MassLive: As cold snap lingers, New England becomes ‘world’s priciest market’ for power plants using natural gas

Without enough infrastructure for natural gas, New England has become the “world’s priciest market” for the fuel.

As frigid weather grips the region, wholesale prices for natural gas in New England are driving up the cost of power generation.

The settled price for natural gas in spot market trading tripled Tuesday to $35.35 per dekatherm, making New England the “world’s priciest market” for the fuel, Bloomberg News reported. By Friday, the price had dropped to $19.75, but that’s still four times than that paid by power generators in the Chicago area, where temperatures have also plummeted.

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