Energy prices are on the rise this summer, as July marks a shift from stability to upward momentum across natural gas and power markets. Henry Hub gas prices are up 24% year-over-year, fueled by tightening storage levels, high power-sector demand, and ongoing weather risks tied to an active hurricane forecast.
Electricity prices are following suit, with PJM, NYISO, and ISO-NE all seeing month-over-month increases in forward power prices. Record-breaking heat across the Eastern U.S. pushed grid demand to seasonal highs, narrowing reserve margins and amplifying volatility.
As the cooling season intensifies and winter contracts approach, energy users face higher costs and increased risk. Strategic hedging, capacity management, and demand planning remain critical to mitigating budget impacts in the months ahead.
