Southeast Hubs See Natural Gas Prices Surge Amid Record Heat

Natural gas forward prices rose during the September 9-16 trading period as record heat in September kept power burn at summer levels across the South, leading to lower-than-normal storage injections.

The Southeast hubs saw a significant increase of more than 20 cents per million British thermal units (MMBtu), while the Waha discount deepened by 22 cents. Power burn ran about 7 billion cubic feet per day (Bcf/d) above its 2025 average, further straining gas supplies.

The September heat kept power burn at summer levels across the South, a trend that is expected to continue into October.