Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 10, Issue 15
We Know Energy
April 22, 2011 Energy Update
In this Issue
Editor's Note
Energy Prices Have Risen Five Out of the Last Six Weeks
Environmental Stewardship
WGES Employees Do Their Part for a Greener Earth
Renewable Energy
Spring Promotion: Sign up for Wind Power and Receive Free Print Advertising!
Natural Gas
EIA Gas Storage Update - Data Released April 21, 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*
Term of the Week
Earth Day
e- Poll
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Editor's Note
Energy Prices Have Risen Five Out of the Last Six Weeks
Week in review for period of April 15-21, 2011

Energy prices rose for the second straight week. As a result, natural gas and electricity prices have now risen five out of the past six weeks. For this seven day report period, the 12-month average price for natural gas at the well-head rose 3.5%, and the 12-month average price for peak power on the PJM rose 2.6%. Crude oil prices rose from $108 to $111 per barrel.

This week's story line looks similar to last week. Natural gas production is robust thanks to the shale gas discovery. However, the bullish variables continue to dominate the market and are placing upward pressure on energy prices for now. For example, although shale gas production is booming, analysts are awaiting the results from an EPA study that is looking at the impact of shale drilling on our water resources. A negative report  could slow down the shale gas play. Additionally, in the electric generation sector, analysts indicate that natural gas demand will increase as the old coal fired plants are replaced by the clean burning natural gas plants.

Here is the good news: Even with the recent price increases, natural gas prices are near a seven year low and electricity prices are near the six year low. The bad news is that the trend line continues to creep upward.

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