Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 10, Issue 47
We Know Energy
November 30, 2012 Energy Update
In this Issue
Editor's Note
NOAA and EIA Reports Placed Downward Pressure on Energy Prices
Spotlight on Wind Energy
WGES Announces Pennsylvania Wind Power Product, Offers Southeastern Pa. Communities Incentives for Purchases
Natural Gas Fundamentals
Natural Gas Storage: Big Surprise. Data Released November 29, 2012
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 Louisiana Well-Head
PJM Electricity
PJM Graph for Electricity - 12 Month Average Peak Power Price
Weather
Local Cooling Degree Days*
Recent Features
Renewable Energy Markets 2012 Conference Highlights WGES Staff and Customers (Oct. 5, 2012)


 


The Brick Companies Converts Entire Maryland Portfolio to 100 Percent WGES CleanSteps® WindPower and Reduces its Carbon Footprint (Sept. 28, 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
NOAA and EIA Reports Placed Downward Pressure on Energy Prices
Week in Review for November 16-29, 2012

Due to the Thanksgiving holiday, we did not publish last week's Energy Update. As a result, this issue covers the past two weeks instead of the usual seven-day report period.

For this fourteen-day report period, the average 12-month price for natural gas on the New York Mercantile Exchange (NYMEX) fell 2.5% and the 12-month average price for peak power on the PJM fell 3%.

This week's price decline was tied to the 10-day weather forecast which called for warmer-than-normal temperatures, and the natural gas storage report which included a surprise injection into the natural gas storage fields.

On the weather front, the National Oceanic and Atmospheric Administration (NOAA) released their 6-10 day weather forecast which predicted above-average temperatures in every state except Florida. This news placed downward pressure on both natural gas and electricity prices.

Are we seeing a pattern? When NOAA releases a forecast calling for colder-than-normal temperatures in most of the country, energy prices seem to inch upward. On the other hand, when NOAA releases a forecast calling for warmer than normal temperatures, energy prices seem to fall.

On the storage side of the equation, the Energy Information Administration (EIA) reported a big surprise. We saw an injection of 4 Bcf. Analysts were expecting a gas withdrawal of 9 Bcf to 13 Bcf. The five-year average withdrawal for this time of year was 18 Bcf. Analysts attributed the surprise gas injection to the mild weather and the Thanksgiving holiday.

Winter temperatures and storage reports are two variables that can influence the near-term direction of energy prices. Unfortunately, the weather is one variable that is difficult to predict.

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