The Pittsburgh Post-Gazette reported Tuesday on a report by the U.S. Energy Information Administration saying natural gas storage inventories are still below the five-year average. 

The amount of natural gas being put in storage which utilities use during the winter has triple digit increases over the last eight weeks.

EIA expects replenishment to slow during July as utilities use the natural gas to meet summertime electric demands.

Natural gas prices are still around $4.12 to $4.15 per MMBtus with about 18 to 19 weeks left to pump gas into storage.

At a state Senate Consumer Protection and Professional Licensure Committee hearing in April on why electricity prices spiked so dramatically in January, the PJM Interconnect reported natural gas prices increase to from $60 to $100 per MMBtus.  PJM also said natural gas delivery problems to utilities pushed electricity prices to the $1,000 per MwH ceiling imposed by PJM.  Click Here for a summary.

NewsClip: After Harsh Winter, Natural Gas Stocks Being Replenished

7/21/2014