RE:Natural gas price in Canada drop below 0 ???Found this explanation in AAV press release of October 27th:
Natural gas pricing in most of North America was strong through the third quarter of 2022, resulting in elevated sales revenues, partially offset by fixed price hedges that were in place prior to the ramp-up.
Locally, AECO pricing was extremely weak during the quarter as a result of ongoing NGTL expansion delays and a regulated tariff structure that inherently drives high volatility. However, Advantage invests in downstream transportation assets to reduce our overall exposure to the AECO market. In anticipation of ongoing AECO weakness, approximately 13% of production remains exposed to AECO for the summer 2023 season (including hedging). The remainder of Advantage production is exposed to markets outside of AECO including Empress, Dawn, Chicago and Ventura.