Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 9, Issue 38
We Know Energy
September 30, 2011 Energy Update
In this Issue
Editor's Note
This Was the First Week Out of Four That Prices Did Not Fall
Natural Gas
EIA Gas Storage Update - Data Released September 29, 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
University of Maryland College Park Unveils Its New Solar Array (Sept. 2)

 


WGES Helps the D.C. Metro Area's Oldest Jewish Day School Go Solar (August 26)

 


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
This Was the First Week Out of Four That Prices Did Not Fall
Week in review for period of September 23 - 29, 2011

Natural gas and electricity prices have fallen over the past three weeks. However, for this seven day report period, the bulls and bears wrestled to a draw. The 12 month average price for natural gas on the NYMEX rose less than 1%, and the 12 month average price for peak power on the PJM rose 1%.

This week, energy prices received some downward pressure after the Energy Information Administration announced that the natural gas injection was a whopping 111 Bcf which was 56% greater than the five year average of 71 Bcf. Storage levels are now above the five year average. In fact, we went from a deficit to surplus this week for the first time since April 15, 2011. This larger than normal injection points to the fact that that demand is still low and production is ample thanks to the shale gas discoveries.

Although the supply picture looks good, there was some economic news that placed upward pressure on energy prices this week. For starters, the government announced that the U. S. gross domestic product grew at an average annual rate of 1.3% which surpassed the estimated annual rate of 1%. Then, Germany announced its approval of a "bailout fund" which was designed to help ease the debt crisis in Europe. If the economy is healing, an increase in energy demand could follow. This news was enough to keep energy prices from falling.

In addition to the positive economic news, the weather forecasters were calling for the arrival our first cold snap. Cold weather will definitely increase energy demand and could place some upward pressure on prices.

If you have not locked your winter prices, this is a great time to discuss your renewal strategy with your WGES account manager. Prices are still near the seven year lows.

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