Washington Gas Energy Services: A Washington Gas Affiliate Complany
Volume 11, Issue 40
We Know Energy
October 11, 2013 Energy Update
In this Issue
Editor's Note
Prices Rise Due to Tropical Storm and Expected Cold Weather
Natural Gas Fundamentals
Natural Gas Storage Update. Data Released October 10, 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 to Offset Carbon Impact of Upcoming RETECH Conference (August 30, 2013)


 


Deadline Approaching for D.C. Energy and Water Benchmarking Requirement (August 23, 2013)


 


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)



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 Rise Due to Tropical Storm and Expected Cold Weather
Week in Review for October 4 - 10, 2013

Last week, the average 12-month price for natural gas on the New York Mercantile Exchange (NYMEX) fell 1% and the 12-month average price for peak power on the PJM also fell 1%. This week, on the other hand, we experienced some price volatility. For this seven-day report period, the average 12-month price for natural gas on the NYMEX rose 5% and the 12-month average price for peak power on the PJM rose 2%.

First, the energy markets reacted to a decrease in normal natural gas production in the Gulf of Mexico. Off-shore drilling rigs in the Gulf were shut in last week in preparation for tropical storm Karen.

In a second weather-related development, the National Weather Service is forecasting the first autumn cold snap for the Northeast region during the third week in October.

The natural gas storage fields closed 1.6% above the five-year average after this week's injection of 90 Bcf, but are still 3.7% lower compared to levels this time last year. Traditionally, the injection season runs from April 1st through October 31st. So, we have a few more weeks left for injections to help provide sufficient supply for the winter demand season.

At this point, supply and demand levels hang in the balance depending on what the winter season has in store for us. However, energy prices are still at their second lowest levels in 10 years. This is a good time to start evaluating your renewal options before the cold weather arrives.

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