Gas-fired power demand set to rise May 18-20 Elevated cooling demand outpaces year-ago levels Hot temperatures forecast to cool by May 22 Natural gas-fired power demand and regional spot gas prices should remain elevated in the near term as record-breaking heat is expected across Texas and the Midcontinent through May 20.
The National Weather Service predicted that much of north-central Texas, Oklahoma, and the Central Plains will see highs in the 90s and 100s Fahrenheit, around 20-30 degrees above normal, which will likely tie or break existing records for this time of year. In Texas, Houston Ship Channel spot gas climbed to $8.195/MMBtu in May 18 trading for next-day flows, according to preliminary settlement data, up around 50 cents from just two days earlier on May 16. Cash Houston Ship Channel has averaged $7.60/MMBtu […]