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Northeast basis: Daily demand patterns point to sustained New England premiums over New York

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Report summary

Basis in almost all historically premium markets is falling, including Chicago, the West, and especially Pennsylvania points like Dominion. The exception is New England, with limited pipeline capacity and declining LNG imports. Last winter, New England pipelines were fully utilized on a 35-degree day, versus 20 degrees in previous years, sending basis to historic highs despite normal weather. And recently, the January Algonquin contract shot up from $8/mmbtu to more than $12/mmbtu. Last...

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    Northeast basis: Daily demand patterns point to sustained New England premiums over New York

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Tables and charts

This report includes 6 images and tables including:

Images

  • Chart 1. New England pipeline utilization and basis
  • Chart 2. Recent winter weather distributions and constraint thresholds
  • Chart 3. Basis outlook: Average day versus monthly average of daily basis
  • Chart 6. New England and New York basis outlook
  • Chart 4. New England fundamentals change vs winter 2012-‘13
  • Chart 5. New York fundamentals change vs winter 2012-‘13

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