Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 11, Issue 31
We Know Energy
August 9, 2013 Energy Update
In this Issue
Editor's Note
Mild Weather Turns Storage Deficit Into a Surplus
Natural Gas Fundamentals
Natural Gas Storage: Near Record Injection For August. Data Released August 8, 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
Washington Gas Energy Services Receives District of Columbia's 2013 Mayor's Sustainability Award (July 26, 2013)


 


WGES Ranked Among Top Retail Energy Suppliers in Customer Satisfaction by J.D. Power (July 12, 2013)


 


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)


 


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
Mild Weather Turns Storage Deficit Into a Surplus
Week in Review for August 2 - 8, 2013

For this seven-day report period, the mild weather placed downward pressure on energy prices for the third week in a row. This week, the average 12-month price for natural gas on the New York Mercantile Exchange (NYMEX) fell 2% and the 12-month average price for peak power on the PJM fell 1%.

As you may recall, we experienced some hot weather from July 5-19, 2013. However, since that time period, temperatures have moderated and energy prices have fallen. Since July 19, the end of the hot spell, natural gas prices have fallen $.03 per therm or 8.6%. Electricity prices on the PJM have fallen 6%.

How did our recent cool weather place downward pressure on energy prices? Mild temperatures meant less natural gas was needed to fuel the electric generators. This meant more natural gas could be packed into the storage fields, creating a small storage surplus and placing downward pressure on energy prices.

For example, this week's storage injection was surprisingly high at 96 Bcf. It was the second largest injection ever recorded in August. These large injections have flipped the storage deficit into a small surplus. For the first time since March 22 of this year, natural gas inventories ended the week 1% above the five-year average.

According to the National Oceanic and Atmospheric Administration (NOAA), the mild weather for August is expected to continue east of the Mississippi for the next ten days. If mild temperatures persist, perhaps we can head into November with a natural gas storage surplus and low energy prices.

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