Polar Vortex Winner: Natural Gas Utilities
The polar vortex ruined plenty of people’s plans, but it was a savior for anyone selling natural gas. Indeed, natural gas prices have been under pressure for years now, as higher production slams up against tepid demand.
Well, the polar vortex took care of that. In some Northeastern markets, natural gas prices rose 600% to hit record highs. Indeed, nat gas was selling for more than twice the price it usually does around this time of year.
That’s going to help natural gas utilities, especially those operating in the Northeast or hardest hit parts of the Midwest. Look for polar vortex benefits at National Fuel Gas (NFG), Northeast Utilities (NU) and Integrys Energy (TEG), among other natural gas utilities.