NatGas Grew Its Share of Electric Power 7% in 2023, New Record High

Yesterday the U.S. Energy Information Administration (EIA) published a post to announce that U.S. natural gas consumption set annual and monthly records during 2023. In 2023, some 89.1 billion cubic feet per day (Bcf/d) of natural gas was consumed in the United States, the most on record. Since 2018, U.S. natural gas consumption has increased by an average of 4% annually. Why the significant increase in gas usage? It wasn't due to residential, commercial, or industrial usage --- all of which stayed even or decreased last year. It was (as you may have guessed) a huge increase in the use of natural gas to feed gas-fired power plants.

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