Some can't pay their gas bills

US natural gas prices rose above $10 per million British thermal units for the first time since 2008 as America exports more liquefied natural gas to hungry markets in Europe and Asia.

Some 20 million households across the US — about one in six American homes — have fallen behind on their utility bills. It is, according to the National Energy Assistance Directors Association, the worst crisis the group has ever documented. Underpinning those numbers is a blistering surge in electricity prices, propelled by the soaring cost of natural gas.
Bloomberg Business…

Natural gas hit $10/therm at the Henry Hub - first time since 2008.

Electricity prices from NG up 43% this year.

If you think it’s bad here, in EU, NG and electricity fuel prices are equivalent to $1000/bbl of oil.

It’s going to be a long hard winter in Germany, England…and much of EU. Not much better in Russia with the economy slated to nose dive 20% or more.


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Natural gas hit $10/therm at the Henry Hub - first time since 2008

There is a units problem here. The Henry Hub futures contracts are in dollars and cents per million BTU, or $/MMBTU. A therm is defined as 100,000 BTU.…

Also, there might have been an intra-day spike above $10 at some point, but I don’t think there has been a daily close above $10. Not lately, anyway.

October currently at $9.231 / MMBTU.…

  • Pete
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