Electricity rates in Texas are greatly affected by the price of natural gas on the commodities market. In 2009, 42 per cent of the state’s electricity was produced with natural gas, with an even higher percentage during periods when electricity demand is high.
Natural gas prices peaked at above $13 per MMBtu during mid-2008. Prices averaged $4.54 per MMBtu in the first nine months of 2010 per the PUCT.
Spot prices at the Henry Hub, as reported at the New York Mercantile Exchange (NYMEX), decreased $0.24 to $4.22 per million Btu (MMBtu) during the week ending Wednesday, December 15, 2010.
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