The cash price of Western Canada’s natural gas price marker of AECO has struggled in June 2025, despite generally stronger natural gas pricing elsewhere in North America and pending LNG exports off Canada’s west coast. As detailed in RBN’s Canadian NatGas Billboard, the average cash price for AECO is just C$1.07/GJ ($0.72/MMBtu) to date in June (red column and text in chart below), marginally ahead of C$0.82/GJ one year ago (green column and text), and is one of the weakest cash prices for the month since C$0.47/GJ was recorded in 2019 (purple column and text), itself the lowest average price ever recorded for June in the era of deregulated natural gas prices (beginning November 1985). Comparatively low prices were last seen in the early 1990s, with 1992 especially soft at C$0.88/GJ (black column and text).
Featured Articles
AECO Natural Gas Cash Price Staring at Record July Low
Undun - Alberta's Natural Gas Market Faces New Price Uncertainties This Summer
Last summer, Alberta natural gas prices staged a remarkable turnaround from the dismal lows and extreme volatility experienced the prior three summers. The price rise is widely credited to a temporary gas flow mechanism put in place by the operator of Alberta’s gas pipeline grid to combat congestion and oversupply issues associated with construction and maintenance during the summer of 2020. However, this temporary mechanism was just that — temporary — and will not be reinstated this summer. Without it, there is concern among Western Canadian gas producers that the weakness and volatility in gas prices seen during past summers might return this year. With warmer weather on the horizon, today we consider these issues and the potential for renewed price weakness in the Alberta natural gas market this year.
Too Low for Zero - Canadian Natural Gas Prices Experience Another Collapse, Record Discounts
We’ve seen this movie one too many times. Just when natural gas prices are rallying across the world to multi-year or historic highs, another monkey wrench gets thrown into the workings of the Western Canadian gas market, imploding its suite of price markers. Last week, gas prices in Western Canada collapsed to mere pennies and even went negative for a time due to an unfortunate combination of pipeline restrictions and record-high production — a situation that will cost the region’s gas industry billions if left unchecked. In today’s RBN blog, we examine the root cause of the latest price collapse and when a turnaround might be expected.
