U.S. power generators set a new record for natural gas consumption on Tuesday, as temperatures peaked on the hottest day of the summer so far, according to preliminary data from the financial firm LSEG. Amid a backdrop of extreme weather events, the memory of the February 2021 Texas freeze and the August 2020 California heat wave—which disrupted power for millions—still lingers in public consciousness.
On Tuesday, power plants across the country consumed approximately 54.2 billion cubic feet per day (bcfd) of natural gas, surpassing the previous record of 52.8 bcfd set on July 28, 2023. This spike in demand was driven by an increase in air conditioning use as temperatures soared. However, natural gas consumption slightly decreased in the following days, with 51.8 bcfd used on Wednesday and 50.5 bcfd on Thursday, as temperatures moderated somewhat due to the remnants of Hurricane Beryl passing from Texas to Michigan.
A billion cubic feet of gas can power about five million U.S. homes for a day, underscoring the significant energy demands during peak usage. Power prices mirrored the rise in temperature, reaching their highest levels since January in regions including Southern California, New England, the Pennsylvania-New Jersey-Maryland area, and the Pacific Northwest, as reported by LSEG.
In Arizona, where temperatures hit a scorching 118 degrees Fahrenheit (47.8 Celsius), power prices climbed to their highest point since August 2023. LSEG also noted that with an average temperature of 81.2 degrees Fahrenheit across the Lower 48 states, Tuesday was officially the hottest day of the summer.
This surge in temperature and subsequent power demand comes as global climate indicators signal urgent warnings. The European Union’s Copernicus Climate Change Service (C3S) reported that last June was the hottest month on record. This has prompted warnings from scientists that 2024 might become the hottest year globally. Climate experts continue to stress the need for significant reductions in greenhouse gas emissions and fossil fuel consumption to mitigate the impact of increasingly severe heatwaves and other climate-related phenomena.
