The price of natural gas eased up in the past week as cooler-than-expected temperatures lowered power generation and gas demand.
Those walking their dogs on Texas evenings with a heat index of 106 degrees might be skeptical of the previous sentence, but fake news it is not. A wide swath of below-average or slightly below-average temps is sweeping on a southwest trend from North Dakota through the plains toward Florida. On the East Coast, heavy rains are causing flash floods from the Carolinas to New England.
Extreme heat from California to Texas counters that potential market but that region is also home to significant renewable power generation. But here’s the thing, as noted by Envantage Inc.: wind generation tends to be reduced during peak electricity demand times in the summer.