Commodities
US Natural Gas Power Generation Dips Amid Rising Wind and Solar Output
Natural gas-fired power generation in the US has dropped from its nearly one-year high due to an increase in wind and solar output, according to the latest weekly report from the Energy Information Administration (EIA).
During the EIA's storage week, natural gas-fired power generation averaged 254 gigawatts (GW), down from a peak of around 273 GW. This decrease is attributed to a significant increase in wind and solar output, which rose by 7%.
The higher spot prices for natural gas were partially offset by the increased production amid regional summer heat. NGI models indicate a 35 Bcf injection into storage for this week.