Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 9, Issue 33
We Know Energy
August 26, 2011 Energy Update
In this Issue
Editor's Note
Variables Affecting Volatile Energy Prices
Spotlight on Solar
WGES Helps the D.C. Metro Area's Oldest Jewish Day School Go Solar
Natural Gas
EIA Gas Storage Update - Data Released August 25, 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 Graph For Natural Gas- 12 Month Average Price Per Therm at the Well-Head
PJM Electricity
Graph - PJM 12-Month Average Peak Power Price
Weather
Local Cooling Degree Days*
Recent Features
Perdue Completes First Phase for WGES-owned Solar Power System (August 12)

 


Philadelphia Brewery to Use 100% Wind Power Electricity From WGES (July 22)

 


Properties Can Profit from Residential Enrollments (June 24)

 

WGES Ranked #1 Supplier (June 3)

Our New Wind Power Partners
Corcoran Gallery of Art
Shipwright Harbor Inc.
Corcoran Gallery of Art
Shipwright Harbor Inc
Saint-Ex Group LLC
Buck Distributing Company
Kenwood House, Inc
The Town Council of Centreville, Maryland
Maryland Hotel Supply Company, Inc
American Society Interior Designers
GEA Process Engineering Inc.
Architectural Support Group
Barrell House Liquors
Washington International School
Regional Management, Inc
Merritt Properties
Demers Real Estate
Saint-Ex Group LLC
Buck Distributing Company
Kenwood House, Inc
The Town Council of Centreville, Maryland
Maryland Hotel Supply Company, Inc
American Society Interior Designers
GEA Process Engineering Inc.
Architectural Support Group
Barrell House Liquors
Washington International School
Regional Management, Inc
Merritt Properties
Demers Real Estate

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
Variables Affecting Volatile Energy Prices
Week in review for period of August 19-25, 2011

This week, all eyes have been focused on Hurricane Irene and the recent earthquake that hit the Eastern Seaboard. The market place did not overreact to either of these occurrences. The Bulls and the Bears wrestled to a draw.  For this seven day report period, the 12 month average price for natural gas on the NYMEX and the 12 month average price for peak power on the PJM closed at levels that were almost identical to last week's prices.

One reason prices remained flat was that analysts were not sure how Hurricane Irene would impact energy demand.  It is likely that energy demand will drop dramatically if Hurricane Irene causes widespread power outages across the Eastern Seaboard.  A loss of demand could place downward pressure on energy prices next week.

Another variable that was written about this week raised a question about the natural gas supply component going into the future. The U.S. Geological Survey published an estimate that said the Marcellus shale formation contained only 84 TCF of recoverable natural gas. On the other hand, the Energy Information Administration (EIA) had been quoted as saying there was 410 TCF of natural gas recoverable in this formation. If the market place discovers that there is less recoverable gas than originally predicted by EIA, this news could place upward pressure on energy prices.

As you already know, many variables influence the direction of energy prices. Most of these variables are difficult to predict, which is why natural gas and electricity prices are some of the most volatile commodity prices in the world.  For now, the good news is that natural gas and electricity prices are still trading near a seven year low. 

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