Commodities
California Natural Gas Generation Roars Back Amid Summer Heat Wave
Natural gas-fired generation in California has surged to a three-year high due to a Southwest heat wave and a slump in solar output. The state's grid had to rely more heavily on thermal plants, which sent regional spot prices sharply higher after months of abundant supply.
According to data, natural gas generation hit 3-year highs in late August, with supplies accounting for nearly half of the power generated. This was a result of the battery buffer meeting summer limits.