Texas Heat Could Increase Natural Gas Prices This Summer

Once again, it’s supposed to be a scorching hot summer in Texas, with record breaking electricity demand. And why not? Texas has 29 million people, regularly sees temperatures rise into the 90s and 100s on sweltering summer days, and is easily our largest power consumer, using 50% more electricity than California. Nearly 100% of homes in Texas use air conditioning, versus less than 60% in California. During hot summers, 50% of all power demand in Texas is to power air conditioners. Moreover, Texas’ unique position as a major energy producer and exporter means more energy usage, as the supply chains involved require lots of power: “Another sign of Permian boom: record electricity demand.” An “it takes energy to make energy” sort of thing.