¬†With the US Northeast cold snap forecast to deepen on Jan. 28, both gas and power prices were trading substantially higher on Jan. 27. Receive daily email alerts, subscriber notes & personalize your experience. Register Now US Northeast spot gas prices and power prices skyrocketed during Jan. 27 trading as total gas demand was predicted to have a roughly 4 Bcf/d increase on Jan. 28 and continue to rise through Jan. 31, with temperatures switching from above average to below average. Looking at natural gas markets, Algonquin city-gates jumped $4.92 to $9.69/MMBtu for Jan. 28 flows, while Iroquois Zone 2 zoomed past and rose $5.79 to $9.75/MMBtu on Jan. 27. In the forwards market, the remainder of Algonquin city-gates winter strip has seen continued strength over the past few days, trading at a basis of $1.53/MMBtu as of Jan. 26 settle, up from 88 cents just […]