New England natural gas and electricity prices increase on supply constraints, high demand

The spot natural gas price at the Algonquin Citygate, a trading hub and the benchmark for the natural gas price in New England, averaged $20.55 per million British thermal units (MMBtu) during January 2022—the highest monthly average price since February 2014—and exceeded $28/MMBtu on several days as part of a pattern of price spikes this winter.
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