EIA Predicts Higher Natural Gas Prices in 2025/26

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We sometimes poke fun at the U.S. Energy Information Administration (EIA) predictions, accusing the analysts of using a dart board to generate the estimates they issue, especially with the future price of natural gas. But honestly, they have a tough job. Price is a complex issue with a lot of factors. Even though the EIA's track record has sometimes been off by a lot, it remains the one source most quoted by the media and experts worldwide regarding future price predictions. In yesterday's Today in Energy web publication, EIA says it "expects higher wholesale U.S. natural gas prices as demand increases." Its latest forecast for the U.S. benchmark Henry Hub natural gas spot price is that the overall average for all of 2025 natgas will average $3.10 per million British thermal units (MMBtu). EIA expects that number to increase in 2026 to an average of $4.00/MMBtu. Is that realistic?

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