U.S. Natural Gas Power Generation Hits Record High Despite Soaring Prices

Natural gas consumption for power generation in the United States hit a record high in July, spiking at 6.37 million megawatt-hours on July 21, just as legislators were discussing billions in investments in renewables. The reason for that spike was not enough coal generation, according to the Energy Information Administration. It’s interesting to note that the increase in gas-powered electricity generation in July happened despite higher gas prices, themselves the consequence of higher U.S. LNG exports to energy-starved Europe. U.S. benchmark…