Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 11, Issue 21
We Know Energy
May 24, 2013 Energy Update
In this Issue
Editor's Note
The "Shoulder Season" is Over as Prices Rise
Spotlight on Wind Power
WGES Selected to Provide Groundswell 100 Percent Wind Power for its Community Power Program Bid
Natural Gas Fundamentals
Natural Gas Storage: Injection Number Close to Five-Year Average. Data Released May 23, 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 Presents $88,000 to Chesapeake Bay Foundation at Annual Earth Day Tree Planting (April 26, 2013)


 


Washington, D.C.’s Union Station Now Powered by 100 Percent Wind Energy Provided by WGES (April 12, 2013)


 


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)


 


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
The "Shoulder Season" is Over as Prices Rise
Week in Review for May 17-23, 2013

Over the past four weeks we have enjoyed mild spring temperatures, which resulted in minimal demand for either heating or cooling. We commonly refer to this time of year as the "shoulder season." During this time we experienced a small dip in prices for natural gas and electricity. However, it appears that the "shoulder season" has now ended.

During this seven-day report period the average 12-month price for natural gas on the New York Mercantile Exchange (NYMEX) rose 6.6%. The 12-month average price for peak power on the PJM rose 5%.

Two variables seemed to spark this week's price rally: the weather forecast and news related to a federal regulatory action.

On the weather front, the National Oceanic and Atmospheric Administration (NOAA) has released its forecast for the period of May 31 to June 6, 2013. The outlook calls for above-average temperatures east of the Mississippi, meaning that the first heat wave of the season is coming our way. The marketplace is very sensitive to weather forecasts. As temperatures rise, more natural gas is directed to the power plants instead of the natural gas storage fields.

The other variable that spooked the marketplace came from the regulatory arena. Last Friday, May 17, the U.S. Department of Energy announced the conditional approval of a second Gulf Coast terminal in Texas designed to export liquefied natural gas. The market place is very sensitive to this issue because exporting natural gas overseas is new to the U.S energy markets. Some industry watchers fear that a vibrant natural gas export model will place upward pressure on prices for our domestic energy supplies. These concerns tend to place upward pressure on energy prices.

Stay tuned. Summer doesn't officially start until June 21. But with hot weather forecast to head our way soon, it looks like our "shoulder season" is definitely over.

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