Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 10, Issue 20
We Know Energy
May 27, 2011 Energy Update
In this Issue
Editor's Note
Reliving the 90's
Natural Gas
EIA Gas Storage Update - Data Released May 26, 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*
Renewable Energy

 

For more information, contact your WGES Account Manager or wges_lgc@wges.com.
Editor's Note
Reliving the 90's
Week in review for period of May 20 - May 26, 2011

Over the last few weeks, natural gas and and electricity prices experienced a small downward trend. However, that short trend ended this week.  For this seven day report period, the 12-month average price for natural gas at the Henry Hub well-head rose 3.5%. The 12-month average price for peak power on the PJM rose 1.3%.

Natural gas and electricity prices floated down over during the past few weeks because there was minimal energy demand for heating or cooling. However, this week a heat wave hit and placed upward pressure on energy prices. Locally, we hit our first 90 degree day of the season and more 90 degree days are predicted for next week. In fact, the 8-14 day forecast  calls for above average temperatures east of Mississippi.  As temperatures rise, power plants burn more energy in an effort to produce the extra electricity that is needed to run the air conditioners. This increased demand  for energy places upward pressure on energy prices.

Summer temperatures and the summer hurricane season are two of the biggest variables to watch over  the next few months.  However, for now, the good news is that natural gas and electricity prices are both near a seven year low.

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