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Washingto Gas Energy Services: A Washington Gas Affiliate Complany
Volume 9, Issue 46
We know how to deliver energy.
November 19, 2010 Energy Update
In this Issue
Editors Note
Week in review for period of November 12, 2010 to November 18, 2010.
Natural Gas
EIA Gas Storage Update
Baker Hughes Rotary Rig Count
NYMEX Natural Gas Monthly Settlements
NYMEX Values: Thursday, November 18, 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 November 12, 2010 to November 18, 2010.

The energy market was all over the board this week. Prices were literally up one day and down the next.  However, at the end of the week, the closing numbers for this 7 day period were almost identical to the closing numbers from last week. For this report period, the 12 month average price for natural gas at the well-head rose less than 1% and the 12 month average price for peak power on the PJM also rose by less than 1%. We are still range bound. The market fell in response to the fact the fact that we have a record amount of natural gas in storage. Then the market rose after the weather forecasters predicted below normal temperatures east of the Mississippi over the next 8-14 days. Mother Nature and the economic recovery will drive pricing for the near term.

Due to the Thanksgiving Holiday next week, Energy Update will not be published on Friday, November 26. Our next issue will be published on Friday, December 3.

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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

3,843

3,840

 3

3,830

3,516

Storage Update:  Although the traditional refill season is over, we had another injection this week. We saw 3 Bcf go into storage. As a result, we have another new record high of 3,843 Bcf  in storage. We are now 1% above last year’s levels.  The surplus is 9.3% above the 5 year average. 

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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 11/12/10 was 955 rigs which remained unchanged from the previous week.  The count is 227 higher than the count reported this same week last year. We are 23% below the 5 year average rig count of 1,245.

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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 18, 2010
(Price per therm at the well-head)

Dec-10

$0.4007

May-11

$0.4161

Oct-11

$0.4413

Jan-11

$0.4183

June-11

$0.4216

Nov-11

$0.4627

Feb-11

$0.4189

July-11

$0.4279

12-month

$0.4252

Mar-11

$0.4161

Aug-11

$0.4322

12/10-3/11

$0.41350

Apr-11

$0.4127

Sept-11

$0.4337

 Crude Oil

$82/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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