I’m not sure what “low” nat gas prices is, either. If NG is going up, then so is electricity. The last administration fought tooth-and-nail to prevent NG capacity to increase.
Also, building growth is an issue. All being equal, if demand goes up 11%, so does the price.
They’re developing all around me - farm land being turned into houses and I expect that the power companies do nothing to expand capacity and just raise the prices.
At least natural gas works!