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Daily Prices

8/30/24

Baseload Natural Gas Prices Maintain Downward Moves on Second Day of September Bidweek

By Chris Newman

on
Published in: Bidweek Alert Filed under:

The second day of natural gas bidweek trading Tuesday saw baseload prices maintain a weakening trend ahead of the autumn season, according to NGI’s Bidweek Alert (BWA).

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NOVA Aeco C Bidweek Prices

While overall deal volumes dropped off from Monday levels, some hubs saw an uptick in activity day/day. One such hub was NOVA/AECO C in Canada, which led all locations for volume at 100 total deals, up from 62 on Monday.

NOVA/AECO C fixed price deals averaged at C65.0 cents/GJ on day 2 of September Bidweek. The hub averaged at C70.0 cents on Monday and 88.0 cents for August, BWA data show. Cash prices in Alberta have sunk to five-year lows amid excess Canadian gas supply that has forced producers to curtail output.

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Chris Newman

Chris Newman joined NGI in October 2023. He worked 18 years at Argus Media, starting in 2004 in Washington, D.C., where he covered U.S. thermal/coking coal markets and rail transportation. In 2014, he moved to Singapore to help lead Argus’ coverage of steel and its raw material feedstocks. A graduate of the University of Virginia, Chris returned to his native Virginia in 2021.