WGES Home  |  Forward to a Friend  |  Plain Text Version  |  Past Issues
Washingto Gas Energy Services: A Washington Gas Affiliate Complany
Volume 9, Issue 23
We know how to deliver energy.
June 11, 2010 Energy Update
In this Issue
Editors Note
Week in review for period of June 4, 2010 to June 10, 2010.
New Business
WGES Helps Commercial Customers and State Governments Save Money and Go Green
Natural Gas
EIA Gas Storage Update
Baker Hughes Rotary Rig Count
NYMEX Natural Gas Monthly Settlements
NYMEX Values: Thursday, June 10, 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*
e- Poll
Do you like the new Energy Update format ?
Yes
No
Not sure yet
 

 

For more information, contact your WGES Account Manager or wges_lgc@wges.com.
CleanSteps(SM) Windpower
Editors Note
Week in review for period of June 4, 2010 to June 10, 2010.

In the previous reports covering  the periods of  May 21, 2010 –June 3, 2010, natural gas prices rose 8.1% and electricity prices rose 6.3%. The pricing trend lines as noted below were traveling north.  However, for this week, the price hikes were temporarily halted.  For this report period, the 12 month average price for natural gas fell 0.4%, and the avgerage 12 month price for electricity on the PJM fell 1%. Although it was uneventful week for pricing, the analysts were discussing the oil tragedy in the Gulf. Analysts were wondering how the six month moratorium on deepwater drilling would impact the natural gas rig counts.  According to the Baker Hughes Report, the natural gas rig count fell by 20 rigs in the last week. This was the biggest rig decline in 6 months. The other big wild card is whether or not we will have a hot summer. Hot temperatures create demand spikes for energy which can create price spikes.

Return to Top
New Business
WGES Helps Commercial Customers and State Governments Save Money and Go Green

WGES, a leading competitive energy supplier providing electricity and natural gas service to more than 280,000 residential, commercial, industrial and government customers in the Mid-Atlantic region, recently added 1,000 government accounts from the State of Delaware as a result of a competitive bid process to its growing list of government customers in the region.

In addition to the State of Delaware, WGES also serves five of the District of Columbia government’s largest energy consuming facilities and more than 3,500 of the State of Maryland’s large and small commercial accounts – all of which were awarded as a result of competitive bid processes. Wind power is a key component of the District of Columbia and State of Delaware electricity purchases.

“WGES is proud to serve a diverse group of residential and business customers, including government operations such as the D.C. Convention Center, several Delaware school districts,  the University of Maryland College Park and Thurgood Marshall Baltimore-Washington International Airport,” said Harry Warren, President of WGES. “In addition to offering significant savings to these government customers, and ultimately the taxpayers they serve, WGES also helps customers go green by supplying renewable energy,” said Warren. 
 
Read more

Return to Top
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

2,456

2,357

 99

2,428

2,146

Storage Update:  This week’s reported injection of 99 bcf was above expectations. Inventories are now 14.4% above the 5 year average. We are also 1.2% above last year’s storage number. This is still an all-time high for this time of year surpassing the levels set in 2009.

Return to Top
Baker Hughes Rotary Rig Count

Weekly Drilling Rig Update:  Active rig count released by Baker and Hughes for week ending June 4, 2010 was 947 rigs which was a net decrease of 20 rigs. It was the biggest rig decline in 6 months. The rig count is 247 higher than the rig count reported this same week last year.  We are now 25% below the 5 year average rig count of 1,266.

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

July-09

$0.3939

Nov-09  

$0.4289

Mar-10

$0.4816

Aug-09 

$0.3379

Dec--09 

$0.4486

Apr-10 

$0.3842

Sept-09 

$0.2843

Jan-10 

$0.5814

May-10 

$0.4271

Oct-09 

$0.3730

Feb-10

$0.5274

June-10 

$0.4155

Return to Top
NYMEX Values: Thursday, June 10, 2010
(Price per therm at the well-head)

July-10

$0.4647

Dec-10

$0.5446

May-11

$0.5255

Aug-10

$0.4706

Jan-11

$0.5626

June-11

$0.5297

Sept-10

$0.4761

Feb-11

$0.5581

12-month

$0.5167

Oct-10

$0.4841

Mar-11

$0.5466

11/10-3/11

$0.5451

Nov-10

$0.5136

Apr-11

$0.5239

Crude oil

$75/bl.

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

  

                                                   Trade Date

Return to Top
PJM Electricity
PJM 12-Month Average Peak Power Price
On-Peak 1 Year Forward Price

Return to Top
Weather
Local Cooling Degree Days*

 

Local Cooling Degree Days* 

 

May-10

Jun-10

Jul-10

Aug-10

Sep-10

Oct-10

 Actual

201

 

 

 

 

 

 Normal

107

 

  

 

 

 

 Departure from Normal

47%

 

 

 

 

 

Warmer

 

 

 

 

 

 

**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 day

Return to Top
Washington Gas Energy Services strives to provide concise and accurate information from dependable sources for information contained in this report. Nevertheless, Washington Gas Energy Services does not warrant the authenticity of such information. This report is not intended to serve as a trading tool for customers or for potential customers. If you would like to like to receive this information via email, please send your request to wges_lgc@wges.com.

To ensure delivery of the ENERGY UPDATE, please add wges_lgc@wges.com to your email address book or Safe Sender List.
If you are still having problems receiving our communications, see our white-listing page for more details.