Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 9, Issue 46
We Know Energy
December 2, 2011 Energy Update
In this Issue
Editor's Note
Energy Prices Creep Upward
Natural Gas
EIA Gas Storage Update - Data Released December 1, 2011 - We Saw First Withdrawal of Winter Season
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 Heating Degree Days*
Recent Features
WGES Receives Prestigious Green Power Supplier of the Year Award (Nov. 18)

 


WGES Selected to Supply 1.5 Million Megawatt Hours Per Year to the Baltimore Regional Cooperative Purchasing Committee (Nov. 14)

 



WGES and Kent County, Maryland Announce 1.58 Megawatt Solar Project (Nov. 4)

 


EPA Recognizes Panera Bread of Maryland as a Top Retail Green Power Purchaser (Oct. 28)

 


Chimes International Activates 3,000-Panel, 670-Kilowatt Solar Panel Field on Baltimore City Campus (Oct. 14)

 



Perdue Completes Final Phase of WGES-owned Solar Power System (Oct. 7)

 


University of Maryland College Park Unveils Its New Solar Array (Sept. 2)

 

Our New Wind Power Partners
Green Power Leadership Award Winner - U.S. Department of Energy

Panera Bread of Maryland (Lemek LLC)
Calvary Baptist Church
Mountain View Community Church
Caser Chavez Public School
PB Dye Golf Club
Behnke Nurseries
Townes of North Creek
Victory Racing Plate Company
Village Management, Inc.
Mt. Airy Bicycles
College Park Bicycles
Donatelli Development
Blue Ocean Realty
Mandarin Oriental
Bank of Georgetown
Embassy of Bosnia Herzogovina
Baltimore International College Foundation
The Shakespeare Theatre Co.
Kaiser Foundation Health Plans of Mid-Atlantic States
Carbon

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
Energy Prices Creep Upward
Week in review for period of November 18 to December 1, 2011

Note: Energy Update did not publish last Friday (Nov. 25) due to the Thanksgiving holiday weekend. This issue covers a two-week report period.

Natural gas and electricity prices reversed their direction for this report period. Instead of falling, as we reported in the previous two issues of Energy Update, energy prices increased this week. The 12 month average price for natural gas on the NYMEX rose 5%, and the 12 month average price for peak power on the PJM rose 3%.

As you may recall, natural gas and electricity prices fell during the first few weeks of November. Most analysts suggested the sluggish economic growth and mild weather kept a lid on energy demand. This weak energy demand did place some downward pressure on prices. But, can you guess what placed upward pressure on energy prices this week? The news wires reported that the U.S. economy is showing signs of growth in the manufacturing sector, job creation and consumer spending. Additionally, the 6 -10 day forecast predicted that most of the country would experience colder than normal temperatures during the next week.

Thus, if sluggish economic reports and moderate temperatures can place downward pressure on energy prices, then it is fair to expect that positive economic forecasts and cold temperatures can place some upward pressure on energy prices.

Although prices crept up this week, it may be difficult to sustain the upward trend because storages are robust and dry gas production is strong. However, as we saw this week, demand is the wild card. Stay tuned.

Another variable to watch: The U.S. Environmental Protection Agency, the New York legislature and the West Virginia legislature continue to study the impact that shale gas drilling has on water supplies. State Senator Tony Avella from New York announced he wants to completely ban shale gas drilling due to concerns about water pollution.

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