Snow hit the ground this Thanksgiving weekend – but strong supply availability led to low price settles. The week averaged $31.20/MWh, a 4% decrease week over week. Volatility remains in the forward curve as we are seeing more activity in the market closing out positions for 2020 and taking on risk in 2021.
AECO gas prices remained lower than we’d seen in the summer contract, as mild weather kept demand stagnant week over week. Price averaged $1.70/GJ. The forward curve moved up slightly with anticipation of colder weather.
The UCP government announced this week plans for expanding the natural gas business in Alberta – it includes continuing to support LNG projects, expanding the petrochemical industry and promoting the hydrogen industry.