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Washingto Gas Energy Services: A Washington Gas Affiliate Complany
Volume 9, Issue 40
We know how to deliver energy.
October 8, 2010 Energy Update
In this Issue
Editors Note
Week in review for period of October 1, 2010 to October 7, 2010.
Natural Gas
EIA Gas Storage Update
Baker Hughes Rotary Rig Count
NYMEX Natural Gas Monthly Settlements
NYMEX Values: Thursday, October 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*
 

 

For more information, contact your WGES Account Manager or wges_lgc@wges.com.
CleanSteps(SM) Windpower
Editors Note
Week in review for period of October 1, 2010 to October 7, 2010.

Energy prices remained relatively flat this past week after hitting record low closing prices at the end of September.  The low consumption placed downward pressure on energy prices.  Milder temperatures reduced the need for cooling and drove down the consumption of electricity.  Demand for natural gas also fell and this helped keep natural gas prices relatively unchanged.  The 12 month average price for natural gas at the well-head and the 12 month price for peak power on the PJM fell less than 1%.  Crude oil prices also remained stable at $81/barrel this week after the big jump last week.  This is a great time to look at the early renewal.  In addition to offering natural gas and electricity, WGES offers CleanSteps WindPower  as  alternative clean, renewable energy.  Call your Account Manager today!

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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

3,499

3,414

 85

3,648

3,279

Storage Update:  We have four weeks left in the injection season. This week’s injection was 85 Bcf.   Last year at this time the injection was 69 Bcf.  As a result, the deficit from a year ago is still shrinking. We are 4.1% below last year’s levels.  The surplus relative to the 5 year average is now at 6.7%.

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Baker Hughes Rotary Rig Count

Weekly Drilling Rig Update:  Active rig count released by Baker and Hughes for the week ending 10/1/10 was 962 rigs which was a net decrease of 5 rigs.  This is the second decrease we have experienced in the last four weeks.  The count is 250 higher than the count reported this same week last year. We are 23% below the 5 year average rig count of 1251.

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

Nov-09

$0.4289

Mar-10

$0.4816

July-10 

$0.4717

Dec-09

$0.4486

Apr-10

$0.3842

Aug-10 

$0.4774

Jan-10

$0.5814

May-10

$0.4271

Sept-10 

$0.3651

Feb-10

$0.5274

June-10

$0.4155

Oct-10 

$0.3837

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

Nov-10

$0.3617

Apr-11

$0.4180

Sept-11

$0.4440

Dec-10

$0.3993

May-11

$0.4217

Oct-11

$0.4525

Jan-11

$0.4227

June-11

$0.4282

12-month

$0.4227

Feb-11

$0.4260

July-11

$0.4362

11/10-3/11

$0.40604

Mar-11

$0.4205

Aug-11

$0.4417

 Crude Oil

$81/barrel 

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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* 

 

May-10

Jun-10

Jul-10

Aug-10

Sep-10

Oct-10

 Actual

201

473 

566

479

323

 

 Normal

107

 304

  456

402

200

 

 Departure from Normal

47.0%

 55.6%

19.4%

16.1%

0.38

 

Warmer

 Warmer

Warmer

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

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