As New England freezes, natural gas prices also stay low

online_newsAs New England freezes, natural gas prices also stay low
By Scott DiSavino, Reuters
What a difference a year makes.

Twelve months ago, tumultuous weather in the Northeast caused record natural gas price spikes and forced some power plants to shut for lack of fuel as power producers scrambled to outbid each other for scarce supplies.

This February, the region has shivered through the coldest weather in 81 years, yet gas prices are a fifth lower than a year ago after power generators, learning lessons from last winter, stocked up on extra oil and gas from domestic and overseas sources before the weather turned cold.

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