A new report shows increased use of natural gas to power electric generators across the U.S. which typically would mean good news for natural gas producers in Oklahoma and elsewhere.
However, natural gas prices remain low. Below is the latest data from the U.S. Energy Information Administration.
- U.S. power plant operators generated 6.9 million megawatthours (MWh) of electricity from natural gas on a daily basis in the Lower 48 states on July 9, 2024, probably the most in history and certainly since at least January 1, 2019, when we began to collect hourly data about natural gas generation.
- The spike in natural gas-fired generation on July 9 was because of both high temperatures across most of the country and a steep drop in wind generation.
- According to the National Weather Service, most of the United States experienced temperatures well above average on July 9, 2024. Temperatures were particularly high on the West Coast and East Coast.
- Wind generation in the Lower 48 states totaled 0.3 million MWh on July 9, 2024, much lower than the 1.3 million MWh daily average in June 2024.
