For those who grew up in New England, single-digit temperatures, snow squalls, and icy roads are nothing outside the ordinary. With at least six days last year averaging colder than today’s forecast, it seemed almost impossible that gas prices would break last season’s record. Accompanying this week’s cold was a combination of factors amounting to conditions that were far from normal. As the risks began to present themselves on the morning of Wednesday, December 18, AGT-CG (Non-G), New England’s largest natural gas hub, sold for as much as $15.25/MMBtu, the highest price observed since January 30, 2018. So, what really caused natural gas prices to spike when they were so weak for the last six months? Primary Drivers Major changes in New England over the last two years have resulted in greater natural gas demand for power production. New England is known for its pipeline constraints, and the retirement […]