Temperatures 10 to 25 degrees below normal in the U.S. southeast ramped up requirements for power generation in that region and low natural gas market prices likely contributed to some coal-to-natural gas switching to meet that load during the past several weeks.
With that said, acquisition price movements for natural gas, even considering the elevated heating and power generation loads, have been subdued. That is, of course, due to the strong supply position for natural gas today, which is expected to continue through the winter heating season.
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