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Washingto Gas Energy Services: A Washington Gas Affiliate Complany
Volume 9, Issue 2
We know how to deliver energy.
January 15, 2010 Energy Update
In this Issue
Editors Note
Week in review for period of January 8, 2010 to January 14, 2010.
Natural Gas
EIA Gas Storage Update
Baker Hughes Rotary Rig Count
NYMEX Natural Gas Monthly Settlements
NYMEX Values: Thursday, January 14, 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 January 8, 2010 to January 14, 2010.

Weather is a huge variable that affects energy prices this time of the year.  The colder than normal  temperatures that descended upon the country over the last few weeks increased energy demand, reduced inventory levels and placed upward pressure on prices. However, when the forecasters predicted the return of above average temperatures east of the Mississippi over the next 10-14 days, energy prices started to fall. For this report period, crude oil prices fell $3/barrel closing at $79/barrel. Natural gas prices at the well-head fell 2.3% and electric prices on the PJM fell 2.9%.   For the short term, the future direction of energy prices will continue to be tied to the weather forecasts and the pace of our economic recovery. Please call us if you have questions or want to see your early  renewal update.

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

2,852

3,118

-266

2,749

2,731

Storage Update:  This week’s large withdrawal came close to breaking the all-time weekly withdrawal record of  274 Bcf.  This week’s withdrawal of 266 Bcf  was the second highest net withdrawal on record. The recent cold snap was the big reason for the largest withdrawal of the season.  Working gas in storage for the week ending 1/8/10 was 2,852 Bcf following last week’s withdrawal of 266 Bcf. The inventories are 3.7% above last year’s levels. We are 4.4% above the 5 year avg.

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Baker Hughes Rotary Rig Count

Drilling Rig Update:  Active rig count released by Baker and Hughes for week ending January 8, 2010 was 781 rigs.  The rig count is still 598 lower  than  the count  reported this same week last year. We are 39% below the 5-year avg. rig count of 1,279.

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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 14, 2010
(Price per therm at the well-head)

Feb-10

$0.5588

July-10

$0.5749

Dec-10

$0.6607

Mar-10

$0.5570

Aug-10

$0.5815

Jan-11

$0.6822

Apr-10

$0.5540

Sept-10

$0.5842

12-month

$0.5916

May-10

$0.5592

Oct-10

$0.5942

12/09-3/10

$0.57185

Jun-10

$0.5665

Nov-10

$0.6262

Crude oil

$79/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 Heating 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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