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Washingto Gas Energy Services: A Washington Gas Affiliate Complany
Volume 9, Issue 6
We know how to deliver energy.
February 12, 2010 Energy Update
In this Issue
Editors Note
Week in review for period of February 5, 2010 to February 11, 2010.
Natural Gas
EIA Gas Storage Update
Baker Hughes Rotary Rig Count
NYMEX Natural Gas Monthly Settlements
NYMEX Values: Thursday, February 11, 2010
NYMEX 12-Mo. Avg. Price Per Therm at the Well-Head
PJM Electricity
PJM 12-Month Average Peak Power Price
Weather
Local Heating Degree Days*
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CleanSteps(SM) Windpower
Editors Note
Week in review for period of February 5, 2010 to February 11, 2010.
Even though we experienced a record high snow fall and a blizzard, energy prices remained flat for the second straight week.  For this report period, the 12 month average price for natural gas at the well-head and the average 12 month price for electricity on the PJM were almost identical to last week’s closing price.  Although the snow fall amounts were impressive, the temperatures were not severe enough to create a panic in the market. Plus the increased production of natural gas has offset some of the cold weather demand.  If fact, the gas rig counts have increased 25% since August 29, 2009. The future direction of prices still depend on the pace of the economic recovery and the severity of temperatures over the next seven weeks

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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

2,215  

2,406

-191

2,043

2,101

Storage Update:  This week’s reported withdrawal was 191 Bcf.   Although gas inventories were under the five year average a few weeks ago, inventories are back over the five year average. The inventories are 8.4% above last year’s levels.  We are  5.4% above the five 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 February 5, 2010 was 878 rigs.  The rig count is 272 lower than the count reported this same week last year. We are 31% below the 5-year avg. rig count of 1,276.

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

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

Jun-09 

$0.3538

Oct-09 

$0.3730

Feb-10 

$0.5274

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NYMEX Values: Thursday, February 11, 2010
(Price per therm at the well-head)

Mar-10

$0.5396

Aug-10

$0.5660

Jan-11

$0.6625

Apr-10

$0.5383

Sept-10

$0.5693

Feb-11

$0.6585

May-10

$0.5443

Oct-10

$0.5795

12-month

$0.5850

Jun-10

$0.5520

Nov-10

$0.6090

11/10-3/11

$0.6421

July-10

$0.5599

Dec-10

$0.6405

Crude oil

$75/bl.

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NYMEX 12-Mo. Avg. Price Per Therm at the Well-Head
(excludes Interstate Transportation)

                                                              Trade Date

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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 Heating Degree Days*

 

Local Heating Degree Days* 

 

Nov-09

Dec-09

Jan-10

Feb-10

Mar-10

Apr-10

 Actual

376

835

914

 

 

         

 Normal

477

775

  917

 

 

 

 Departure from Normal

21.2%

7.74%

0.3%

 

 

 

Warmer

Cooler

Warmer

 

 

 

 

* 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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