What is Transco Zone 6 NY?

curl -H "Authorization: Token YOUR_KEY" \
  "https://api.oilpriceapi.com/v1/prices/past_year?by_code=NATURAL_GAS_TRANSCO_Z6_NY_USD&interval=daily"

Where is Transco Zone 6 NY?

Zone 6 is Transco's northeastern market zone. Prices for it are published in two parts: a "NY" price for deliveries into the New York City area and a "non-NY" price for the rest of the zone, each with its own ICE basis contract. EIA lists Transco Zone 6-NY as the hub representing New York City in its daily price tables.

What is the Transco pipeline?

Williams describes Transco as the largest interstate gas transmission system in the U.S.: nearly 10,000 miles of pipe running from south Texas to New York City, carrying about 15% of the natural gas consumed in the country (Williams, 2021). Its newest expansion into the city, Northeast Supply Enhancement, is designed to move Marcellus and other Appalachian gas into the Northeast (Pipeline & Gas Journal).

What sets the price?

Two things: the Henry Hub price, which anchors every U.S. hub, and the cost of getting the last molecule into the city on the day. On a mild day that second part can be negative. In EIA's weekly table, the New York spot price was $2.51/MMBtu on 8 January 2026 while Henry Hub was $2.87, a discount of 36 cents.

The discount turns into a premium when heating demand rises faster than the delivery capacity into the city. Six days later, on 14 January 2026, the same New York price was $7.00 against Henry Hub at $3.12 (EIA). Nothing changed at Henry Hub; the move was local.

Why does it spike so hard?

New York City sits at the end of a few pipelines that run near capacity in cold weather, and on a design-day cold snap there is no way to add pipe within a gas day. Utilities and power plants that have not contracted firm capacity bid against each other for whatever interruptible space and spare supply remain, and the price clears where enough of them give up. Every spike in the record below came with cold weather across the Northeast at the same time, so New York competes with Boston and Philadelphia for the same constrained supply.

A worked example: the January 2018 bomb cyclone

• 4 January 2018. Transco Zone 6 NY averaged $140.06/MMBtu, an all-time high, as the Northeast coast was hit by severe winter weather. Henry Hub that day was $4.42, so the basis was about $135.64 (EIA Natural Gas Weekly Update).
• 5 January 2018. Daily prices reached as high as $175/MMBtu (EIA).
• The month. Transco Zone 6 NY averaged $17.67/MMBtu in January 2018, so most days were far below the peak (EIA).

A smaller version recurs every winter. In March 2017, ahead of a late-season storm, the New York price closed at $5.93/MMBtu on Friday 10 March, more than 150% above its close on 6 March, while Henry Hub rose from $2.69 to $3.00 over the report week (EIA).

How is it traded?

Daily trades set the spot price. Monthly exposure is usually hedged as basis: ICE lists a Transco Zone 6 (NY) Basis Future that settles on the Inside FERC monthly bidweek index for Zone 6 NY minus the final NYMEX Henry Hub settlement, in lots of 2,500 MMBtu (ICE). The bidweek index is fixed before the month starts, so it does not capture a one-day spike like January 2018; daily exposure needs the daily price. The basis spreads guide explains how the Henry Hub and basis legs add up to a delivered price.

Why has capacity into the city been slow to grow?

Northeast Supply Enhancement shows the timeline. FERC first approved the project in May 2019. Williams later shelved it, asked FERC in May 2025 to reapprove the expired project, and received a reissued certificate on 28 August 2025 (Oil & Gas Journal). Construction began in April 2026, with a groundbreaking in Brooklyn attended by the U.S. Secretary of Energy and the FERC chairman (Pipeline & Gas Journal). Service is targeted for the fourth quarter of 2027, more than eight years after the first approval.

What to watch

• Northeast Supply Enhancement. Williams began construction in April 2026 on NESE, which adds about 400,000 Dth/d (roughly 400 MMcf/d) of Transco capacity across Pennsylvania, New Jersey and New York, targeting service in the fourth quarter of 2027 (Pipeline & Gas Journal).
• Cold-weather forecasts. The spikes above were all weather-led, and the move from $2.51 to $7.00 in January 2026 took six days.
• Neighbouring hubs. Tetco M3 serves the same corridor on a different pipeline, and Algonquin competes for the same Appalachian and LNG supply further north.

Using the data

NATURAL_GAS_TRANSCO_Z6_NY_USD returns the Transco Zone 6 NY daily spot price in $/MMBtu, one value per trading day. Pair it with NATURAL_GAS_USD (Henry Hub) on shared dates to compute basis; match on date, because Henry Hub rows can include days Zone 6 does not trade. Today's Henry Hub price is on the live natural gas page.