Quantcast

Energy demand, prices soar as temperatures plummet - WCAX.COM Local Vermont News, Weather and Sports-

Energy demand, prices soar as temperatures plummet

Posted: Updated:

HARTFORD, Conn. (AP) - Federal energy officials say demand is up significantly for natural gas and electricity in New York City and New England because of near-record low temperatures.

The U.S. Energy Information Administration said Tuesday that natural gas demand was forecast to increase by 8 percent on Tuesday in New England and by 2 percent in New York.

Utilities and generators are tapping into gas storage to meet demand. The flow of liquefied natural gas from a terminal in Canada and eastern Canadian imports into New England jumped 75 percent between Monday and Tuesday.

Some electric power plants have switched to burning oil in New York and New England in response to rising natural gas prices.

Utilities and generators are expected to pay a premium for access to stored natural gas.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WCAX. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.