Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 10, Issue 7
We Know Energy
February 17, 2012 Energy Update
In this Issue
Editor's Note
Natural Gas Rig Count Continues to Drop
Natural Gas Fundamentals
Natural Gas Storage Update: Data Released February 16, 2012
Baker Hughes Rotary Rig Count For Natural Gas
NYMEX Natural Gas Monthly Settlements For the Past 12 Months
NYMEX Values Per Month 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 Customers Show How Small Changes Make a Big Difference (Jan. 27, 2012)

 


D.C.'s Dumbarton House Reduces its Carbon Footprint with Purchase of Carbon Offsets from WGES (Dec. 30, 2011)

 



U.S. EPA Honors the District of Columbia with the Green Power Community of the Year Award (Dec. 9, 2011)

 



WGES Receives Prestigious Green Power Supplier of the Year Award (Nov. 18, 2011)

 


WGES Selected to Supply 1.5 Million Megawatt Hours Per Year to the Baltimore Regional Cooperative Purchasing Committee (Nov. 14, 2011)





WGES and Kent County, Maryland Announce 1.58 Megawatt Solar Project (Nov. 4, 2011)

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
Natural Gas Rig Count Continues to Drop
Week in review for period of Feb. 10 - 16, 2012

This is the third week in a row that natural gas and electricity prices closed relatively flat compared to the previous week's numbers. For this seven-day report period, the 12-month average price for natural gas on the NYMEX rose 1% and the 12-month average price for peak power on the PJM fell 1%.

Is this the bottom? The noteworthy story this week is the big difference between crude oil prices and natural gas prices. Natural gas prices are trading near a ten-year low while crude oil prices are trading at extremely high levels. Crude oil prices closed at $102 per barrel this week and are not expected to drop anytime soon.

As a result of this huge price disparity, energy producers are shifting their focus away from the natural gas wells to the oil wells. The active rig count for natural gas has fallen 23% since Oct. 14, 2011. However, according to the Energy Information Administration, the oil rig count has increased by 57% since last year.

As producers "shut-in" their gas wells and shift their focus to the oil play, we may begin to see some upward pressure on natural gas and electricity prices. Stay tuned. For now, natural gas and electricity prices continue trading at very attractive levels.

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.