ISONE prices surged in the beginning of the week, as short-term weather forecasts indicated record cold in New England for the long Thanksgiving weekend. Trading on the prompt month (December 2018) for the Masshub DA On-Peak package traded over $100, but has since plummeted down to under $80. Both Henry Hub and Algonquin basis trended lower throughout the week, leading to lower pricing in New England.
Despite the intense intra-week volatility, the starting points week over week do not show large price changes. For the NEMASSBOST zone, the 12 Month ATC strip dropped $0.25 (0.4%) from the beginning of the week to $55.36. The 24 Month ATC strip lost $0.14 (0.3%) to $51.75 and the Cal 2019 ATC strip dropped $1.14 (2.2%) to $51.41/MWh.
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