U.S. natural gas consumption reached record daily high in late December 2022

On December 23, 2022, natural gas consumption in the U.S. Lower 48 states reached a daily record high of 141.0 billion cubic feet (Bcf), according to estimates from S&P Global Commodity Insights. The previous record was 137.4 Bcf, set on January 1, 2018. Below-normal temperatures in mid- to late December increased demand for natural gas used for residential and commercial space heating and electric power generation. At the same time, natural gas production quickly fell because of mechanical issues caused by the cold temperatures.