’t expected to receive the latest Arctic chill until Wednesday, some points such as Algonquin and Transco Zone 6 non-NY dropped by a little bit more than a dime.

The Pacific Northwest was under a full wintry assault as whiteout snow conditions combined with sub-zero temperatures to boost the Sumas average by more than $3 on Monday. According to NGI‘s cash market prices for the Rocky Mountain region, Sumas finished the day averaging $10.67 while the rest of the region’s points averaged between $5.37 and $6.63.

Farther south, West Coast utility traders were breaking out their seldom-used winter parkas. “We are seeing some of the coldest temperatures we have seen this year, so demand is up and that is keeping prices strong,” said a California trader. “The snow elevations are coming lower on the mountain, so loads are up obviously. There is a lot of anxiety on the pipelines right now and some operational flow orders are being put into effect. The market always gets a little funny when it gets this cold out here. We are seeing highs in the 40s, with lows in the 20s and 30s.”

Despite the cold, the trader said that with storage levels still largely healthy, there is no reason to panic yet. “The cold front has certainly sparked increased demand, but now we have to see what lies ahead,” he said. “The big question is how long will the cold last? There are some good indications that we’ll stay chilly though the end of the week, warm up a bit over the weekend and then see another mini-cold snap early next week. After that, it is supposed to stay mild through Christmas. As is always the case during the winter, we’ll follow the weather and adjust as necessary.”

Looking at the country’s midsection, AccuWeather.com meteorologist Meghan Evans said that while the blizzard in the northern Plains has passed, the dangerous, subzero cold that followed across Montana and the northern Plains will remain. “AccuWeather ReelFeel temperatures will be as low as -40 to -50 degrees across these regions, making it dangerous to venture outdoors for even a short time,” she said. “In addition to the threat of hypothermia, temperatures that feel this cold can cause frostbite in as little as five to 10 minutes. This caliber of cold will last through Tuesday.”

The Northeast is still attempting to recover from the ice storm of last week, which knocked out power to more than a million people in New York and New England. As of Monday, the number of people without power was down to 400,000. However, the region is not out of the woods yet, according to AccuWeather.com meteorologist Katie Storbeck.

“A fast-moving storm is set to hit the Northeast on Wednesday along with another shot of cold air,” she said. “The system will move northeastward toward the eastern Great Lakes over the next few days. By Wednesday, snow will spread through much of New York and northern New England, while warmer air aloft causes a messy mix of sleet and freezing rain from central and northern Pennsylvania through western Massachusetts.”

©Copyright 2008Intelligence Press Inc. All rights reserved. The preceding news reportmay not be republished or redistributed, in whole or in part, in anyform, without prior written consent of Intelligence Press, Inc.