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Washingto Gas Energy Services: A Washington Gas Affiliate Complany
Volume 8, Issue 47
We know how to deliver energy.
November 20, 2009 Energy Update
In this Issue
Editors Note
Week in review for period of November 13, 2009 to November 19, 2009.
Renewable Energy
WGES sponsors Solar Energy Conference
Natural Gas
EIA Gas Storage Update
Baker Hughes Rotary Rig Count
NYMEX Natural Gas Monthly Settlements
NYMEX Values: Thursday, November 19, 2009
NYMEX 12-Mo. Avg. Price Per Therm at the Well-Head
PJM Electricity
PJM 12-Month Average Peak Power Price
Weather
Local Cooling Degree Days*
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CleanSteps(SM) Windpower
Editors Note
Week in review for period of November 13, 2009 to November 19, 2009.

Although energy prices have fallen over the past three weeks, energy prices for this report period were relatively flat. The 12 month average price for natural gas at the well-head was identical to last week’s closing price of $.505/therm at the well-head.  The average 12 month price for electricity on the PJM rose by 1%. Crude oil prices rose 1% closing at $77/barrel.  Warm weather and record high inventories are keeping natural gas prices near this six year low while electricity prices are still hovering at a five year low  However, do not be lulled to sleep. Weather forecasters are calling for the return of colder temperatures to the northeast of the country at the end of November.  Winter is definitely the wild card for now.  This is a good time to review the early renewal options for 2011. Please call us with any questions.

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Renewable Energy
WGES sponsors Solar Energy Conference
WGES is a proud sponsor of the 2009 MDV-SEIA 2009 Solar Energy Focus Conference from December 3rd to the 5th, in Gaithersburg, Md.  MDV-SEIA, the Maryland, DC, and Virginia Solar Energy Industry Association, is the solar voice of the Mid-Atlantic region. To see more information and the conference agenda, click here
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Natural Gas
EIA Gas Storage Update

 

 Current Week

Last Week 

Net Change

 Last Year 

 5 Year

 

 Stocks (Bcf)

Stocks (Bcf)

 (Bcf)

Stocks (Bcf)

 Average (Bcf)

 Total Lower 48

3,833

3,813

20

3,486

3,414

Storage Update:  Inventory levels continued to grow even though the traditional injection season ended October 31, 2009.  Mild weather is one reason we saw this gas injection. Working gas in storage for the week ending 11/13/09 was 3,833 bcf following last week’s injection of 20 bcf. The inventories are 10% above last year’s levels. We are 12.3% 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 Nov 13, 2009 was 728 rigs. That is a decrease of 6 rigs after three consecutive weeks of increases. The rig count is still 770 lower than the count reported this same week last year. We are 43% below the 5-year avg. rig count of 1,287.

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NYMEX Natural Gas Monthly Settlements
(Price per therm at the well-head)

Dec-08

$0.6888

Apr-09 

$0.3631

Aug-09 

$0.3379

Jan-08

$0.6136

May-09 

$0.3321 

Sept-09 

$0.2843

Feb-09 

$0.4476

Jun-09  

$0.3538

Oct-09 

$0.3730

Mar-09 

$0.4056

July-09 

$0.3939

Nov-09 

$0.4289

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NYMEX Values: Thursday, November 19, 2009
(Price per therm at the well-head)

Dec-09

$0.4342

May-10

$0.4960

Oct -10

$0.5443

Jan-09

$0.4715

Jun-10

$0.5062

Nov-10

$0.5880

Feb-09

$0.4808

July-10

$0.5174

12-month

$0.5057

Mar-10

$0.4852

Aug-10

$0.5250

12/09-3/10

$0.46793

Apr-10

$0.4893

Sept-10

$0.5308

Crude oil

$77/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*

 

Local Cooling Degree Days* 

 

May-09

Jun-09

Jul-09

Aug-09

Sep-09

Oct-09

 Actual

93

272

   378  

467

172

    14      

 Normal

107

304

  456

407

200

28

 Departure from Normal

15.1%

11.8%

20.1%

12.8%

16.3%

50.0%

Cooler

Cooler

Cooler

Warmer

 Cooler

Cooler

 

* 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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