WGES Home  |  Forward to a Friend  |  Plain Text Version  |  Past Issues
Washingto Gas Energy Services: A Washington Gas Affiliate Complany
Volume 9, Issue 27
We know how to deliver energy.
July 9, 2010 Energy Update
In this Issue
Editors Note
Week in review for period of July 2, 2010 to July 8, 2010.
Natural Gas
EIA Gas Storage Update
Baker Hughes Rotary Rig Count
NYMEX Natural Gas Monthly Settlements
NYMEX Values: Thursday, July 8, 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 July 2, 2010 to July 8, 2010.

For this report period, the 12 month average price for natural gas at the well-head fell 5%, and the average 12 month price for peak power on the PJM fell 1.4%. Temperatures along the East Coast exceeded 100 degrees for 3 days this week. These high temperatures provided a surge of demand as gas powered generators ramped up to meet air-conditioning needs. Weather continues to be a huge wild card that can quickly place upward pressure on prices this time of the year. With prices still low relative to the last 5 years, this is still a great time to look at an early renewal strategy. Call your Account Manager today with questions.

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

2,762

2,684

 78

2,785

2,477

Storage Update:  This week’s net injection of 78 Bcf met expectations, compared with last year’s net injection of 74 Bcf.   Inventories are 11.5% above the 5 year average. However we are 0.8% below last year’s levels. This is the 3rd time in 2 months that storages fell below last year’s levels.

Return to Top
Baker Hughes Rotary Rig Count

Weekly Drilling Rig Update:  Active rig count released by Baker and Hughes for week ending 7/2/10 was 960 rigs which was a net increase of 2 rigs.  The rig count is 272 higher than the rig count reported this same week last year. However, we are now 24% below the 5 year average rig count of 1,262.

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

Aug-10

$0.4548

Dec-10

$0.5239

Apr-11

$0.5074

Sept-10

$0.4587

Jan-11

$0.5427

May-11

$0.5093

Oct-10

$0.4673

Feb-11

$0.5384

June-11

$0.5144

Nov-10

$0.4944

Mar-11

$0.5291

July-11 

$0.5206

Return to Top
NYMEX Values: Thursday, July 8, 2010
(Price per therm at the well-head)

Aug-10

$0.4399

Jan-11

$0.5330

June-11

$0.5108

Sept-10

$0.4420

Feb-11

$0.5305

July-11

$0.5173

Oct-10

$0.4509

Mar-11

$0.5214

12-month

$0.4963

Nov-10

$0.4844

Apr-11

$0.5036

11/10-3/11

$0.5171

Dec-10

$0.5163

May-11

$0.5056

 

 

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

       

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

473 

 

 

 

 

 Normal

107

 304

  

 

 

 

 Departure from Normal

47.0%

 35.7%

 

 

 

 

Warmer

 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.