Posted 1/26/2024, 10:28:00 PM
West Coast Braces for Colder February Weather, Raising Demand for Natural Gas
- Colder, wetter weather expected in West Coast states like Washington, Oregon, and California in early February
- Forward gas prices at SoCalGas and PG&E have rebounded nearly 30% recently due to weather forecasts
- Pacific Region gas storage surplus could continue to narrow with increased winter heating demand
- Los Angeles area temperatures could drop to upper-40s in February, increasing reliance on storage
- SoCalGas pulled over 8.5 Bcf from storage in mid-January during previous cold snap