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Washingto Gas Energy Services: A Washington Gas Affiliate Complany
Volume 8, Issue 48
We know how to deliver energy.
November 30, 2009 Energy Update
In this Issue
Editors Note
Week in review for period of November 20, 2009 to November 26, 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: Wednesday, November 25, 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 20, 2009 to November 26, 2009.

Despite the fact that natural gas storage levels are still at record high levels, energy prices rose last week. For this report period, the 12 month average price for natural gas at the well-head rose by 7%. The average 12 month price for electricity on the PJM rose by 5%. Crude oil prices were flat closing at $76/barrel. The surprise price increases can be tied to the recent weather forecasts that are now predicting the onset of colder than normal temperatures from December through February in the eastern United States. 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

3,835

3,833

2

3,431

3,393

Storage Update:  Inventory levels grew by 2 bcf.  Mild weather is one reason for the gas injection.  Last year we had a withdrawal of 68 bcf.  Working gas in storage for the week ending 11/20/09 was 3,835 bcf following last week’s injection of 2 bcf. The inventories are 11.8% above last year’s levels. We are 13% 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 25, 2009 was 748 rigs. That is an increase of 22 rigs. The rig count is still 763 lower than the count reported this same week last year. We are 42% below the 5-year avg. rig count of 1,286.

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

Jan-09

$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

Apr-09 

$0.3631

Aug-09 

$0.3379

Dec-09 

$0.4486

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NYMEX Values: Wednesday, November 25, 2009
(Price per therm at the well-head)

Dec-09

$0.4486

May-10

$0.5337

Oct -10

$0.5783

Jan-09

$0.5163

Jun-10

$0.5414

Nov-10

$0.6208

Feb-09

$0.5235

July-10

$0.5507

12-month

$0.5410

Mar-10

$0.5266

Aug-10

$0.5585

12/09-3/10

$0.47510

Apr-10

$0.5288

Sept-10

$0.5643

Crude oil

$76/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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