Natural gas rose almost 10% in a week. Henry Hub spot gas went from $2.90 on September 22 to $3.18 on September 29. That matters to your electric bill too, because natural gas sets the price of much of the electricity in PJM and New England. Here's the honest read: it's a move, not a crisis. Here's what it means for your next contract and what I'd do this week.
This Week in 30 Seconds
- Gas prices climbed: Henry Hub rose from $2.90 to $3.18 per MMBtu over the week, touching $3.21 on September 25.
- Storage is still healthy: 3,351 Bcf as of September 18, 2.9% above the five-year average. EIA expects about 3,969 Bcf by October 31, 5% above average.
- But the East has less cushion: EIA expects the East region, which serves most of our markets, to start winter only about even with its five-year average.
- October 1 resets: Illinois defaults go down for the winter; Rhode Island's go way up.
- My take: if your contract ends in the next six months, get quotes now rather than waiting to see where winter takes prices.
What This Means for You
- Businesses and nonprofits with a contract ending in the next six months: fixed supplier prices tend to follow wholesale gas. This week, several business fixed prices in Pennsylvania and Ohio ticked up between 0.12¢ and 0.23¢ per kWh (see the Rate Watch). That's small, but it's the direction that matters heading into winter.
- Anyone on a utility default price: your price may change October 1. Check the Price to Compare on your next bill, then compare it with a fixed offer. Our Price to Compare by utility page has the official figures we track.
- Schools and local governments: if your board has to approve the purchase, get it on the next agenda now. Offers can expire within days, and a rising market is the wrong time to wait on a meeting. Here's how to set that up.
- Larger, demand-metered accounts: watch capacity costs as well as energy. In PJM, capacity prices have climbed sharply since 2024 (here's what happened).
- Households: in Illinois, the new winter default is lower, so there's no rush. In Rhode Island, it's the opposite.
One honest caveat: nobody can promise where prices go next. Storage is healthy nationally, and gas could just as easily ease back. That uncertainty is exactly why a fixed price has value: it turns a guess into a number you can budget.
Henry Hub Natural Gas Prices
| Date | Henry Hub spot ($/MMBtu) | Change |
|---|---|---|
| Tue, Sept 22 | $2.90 | |
| Wed, Sept 23 | $3.06 | +$0.16 |
| Thu, Sept 24 | $3.00 | -$0.06 |
| Fri, Sept 25 | $3.21 | +$0.21 |
| Mon, Sept 28 | $3.13 | -$0.08 |
| Tue, Sept 29 | $3.18 | +$0.05 |
Source: EIA, Henry Hub natural gas spot price, released September 30, 2026. For context, EIA's September Short-Term Energy Outlook forecast an average of $3.43 for 2026 and $3.28 for 2027.
Natural Gas Storage
Working gas in U.S. storage was 3,351 billion cubic feet (Bcf) as of Friday, September 18, 2026, 95 Bcf above the five-year average and 146 Bcf below last year, according to the U.S. Energy Information Administration. This is the latest weekly report; the next one is due October 1.
| Region | Stocks (Bcf) | Weekly change | vs 5-year average |
|---|---|---|---|
| East | 815 | +20 | +5.2% |
| Midwest | 959 | +25 | +3.5% |
| Mountain | 244 | +3 | +7.0% |
| Pacific | 292 | +3 | +9.8% |
| South Central | 1,041 | +2 | -1.7% |
| Total | 3,351 | +53 | +2.9% |
Source: EIA Weekly Natural Gas Storage Report, released September 24, 2026.
Where winter could start: EIA's September outlook expects U.S. inventories of about 3,969 Bcf on October 31, 5% above the five-year average. Regionally, it expects the Mountain region to start the heating season 21% above average and the Midwest 6% above, but the East about even with average, because the East began the refill season 11% below average after a cold winter. The East feeds most of Pennsylvania, Maryland, and New England, so our markets have a thinner cushion than the national number suggests.
Source: EIA Short-Term Energy Outlook, released September 9, 2026. Next release: October 6.
October 1: Default Prices Reset
- Illinois (down): Ameren Illinois's residential Price to Compare falls from 11.326¢ to 10.441¢ per kWh for the first 800 kWh (8.262¢ above 800 kWh), about 8% lower, through May 31, 2027. ComEd's falls from 10.399¢ to 10.103¢, about 3% lower. See our Illinois guide.
- Rhode Island (up): Rhode Island Energy's residential Last Resort Service rises from 11.092¢ to 17.029¢ (about 54%), and the commercial fixed price from 10.485¢ to 16.581¢, as approved by the Public Utilities Commission. The commercial variable price climbs month by month:
| Month | Commercial variable price (per kWh) |
|---|---|
| October | 13.896¢ |
| November | 14.702¢ |
| December | 17.502¢ |
| January | 19.654¢ |
Sources: Plug In Illinois (Illinois Commerce Commission) and Rhode Island Energy's Last Resort Service tariff (effective October 1, 2026; approved by the Rhode Island Public Utilities Commission on September 24, 2026), both checked September 30, 2026.
- Ohio: default prices at AEP Ohio, Ohio Edison, The Illuminating Company, Toledo Edison, and Duke Energy Ohio were set through September 30. As of September 30, the state's comparison site had not posted the October figures. See our Ohio guide.
What I'd Do This Week
- Find your contract end date. If it's within six months, start shopping now. Our free Energy Contract Checkup takes 10 minutes.
- Compare your price with this week's Rate Watch, including the one market where the default is the better deal right now.
- Get a real quote. Posted prices are a starting point; quotes for your actual account are often lower.
We do the shopping for free. The supplier you choose pays us, and if nothing beats what you pay now, we'll tell you. Click below to start, or send a photo of your bill.
Or skip the form: send us a photo of your bill.
FAQ
Why did natural gas prices go up this week?
EIA's daily price data shows the move but not a single cause. Gas prices respond to weather forecasts, storage, production, and export demand. What matters for you is that fixed supplier prices tend to follow wholesale gas.
Should I lock a fixed price now?
If your contract ends within six months or you're on a utility default price that beats nothing this winter, it's worth getting quotes now. Prices can move either way, so compare real offers for your account before deciding.
Why is Illinois's default price going down?
Illinois utilities set a summer price (June to September) and a lower non-summer price (October to May). The new non-summer Prices to Compare take effect October 1, 2026.
What is Henry Hub?
Henry Hub, in Louisiana, is the benchmark price point for U.S. natural gas. Regional prices, especially in the Northeast in winter, can trade well above it.
How often is this update published?
Weekly. Each update uses the latest public data from the U.S. Energy Information Administration and the utility commissions in our markets.