For the very first time, on 28 August 2023, the United States met more than of half of its electricity demand from natural gas. It encapsulated a summer during which gas-fired electricity generation grew dramatically. In just the past two years, its share of the power mix rose from 40 to 45 percent for the summer months of July and August.
A confluence of factors, including a significant drop in the price of natural gas, coal plant retirements, low output from wind and hydropower, and high cooling demand in some regions caused the share of gas to increase. By contrast, the share of coal-fired generation declined from 23 to 17 percent over the same period.
Diversified Energy Company plc (LON:DEC), formerly Diversified Gas & Oil plc, is a gas and oil production company operating in the Appalachian Basin in the United States.
