The shift away from gas-fired generation is accelerating as renewable energy sources claim a larger share of the U.S. power grid, according to data from NatGasWeather.com. This transition has dampened the typical price benefit utilities usually see during high-temperature months when cooling demand peaks.

Simultaneously, market analysts surveyed by The Wall Street Journal suggest that natural gas inventories are maintaining a steady trajectory. Projections indicate a normal-sized build for last week, a result that leaves the current storage surplus hovering near the five-year average. With supply levels remaining consistent, utility companies face a challenging environment where even increased consumption fails to provide a meaningful lift to the bottom line.