Gas-Fired Growth
September's 3.1% Increase in Gas Burn
𝙒𝙝𝙖𝙩 𝙘𝙖𝙪𝙜𝙝𝙩 𝙢𝙮 𝙖𝙩𝙩𝙚𝙣𝙩𝙞𝙤𝙣? US gas burn for electric power reached 40.9 Bcf/d in September, a 3.1% increase compared with September 2023 (39.7 Bcf/d), and the highest daily rate of electric power deliveries for the month since the EIA began using the current methodology in 2001.
𝙒𝙝𝙮 𝙞𝙩 𝙢𝙖𝙩𝙩𝙚𝙧𝙨? Gas-fired generation is marginal source of power in most markets, with coal retirements and growing load (from electrification, data centers, etc.) increasing demand for gas historically more than offsetting growth in solar, wind and BESS capacity.
A key marker in the energy transition will be when this trend plateaus, and ultimately declines. No sign of that change yet.
𝙇𝙞𝙣𝙠𝙨: