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Washingto Gas Energy Services: A Washington Gas Affiliate Complany
Volume 9, Issue 44
We know how to deliver energy.
November 5, 2010 Energy Update
In this Issue
Editors Note
Week in review for period of October 29, 2010 to November 4, 2010.
Renewable Energy
Green Power at the University of Maryland - College Park
Natural Gas
EIA Gas Storage Update
Baker Hughes Rotary Rig Count
NYMEX Natural Gas Monthly Settlements
NYMEX Values: Thursday, November 4, 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 29, 2010 to November 4, 2010.

During last week’s report for the period of October 22- 28, the 12 month average price for natural gas at the well-head fell 4.9% and the 12 month average price for peak power on the PJM fell 1.4%. However, for this report period, the downward  trend  was halted as natural gas and electric prices ended flat.  At this time, the story line remains the same. Natural gas and electricity prices are near seven year lows because natural gas production is high and energy demand is low.  For now, the big variables that can potentially increase energy  demand and thus place upward pressure on prices are  the winter temperatures  and the pace of the economic recovery. Stay tuned.

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Renewable Energy
Green Power at the University of Maryland - College Park

The student body at the University of Maryland - College Park (UMD) voted overwhelmingly to support the creation of a sustainability fund for environmental projects on campus. This year students used this fund to purchase green power.

UMD’s green power purchase of more than 66,000,000 kWh of wind energy a year through Washington Gas Energy Services is equivalent to avoiding 47,399 metric tons of CO2 and taking 9,063 cars off the road for one year.

According to the EPA’s Green Power Partnership “Top 20 College & University” list, UMD - College Park would rank number five nationwide for their green power purchase.

In 2007, over ninety-percent of the UMD student body voted to start a Green Fund, supported by a “green fee” that began at $4 per student and will be capped at $12 in 2010.  Using this green fund, students purchased over 66 million kWh of their power in 2010 from WGES CleanStepsSM WindPower for Large Commercial Customers. This purchase of wind energy credits is the equivalent to offsetting over 60% of the campus’s total electricity load. 

Wind power helps to reduce emissions produced by conventional electricity sources and supports the development of wind farms. WGES CleanStepsSM WindPower for Large Commercial Customers is Green-e Energy certified, the nation's leading voluntary certification program for renewable energy. Large Commercial customers, including colleges and universities,  have the option to purchase CleanStepsSM WindPower for any portion of their energy portfolio.


 

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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

3,821

3,754

 67

3,784

3,468

Storage Update:  The traditional refill season is over.  This week’s injection was, once again, above average coming in at 67 Bcf.  Last year at this time the injection was 29 Bcf.  As a result of these larger than normal injections, the deficit from a year ago has disappeared.  We are now 1% above last year’s levels.  The surplus relative to the 5 year average has grown to 10.2%.

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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 10/29/10 was 967 rigs which was a net increase of 2 rigs.  The count is 239 higher than the count reported this same week last year. We are 22% below the 5 year average rig count of 1247.

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

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

Mar-10

$0.4816

July-10 

$0.4717

Nov-10 

$0.3292

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NYMEX Values: Thursday, November 4, 2010
(Price per therm at the well-head)

Dec-10

$0.3856

May-11

$0.4096

Oct-11

$0.4355

Jan-11

$0.4109

June-11

$0.4150

Nov-11

$0.4590

Feb-11

$0.4117

July-11

$0.4215

12-month

$0.4182

Mar-11

$0.4090

Aug-11

$0.4259

12/10-3/11

$0.40430

Apr-11

$0.4065

Sept-11

$0.4278

 Crude Oil

$86/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

42

 Normal

107

 304

  456

402

200

28

 Departure from Normal

47.0%

 55.6%

19.4%

16.1%

38.0%

33.0%

Warmer

 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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