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Washingto Gas Energy Services: A Washington Gas Affiliate Complany
Volume 9, Issue 1
We know how to deliver energy.
January 8, 2010 Energy Update
In this Issue
Editors Note
Week in review for period of December 18, 2009 to January 7, 2010.
Natural Gas
EIA Gas Storage Update
Baker Hughes Rotary Rig Count
NYMEX Natural Gas Monthly Settlements
NYMEX Values: Thursday, January 7, 2010
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 December 18, 2009 to January 7, 2010.

Although the energy demand from the industrial sector has not been impressive, the arrival of colder than normal temperatures has created a spike in energy demand.  This cold weather demand has placed upward pressure on energy prices over the last few weeks. For this report period, crude oil prices rose $10/barrel closing at $82/barrel. Crude oil is now at a 15 month high. However, the good news is that natural gas prices at the well-head only rose 1% and electric prices on the PJM only rose  1%. More good news is that the 8-14 day forecast calls for the return of normal temperatures.  Stay tuned.  Although we still have a surplus of natural gas in storage , this current surplus could erode quickly  if we have an exceptionally cold winter.  Please call us with questions.

Market Alert: WGES is now serving clients in Pennsylvania. If you have electric meters on the PPL system, please call us for your customized  savings analysis .

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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

3,123

3,276

-153

2,837

2,807

Storage Update:  This week’s number shows a large withdrawal for the beginning of 2010. Inventory levels decreased by 153 bcf.  The recent cold temperature is one reason for the large withdrawal.  Working gas in storage for the week ending 1/1/10 was 3,123 bcf following last week’s withdrawal of 153 Bcf. The inventories are 10.1% above last year’s levels. We are 11.3% above the 5 yr average.

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Baker Hughes Rotary Rig Count

Drilling Rig Update:  Active rig count released by Baker and Hughes for week ending Dec 31, 2009 was 759 rigs.  The rig count is still 620 lower  than  the count  reported this same week last year. We are 41% below the 5-year avg. rig count of 1,280.

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

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

May-09 

$0.3321

Sept-09 

$0.2843

Jan-10 

$0.5814

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NYMEX Values: Thursday, January 7, 2010
(Price per therm at the well-head)

Feb-10

$0.5806

July-10

$0.5883

Dec-10

$0.6690

Mar-10

$0.5756

Aug-10

$0.5948

Jan-11

$0.6905

Apr-10

$0.5704

Sept-10

$0.5977

12-month

$0.6056

May-10

$0.5743

Oct-10

$0.6080

12/09-3/10

$0.59750

Jun-10

$0.5809

Nov-10

$0.6375

Crude oil

$82/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* 

 

Nov-09

Dec-09

Jan-10

Feb-10

Mar-10

Apr-10

 Actual

376

835

 

 

 

         

 Normal

477

775

  

 

 

 

 Departure from Normal

21.2%

7.74%

 

 

 

 

Warmer

Cooler

 

 

 

 

 

* Heating degree days are calculated by comparing the day’s average temperature to a 65 degree baseline.  If the average temperature is above 65, there are no heating degree days that day.  If the day's average temperature is less than 65 degrees, subtract the day's average temperature from 65 to find the number of heating degree days for that day.

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