EIA Dec. STEO Raises Winter HH Spot Gas Price Forecast by 40 Cents

The U.S. Energy Information Administration (EIA) issued its latest monthly Short-Term Energy Outlook (STEO) yesterday. The STEO is the agency’s monthly best estimate of where energy prices and production will head over the next 12 months. In this latest assessment, EIA forecasts the cold snap hitting the United States this month will drive the Henry Hub natural gas spot price to average almost $4.30 per million British thermal units (MMBtu) this winter, which is 40 cents/MMBtu higher than its November forecast of $3.90. The price increase is driven by increased natural gas consumption for space heating.

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