Power Surges in New England Market on Higher Natural Gas Prices
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New England wholesale power jumped after cold weather sent spot prices for natural gas to an 11-month high and generation increased from oil-fired units.
Gas for delivery Thursday at the Algonquin City Gates, which includes Boston, climbed $2.82 to $19.28 per million British thermal units in trading Wednesday on the Intercontinental Exchange, the highest since March 14. The price of the power plant fuel for delivery Friday fell to $18.16.