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April spot natural gas prices fall in spite of cool weather

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April spot natural gas prices fall in spite of cool weather

Spotnatural gas prices were down year over year in April even as temperatures werecooler versus the year-ago period.

Duringthe month, spot prices in the northeast averaged the highest of all regions at $1.963/MMBtu,and posted both the largest gain versus the prior month and the lowestyear-over-year decline.

CoolApril temperatures drove natural gas demand, particularly in New England,helping to bolster the region's spot prices.

Accordingto the U.S. National Oceanic and Atmospheric Administration, gas home heatingcustomer-weighted heating degree days, a proxy for natural gas demand for spaceheating, were 0.9% above normal and 3.2% above last year in New England. Inthe Middle Atlantic, cooling degree days were 7.4% above the year-ago level. Ona nationwide basis, heating degree days were 7.6% below normal but 5.7% abovethe year-ago level for the month.

Alongthe Algonquin Gas TransmissionLLC system, average daily gas utility demand was 17% higher yearover year at 828,677 Dth/d during the month. Meanwhile, gas utility demandaveraged only 0.8% higher at 1.82 Bcf/d in Transcontinental Gas Pipe Line Co. LLC Zone 6 NY overthe same period.

Theboost in gas utility demand in New England cushioned the year-on-year pricedecline at hubs along TennesseeGas Pipeline Co. LLC and Algonquin relative to other demandcenters. By contrast, spot prices in Transco Zone 6 were down over 30% yearover year.

Marketprices and included industry data are current as of the time of publication andare subject to change. For more detailed market data, including our power, natural gas and coal index prices, as well as forwards and futures, visit our Commodities Pages. To viewoperational statistics on interstate natural gas pipelines, go to our PipelineSummary Page. To view natural gas operational flow data for receiptor delivery points, go to our OperationalCapacity by Point Page.