# Perfect Storm Fuels Massive Natural Gas Price Spikes on West Coast; Northern California Hits $55/MMBtu

> Frigid temperatures and heavy precipitation on the West Coast drove spot natural gas prices to historic highs, with Northern California reaching $55/MMBtu. Storage inventories were low, drought cut hydroelectric output, and regional utilities had trouble receiving coal deliveries. Prices reached levels not seen since summer 2018.

- Date: 2022-12-09 · published 2022-12-09T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/11512-perfect-storm-fuels-massive-natural-gas-price-spikes-on-west-coast-northern
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Low storage combined with drought-reduced hydro and coal supply makes regional gas balances very tight, pushing prices sharply higher. The spike highlights how regional shortages can quickly lift gas costs for power generation and industrial users.

## Read by commodity

- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2022-12-08 | [Modest Storage Draw Fails to Stop Natural Gas Futures Price Rally; West Coast Cash North of $30/MMBtu](https://feedsoft.ai/events/11511-modest-storage-draw-fails-to-stop-natural-gas-futures-price-rally-west-coast.md) | +27.9% | -29.6% |
| NATGAS | 2019-01-14 | [Natural gas prices spike 13 percent on forecasts for long, severe cold](https://feedsoft.ai/events/9209-natural-gas-prices-spike-13-percent-on-forecasts-for-long-severe-cold.md) | +14.3% | -10.7% |
| NATGAS | 2018-11-06 | [Natural gas prices surge on surprise forecast for cold US weather](https://feedsoft.ai/events/6487-natural-gas-prices-surge-on-surprise-forecast-for-cold-us-weather.md) | +9.1% | +24.8% |
| NATGAS | 2021-02-16 | [Natural Gas Prices Hit Historic $999/MMBtu High as Unrivaled Cold Strains Supply, Fuels Record Demand](https://feedsoft.ai/events/48844-natural-gas-prices-hit-historic-999-mmbtu-high-as-unrivaled-cold-strains-supply.md) | -27.6% | -40.0% |
| NATGAS | 2020-09-14 | [Natural Gas Ends Higher on Storm Concerns -- Market Talk - WSJ](https://feedsoft.ai/events/6768-natural-gas-ends-higher-on-storm-concerns-market-talk-wsj.md) | -14.6% | +18.7% |

## Sources

- naturalgasintel.com: https://naturalgasintel.com/news/perfect-storm-fuels-massive-natural-gas-price-spikes-on-west-coast-northern-california-hits-55mmbtu/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.