Read the full CNBC article here.
Ryan Hardy, an energy markets expert at PA Consulting Group, discusses the current cold snap and its impact on the U.S. power grid and electric bills.
Ryan notes that in the Northeast, residences that rely on natural gas for home heating compete for supplies with power plants. “That's a unique thing that puts stress on the pipeline infrastructure in the Northeast.”
He adds: "New England is definitely where you have the potential to see problems, particularly over the next few days."
The article notes that pipeline constraints have also led to a spike in regional natural gas prices for immediate delivery.
Ryan adds: Cash prices in New York have spiked above $17 per million British thermal unit — compared with U.S. benchmark Henry Hub natural gas prices around $3 per mmBtu. That increase feeds into the cost of power and will ultimately hit ratepayers.
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