WASHINGTON — The Henry Hub spot price for natural gas averaged $3.90 per MMBtu in September, 15 cents lower than the August average, according to the U.S. Energy Information Administration’s (EIA) Short-Term Energy Outlook report released Oct. 12. EIA expects that Henry Hub spot prices will fall further in October, before rising above $4 per MMBtu in December.
The report lowers the 2011 forecast by 5 cents to $4.15 per MMBtu, 24 cents less than the 2010 average. Although the average 2011 spot natural gas price is lower than the 2010 average, the forecast price over winter 2011-12 is higher than last winter’s average.
EIA expects this winter’s heating season will start with an average Henry Hub spot price of $3.78 per MMBtu in October, and that the price in 2012 will average $4.32 per MMBtu.