Get Market News

Get weekly email updates on market factors like supply, demand, and regulatory affairs. Subscribe now

Get Started with ENGIE

ENGIE Resources is ready to analyze your historical electricity usage data and present appropriate options. Request now

Become a Broker or Consultant

Complete our Brokers & Consultants Inquiry Form. Learn more

Mysteries of the Market: Power and Gas Prices Diverge in Vortex

February 05, 2019

Chicago was colder than the Artic. One-third of U.S. households experienced temperatures as low as 0° F. U.S. daily natural gas demand hit a new record of 148 bcf/d. You would expect natural gas and electricity prices to spike. Regional spot prices for electricity did their part. New England and New York market spot electricity prices spiked to above $100/MWh and Midwest prices reached $97/MWh. However, Henry Hub NYMEX spot natural gas prices fell by 15% compared to the prior week.