Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 9, Issue 22
We Know Energy
June 10, 2011 Energy Update
In this Issue
Editor's Note
Hot Weather Is the Main Story For Now
Natural Gas
EIA Gas Storage Update - Data Released June 9, 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*
Recent Features
WGES Ranked #1 Supplier (June 3)

 

WGES Adds New Service Territories in Pennsylvania (May 13)




WGES President Harry Warren Interviewed by Washington Post about Innovative Natural Gas Enhancement (May 6)

Our New Wind Power Partners
Baltimore Monthly Meeting House of Friends Homewood
Bethesda United Methodist Church
BrightStar Healthcare
Capital Restaurant Holdings, Inc.
Embassy of Egypt
Embassy of Finland
Hay Adams Hotel
Paul Associates
Prince George's County Libraries
Yard's Brewing Co.

Visit wges.com/partners for full list of WGES Wind Power Partners.

 
To find out more about a green power purchase for your organization, call 703-793-7578, or visit wges.com/commercialwind.

For more information, contact your WGES Account Manager or wges_lgc@wges.com.
Editor's Note
Hot Weather Is the Main Story For Now
Week in review for period of June 3 - June 9, 2011

The Bulls and the Bears continue to bang heads. Natural gas and electricity prices increase one week and decline the next.  As you can see from the graphs in this issue, energy prices have been range bound over the last year. During the recent two week period of  May 20, 2011 to June 3, 2011, natural gas and and electricity prices climbed upward. However, for this seven day report period, the 12-month average price for natural gas at the Henry Hub well-head fell 2%. PJM Electricity prices which normally follow natural gas prices actually rose 2% during this period even though natural gas prices dropped 2%.  

We can blame hot weather for the recent electricity prices increases. The hot temperatures caused a spike in energy demand as the electric power plants had to produce extra electricity needed to meet this higher than normal cooling demand.  The 8-14 day forecast continues to predict hotter than normal temperatures east of the Mississippi. This weather forecast will likely keep upward pressure on energy prices for now.   

On the natural gas side, analysts were surprised to see natural gas prices drop this week. This price decline happened in one day which was yesterday.  Analysts say it  was a technical drop created by speculators. This price decline was not expected to continue. In fact, with the 8-14 day forecast calling for hot weather, we can expect some upward pressure on gas prices.

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