Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 11, Issue 11
We Know Energy
March 15, 2013 Energy Update
In this Issue
Editor's Note
Prices Increase for the Third Week in a Row
Free Webinar
Sustainable Print Matters: An Introduction to Green-e re:print
Natural Gas Fundamentals
Natural Gas Storage: Another Larger Than Normal Withdrawal. Data Released March 14, 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
New Contract with WGES Helps D.C. Retain Position as the Nation’s #1 Green Power Community (March 8, 2013)


 


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
Prices Increase for the Third Week in a Row
Week in Review for March 8-14, 2013

For the third week in a row energy prices inched upward. The average 12-month price for natural gas on the New York Mercantile Exchange (NYMEX) rose 4.4% and the 12-month average price for peak power on the PJM rose 2.3 %. Since the start of the month, natural gas prices have increased by 7% and electricity prices have increased by 4% on the PJM grid.

Analysts seem to agree that reaction to the recent storage report, as well as the recent cold snap, have both kept upward pressure on energy prices during the last two weeks. Many analysts have focused on reports showing that the natural gas storage bubble has shrunk, and that the weather has been colder than normal.

On the natural gas storage front, the U.S. Energy Information Administration (EIA) reported a larger-than-expected gas withdrawal for the third week in a row. These above average withdrawals have shrunk the gas bubble. To date, we have 18.5% less gas in storage than we did one year ago. The report also showed that storage fields are now only 11.4% above the five-year average. As you may recall, last year at this time the natural gas storage levels were 51% above the five-year average.

With regard to the weather, the past two weeks were cold. Additionally, the 8-14 day forecast released from the National Oceanic and Atmospheric Administration (NOAA) indicated that temperatures east of the Mississippi will be colder than normal during the period of March 20-28, 2013. Colder weather, of course, increases heating demand and tends to place upward pressure on energy prices.

The big question now is whether or not these gains are sustainable. The bulls may win a few more fights during  the next few months if production remains flat, as it has over the last 12 months, and if demand increases as more power plants, chemical plants and other various industrial users switch to low-priced natural gas,.

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
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.