US natural gas rises as Texas heat outlook boosts power demand
High temperatures in Houston from August 20-23 are expected to average 100F (38C), up by 5F from the seasonal norm
US natural gas prices surged as scorching heat in Texas prompted consumers to increase usage of air-conditioners, straining gas-fired power plants and the electricity grid. The intense temperatures, forecasted to persist from August 20-23, were anticipated to average 100F (38C) in Houston, a 5F rise from historical norms, according to commercial forecaster AccuWeather.
The Electric Reliability Council of Texas power grid, which manages the state's electricity supply, could witness a record high peak demand during this week's heatwave, primarily due to dwindling wind power generation, noted senior energy analyst Eli Rubin from EBW Analytics Group in a recent report.
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