EIA: U.S. power sector's natural gas consumption expected to hit record high next year
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Golden Ten Data, July 8 – The US Energy Information Administration (EIA) has released its Short-Term Energy Outlook report, stating that the main driving factors include overall rising electricity demand, expansion of natural gas-fired power units, and relatively low natural gas prices. It is forecast that nationwide natural gas demand will increase slightly this year, followed by a 3% growth in 2027. The report predicts that wholesale electricity prices this summer will be lower than last summer, mainly due to falling natural gas costs for power plants—though summer heatwaves could still cause price spikes. Nationwide, the average wholesale electricity price is expected to be around $45 per megawatt-hour, with the largest declines concentrated in the Western Hub region.
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