Peyto Exploration & Development Corp T.PEY

gas rate from alberta utility triples in january?

[perplexed01]

i wonder if anyone can explain this?  for many years the utility floating gas rate charged closely tracks the natgas price NG=F (NY mercantile posted on yahoo finance).  i usually cheer when it's up being a pey SH.  but last month utility billed @ $5.65/GJ compared to the recent normal of under $2.  meanwhile natgas prices cant catch a break.  tripling in price implies a shortage but all we see in the media is oversupply. can anyone suggest why this might be?

[Quintessential1]

https://www.gasalberta.com/gas-market/market-prices I hope this helps. GLTY and all 

[perplexed01]

thanks Q!  lots of good info on this website.  doesnt explain why but does confirm there was a 600% price spike  in gas rates from ~$2 to ~$14/GJ  in mid-jan.   anyway very helpful!    

[GregC24]

That are the dates of the deep freeze when everywhere out west (US and Canada) was in a severe need of gas.  Even though lots in storage only so much can be moved in a short period of time.  Price goes up in a short time frame.

[perplexed01]

thanks Greg that helps explain it but it's shocking how a 2-3 day spike causes the utility to triple it's gas rate for a full month!