About 10 percent more energy will be needed to cool homes and businesses along the U.S. East Coast until Aug. 15 as temperatures linger just above normal, said David Salmon, owner of Weather Derivatives in Belton, Missouri.
Temperatures are expected to stay 3 to 4 degrees Fahrenheit (1.7 to 2.2 Celsius) above normal through Aug. 22, according to MDA EarthSat Weather in Gaithersburg, Maryland.
In the Midwest, seasonal temperatures this week will probably be replaced by another round of heat next week, MDA said. Temperatures may rise 5 to 7 degrees above normal across the region from Aug. 13-22.
Natural gas futures traded on the New York Mercantile Exchange have risen 53 percent since dropping to a 10-year low in April as higher-than-normal temperatures helped spur demand for the fuel from power plants.
-With assistance from Naureen S. Malik in New York. Editors: Charlotte Porter, Richard Stubbe