In this Issue |
Editors Note |
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Renewable Energy |
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Natural Gas |
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PJM Electricity |
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Weather |
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Week in review for period of October 16, 2009 to October 22, 2009. |
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. |
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Renewable Energy |
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. |
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Natural Gas |
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Current Week |
Last Week |
Net Change |
Last Year |
5 Year |
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Stocks (Bcf) |
Stocks (Bcf) |
(Bcf) |
Stocks (Bcf) |
Average (Bcf) |
Total Lower 48 |
3,734 |
3,716 |
18 |
3,337 |
3,302 |
Storage Update: Inventories reached another record high of 3,734 bcf. The injection season ends Nov.1, 2009. The previous record was 3,565 bcf set in October 2007. Working gas in storage for the week ending 10/16/09 was 3,734 bcf following last week’s modest injection of 18 bcf. The inventories are 11.9% above last year’s levels. We are 13.1% above the 5 year average. |
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Baker Hughes Rotary Rig Count |
Drilling Rig Update: Active rig count released by Baker and Hughes for week ending October 16, 2009 was 721 rigs. That is a decrease of 5 rigs. The rig count is still 816 lower than the count reported this same week last year. We are now 44% below the 5-year avg. rig count of 1,292. |
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NYMEX Natural Gas Monthly Settlements |
(Price per therm at the well-head) |
Nov-08 |
$0.7472 |
Mar-09 |
$0.4056 |
July-09 |
$0.3939 |
Dec-08 |
$0.6888 |
Apr-09 |
$0.3631 |
Aug-09 |
$0.3379 |
Jan-09 |
$0.6136 |
May-09 |
$0.3321 |
Sept-09 |
$0.2843 |
Feb-09 |
$0.4476 |
Jun-09 |
$0.3538 |
Oct-09 |
$0.3730 | |
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NYMEX Values: Thursday, October 22, 2009 |
(Price per therm at the well-head) |
Nov-09 |
$0.4947 |
Apr-10 |
$0.5872 |
Sept-10 |
$0.6182 |
Dec-09 |
$0.5617 |
May-10 |
$0.5909 |
Oct -10 |
$0.6339 |
Jan-10 |
$0.5921 |
Jun-10 |
$0.5969 |
12-month |
$0.5902 |
Feb-10 |
$0.5976 |
July-10 |
$0.6054 |
11/09-3/10 |
$0.56748 |
Mar-10 |
$0.5913 |
Aug-10 |
$0.6127 |
Crude oil |
$80/bl. | |
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NYMEX 12-Mo. Avg. Price Per Therm at the Well-Head |
(excludes Interstate Transportation) |

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PJM Electricity |
PJM 12-Month Average Peak Power Price |
On-Peak 1 Year Forward Price |

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Weather |
Local Cooling Degree Days* |
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Local Cooling Degree Days* |
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May-09 |
Jun-09 |
Jul-09 |
Aug-09 |
Sep-09 |
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Actual |
93 |
272 |
378 |
467 |
172 |
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Normal |
107 |
304 |
456 |
407 |
200 |
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Departure from Normal |
15.1% |
11.8% |
20.1% |
12.8% |
16.3% |
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Cooler |
Cooler |
Cooler |
Warmer |
Cooler |
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* Cooling degree days are calculated by comparing the day’s average temperature to a 65 degree baseline. If the average temperature is below 65, there are no cooling degree days that day. If the average temperature is greater than 65 degrees, then subtract 65 from the average temperature to find the number of cooling degree days |
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