Widespread US heat drove natural gas-fired power generation sharply higher during the latest EIA storage week, lifting utility demand even as wind output faded. Natural Gas Intelligence pegged the resulting storage injection slightly below the five-year norm.
Power burn climbed as a heat wave spread across the US, pushing utilities to lean harder on natural gas-fired generation during the latest US Energy Information Administration storage week. Natural Gas Intelligence reported that gas power burn rose 11% week/week as the demand surge took hold.
The heat pulled overall utility demand up with it. Utility demand gained 3 Bcf/d over the week, according to NGI, while wind output ceded ground.
Even with the stronger burn, the build in storage held close to seasonal norms. NGI modeled a 44 Bcf injection for the week, pointing to a build slightly below the five-year average.
That estimate sits under recent seasonal reference points. The 44 Bcf figure would compare with a year-ago injection of 47 Bcf and the 45 Bcf five-year average, NGI said in a related storage projection. NGI has the same week’s inventories on track to surpass 3 Tcf despite the lingering heat.
Sources: Natural Gas Intelligence (snippet-based), Natural Gas Intelligence (snippet-based)
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