Updated March 26th, 2014
Good EIA report on gas prices and gas supply here.
Natural gas use has continued to rise.
This seems almost certain to drive prices higher and in fact, already is:
And since Massachusetts gets about 50% of our electricity from natural gas, our electric rates seem certain to rise along with them.
This graphic shows the high percentage of Massachusetts electricity that is generated using natural gas. If gas prices rise then electricity prices will typically follow: Massachusetts Fuel Mix
This graphic shows that the reservoirs that store gas for the winter are at record lows. The summer will be spent both providing the usual consumption and recharging the reservoirs. This will put ongoing pressure on the supplies keeping prices elevated: Lower 48 Underground Storage Graph
The graph above shows how unusual this year really is.
As expected, gas prices are beginning to respond as it becomes clear that this transient event is going to keep demand elevated: Spot Price for Gas
This graphic gives a sense of just how unusual things are this year.