Business fixed electricity prices fell this week at every utility we could compare, by 0.05¢ to 0.56¢ per kWh, and that's the fresh number, because EIA has not posted new gas prices or a new storage report since our last update. The last storage reading stands: 3,644 Bcf as of October 16, 35 Bcf (1.0%) above the five-year average. The next report is due Thursday, October 29. Here's what the week's drop means for your next contract, and what's coming on the calendar: Rhode Island's default rises on November 1, and Pennsylvania's major utilities reset on December 1.
This Week in 30 Seconds
- Posted business prices fell: at the same term, fixed prices were lower than last week at all 22 utilities we could compare, across Pennsylvania, Ohio, Maryland, New England, New Jersey, and Maine (see the Rate Watch).
- Storage is unchanged since our last update: 3,644 Bcf as of October 16, 35 Bcf (1.0%) above the five-year average and 152 Bcf (4.0%) below last year. EIA's next report is due October 29.
- Gas prices, latest reading: Henry Hub was $3.10 on October 20, in a range of $3.10 to $3.30 since October 12. EIA's next price update is due October 28.
- Electricity is the bigger story for PJM states: EIA's October outlook expects PJM wholesale power prices to average 41% higher in 2026.
- Defaults keep moving: Rhode Island's business default rises to 14.702¢ on November 1 and keeps climbing into January, and Pennsylvania's major utilities reset their defaults on December 1.
- My take: a drop is a good moment to get a real quote, not a reason to wait for a bigger one. If your contract ends in the next six months, start now.
What This Means for You
- Businesses and nonprofits with a contract ending in the next six months: posted prices fell this week, and nobody can promise they keep falling. The useful comparison is your current price against a real quote, not against last week's posted price. Our Rate Watch shows where the gaps to the default are widest.
- Anyone on a utility default price: 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 winter 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), and EIA now expects PJM wholesale power to be up 41% this year.
- Households: in Ohio, the defaults are posted and fixed prices are below them. In Illinois, the winter default is lower, so there's no rush. In Rhode Island, the default is moving the other way.
One honest caveat: nobody can promise where prices go next. Storage is still above average nationally, and gas could just as easily firm up or ease off. 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 |
|---|---|---|
| Mon, Oct 12 | $3.10 | |
| Tue, Oct 13 | $3.14 | +$0.04 |
| Wed, Oct 14 | $3.22 | +$0.08 |
| Thu, Oct 15 | $3.30 | +$0.08 |
| Fri, Oct 16 | $3.22 | -$0.08 |
| Mon, Oct 19 | $3.28 | +$0.06 |
| Tue, Oct 20 | $3.10 | -$0.18 |
Source: EIA, Henry Hub natural gas spot price, latest data posted October 21, 2026 (through October 20); no newer data was posted as of October 26. EIA's October Short-Term Energy Outlook forecasts an average of $3.48 for 2026 and $3.16 for 2027.
Natural Gas Storage
Working gas in U.S. storage was 3,644 billion cubic feet (Bcf) as of Friday, October 16, 2026, up 77 Bcf for the week. That is 35 Bcf (1.0%) above the five-year average and 152 Bcf (4.0%) below last year, according to the U.S. Energy Information Administration. This is still the latest weekly report; the next one is due October 29.
| Region | Stocks (Bcf) | Weekly change |
|---|---|---|
| East | 900 | +16 |
| Midwest | 1,065 | +28 |
| Mountain | 257 | +2 |
| Pacific | 297 | +3 |
| South Central | 1,125 | +28 |
| Total | 3,644 | +77 |
Source: EIA Weekly Natural Gas Storage Report, released October 22, 2026. Regions may not sum exactly to the total because of independent rounding. The East region, where many of our Pennsylvania, Ohio, Maryland, and New England customers sit, was 900 Bcf, 2.7% above its five-year average.
What EIA expects for winter: its October outlook says homes that heat with natural gas are expected to spend less than last winter, while electrically heated homes are expected to spend slightly more. It assumes temperatures similar to last winter and the 10-year average. Heating-oil homes, mostly in the Northeast, face prices more than 30% higher. And for wholesale electricity, EIA expects the 2026 U.S. average to be $52 per MWh, 11% above 2025, with PJM up 41%. If your supply contract rides the market, that's the number to watch.
Source: EIA Short-Term Energy Outlook, released October 6, 2026 (the latest edition). Next release: November 10.
Default Prices to Know
- Rhode Island (up): the commercial variable price climbs month by month, as approved by the Rhode Island Public Utilities Commission. The November step takes effect in days:
| Month | Commercial variable price (per kWh) |
|---|---|
| October | 13.896¢ |
| November | 14.702¢ |
| December | 17.502¢ |
| January | 19.654¢ |
Source: Rhode Island Energy's Last Resort Service tariff (effective October 1, 2026; approved by the Rhode Island Public Utilities Commission on September 24, 2026).
- Pennsylvania: PPL, PECO, Met-Ed, Penelec, Penn Power, and West Penn Power next change their default prices on December 1, 2026. See our Pennsylvania guide and Price to Compare by utility page.
- Maryland homes: October default supply prices (supply plus transmission) as published by the Maryland Office of People's Counsel and the Potomac Edison tariff. See our Maryland guide.
| Utility | Home default price (per kWh) |
|---|---|
| BGE | 15.284¢ |
| Pepco | 14.782¢ |
| Delmarva Power | 13.162¢ |
| Potomac Edison | 10.605¢ |
| SMECO | 11.607¢ |
Source: Maryland Office of People's Counsel, October 2026 figures; The Potomac Edison Company Maryland tariff, Schedule R. Checked October 11, 2026.
- Ohio homes: the October default prices are posted by the Public Utilities Commission of Ohio. The next change is January 1, 2027. See our Ohio guide.
- Illinois (lower for winter): Ameren Illinois's residential Price to Compare is 10.441¢ per kWh for the first 800 kWh through May 31, 2027, and ComEd's is 10.103¢ (Plug In Illinois). See our Illinois 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.
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FAQ
Why does this update repeat last week's storage numbers?
EIA publishes its storage report on Thursdays and Henry Hub prices on Wednesdays. This update went out before the next release, so the latest public readings are the ones shown, with their dates. We'll update them in the next edition.
Should I lock a fixed price now?
If your contract ends within six months or you're on a utility default price, it's worth getting quotes now. Prices can move either way, so compare real offers for your account before deciding.
Why does EIA expect PJM power prices to rise?
EIA's October 2026 outlook says the 2026 average wholesale price in PJM is expected to be 41% higher than in 2025, driven largely by extreme weather earlier in the year, including a winter storm and a hot summer.
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.