"Following a hot summer, gas supplies were low, raising concerns about price shocks this winter."
"Natural gas prices have surged, reverberating across the energy economy.
U.S. gas prices hit $5 per million BTUs this month, about double the price of six months ago and the highest September price since 2008.
I reached out to some experts to get a sense of whether the recent trend is just a hangover from the pandemic that will quickly resolve or a sign that we are entering a new era of higher prices.
An increase in natural gas prices leads to price hikes across the economy for home heating, fertilizer, chemicals—and wholesale electricity, because of the power sector’s heavy reliance on gas-fired power plants.
Gas has been cheap in the United States for more than a decade, a result of the vast supply producers unlocked through fracking in shale formations. Low gas prices have contributed to low electricity prices."
Dan Gearino reports for Inside Climate News September 23, 2021.
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