Energy prices were unable to decrease two weeks in a row. Thus, for the sixth time in seven weeks, electricity and natural gas prices increased. The 12 month average price for natural gas at the well-head rose 3% . The average 12 month price for electricity on the PJM rose 2%. Crude oil prices rose $3/barrel closing at a year high $80/barrel. The upward pricing pressure came from the fact that we had an early cold snap. Additionally, this week’s economic reports indicated that that the country was experiencing some signs of an economic recovery. Even though energy prices are up, we are still trading at a five year low for electricity and natural gas. The economy and winter temperatures will impact the direction of prices.

More than 1000 solar panels will be installed on four Catholic University buildings this fall, creating the largest solar-energy system in the Washington, D.C., metropolitan area. The University announced this week that it has signed a long-term agreement with Washington Gas Energy Services Inc. to purchase electricity generated by the solar panels at guaranteed prices. The solar-panels will be owned and operated by WGES, and produce about 340,000 kilowatt hours of electricity each year. To read the full article, click here.