EIA cuts spring-summer gas price forecast as demand falls

06/18/2001
Falling US demand for natural gas to fuel electric power generation in the first 5 months of the year helped send gas prices plunging and led to higher than expected injections into storage, said the US Energy Information Administration in its June assessment.EIA estimated electric utility demand for gas fell 16% during January-May from year-ago levels, as electric utilities turned to other fuels because of high gas prices. Mild weather also held gas and power demand down, the agency said.Meanwhile, industrial demand, which was generally flat or negative in the first 4 months of this year, began to turn around in May as gas prices fell and the differential between gas and fuel oil prices ...
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