Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 9, Issue 25
We Know Energy
July 1, 2011 Energy Update
In this Issue
Editor's Note
Forecast For Hot Weather and a Tropical Storm Place Upward Pressure on Prices
Natural Gas
EIA Gas Storage Update - Data Released June 30, 2011
Baker Hughes Rotary Rig Count For Natural Gas
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 Cooling 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
Forecast For Hot Weather and a Tropical Storm Place Upward Pressure on Prices
Week in review for period of June 24 - June 30, 2011

Over the last few weeks, natural gas and electricity prices were moving downward. However, as usual, the streak was short-lived. For this seven day report period, the 12-month average price for natural gas at the Henry Hub well-head rose 4%. The trading price for peak power on the PJM electricity grid rose 1%. Crude oil prices rose from $91/barrel to $95/barrel.

The news stories that placed upward pressure on energy prices this week were related to the weather. In fact, the season's first tropical storm formed in the Gulf of Mexico this week. It was named Arlene. Luckily, Arlene dissipated into a weak low pressure system over Mexico. In addition to the tropical storm, forecasters called for the return of above average temperatures over the next 6 to 10 days. Hot weather translates into higher demand for natural gas and electricity.

Then, to add fuel to the flame, Barclay's analysts reported that more and more electric generators were switching from coal to natural gas. Plus the analysts mentioned that the drillers were shifting their attention from gas wells to oil wells. In essence, Barclay's predicted that prices would move upward in the next year.

It is hard to predict with certainty where prices will be in 12 months. However, the great news for now is that natural gas and electricity prices are still hovering near a seven year low.

spacer spacer
Print This Article Print This Issue
Print This Article Print This Article
spacer spacer
Next Article Next Article
Return to Top Return to Top
spacer spacer
How helpful is this article?
WGES Home  |  Forward to a Friend  |  Plain Text Version  |  Past Issues
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.