Natural gas forward prices escalated across the Lower 48 throughout the Feb. 23-March 1 period, with a continuation of winter storms fueling sharp premiums on the West Coast, according to NGI’s Forward Look.

April forward prices remained low overall as benchmark Henry Hub stood Wednesday at $2.819/MMBtu. That has prompted some power generators to make the switch to natural gas from coal to meet electricity demand. Freeport LNG also continues to take in more deliveries of gas to feed its liquefied natural gas terminal. In addition, some technical momentum has come into play in recent days.

Still, it’s harsh late-season cold, continued pipeline constraints, years of underinvestment in infrastructure and lagging West Coast storage inventories that helped propel April prices in...