Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 10, Issue 35
We Know Energy
August 31, 2012 Energy Update
In this Issue
Editor's Note
72% of the Offshore Gas Rigs Are Shut-in
Natural Gas Fundamentals
Natural Gas Storage: Data Released August 30, 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 Cooling Degree Days*
Recent Features
WGES-owned Solar Projects in Maryland Dedicated, Activated (July 20, 2012)





WGES Announces Special Offers to Support Philadelphia’s Quest to Become the Nation’s #1 Green Power Community (June 22, 2012)






WGES and Sterling Planet Donate $126,000 to the Chesapeake Bay Foundation’s Carbon Reduction Fund; Help Plant 1,500 Trees in Frederick, Md. (April 27, 2012)






 
WGES Provides Green Energy Products to Mandarin Oriental, D.C. (April 20, 2012)




WGES Renewable Energy Products Are Now Green-e Energy Certified (April 6, 2012)




New MSN Video Features a WGES Customer's Green Power Commitment (March 23, 2012)

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
72% of the Offshore Gas Rigs Are Shut-in
Week In Review For August 24 - 30, 2012

Neither Wind, nor rain nor the threat of a hurricane were enough to spike energy prices this week. For this seven-day report period, the average price for natural gas on the NYMEX fell 1%. The 12-month average price for peak power on the PJM fell by less than 1%.

Natural gas and electricity prices have been range bound over the last six weeks. However, this week, we feared that energy prices would spike upward as Hurricane Isaac moved into the Gulf of Mexico. Hurricanes can spook the marketplace and place upward pressure on energy prices. Producers were spooked by this storm. As of August 30, the U.S. Department of Energy reported that 72% of the offshore gas rigs were shut-in and 95% of the offshore oil rigs were shut-in.

The big question is why the natural gas and electricity rates remained relatively flat this week. One thought is that Hurricane Isaac was a category 1 storm and thus would not cause as much damage off-shore as a category 2 or 3 storm.

Another possible reason for flat pricing this week is that less and less natural gas is coming from the offshore rigs in the ocean. In fact, onshore natural gas production from the shale formations now accounts for more than 25% of the United States' gas production.

Natural gas and electricity prices are some of the most volatile commodities in the world. For now, most people are happy to be stuck in today's pricing range which represents a nine-year low.

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