Energy trading isn't too different from other commodities, though it tends to be way more volatile. Most of the contracts are handled through ISOs (independent system operators) who handle specific regions, so it's not easy for a retail trader to get in on.

Overall it breaks into daily and long term contracts. Daily options typically trade hourly and cover generation and transportation (wheeling) costs. Long term plays are usually about securing rights at specific plants.

Personally, in a situation like this, I'd recommend taking transmission contracts on NG. Most of the Texas grid runs on it and the pricing is more stable than anything else. Also, in the event that a well head freezes up or the pressure drops, you can still get paid - or at least that's how it used to work.