Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 11, Issue 10
We Know Energy
March 8, 2013 Energy Update
In this Issue
Editor's Note
Increasing Demand Keeps Upward Pressure on Energy Prices
Spotlight on Wind Power
New Contract with WGES Helps D.C. Retain Position as the Nationís #1 Green Power Community
Natural Gas Fundamentals
Natural Gas Storage: Two Large Withdrawals in a Row. Data Released March 7, 2013
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 Heating Degree Days*
Recent Features
WGES and Sterling Planet Renew Unique Partnership and CleanSteps® Carbon Offsets Agreement (March 1, 2013)


 


WGES and Shell Energy Enter Into Strategic Supply Arrangement (Feb. 22, 2013)


  

Washington Gas Energy Services Receives Green-e Energy Certification of New WGES PA WindPower Renewable Energy Product (Feb. 8, 2013)


 



Ridgewells, the D.C. Area's Largest Catering Company, Purchases WGES Green Products (Feb. 1, 2013)




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


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
Increasing Demand Keeps Upward Pressure on Energy Prices
Week in Review for March 1-7, 2013

For the second week in a row, energy prices inched upward. The average 12-month price for natural gas on the New York Mercantile Exchange (NYMEX) rose 1.8% and the 12-month average price for peak power on the PJM rose by 1.2 %.

The variable receiving most of the blame for the recent price increases was storage. For the second consecutive week, the U.S. Energy Information Administration (EIA) reported a larger-than-expected gas withdrawal from storage. This seemed to spook the market. These larger-than-expected withdrawals have added fuel to the theory that energy demand was growing and natural gas production was leveling off.

A recent EIA report showed that natural gas demand was up 8.9% from last year at this time, while another report showed that production was flat during the same 12 months. On the demand side, this winter was a little colder than last year and thus accounted for some of the demand increases. However, analysts noted that other demand components are now entering the equation. More power plants, chemical plants and various industrial users are looking to switch to low priced, clean natural gas.

Although this potential tightening of supply and demand has applied some upward pressure to energy prices over the last two weeks, we are hopeful that the shale gas phenomenon will keep the bulls in check for the next few years.

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