Natural gas spot prices averaged $3.26/MMBtu for June 2021, the highest price during any summer month (April-September) since 2014. Things have only gotten pricier thus far in July, with the average cost during the first two weeks of the month at $3.67. There have been a number of contributing factors to the price run, but the main driver is the ongoing concerns regarding a tight supply/demand balance. Excessive heat in certain regions (notably the Northwest) has led to elevated demand for natural gas-fired generation (an increase of 50% compared to last year) to offset hydroelectric generation (down 20% from last year). Also, a continued strong LNG export presence has this tight market squeezing tighter.