Henry Hub natural gas prices this summer were 6% lower than last summer

What happened: The Henry Hub natural gas spot price averaged $2.93 per million British thermal units from June through August, 6% less than the same period last year, despite exceptionally hot weather. Key numbers: $2.93/MMBtu summer average, 6% lower year over year. July Lower 48 average temperature 77°F, warmest ever for the month. Why it matters: Increased renewable generation, record production, and ample inventories limited upward pressure on prices even as heat drove electricity demand. Maintenance at LNG terminals moderated demand growth from that sector.

The Henry Hub natural gas spot price averaged $2.93 per million British thermal units from June through August, 6% less than the same period last year, despite exceptionally hot weather.

Increased renewable generation, record production, and ample inventories limited upward pressure on prices even as heat drove electricity demand. Maintenance at LNG terminals moderated demand growth from that sector.