Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 10, Issue 13
We Know Energy
April 8, 2011 Energy Update
In this Issue
Editor's Note
Why Did Energy Prices Fall For the First Time In Four Weeks?
President's Corner
Working With You to Make Every Day Earth Day
Renewable Energy
Anne Arundel Community College Installs One of the Largest Solar Carport Systems on the East Coast
Celebrate Earth Day: Get Green For Free
Natural Gas
EIA Gas Storage Update - Data Released April 7, 2011
Baker Hughes Rotary Rig Count
NYMEX Natural Gas Monthly Settlements For the Past 12 Months
NYMEX Values For the Forward 12 Months
NYMEX 12-Month Average Price Per Therm at the Well-Head
PJM Electricity
PJM 12-Month Average Peak Power Price
Weather
Local Heating Degree Days*
Word of the Week
What is a REC?
e- Poll
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Editor's Note
Why Did Energy Prices Fall For the First Time In Four Weeks?
Week in review for period of April 1-7, 2011

Over the last three weeks, energy prices pushed upward. However, the upward trend ended this week. For this report period, the 12 month average price for natural gas at the well-head fell 5%, and the 12 month average price for peak power on the PJM fell 2%. Many variables, including weather and tensions overseas, impact  energy prices. The variable that seemed to impact prices this week came from the U.S. Energy Information Administration (EIA).

The EIA released their Shale Gas study this week. Shale gas is gas that comes from dry "horizontal  drilling in conjunction with hydraulic fracturing."  The study said that "the development of shale gas has become a game changer for the United States."  23% of  the U.S. dry gas production now comes from Shale gas and that number is expected to climb. This report  put a positive spin of U.S. gas supplies for now and thus placed some downward pressure on gas prices this past week.

But do not be lulled to sleep. The analysts are quick to note that the upcoming summer weather will influence the future direction of energy prices.  Hurricanes in the Gulf of Mexico can place upward pressure on prices. Plus, increased cooling demand  that comes with an unusually hot summer can place upward pressure on prices.

But for now, we are happy because natural gas and electric prices are still hovering near a seven year low, which saves you money.

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