Spot Natural Gas Prices Dip Below $2 in All 10 Market Regions

Spot Natural Gas Prices Dip Below $2 in all 10 Market Regions

Spot natural gas prices in all 10 regional markets tracked by the Energy Information Administration (EIA) were less than $2/mmBtu in data released by EIA Feb. 24.
Northern California had the highest spot gas price in the nation at $1.99/mmBtu while the Mid-Atlantic had the lowest price at $1.11/mmBtu.
Mild weather in New England helped trigger a 39-percent price decrease for natural gas from the prior day. The New England natural gas price, often one of the higher figures in the nation, was only $1.69.
Meanwhile the price for March delivery of New York Mercantile Exchange (NYMEX) Henry Hub gas was listed at only $1.78/mmBtu. A year ago this price was more than $1/mmBtu higher than it is now, according to EIA data.
On another fuel data note from EIA, the service reported Feb. 24 that nearly 70 percent of all coal used by power plants to generate electricity in 2015 was shipped either completely or in part by rail. The rest was transported by waterway, truck or—for power plants located near a coal mine—by conveyor.
U.S. electric power generators consumed 740 million tons of coal in 2015.

This article was republished with permission.