Record Summer Heat Fails to Lift US Natural Gas Prices

Natural gas prices at Henry Hub declined by 6% to an average of $2.93 per million British thermal units between June and August, despite record summer heat in the US.

The Lower 48 experienced its warmest July ever documented, with temperatures averaging 77 degrees Fahrenheit, driving up electricity consumption as cooling systems worked harder.

However, solar output climbed by roughly 19.4 billion kilowatt-hours during the June-to-August window relative to the same months in 2025, while wind power contributed an extra 9.3 billion kilowatt-hours.

The Energy Information Administration estimated that generation from natural gas rose by 7.5 billion kilowatt-hours over the summer.