It may be tempting to bet that this time will be different, but such bets often prove folly. Utilities have remained one of the best places to park money in summer and seasonality suggests this year won't be different. Why do utilities tend to lead? There are a few reasons.

1. Investors tend to de-risk before summer vacation season to avoid "surprises" when they return.
2. Natural gas prices tend to strengthen thanks to peak summer cooling demand, boosting marginal spot rates for electricity.
3. Regulatory rate increases take effect.

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