Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 11, Issue 27
We Know Energy
July 12, 2013 Energy Update
In this Issue
Editor's Note
Storage and Weather Keep a Lid on Prices
Spotlight on Customer Satisfaction
WGES Ranked Among Top Retail Energy Suppliers in Customer Satisfaction by J.D. Power
Natural Gas Fundamentals
Natural Gas Storage: The Above Average Injections Continue. Data Released July 11, 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 Cooling Degree Days*
Recent Features
WGES Selected to Provide Groundswell 100 Percent Wind Power for its Community Power Program Bid (May 24, 2013)


 


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
Storage and Weather Keep a Lid on Prices
Week in Review for June 28 - July 11, 2013

Due to the Independence Day holiday last week, this issue of Energy Update covers the two-week period of June 28 - July 11, 2013. In our previous update, we reported the average 12-month price for natural gas on the New York Mercantile Exchange (NYMEX) fell 6% while the 12-month average price for peak power on the PJM fell 4%. 

However, for this 14 day reporting period we saw very little price movement as the average 12 month price for natural gas on the New York Mercantile Exchange (NYMEX) fell less than 1% and the 12-month average price for peak power on the PJM fell less than 1%.

The two big variables that have continued to keep a lid on energy prices were storage and weather. On the natural gas storage side, the natural storage deficit continued to shrink as we saw another larger-than-expected injection. As reported by the U.S. Energy Information Administration yesterday, natural gas inventories were now only 1% below the five-year average.

On the weather front, the U.S. National Oceanic and Atmospheric Administration's 6-10 day outlook for July 17-21, 2013 continues to call for normal temperatures in most parts of the country. Less heat means that less natural gas will be needed to fuel the country's power plants. Mild weather, of course, dampens demand and helps keep a lid on energy prices.

However, the summer season is just getting started. Summer temperatures will continue to be the biggest wild card during the next two months. The reason that hot weather impacts energy prices is because more power plants are consuming natural gas to meet the country's air conditioning needs.

Natural gas consumption by the power plant sector is definitely increasing and will continue to impact pricing in the future. More power plants are burning natural gas because gas prices are low enough to compete with coal and natural gas is the cleaner option.

Stay tuned. A hotter-than-normal summer could impact energy prices more than ever before.

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