Short-Term Energy Outlook Forecasts Strength in Production. On March 8, EIA released the Short-Term Energy Outlook, which includes projections through 2012. Production in 2010 grew 4.4 percent to 61.8 Bcf per day. EIA forecasts production to continue to grow, but at slower annual rates of 0.8 percent in 2011 and 0.9 percent in 2012. EIA expects that the Henry Hub spot price will average $4.10 per MMBtu in 2011, a drop of $0.29 per MMBtu from the 2010 average. EIA expects the natural gas market to begin to tighten in 2012, with the Henry Hub spot price increasing to an average of $4.58 per MMBtu. Increasing consumption in 2012, led by strong growth in the electric power sector, contributes to higher 2012 prices and to an economic incentive for producers to resume drilling. At the end of the 2010-2011 winter heating season, EIA expects that about 1,549 Bcf of working natural gas will remain in storage.