No Fall in Fall Temps

March 11, 2024

October and November may be “shoulder” months when energy demand has traditionally been the lowest, but times are changing.  According to NOAA, you should not expect a comfortable cooling off in temperatures this Fall.  NOAA’s seasonal temperature outlook map for fall is solid shades of red across the L48.  Retail electricity markets served by ENGIE Resources are either “leaning above” or “likely above” normal in NOAA lexicon.  This is probably no surprise in the era of climate change and global warming.  January was the warmest on record and NOAA predicts that 2024 has a one-in-three chance of being the hottest year on record, surpassing records reached in 2023.  According to EIA, Henry Hub natural gas spot prices averaged $4.454/mmbtu in this time period in 2023.