New England’s gas prices are now as high as they were during the polar vortex of 2014-15 — and it’s only December.
“Gas prices for tomorrow are extremely volatile and high,” said John Borruso, director of natural gas trading at Con Edison Energy in Valhalla, New York. “This is truly a gas demand driven event because the temperatures are so cold and it’s still December. The market is set up in a certain way in December, it’s not prepared.”
Gas for next-day delivery on Enbridge’s Algonquin city gate in New England, including Boston, settled at $35.35 per million British thermal units on the Intercontinental Exchange on Tuesday. Algonquin gas last rose that high in February 2014 during the polar vortex.