U.S. Thermal Power Generation

Highlights:

• Natural gas fired power generation is up 6% year-to-date through July 27th, and versus 2020 is up 15%

• Enerwrap has been highlighting surging gas powered generation all year and it appears the strength in gas will continue with natural gas prices low and wind generation growth stalling

• Coal power generation is roughly flat this year versus last

• July 9th saw all-time high gas-fired generation in the U.S.

• Trailing 12M coal generation is down 6.1% versus natural gas Up 5.5%

• Natural gas has been 72% of the U.S. thermal stack thus far in 2024, up from 63% two years ago

Full report attached