An Obscure Utility Calculation Is Putting a Thumb on the Scale for Gas’ in Georgia
Published . Updated .
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As Georgia Power decides on its next generation of grid suppliers, a little-known piece of math may be giving the edge to fossil fuel projects.
Directly affected
- GPJA Georgia Power-1.1% 6d
Named in this report.
Indirectly affected
- UNG United States Natural Gas Fund-13.5% 30d
United States Natural Gas Fund: it follows natural-gas prices. Linked by “gas” (natural gas) in this story.
- XLE Energy Select Sector SPDR+7.4% 30d
Energy Select Sector SPDR: it follows natural-gas prices. Linked by “gas” (natural gas) in this story.
- XLU Utilities Select Sector SPDR+8.4% 17d
Utilities Select Sector SPDR: it holds power utilities. Linked by “utility” (power and utilities) in this story.
- NEE NextEra Energy+10.5% 30d
NextEra Energy (electric services): power demand and prices drive utility earnings. Linked by “utility” (power and utilities) in this story.
- LNG Cheniere Energy+14.7% 30d
Cheniere Energy (natural gas distribution): gas producers and exporters earn more when gas prices rise. Linked by “gas” (natural gas) in this story.
- DUK Duke Energy+10.2% 30d
Duke Energy (electric and other services combined): power demand and prices drive utility earnings. Linked by “utility” (power and utilities) in this story.
- SO The Southern+13.9% 30d
The Southern (electric services): power demand and prices drive utility earnings. Linked by “utility” (power and utilities) in this story.
- KMI Kinder Morgan
Kinder Morgan (natural gas transmission): gas producers and exporters earn more when gas prices rise. Linked by “gas” (natural gas) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| GPJA | +4.10% | +4.10% | base | after close | after close | after close | after close |
| UNG | -0.59% | +0.69% | base | after close | after close | after close | after close |
| XLE | -4.57% | -2.42% | base | after close | after close | after close | after close |
| XLU | -0.52% | -0.48% | base | after close | after close | after close | after close |
| NEE | +2.03% | +0.97% | base | after close | after close | after close | after close |
| LNG | -7.72% | -1.42% | base | after close | after close | after close | after close |
| DUK | -0.79% | -0.25% | base | after close | after close | after close | after close |
| SO | -0.04% | +0.24% | base | after close | after close | after close | after close |
| KMI | -4.23% | -1.06% | base | after close | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
An Obscure Utility Calculation Is Putting a Thumb on the Scale for Gas’ in Georgia Inside Climate News
Source: Inside Climate News
How far United States Natural Gas Fund (UNG) has moved since 14 Nov 2026
| Company | When | Move | Status |
|---|---|---|---|
| Duke Energy (DUK) | three days earlier | -0.25% | final price |
| Duke Energy (DUK) | five days earlier | -0.79% | final price |
| GPJA | three days earlier | +4.10% | final price |
| GPJA | five days earlier | +4.10% | final price |
| KMI | three days earlier | -1.06% | final price |
| KMI | five days earlier | -4.23% | final price |
| Cheniere Energy (LNG) | three days earlier | -1.42% | final price |
| Cheniere Energy (LNG) | five days earlier | -7.72% | final price |
| Nextera Energy (NEE) | three days earlier | +0.97% | final price |
| Nextera Energy (NEE) | five days earlier | +2.03% | final price |
| Southern (SO) | three days earlier | +0.24% | final price |
| Southern (SO) | five days earlier | -0.04% | final price |
| United States Natural Gas Fund (UNG) | three days earlier | +0.69% | final price |
| United States Natural Gas Fund (UNG) | five days earlier | -0.59% | final price |
| Select Sector Spdr Tr (XLE) | three days earlier | -2.42% | final price |
| Select Sector Spdr Tr (XLE) | five days earlier | -4.57% | final price |
| Select Sector Spdr Tr (XLU) | three days earlier | -0.48% | final price |
| Select Sector Spdr Tr (XLU) | five days earlier | -0.52% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Kevin Hern sold Nextera Energy (NEE) (jointly held), worth $15,001 - $50,000 on 2 Oct 2026. That is 43 days before publication. Filed 13 Oct 2026. View the filing.
- Rep. Kevin Hern sold Nextera Energy (NEE) (jointly held), worth $15,001 - $50,000 on 14 Sep 2026. That is 61 days before publication. Filed 25 Sep 2026. View the filing.
- Rep. Kevin Hern sold Nextera Energy (NEE) (jointly held), worth $1,001 - $15,000 on 2 Sep 2026. That is 73 days before publication. Filed 25 Sep 2026. View the filing.
- Rep. Rohit Khanna bought Duke Energy (DUK) (held by a spouse), worth $1,001 - $15,000 on 25 Sep 2026. That is 50 days before publication. Filed 7 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, sold Duke Energy (DUK), worth $1,001 - $15,000 on 24 Aug 2026. That is 82 days before publication. Filed 8 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, sold Southern (SO), worth $250,001 - $500,000 on 21 Aug 2026. That is 85 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Eqt (EQT) (held by a spouse), worth $1,001 - $15,000 on 27 Aug 2026. That is 79 days before publication. Filed 14 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Eqt (EQT), worth $1,001 - $15,000 on 17 Aug 2026. That is 89 days before publication. Filed 8 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around United States Natural Gas Fund (UNG)
Companies tied to this story
- UNG United States Natural Gas Fund
For “An Obscure Utility Calculation Is Putting a Thumb on the Scale for Gas’ in Georgia,” United States Natural Gas Fund (UNG) is linked, with no stored direction, medium confidence. Reason on file: United States Natural Gas Fund: it follows natural-gas prices. Linked by “gas” (natural gas) in this story
- XLE Select Sector Spdr Tr
In “An Obscure Utility Calculation Is Putting a Thumb on the Scale for Gas’ in Georgia,” Select Sector Spdr Tr (XLE) is linked, with no stored direction, medium confidence. Reason on file: Energy Select Sector SPDR: it follows natural-gas prices. Linked by “gas” (natural gas) in this story
- XLU Select Sector Spdr Tr
Select Sector Spdr Tr (XLU) is linked, with no stored direction, medium confidence in the 14 Nov 2026 story “An Obscure Utility Calculation Is Putting a Thumb on the Scale for Gas’ in Georgia.” Reason on file: Utilities Select Sector SPDR: it holds power utilities. Linked by “utility” (power and utilities) in this story
- NEE Nextera Energy
For “An Obscure Utility Calculation Is Putting a Thumb on the Scale for Gas’ in Georgia,” Nextera Energy (NEE) is linked, with no stored direction, medium confidence. Reason on file: NextEra Energy (electric services): power demand and prices drive utility earnings. Linked by “utility” (power and utilities) in this story
- LNG Cheniere Energy
For “An Obscure Utility Calculation Is Putting a Thumb on the Scale for Gas’ in Georgia,” Cheniere Energy (LNG) is linked, with no stored direction, medium confidence. Reason on file: Cheniere Energy (natural gas distribution): gas producers and exporters earn more when gas prices rise. Linked by “gas” (natural gas) in this story
- DUK Duke Energy
Duke Energy (DUK) is linked, with no stored direction, medium confidence in the 14 Nov 2026 story “An Obscure Utility Calculation Is Putting a Thumb on the Scale for Gas’ in Georgia.” Reason on file: Duke Energy (electric and other services combined): power demand and prices drive utility earnings. Linked by “utility” (power and utilities) in this story
- EQT Eqt
Eqt (EQT) is linked, with no stored direction, medium confidence in the 14 Nov 2026 story “An Obscure Utility Calculation Is Putting a Thumb on the Scale for Gas’ in Georgia.” Reason on file: Eqt (crude petroleum and natural gas): gas producers and exporters earn more when gas prices rise. Linked by “gas” (natural gas) in this story
- SO Southern
Southern (SO) is linked, with no stored direction, medium confidence in the 14 Nov 2026 story “An Obscure Utility Calculation Is Putting a Thumb on the Scale for Gas’ in Georgia.” Reason on file: The Southern (electric services): power demand and prices drive utility earnings. Linked by “utility” (power and utilities) in this story
United States Natural Gas Fund (UNG)
United States Natural Gas Fund (UNG) is the company in “An Obscure Utility Calculation Is Putting a Thumb on the Scale for Gas’ in Georgia,” the 14 Nov 2026 this story story.
The link for United States Natural Gas Fund (UNG) is this: United States Natural Gas Fund: it follows natural-gas prices. Linked by “gas” (natural gas) in this story
A second company, Select Sector Spdr Tr (XLE), is listed for a different reason: Energy Select Sector SPDR: it follows natural-gas prices. Linked by “gas” (natural gas) in this story
Dates and price levels for United States Natural Gas Fund (UNG)
UNG traded between 8.95 and 11.43 across 20 sessions. The latest close on file is 9.34. XLE traded between 63.05 and 70.15 across 20 sessions. The latest close on file is 66.70. XLU traded between 39.10 and 42.88 across 14 sessions. The latest close on file is 42.56.
A simple score for United States Natural Gas Fund (UNG)
46 out of 100
“An Obscure Utility Calculation Is Putting a Thumb on the Scale for Gas’ in Georgia” scores 46 out of 100. The score uses 1 sources, and 8 linked companies.