Since the end of February the twelve, twenty-four and thirty-six month average price for the transportation of natural gas on the Algonquin natural pipeline has dropped nearly $.30/MMBtu. While this has been good news over the same period the NYMEX Henry Hub natural gas commodity has risen by nearly as much! When the cold weather breaks we should see both of these components drop.
Last night ISO New England implemented emergency procedures to reduce the amount of load on the system. Hourly prices spiked to over $600/MWH at 6:00 PM. Demand response customers were notified to drop load. No reason has been given by ISO New England for this spike.
