Huge natural gas forward basis moves continued for pipeline capacity-starved New England, but hefty premiums also shifted further west during the short Nov. 17-21 period, NGI’s Forward Look data showed. With several inches of snow falling and a stormy outlook ahead, the Rockies and Pacific Northwest posted sharply higher forward prices. Northwest Sumas December basis…
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Snowstorm Drives Big Gains for Natural Gas Forwards, while Market Looks Ahead to Freeport’s Return
Natural gas forward prices continued to strengthen during the Nov. 9-16 period amid a continuation of colder-than-normal temperatures ahead of the core of winter, according to NGI’s Forward Look. Gains (again) were most pronounced in New England, where rising heating demand and pipeline constraints combined to drive hefty premiums compared to the rest of the…
As ‘Perilous’ Winter Looms, Biden Urged to Support New England Natural Gas Infrastructure
Natural gas transporters are urging the Biden administration to pursue a long-term solution to New England’s energy security issues ahead of a potentially “perilous” winter season. In a letter to the White House on Monday, Interstate Natural Gas Association of America (INGAA) CEO Amy Andryszak called on the president to address “the root cause of…
Eversource CEO Urges Biden to Waive Jones Act as New England Facing Possible ‘Severe Natural Gas Shortage’
The CEO for New England’s largest utility, Eversource Energy, called on President Biden in a letter last week to enact federal emergency orders to “swiftly address the growing concerns” of New England’s access, or lack thereof, to natural gas this winter heating season. New England, which lacks the natural gas pipeline infrastructure to fill out…
Higher Winter Natural Gas Prices Forecast Despite Bearish Supply, Demand Factors, Says FERC
FERC is projecting elevated U.S. natural gas prices for the 2022-2023 winter, despite mild weather forecasts for most of the country and steadily rising domestic production. “Natural gas prices for the upcoming winter are expected to remain higher than recent years at major trading hubs across the U.S.,” Federal Energy Regulatory Commission staff said in…
Massachusetts Utilities Sign Hydropower PPA in Effort to Hit Climate Targets
Thirteen Massachusetts-based municipal public power entities have agreed to purchase more than 110 GWh/year of electricity from two hydroelectric power plants in Connecticut owned by FirstLight Power Resources Inc. The offtaker under the power purchase agreement (PPA) is Energy New England (ENE), a wholesale risk management and energy trading organization serving municipal utilities in New…
U.S. LNG Imports Reach 15-Year Low Amid Natural Gas Production Growth, Capacity Gains
LNG imports to the United States reached their lowest levels in 15 years during the first half of 2022, according to the Energy Information Administration, a possible sign that domestic production and infrastructure projects could be improving supply issues in the Northeast. Recent EIA data showed U.S. imports of liquefied natural gas averaging 77 MMcf/d…
Eversource Agrees to $1.8M More in Fines Over ‘High-Pressure’ Natural Gas Notices in Connecticut
Eversource Energy has agreed to pay $1.8 million over allegations that it violated the consumer protection rights of natural gas customers in Connecticut. The utility had paid an identical penalty in 2021. Connecticut Attorney General William Tong said the settlement with the combined utility came after an investigation was launched into whether Eversource used deceptive…
New England Natural Gas Forward Prices Surge on Heat-Induced Spike in Demand, Tight Capacity
With stifling heat and high humidity spreading across the Eastern Seaboard, natural gas forward prices in New England raced higher with pipelines tapped out and unable to move additional supply to the region. Fixed prices for August soared $1.86 for the trading period through Wednesday (July 21) to reach $8.236/MMBtu at the Algonquin Citygate, a…
Soaring LNG Prices, Pipeline Constraints Threaten New England Power Grid This Winter
New England’s natural gas pipeline constraints, global supply chain issues tied to oil and liquefied natural gas (LNG) deliveries, and prolonged periods of cold weather this winter could keep the region’s electric utilities from accessing sufficient fuel to meet customer demand and trigger emergency actions, according to power grid operator ISO New England Inc. “As…