WGES Home  |  Forward to a Friend  |  Plain Text Version  |  Past Issues
Washingto Gas Energy Services: A Washington Gas Affiliate Complany
Volume 9, Issue 47
We Know Energy.
December 3, 2010 Energy Update
In this Issue
Editors Note
Week in review for period of November 19, 2010 to December 2, 2010.
Natural Gas
EIA Gas Storage Update
Baker Hughes Rotary Rig Count
NYMEX Natural Gas Monthly Settlements
NYMEX Values: Thursday, December 2, 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 19, 2010 to December 2, 2010.

Over the last few weeks, the energy prices were flat lining. However, that trend line has now been broken. For this report period, the 12 month average price for natural gas at the well-head rose 5% and the 12 month average price for peak power on the PJM also rose by 1%. Crude oil prices rose by 7%.  It is no secret why energy prices spiked upward. Colder than normal temperatures have hit much of the country and the 8-14 day forecast calls for temperatures to remain below normal. This cold snap has created space heating demand in most of the country and thus placed upward pressure on pricing for now. Mother Nature and the economic recovery will drive pricing for the near term.

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

3,814

3,837

 -23

3,837

3,467

Storage Update:  Although the traditional withdrawal season began Nov.1, we just now saw the first withdrawal of the season. This means cold weather has arrived. We had a withdrawal of 23 Bcf this week.  We are now 0.6% below last year’s levels, but are still 10% above the 5 year average.

Return to Top
Baker Hughes Rotary Rig Count

Weekly Drilling Rig Update:  Active rig count released by Baker and Hughes for the week ending 11/24/10 was 953 rigs which increased 17 rigs from the previous week.  The count is 205 higher than the count reported this same week last year. We are 23% below the 5 year average rig count of 1,243.

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

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

Apr-10

$0.3842

Aug-10

$0.4774

DEC-10 

$0.4267

Return to Top
NYMEX Values: Thursday, December 2, 2010
(Price per therm at the well-head)

Jan-11

$0.4343

June-11

$0.4353

Nov-11

$0.4771

Feb-11

$0.4350

July-11

$0.4411

Dec-11

$0.5074

Mar-11

$0.4312

Aug-11

$0.4451

12-month

$0.4473

Apr-11

$0.4280

Sept-11

$0.4471

12/10-3/11

$0.43350

May-11

$0.4307

Oct-11

$0.4554

 Crude Oil

$88/barrel 

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
1\clip_image001.jpg" o:title="PJM 07-16-2010 resized">

Return to Top
Weather
Local Cooling Degree Days*

 

Local Heating Degree Days* 

 

Nov10

Dec-10

Jan-11

Feb-11

Mar-11

April-11

 Actual

428

 

 

 Normal

477

 

 

 

 

 Departure from Normal

10%

 

 

 

 

 

Warmer

 

 

 

 

 

 

** Heating degree days are calculated by comparing the day’s average temperature to a 65 degree baseline.  If the day’s average temperature is above 65, there are no heating degree days that day.  If the day’s average temperature is less than 65 degrees, subtract the day’s average temperature from 65 to find the number of heating degree days for that 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.