NGI - Weekly Natural Gas Prices Advance as Scorching Summer Heat Grips Western U.S.

July 9, 2021 – Natural Gas Intelligence

Weekly Natural Gas Prices Advance as Scorching Summer Heat Grips Western U.S.

By: Kevin Dobbs

The California Independent System Operator on Friday asked residents to voluntarily conserve electricity to help ease strain on the state’s power grid. The National Weather Service issued excessive heat warnings through the weekend for large swaths of California and neighboring states.

RBN Energy LLC analyst Jason Ferguson said the combination of near-record heat, widespread drought and limited hydropower would continue to drive robust demand for natural gas in California and the Southwest, even as policymakers place increased emphasis on solar and wind power.

“California and many of its neighbors remain heavy consumers of natural gas, despite their focus on renewable generation,” he said.

In the Southwest, El Paso S. Mainline/N. Baja rose 29.0 cents to $6.070.

Several hubs in the Mountain West also posted solid gains, with Questar up 10.5 cents to $3.715 and Stanfield ahead 10.5 cents to $3.775.

Read the full article here: https://www.naturalgasintel.com/weekly-natural-gas-prices-advance-as-scorching-summer-heat-grips-western-u-s/