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Why Record Heat Failed To Lift US Natural Gas Prices
Why Record Heat Failed To Lift US Natural Gas Prices
Authored by Julianne Geiger via OilPrice.com,
Henry Hub natural gas averaged $2.93 per million British thermal units from June through August, 6% below the same period last year, even with the Lower 48 posting its hottest July on record.
Average temperatures across the Lower 48 reached 77°F in July, according to NOAA, pushing electricity demand higher as air conditioners ran harder.
Solar and wind took a large share of that extra power demand.
Solar generation increased by an estimated 19.4 billion kilowatt-hours from June...
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