Once the third largest spender on natural gas, electricity generators now account for 31% and take on the biggest share of natural gas expenditures, according to a recent report from the U.S. Energy Information Administration (EIA). 

The sector, already the dominant natural gas consumer, rose to the top of spending in 2021, when natural gas prices began to surge. From 2020 to 2022, “natural gas prices for the sector nearly tripled,” EIA said. 

U.S. natural gas consumers paid 37% more for a comparable amount of natural gas in 2021 compared with 2020, according to EIA. 

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The nearly 40% increase – adjusted...