Natural gas spot prices in 2015 at the Henry Hub in Louisiana averaged US$2.61/million Btu, the lowest annual average level since 1999. Daily prices fell below US$2/million Btu this year for the first time since 2012. Henry Hub spot prices began the year relatively low and fell throughout 2015, as production and storage inventories hit record levels and fourth quarter temperatures were much warmer than normal.
Natural gas prices at key regional trading hubs ended the year lower than their starting point. At northeastern locations, where natural gas transmission infrastructure is often constrained, prices spiked in the early months of 2015, which were colder than normal compared to much of the US. Prices at the Algonquin Citygate, which serves Boston, and at Transcontinental Pipeline’s Zone 6, which serves New York City, began the year much higher than the Henry Hub spot prices in early 2015, but then fell below the national benchmark for much of the rest of the year. The annual average spot price at Henry Hub of US$2.61/million Btu was US$1.78/million Btu , or 41%, lower than the 2014 average.
